Canton Hathaway LLC reduced its holdings in Visa Inc. (NYSE:V – Get Rating) by 1.1% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 11,816 shares of the credit-card processor’s stock after selling 132 shares during the period. Visa comprises 0.7% of Canton Hathaway LLC’s holdings, making the stock its 22nd largest position. Canton Hathaway LLC’s holdings in Visa were worth $2,620,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Osher Van de Voorde Investment Management lifted its position in shares of Visa by 39.1% in the fourth quarter. Osher Van de Voorde Investment Management now owns 82,595 shares of the credit-card processor’s stock valued at $17,899,000 after acquiring an additional 23,229 shares in the last quarter. Forum Financial Management LP purchased a new position in Visa during the fourth quarter worth approximately $2,945,000. Bromfield Sneider Wealth Advisors purchased a new position in Visa during the first quarter worth approximately $180,000. Gradient Investments LLC lifted its position in Visa by 21.5% during the fourth quarter. Gradient Investments LLC now owns 82,912 shares of the credit-card processor’s stock worth $17,968,000 after buying an additional 14,674 shares in the last quarter. Finally, Field & Main Bank lifted its position in Visa by 1.6% during the fourth quarter. Field & Main Bank now owns 16,144 shares of the credit-card processor’s stock worth $3,498,000 after buying an additional 260 shares in the last quarter. Institutional investors and hedge funds own 80.77% of the company’s stock.
In other news, President Ryan Mcinerney sold 6,467 shares of the company’s stock in a transaction dated Friday, April 1st. The stock was sold at an average price of $223.65, for a total transaction of $1,446,344.55. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Alfred F. Kelly, Jr. sold 9,000 shares of the business’s stock in a transaction dated Friday, April 29th. The shares were sold at an average price of $218.62, for a total value of $1,967,580.00. Following the completion of the sale, the chief executive officer now directly owns 165,887 shares of the company’s stock, valued at $36,266,215.94. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 39,933 shares of company stock valued at $8,745,055. Insiders own 0.21% of the company’s stock.
V opened at $196.64 on Friday. Visa Inc. has a 12 month low of $185.91 and a 12 month high of $252.67. The stock has a market capitalization of $373.87 billion, a price-to-earnings ratio of 30.92, a PEG ratio of 1.65 and a beta of 0.90. The company has a debt-to-equity ratio of 0.53, a current ratio of 1.29 and a quick ratio of 1.29. The business has a fifty day moving average price of $204.82 and a 200 day moving average price of $212.19.
Visa (NYSE:V – Get Rating) last released its earnings results on Tuesday, April 26th. The credit-card processor reported $1.79 EPS for the quarter, topping the consensus estimate of $1.65 by $0.14. The firm had revenue of $7.19 billion during the quarter, compared to analysts’ expectations of $6.82 billion. Visa had a return on equity of 42.89% and a net margin of 51.10%. Visa’s revenue for the quarter was up 25.5% on a year-over-year basis. During the same period in the previous year, the firm posted $1.38 EPS. On average, research analysts anticipate that Visa Inc. will post 7.16 earnings per share for the current year.
The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, June 1st. Stockholders of record on Friday, May 13th were given a dividend of $0.375 per share. The ex-dividend date of this dividend was Thursday, May 12th. This represents a $1.50 annualized dividend and a dividend yield of 0.76%. Visa’s dividend payout ratio is currently 23.58%.
A number of equities analysts recently commented on the company. Barclays reduced their objective price on Visa from $265.00 to $260.00 and set an “overweight” rating on the stock in a research report on Monday, April 4th. Credit Suisse Group lifted their objective price on Visa from $260.00 to $265.00 and gave the stock an “outperform” rating in a research report on Wednesday, April 27th. Piper Sandler downgraded Visa from an “overweight” rating to a “neutral” rating and reduced their price objective for the stock from $283.00 to $239.00 in a research report on Friday, April 29th. The Goldman Sachs Group started coverage on Visa in a research report on Tuesday, May 17th. They set a “buy” rating and a $282.00 price objective on the stock. Finally, Citigroup reduced their target price on Visa from $285.00 to $265.00 in a research report on Monday, April 25th. Five analysts have rated the stock with a hold rating and twenty-one have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $267.44.
Visa Company Profile (Get Rating)
Visa Inc operates as a payments technology company worldwide. The company facilitates digital payments among consumers, merchants, financial institutions, businesses, strategic partners, and government entities. It operates VisaNet, a transaction processing network that enables authorization, clearing, and settlement of payment transactions.
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