Charter Oak Capital Management LLC Has $1.01 Million Stake in Visa Inc. $V

Key Points

• Charter Oak Capital Management LLC has increased its stake in Visa Inc. by 35.2%, now owning 2,847 shares valued at over $1 million.
• Visa reported earnings of $2.98 per share for its latest quarter, exceeding estimates, while year-over-year revenue rose by 14.3%.
• Multiple analysts have recently upgraded Visa's stock rating to "outperform" with price targets ranging between $390.00 and $425.00.

Charter Oak Capital Management LLC lifted its stake in shares of Visa Inc. (NYSE:V - Free Report) by 35.2% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 2,847 shares of the credit-card processor's stock after acquiring an additional 742 shares during the period. Charter Oak Capital Management LLC's holdings in Visa were worth $1,011,000 as of its most recent SEC filing.

A number of other hedge funds have also recently added to or reduced their stakes in the business. Yeomans Consulting Group Inc. increased its position in shares of Visa by 2.9% during the first quarter. Yeomans Consulting Group Inc. now owns 1,027 shares of the credit-card processor's stock valued at $360,000 after purchasing an additional 29 shares during the period. Semus Wealth Partners LLC raised its holdings in Visa by 0.8% in the 1st quarter. Semus Wealth Partners LLC now owns 3,449 shares of the credit-card processor's stock valued at $1,209,000 after acquiring an additional 29 shares in the last quarter. Kennebec Savings Bank grew its position in Visa by 0.9% during the 1st quarter. Kennebec Savings Bank now owns 3,372 shares of the credit-card processor's stock worth $1,182,000 after acquiring an additional 30 shares during the last quarter. Capital Advisors Ltd. LLC boosted its position in shares of Visa by 0.8% during the 1st quarter. Capital Advisors Ltd. LLC now owns 3,839 shares of the credit-card processor's stock valued at $1,345,000 after purchasing an additional 30 shares in the last quarter. Finally, Wood Tarver Financial Group LLC raised its stake in shares of Visa by 11.1% in the first quarter. Wood Tarver Financial Group LLC now owns 301 shares of the credit-card processor's stock worth $105,000 after purchasing an additional 30 shares during the last quarter. Institutional investors and hedge funds own 82.15% of the company's stock.

Wall Street Analyst Weigh In

A number of research firms have weighed in on V. Mizuho upgraded Visa from a "neutral" rating to an "outperform" rating and raised their price target for the company from $359.00 to $425.00 in a research report on Thursday, June 5th. Jefferies Financial Group raised their price target on Visa from $400.00 to $410.00 and gave the company a "buy" rating in a research note on Tuesday, May 27th. Truist Financial reduced their price target on Visa from $400.00 to $397.00 and set a "buy" rating for the company in a research report on Thursday, July 17th. Raymond James Financial reissued an "outperform" rating on shares of Visa in a research note on Wednesday, July 30th. Finally, Barclays reiterated an "overweight" rating and issued a $408.00 price objective (up previously from $396.00) on shares of Visa in a report on Thursday, July 31st. One equities research analyst has rated the stock with a Strong Buy rating, twenty have given a Buy rating and six have assigned a Hold rating to the company. According to data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus target price of $385.96.

Visa Stock Performance

Shares of V stock traded down $3.48 during trading on Tuesday, reaching $340.89. 1,371,555 shares of the company's stock traded hands, compared to its average volume of 6,440,473. The firm's 50-day moving average is $345.58 and its 200 day moving average is $346.37. The company has a market capitalization of $624.77 billion, a P/E ratio of 33.36, a PEG ratio of 2.27 and a beta of 0.92. Visa Inc. has a 1 year low of $268.23 and a 1 year high of $375.51. The company has a current ratio of 1.12, a quick ratio of 1.12 and a debt-to-equity ratio of 0.52.

Visa (NYSE:V - Get Free Report) last released its quarterly earnings data on Tuesday, July 29th. The credit-card processor reported $2.98 earnings per share for the quarter, beating analysts' consensus estimates of $2.85 by $0.13. The business had revenue of $10.17 billion during the quarter, compared to analyst estimates of $9.82 billion. Visa had a net margin of 52.16% and a return on equity of 58.93%. Visa's revenue was up 14.3% compared to the same quarter last year. During the same period last year, the business earned $2.42 EPS. Equities research analysts expect that Visa Inc. will post 11.3 EPS for the current year.

Visa Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, September 2nd. Investors of record on Tuesday, August 12th were paid a $0.59 dividend. The ex-dividend date of this dividend was Tuesday, August 12th. This represents a $2.36 dividend on an annualized basis and a yield of 0.7%. Visa's dividend payout ratio (DPR) is currently 23.05%.

Insiders Place Their Bets

In related news, General Counsel Julie B. Rottenberg sold 2,027 shares of the business's stock in a transaction dated Monday, August 18th. The shares were sold at an average price of $344.02, for a total value of $697,328.54. Following the sale, the general counsel directly owned 11,925 shares in the company, valued at approximately $4,102,438.50. The trade was a 14.53% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Ryan Mcinerney sold 8,630 shares of the company's stock in a transaction that occurred on Tuesday, July 1st. The shares were sold at an average price of $353.82, for a total value of $3,053,466.60. Following the completion of the transaction, the chief executive officer directly owned 537 shares of the company's stock, valued at $190,001.34. This trade represents a 94.14% decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.13% of the stock is currently owned by company insiders.

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.