Chesapeake Wealth Management Purchases 463 Shares of Visa Inc (V)
Chesapeake Wealth Management lifted its position in shares of Visa Inc (NYSE:V) by 4.2% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 11,361 shares of the credit-card processor’s stock after buying an additional 463 shares during the period. Chesapeake Wealth Management’s holdings in Visa were worth $1,499,000 at the end of the most recent quarter.
Several other hedge funds have also recently bought and sold shares of V. Highwater Wealth Management LLC bought a new stake in Visa during the fourth quarter worth about $33,000. Ironwood Financial llc raised its holdings in Visa by 67.5% during the fourth quarter. Ironwood Financial llc now owns 335 shares of the credit-card processor’s stock worth $44,000 after acquiring an additional 135 shares in the last quarter. Contravisory Investment Management Inc. raised its holdings in Visa by 180.9% during the fourth quarter. Contravisory Investment Management Inc. now owns 396 shares of the credit-card processor’s stock worth $52,000 after acquiring an additional 255 shares in the last quarter. Financial Gravity Companies Inc. bought a new stake in Visa during the fourth quarter worth about $57,000. Finally, G&S Capital LLC raised its holdings in Visa by 86.0% during the fourth quarter. G&S Capital LLC now owns 519 shares of the credit-card processor’s stock worth $68,000 after acquiring an additional 240 shares in the last quarter. 81.42% of the stock is owned by institutional investors.
V has been the topic of several analyst reports. Jefferies Financial Group initiated coverage on Visa in a report on Monday, January 28th. They set a “buy” rating and a $135.99 target price on the stock. Deutsche Bank upped their target price on Visa from $160.00 to $177.00 and gave the stock a “buy” rating in a report on Thursday, March 21st. Robert W. Baird set a $182.00 target price on Visa and gave the stock an “outperform” rating in a report on Wednesday, May 8th. Nomura upped their target price on Visa from $175.00 to $178.00 and gave the stock a “buy” rating in a report on Thursday, April 25th. Finally, BMO Capital Markets upped their target price on Visa to $214.00 and gave the stock an “outperform” rating in a report on Friday, April 26th. Two equities research analysts have rated the stock with a hold rating and twenty-four have given a buy rating to the company’s stock. Visa currently has an average rating of “Buy” and a consensus price target of $177.42.
Visa (NYSE:V) last released its quarterly earnings data on Wednesday, April 24th. The credit-card processor reported $1.31 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.24 by $0.07. The firm had revenue of $5.49 billion for the quarter, compared to analyst estimates of $5.46 billion. Visa had a return on equity of 40.56% and a net margin of 51.34%. The business’s revenue for the quarter was up 8.3% compared to the same quarter last year. During the same quarter in the prior year, the company earned $1.11 earnings per share. Equities research analysts predict that Visa Inc will post 5.38 EPS for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 4th. Shareholders of record on Friday, May 17th will be paid a $0.25 dividend. The ex-dividend date is Thursday, May 16th. This represents a $1.00 annualized dividend and a yield of 0.61%. Visa’s dividend payout ratio is 21.69%.
In other news, EVP Tullier Kelly Mahon sold 91,046 shares of the stock in a transaction that occurred on Friday, March 15th. The stock was sold at an average price of $156.29, for a total transaction of $14,229,579.34. Following the transaction, the executive vice president now owns 120,602 shares in the company, valued at $18,848,886.58. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, EVP Lynne Biggar sold 15,000 shares of the stock in a transaction that occurred on Monday, March 11th. The stock was sold at an average price of $150.00, for a total value of $2,250,000.00. Following the transaction, the executive vice president now owns 22,294 shares in the company, valued at approximately $3,344,100. The disclosure for this sale can be found here. Insiders sold 188,202 shares of company stock worth $29,962,762 in the last 90 days. Corporate insiders own 0.17% of the company’s stock.
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Visa Inc operates as a payments technology company worldwide. The company facilitates commerce through the transfer of value and information among consumers, merchants, financial institutions, businesses, strategic partners, and government entities. It operates VisaNet, a processing network that enables authorization, clearing, and settlement of payment transactions; and offers fraud protection for account holders and assured payment for merchants.
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