3Chopt Investment Partners LLC Invests $893,000 in Visa Inc. (NYSE:V)

3Chopt Investment Partners LLC acquired a new position in Visa Inc. (NYSE:V) during the second quarter, according to its most recent 13F filing with the SEC. The firm acquired 3,403 shares of the credit-card processor’s stock, valued at approximately $893,000.

Other large investors also recently modified their holdings of the company. National Bank of Canada FI raised its holdings in shares of Visa by 787.1% during the 1st quarter. National Bank of Canada FI now owns 4,619,881 shares of the credit-card processor’s stock valued at $1,296,820,000 after buying an additional 4,099,122 shares during the period. Swedbank AB purchased a new stake in shares of Visa during the 1st quarter valued at about $511,321,000. GQG Partners LLC raised its holdings in shares of Visa by 40.1% during the 1st quarter. GQG Partners LLC now owns 5,990,634 shares of the credit-card processor’s stock valued at $1,671,866,000 after buying an additional 1,715,686 shares during the period. Wulff Hansen & CO. raised its holdings in shares of Visa by 26,951.9% during the 2nd quarter. Wulff Hansen & CO. now owns 1,587,944 shares of the credit-card processor’s stock valued at $416,788,000 after buying an additional 1,582,074 shares during the period. Finally, Public Employees Retirement Association of Colorado grew its stake in Visa by 14,306.3% during the 4th quarter. Public Employees Retirement Association of Colorado now owns 1,500,270 shares of the credit-card processor’s stock valued at $390,595,000 after purchasing an additional 1,489,856 shares in the last quarter. 82.15% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at Visa

In other Visa news, CEO Ryan Mcinerney sold 8,620 shares of the business’s stock in a transaction dated 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 transaction, the chief executive officer now owns 538 shares in the company, valued at $148,687.06. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 0.19% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts have weighed in on the company. William Blair upgraded Visa to a “strong-buy” rating in a research note on Tuesday, July 23rd. Compass Point assumed coverage on Visa in a research note on Wednesday, September 4th. They set a “buy” rating and a $319.00 price objective for the company. Monness Crespi & Hardt restated a “neutral” rating on shares of Visa in a research note on Tuesday, September 24th. TD Cowen lowered their price objective on Visa from $320.00 to $318.00 and set a “buy” rating for the company in a research note on Wednesday, July 24th. Finally, Piper Sandler lowered their price objective on Visa from $322.00 to $319.00 and set an “overweight” rating for the company in a research note on Wednesday, July 24th. Six analysts have rated the stock with a hold rating, twenty-three have assigned a buy rating and two have given a strong buy rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $310.22.

Visa Stock Performance

Shares of V stock opened at $274.77 on Tuesday. Visa Inc. has a 1-year low of $227.78 and a 1-year high of $293.07. The company has a current ratio of 1.37, a quick ratio of 1.37 and a debt-to-equity ratio of 0.54. The company has a market capitalization of $502.54 billion, a price-to-earnings ratio of 30.70, a P/E/G ratio of 1.94 and a beta of 0.96. The stock’s fifty day simple moving average is $271.45 and its 200-day simple moving average is $273.11.

Visa (NYSE:V) last issued its quarterly earnings results on Tuesday, July 23rd. The credit-card processor reported $2.42 earnings per share 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 business had revenue of $8.90 billion for the quarter, compared to the consensus estimate of $8.92 billion. During the same quarter in the previous year, the company posted $2.16 earnings per share. Visa’s revenue for the quarter was up 9.6% compared to the same quarter last year. On average, sell-side analysts predict that Visa Inc. will post 9.92 earnings per share for the current fiscal year.

Visa Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, September 3rd. Shareholders of record on Friday, August 9th were paid a $0.52 dividend. The ex-dividend date of this dividend was Friday, August 9th. This represents a $2.08 dividend on an annualized basis and a yield of 0.76%. Visa’s dividend payout ratio (DPR) is currently 23.24%.

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.