Chapin Davis Inc. Acquires 388 Shares of Visa Inc. (NYSE:V)

Chapin Davis Inc. grew its position in Visa Inc. (NYSE:V) by 11.8% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 3,670 shares of the credit-card processor’s stock after acquiring an additional 388 shares during the period. Chapin Davis Inc.’s holdings in Visa were worth $1,009,000 at the end of the most recent reporting period.

Other institutional investors also recently modified their holdings of the company. Livelsberger Financial Advisory acquired a new stake in shares of Visa in the fourth quarter valued at approximately $25,000. Westend Capital Management LLC acquired a new position in shares of Visa in the 1st quarter valued at $25,000. POM Investment Strategies LLC grew its holdings in shares of Visa by 970.0% in the 2nd quarter. POM Investment Strategies LLC now owns 107 shares of the credit-card processor’s stock valued at $28,000 after buying an additional 97 shares during the period. TruNorth Capital Management LLC lifted its position in Visa by 211.9% in the 2nd quarter. TruNorth Capital Management LLC now owns 131 shares of the credit-card processor’s stock valued at $34,000 after acquiring an additional 89 shares in the last quarter. Finally, Bbjs Financial Advisors LLC bought a new stake in Visa in the 2nd quarter valued at $35,000. Institutional investors own 82.15% of the company’s stock.

Insider Activity

In other news, CEO Ryan Mcinerney sold 8,620 shares of the firm’s stock in a transaction on Tuesday, September 3rd. The shares were sold at an average price of $276.37, for a total transaction of $2,382,309.40. Following the completion of the transaction, the chief executive officer now owns 538 shares of the company’s stock, valued at approximately $148,687.06. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 0.19% of the company’s stock.

Visa Stock Performance

Shares of NYSE:V opened at $273.87 on Tuesday. The company’s 50 day moving average price is $273.00 and its two-hundred day moving average price is $272.86. Visa Inc. has a 12-month low of $228.03 and a 12-month high of $293.07. The company has a quick ratio of 1.37, a current ratio of 1.37 and a debt-to-equity ratio of 0.54. The firm has a market cap of $500.89 billion, a PE ratio of 30.60, a PEG ratio of 1.92 and a beta of 0.96.

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

Visa Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, September 3rd. Stockholders of record on Friday, August 9th were paid a dividend of $0.52 per share. This represents a $2.08 annualized dividend and a dividend yield of 0.76%. The ex-dividend date of this dividend was Friday, August 9th. Visa’s payout ratio is currently 23.24%.

Wall Street Analyst Weigh In

Several equities research analysts recently commented on V shares. Royal Bank of Canada cut their price objective on shares of Visa from $315.00 to $311.00 and set an “outperform” rating on the stock in a research report on Wednesday, July 24th. The Goldman Sachs Group reissued a “buy” rating and set a $317.00 price target on shares of Visa in a research report on Thursday, September 12th. Jefferies Financial Group cut their price target on shares of Visa from $325.00 to $300.00 and set a “buy” rating on the stock in a research report on Wednesday, July 24th. Citigroup cut their price target on shares of Visa from $321.00 to $319.00 and set a “buy” rating on the stock in a research report on Wednesday, July 24th. Finally, Bank of America boosted their price target on shares of Visa from $279.00 to $308.00 and gave the stock a “neutral” rating in a research report on Tuesday, September 17th. Six investment analysts have rated the stock with a hold rating, twenty-three have given a buy rating and two have given a strong buy rating to the company’s stock. According to data from MarketBeat.com, Visa currently has an average rating of “Moderate Buy” and an average target price of $312.04.

Visa Company Profile

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.