Visa Inc. (NYSE:V) Shares Bought by Canton Hathaway LLC

Canton Hathaway LLC grew its position in Visa Inc. (NYSE:V) by 52.9% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 16,766 shares of the credit-card processor’s stock after buying an additional 5,800 shares during the quarter. Visa makes up approximately 1.2% of Canton Hathaway LLC’s portfolio, making the stock its 10th largest position. Canton Hathaway LLC’s holdings in Visa were worth $5,876,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently made changes to their positions in the company. Bradley & Co. Private Wealth Management LLC acquired a new stake in shares of Visa during the fourth quarter worth approximately $27,000. Compass Planning Associates Inc acquired a new stake in shares of Visa during the fourth quarter worth approximately $32,000. FPC Investment Advisory Inc. boosted its holdings in shares of Visa by 377.3% during the fourth quarter. FPC Investment Advisory Inc. now owns 105 shares of the credit-card processor’s stock worth $36,000 after purchasing an additional 83 shares during the period. NewSquare Capital LLC acquired a new stake in shares of Visa during the fourth quarter worth approximately $35,000. Finally, Sellwood Investment Partners LLC acquired a new stake in shares of Visa during the fourth quarter worth approximately $41,000. 82.15% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at Visa

In other news, General Counsel Julie B. Rottenberg sold 2,575 shares of the firm’s stock in a transaction on Thursday, May 1st. The shares were sold at an average price of $345.58, for a total value of $889,868.50. Following the sale, the general counsel now owns 11,925 shares in the company, valued at approximately $4,121,041.50. This trade represents a 17.76% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, insider Paul D. Fabara sold 14,813 shares of the firm’s stock in a transaction on Thursday, May 8th. The stock was sold at an average price of $355.04, for a total transaction of $5,259,207.52. Following the completion of the sale, the insider now owns 26,413 shares in the company, valued at approximately $9,377,671.52. The trade was a 35.93% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 101,098 shares of company stock worth $36,738,526. Insiders own 0.13% of the company’s stock.

Visa Trading Down 0.7%

NYSE:V opened at $338.04 on Friday. Visa Inc. has a 12 month low of $252.70 and a 12 month high of $375.51. The firm has a market cap of $623.73 billion, a price-to-earnings ratio of 33.97, a P/E/G ratio of 2.28 and a beta of 0.94. The company has a quick ratio of 1.08, a current ratio of 1.08 and a debt-to-equity ratio of 0.45. The company’s 50 day moving average is $351.78 and its 200-day moving average is $338.74.

Visa (NYSE:V) last released its quarterly earnings results on Tuesday, April 29th. The credit-card processor reported $2.76 EPS for the quarter, beating analysts’ consensus estimates of $2.68 by $0.08. The company had revenue of $9.59 billion for the quarter, compared to analyst estimates of $9.57 billion. Visa had a net margin of 52.86% and a return on equity of 56.28%. The company’s quarterly revenue was up 9.3% compared to the same quarter last year. During the same quarter last year, the firm posted $2.51 earnings per share. Equities analysts anticipate that Visa Inc. will post 11.3 EPS for the current year.

Visa Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, June 2nd. Stockholders of record on Tuesday, May 13th were paid a $0.59 dividend. The ex-dividend date was Tuesday, May 13th. This represents a $2.36 annualized dividend and a dividend yield of 0.70%. Visa’s payout ratio is 23.72%.

Analyst Ratings Changes

V has been the subject of several research reports. Piper Sandler raised their price target on shares of Visa from $383.00 to $384.00 and gave the stock an “overweight” rating in a report on Wednesday, April 30th. Jefferies Financial Group raised their price target on shares of Visa from $400.00 to $410.00 and gave the stock a “buy” rating in a report on Tuesday, May 27th. The Goldman Sachs Group assumed coverage on shares of Visa in a research report on Monday, June 2nd. They set a “neutral” rating on the stock. Barclays reaffirmed an “overweight” rating on shares of Visa in a research report on Friday, June 13th. Finally, BMO Capital Markets raised their price objective on shares of Visa from $370.00 to $380.00 and gave the company an “outperform” rating in a research report on Wednesday, April 30th. Five investment analysts have rated the stock with a hold rating, twenty-three have issued a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, Visa presently has an average rating of “Moderate Buy” and an average target price of $372.80.

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.