Chesley Taft & Associates LLC Sells 3,481 Shares of Visa Inc. $V

Chesley Taft & Associates LLC trimmed its position in Visa Inc. (NYSE:V) by 2.7% in the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 123,442 shares of the credit-card processor’s stock after selling 3,481 shares during the period. Visa makes up approximately 1.8% of Chesley Taft & Associates LLC’s holdings, making the stock its 11th biggest holding. Chesley Taft & Associates LLC’s holdings in Visa were worth $42,141,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also bought and sold shares of the company. Family Legacy Financial Solutions LLC acquired a new stake in shares of Visa in the 2nd quarter worth $28,000. Harbor Asset Planning Inc. purchased a new position in shares of Visa in the 2nd quarter valued at approximately $29,000. Sagard Holdings Management Inc. acquired a new stake in Visa in the 2nd quarter worth approximately $31,000. Cranbrook Wealth Management LLC boosted its stake in Visa by 82.0% in the 2nd quarter. Cranbrook Wealth Management LLC now owns 91 shares of the credit-card processor’s stock worth $32,000 after purchasing an additional 41 shares in the last quarter. Finally, Bare Financial Services Inc grew its position in Visa by 287.0% during the 2nd quarter. Bare Financial Services Inc now owns 89 shares of the credit-card processor’s stock worth $32,000 after purchasing an additional 66 shares during the last quarter. 82.15% of the stock is owned by hedge funds and other institutional investors.

Visa Price Performance

Shares of V opened at $346.09 on Friday. The business’s 50-day moving average is $337.37 and its two-hundred day moving average is $344.90. The company has a market capitalization of $630.49 billion, a P/E ratio of 33.90, a P/E/G ratio of 2.03 and a beta of 0.82. Visa Inc. has a fifty-two week low of $299.00 and a fifty-two week high of $375.51. The company has a debt-to-equity ratio of 0.53, a quick ratio of 1.08 and a current ratio of 1.08.

Visa (NYSE:V) last issued its earnings results on Tuesday, October 28th. The credit-card processor reported $2.98 EPS for the quarter, topping analysts’ consensus estimates of $2.97 by $0.01. The firm had revenue of $10.72 billion for the quarter, compared to the consensus estimate of $10.60 billion. Visa had a return on equity of 60.31% and a net margin of 50.15%.The company’s revenue was up 11.5% compared to the same quarter last year. During the same quarter in the prior year, the business earned $2.71 earnings per share. Research analysts predict that Visa Inc. will post 11.3 earnings per share for the current year.

Visa Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, December 1st. Stockholders of record on Wednesday, November 12th were issued a dividend of $0.67 per share. This is a positive change from Visa’s previous quarterly dividend of $0.59. The ex-dividend date of this dividend was Wednesday, November 12th. This represents a $2.68 annualized dividend and a dividend yield of 0.8%. Visa’s payout ratio is presently 26.25%.

Insider Buying and Selling

In related news, CEO Ryan Mcinerney sold 10,485 shares of the stock in a transaction on Monday, November 3rd. The shares were sold at an average price of $341.00, for a total transaction of $3,575,385.00. Following the sale, the chief executive officer directly owned 537 shares of the company’s stock, valued at approximately $183,117. This represents a 95.13% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, insider Paul D. Fabara sold 2,172 shares of Visa stock in a transaction on Friday, November 21st. The shares were sold at an average price of $325.93, for a total transaction of $707,919.96. Following the completion of the transaction, the insider directly owned 26,413 shares of the company’s stock, valued at $8,608,789.09. The trade was a 7.60% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last three months, insiders have sold 24,042 shares of company stock valued at $8,175,152. Corporate insiders own 0.12% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts have issued reports on the stock. Raymond James Financial reaffirmed an “outperform” rating and issued a $408.00 price target (up previously from $398.00) on shares of Visa in a report on Wednesday, October 29th. Morgan Stanley set a $398.00 target price on Visa and gave the stock an “overweight” rating in a research note on Wednesday, October 29th. Wells Fargo & Company raised Visa to a “strong-buy” rating in a research report on Wednesday, October 22nd. Weiss Ratings reissued a “buy (b)” rating on shares of Visa in a report on Wednesday, October 8th. Finally, KeyCorp restated an “overweight” rating and issued a $405.00 price objective on shares of Visa in a research note on Wednesday, October 22nd. Five research analysts have rated the stock with a Strong Buy rating, nineteen have issued a Buy rating and four have assigned a Hold rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Buy” and a consensus target price of $402.52.

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.