Cheviot Value Management LLC Has $16.95 Million Stock Position in Visa Inc. (NYSE:V)

Cheviot Value Management LLC trimmed its holdings in shares of Visa Inc. (NYSE:V) by 0.2% in the second quarter, according to its most recent filing with the SEC. The firm owned 64,573 shares of the credit-card processor’s stock after selling 142 shares during the period. Visa makes up about 3.3% of Cheviot Value Management LLC’s investment portfolio, making the stock its 8th biggest position. Cheviot Value Management LLC’s holdings in Visa were worth $16,949,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently made changes to their positions in V. Alaethes Wealth LLC lifted its stake in Visa by 0.4% during the 4th quarter. Alaethes Wealth LLC now owns 8,843 shares of the credit-card processor’s stock valued at $2,302,000 after acquiring an additional 37 shares in the last quarter. Jessup Wealth Management Inc lifted its position in Visa by 0.7% in the 1st quarter. Jessup Wealth Management Inc now owns 5,051 shares of the credit-card processor’s stock worth $1,410,000 after buying an additional 37 shares during the last quarter. Cordatus Wealth Management LLC lifted its position in Visa by 0.3% in the 1st quarter. Cordatus Wealth Management LLC now owns 10,793 shares of the credit-card processor’s stock worth $3,012,000 after buying an additional 37 shares during the last quarter. Garden State Investment Advisory Services LLC lifted its position in Visa by 1.8% in the fourth quarter. Garden State Investment Advisory Services LLC now owns 2,191 shares of the credit-card processor’s stock valued at $571,000 after purchasing an additional 38 shares during the last quarter. Finally, Tlwm increased its stake in shares of Visa by 0.7% during the second quarter. Tlwm now owns 5,241 shares of the credit-card processor’s stock valued at $1,376,000 after buying an additional 38 shares during the period. 82.15% of the stock is owned by institutional investors.

Visa Stock Up 1.4 %

Shares of V stock opened at $288.62 on Tuesday. The stock’s 50-day simple moving average is $271.05 and its 200-day simple moving average is $273.47. The company has a debt-to-equity ratio of 0.54, a quick ratio of 1.37 and a current ratio of 1.37. The firm has a market capitalization of $527.86 billion, a PE ratio of 32.25, a P/E/G ratio of 2.05 and a beta of 0.96. Visa Inc. has a fifty-two week low of $227.78 and a fifty-two week high of $293.07.

Visa (NYSE:V) last issued its earnings results on Tuesday, July 23rd. The credit-card processor reported $2.42 EPS for the quarter, hitting analysts’ consensus estimates of $2.42. Visa had a return on equity of 51.94% and a net margin of 54.72%. The firm had revenue of $8.90 billion for the quarter, compared to the consensus estimate of $8.92 billion. During the same quarter in the prior year, the business earned $2.16 earnings per share. The company’s revenue was up 9.6% compared to the same quarter last year. Equities analysts expect that Visa Inc. will post 9.92 earnings per share for the current year.

Visa Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Tuesday, September 3rd. Stockholders of record on Friday, August 9th were given a $0.52 dividend. The ex-dividend date was Friday, August 9th. This represents a $2.08 annualized dividend and a dividend yield of 0.72%. Visa’s dividend payout ratio (DPR) is presently 23.24%.

Wall Street Analyst Weigh In

V has been the topic of several research analyst reports. StockNews.com raised Visa from a “hold” rating to a “buy” rating in a research note on Friday, August 9th. Royal Bank of Canada lowered their target price on Visa from $315.00 to $311.00 and set an “outperform” rating on the stock in a report on Wednesday, July 24th. Bank of America raised their price objective on Visa from $279.00 to $308.00 and gave the stock a “neutral” rating in a research note on Tuesday, September 17th. Jefferies Financial Group cut their target price on Visa from $325.00 to $300.00 and set a “buy” rating for the company in a research report on Wednesday, July 24th. Finally, The Goldman Sachs Group restated a “buy” rating and set a $317.00 price target on shares of Visa in a report on Thursday, September 12th. Six analysts have rated the stock with a hold rating, twenty-four have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $310.22.

Insider Activity

In other news, CEO Ryan Mcinerney sold 8,620 shares of the firm’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 transaction, the chief executive officer now owns 538 shares in the company, valued at $148,687.06. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Company insiders own 0.19% of the company’s stock.

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.