Chevy Chase Trust Holdings LLC Has $425.97 Million Holdings in Visa Inc. (NYSE:V)

Chevy Chase Trust Holdings LLC lowered its stake in Visa Inc. (NYSE:V) by 0.4% during the first quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 1,526,322 shares of the credit-card processor’s stock after selling 6,825 shares during the quarter. Visa comprises approximately 1.4% of Chevy Chase Trust Holdings LLC’s investment portfolio, making the stock its 10th biggest holding. Chevy Chase Trust Holdings LLC owned 0.08% of Visa worth $425,966,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Capital International Investors grew its stake in shares of Visa by 2.7% in the fourth quarter. Capital International Investors now owns 22,943,773 shares of the credit-card processor’s stock valued at $5,973,432,000 after buying an additional 596,950 shares in the last quarter. Capital World Investors increased its stake in shares of Visa by 8.0% during the 4th quarter. Capital World Investors now owns 17,895,788 shares of the credit-card processor’s stock worth $4,659,169,000 after purchasing an additional 1,323,238 shares during the last quarter. Norges Bank bought a new stake in shares of Visa in the 4th quarter valued at about $3,895,015,000. Jennison Associates LLC lifted its stake in Visa by 0.7% in the 4th quarter. Jennison Associates LLC now owns 11,824,113 shares of the credit-card processor’s stock valued at $3,078,408,000 after purchasing an additional 85,123 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. grew its holdings in Visa by 1.4% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 10,524,329 shares of the credit-card processor’s stock worth $2,725,079,000 after purchasing an additional 141,566 shares during the period. Institutional investors and hedge funds own 82.15% of the company’s stock.

Analysts Set New Price Targets

V has been the subject of a number of recent analyst reports. Oppenheimer raised their price objective on Visa from $297.00 to $299.00 and gave the company an “outperform” rating in a research report on Wednesday, April 24th. Wedbush raised their price target on Visa from $280.00 to $300.00 and gave the company an “outperform” rating in a report on Wednesday, April 24th. UBS Group increased their price objective on shares of Visa from $315.00 to $325.00 and gave the company a “buy” rating in a research report on Wednesday, April 24th. Evercore ISI cut their target price on shares of Visa from $335.00 to $330.00 and set an “outperform” rating for the company in a research note on Tuesday, June 25th. Finally, Piper Sandler assumed coverage on shares of Visa in a research note on Monday, May 13th. They issued an “overweight” rating and a $322.00 price target on the stock. Six equities research analysts have rated the stock with a hold rating and twenty-one have issued a buy rating to the stock. Based on data from MarketBeat.com, Visa currently has an average rating of “Moderate Buy” and a consensus target price of $304.44.

Insider Buying and Selling

In related news, Director Lloyd Carney sold 909 shares of the stock in a transaction dated Friday, April 26th. The shares were sold at an average price of $275.55, for a total transaction of $250,474.95. Following the completion of the transaction, the director now owns 2,591 shares in the company, valued at $713,950.05. The transaction was disclosed in a document filed with the SEC, which is available through this link. In other Visa news, insider Paul D. Fabara sold 25,293 shares of the stock in a transaction dated Wednesday, May 15th. The shares were sold at an average price of $277.15, for a total transaction of $7,009,954.95. Following the completion of the transaction, the insider now owns 17,894 shares in the company, valued at $4,959,322.10. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Lloyd Carney sold 909 shares of Visa stock in a transaction that occurred on Friday, April 26th. The shares were sold at an average price of $275.55, for a total transaction of $250,474.95. Following the completion of the transaction, the director now owns 2,591 shares of the company’s stock, valued at $713,950.05. The disclosure for this sale can be found here. 0.19% of the stock is currently owned by corporate insiders.

Visa Price Performance

Shares of NYSE:V opened at $261.63 on Thursday. The stock’s 50 day moving average is $272.98 and its 200-day moving average is $273.93. Visa Inc. has a twelve month low of $227.68 and a twelve month high of $290.96. The company has a quick ratio of 1.40, a current ratio of 1.40 and a debt-to-equity ratio of 0.53. The firm has a market capitalization of $478.51 billion, a price-to-earnings ratio of 29.38, a PEG ratio of 1.82 and a beta of 0.95.

Visa (NYSE:V) last issued its quarterly earnings data on Tuesday, April 23rd. The credit-card processor reported $2.51 EPS for the quarter, topping analysts’ consensus estimates of $2.43 by $0.08. The firm had revenue of $8.78 billion during the quarter, compared to analyst estimates of $8.62 billion. Visa had a return on equity of 51.23% and a net margin of 53.87%. The company’s revenue for the quarter was up 9.9% on a year-over-year basis. During the same period in the previous year, the company posted $2.09 EPS. Sell-side analysts forecast that Visa Inc. will post 9.94 EPS for the current fiscal year.

Visa Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, June 3rd. Investors of record on Friday, May 17th were given a dividend of $0.52 per share. This represents a $2.08 dividend on an annualized basis and a dividend yield of 0.80%. The ex-dividend date was Thursday, May 16th. Visa’s payout ratio is 23.24%.

Visa 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.