Choreo LLC Raises Stake in Visa Inc. (NYSE:V)

Choreo LLC boosted its holdings in Visa Inc. (NYSE:V) by 250.7% during the second quarter, according to the company in its most recent disclosure with the SEC. The firm owned 66,391 shares of the credit-card processor’s stock after purchasing an additional 47,460 shares during the quarter. Choreo LLC’s holdings in Visa were worth $17,473,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also made changes to their positions in the company. Vanguard Group Inc. boosted its position in shares of Visa by 0.6% during the first quarter. Vanguard Group Inc. now owns 142,202,830 shares of the credit-card processor’s stock valued at $39,685,966,000 after buying an additional 788,908 shares during the last quarter. Capital International Investors increased its stake in shares of Visa by 2.7% in the 1st quarter. Capital International Investors now owns 23,570,391 shares of the credit-card processor’s stock worth $6,578,025,000 after purchasing an additional 626,618 shares in the last quarter. Capital World Investors raised its holdings in Visa by 5.4% in the 1st quarter. Capital World Investors now owns 18,863,796 shares of the credit-card processor’s stock worth $5,264,508,000 after purchasing an additional 968,008 shares during the period. Norges Bank purchased a new position in Visa during the fourth quarter valued at $3,895,015,000. Finally, Fisher Asset Management LLC grew its holdings in Visa by 1.9% during the fourth quarter. Fisher Asset Management LLC now owns 8,900,179 shares of the credit-card processor’s stock valued at $2,317,162,000 after purchasing an additional 166,767 shares during the period. Institutional investors own 82.15% of the company’s stock.

Visa Stock Up 0.3 %

Shares of NYSE:V opened at $280.21 on Monday. The firm has a market capitalization of $510.63 billion, a PE ratio of 31.21, a price-to-earnings-growth ratio of 1.97 and a beta of 0.96. The business has a 50 day simple moving average of $266.53 and a two-hundred day simple moving average of $273.11. Visa Inc. has a 1 year low of $227.78 and a 1 year high of $290.96. The company has a debt-to-equity ratio of 0.54, a current ratio of 1.37 and a quick ratio of 1.37.

Visa (NYSE:V) last posted its quarterly earnings data on Tuesday, July 23rd. The credit-card processor reported $2.42 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $2.42. Visa had a return on equity of 51.94% and a net margin of 54.72%. The company had revenue of $8.90 billion during the quarter, compared to analysts’ expectations of $8.92 billion. During the same quarter in the previous year, the business earned $2.16 EPS. Visa’s revenue was up 9.6% compared to the same quarter last year. On average, equities analysts predict that Visa Inc. will post 9.92 EPS for the current year.

Visa Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, September 3rd. Investors of record on Friday, August 9th were issued a dividend of $0.52 per share. The ex-dividend date was Friday, August 9th. This represents a $2.08 dividend on an annualized basis and a yield of 0.74%. Visa’s payout ratio is 23.24%.

Analysts Set New Price Targets

A number of research firms have recently weighed in on V. Macquarie reaffirmed an “outperform” rating and set a $300.00 price objective on shares of Visa in a research report on Wednesday, July 24th. Morgan Stanley lowered their price target on shares of Visa from $326.00 to $322.00 and set an “overweight” rating on the stock in a report on Wednesday, July 24th. JPMorgan Chase & Co. increased their price objective on shares of Visa from $290.00 to $320.00 and gave the stock an “overweight” rating in a research note on Tuesday, August 20th. StockNews.com upgraded shares of Visa from a “hold” rating to a “buy” rating in a research note on Friday, August 9th. Finally, Piper Sandler decreased their price target on Visa from $322.00 to $319.00 and set an “overweight” rating on the stock in a report on Wednesday, July 24th. Six analysts have rated the stock with a hold rating, twenty-three have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, Visa presently has a consensus rating of “Moderate Buy” and an average target price of $309.54.

Insider Buying and Selling at Visa

In related news, CEO Ryan Mcinerney sold 8,620 shares of the business’s stock in a transaction that occurred on Tuesday, September 3rd. The stock was sold at an average price of $276.37, for a total value of $2,382,309.40. Following the completion of the sale, the chief executive officer now owns 538 shares in the company, valued at $148,687.06. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.19% of the stock is owned by corporate insiders.

About Visa

Visa Inc operates as a payment technology company in the United States and internationally. The company operates VisaNet, a transaction processing network that enables authorization, clearing, and settlement of payment transactions. It also offers credit, debit, and prepaid card products; tap to pay, tokenization, and click to pay services; Visa Direct, a solution that facilitates the delivery of funds to eligible cards, deposit accounts, and digital wallets; Visa B2B Connect, a multilateral business-to-business cross-border payments network; Visa Cross-Border Solution, a cross-border consumer payments solution; and Visa DPS that provides a range of value-added services, including fraud mitigation, dispute management, data analytics, campaign management, a suite of digital solutions, and contact center services.