Visa Inc. (NYSE:V) Position Increased by Canton Hathaway LLC

Canton Hathaway LLC lifted its holdings in shares of Visa Inc. (NYSE:V - Free Report) by 52.9% during the first quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 16,766 shares of the credit-card processor's stock after acquiring an additional 5,800 shares during the quarter. Visa accounts for about 1.2% of Canton Hathaway LLC's investment portfolio, making the stock its 10th biggest position. Canton Hathaway LLC's holdings in Visa were worth $5,876,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also modified their holdings of the company. Bradley & Co. Private Wealth Management LLC purchased a new stake in shares of Visa during the fourth quarter worth about $27,000. Compass Planning Associates Inc acquired a new position in Visa in the fourth quarter valued at approximately $32,000. FPC Investment Advisory Inc. boosted its stake in Visa by 377.3% in the fourth quarter. FPC Investment Advisory Inc. now owns 105 shares of the credit-card processor's stock valued at $36,000 after acquiring an additional 83 shares during the period. NewSquare Capital LLC acquired a new position in Visa in the fourth quarter valued at approximately $35,000. Finally, Sellwood Investment Partners LLC acquired a new position in Visa in the fourth quarter valued at approximately $41,000. 82.15% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In other Visa news, insider Paul D. Fabara sold 11,636 shares of the firm's stock in a transaction dated Wednesday, June 11th. The shares were sold at an average price of $375.00, for a total value of $4,363,500.00. Following the completion of the transaction, the insider now directly owns 26,413 shares in the company, valued at $9,904,875. This trade represents a 30.58% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Also, General Counsel Julie B. Rottenberg sold 2,575 shares of the firm's stock in a transaction dated Thursday, May 1st. The stock was sold at an average price of $345.58, for a total transaction of $889,868.50. Following the completion of the transaction, the general counsel now owns 11,925 shares of the company's stock, valued at approximately $4,121,041.50. The trade was a 17.76% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 101,098 shares of company stock worth $36,738,526. Insiders own 0.13% of the company's stock.

Wall Street Analysts Forecast Growth

A number of brokerages have commented on V. William Blair restated an "outperform" rating on shares of Visa in a research note on Wednesday, April 30th. BMO Capital Markets lifted their target price on Visa from $370.00 to $380.00 and gave the company an "outperform" rating in a research note on Wednesday, April 30th. Barclays restated an "overweight" rating on shares of Visa in a research note on Friday, June 13th. The Goldman Sachs Group started coverage on Visa in a research report on Monday, June 2nd. They set a "neutral" rating for the company. Finally, Jefferies Financial Group boosted their price objective on Visa from $400.00 to $410.00 and gave the stock a "buy" rating in a research report on Tuesday, May 27th. Five equities research analysts have rated the stock with a hold rating, twenty-three have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the company has a consensus rating of "Moderate Buy" and an average price target of $372.80.

Visa Price Performance

Shares of 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 stock has a market cap of $623.73 billion, a price-to-earnings ratio of 33.97, a PEG ratio of 2.28 and a beta of 0.94. The stock's 50 day moving average price is $351.78 and its 200 day moving average price is $338.74. The company has a debt-to-equity ratio of 0.45, a current ratio of 1.08 and a quick ratio of 1.08.

Visa (NYSE:V - Get Free Report) last announced its earnings results on Tuesday, April 29th. The credit-card processor reported $2.76 EPS for the quarter, topping the consensus estimate of $2.68 by $0.08. Visa had a return on equity of 56.28% and a net margin of 52.86%. The firm had revenue of $9.59 billion for the quarter, compared to analysts' expectations of $9.57 billion. During the same quarter in the previous year, the company earned $2.51 earnings per share. The firm's quarterly revenue was up 9.3% compared to the same quarter last year. Equities research analysts anticipate that Visa Inc. will post 11.3 earnings per share for the current fiscal year.

Visa Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, June 2nd. Shareholders of record on Tuesday, May 13th were issued 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 dividend payout ratio is currently 23.72%.

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.

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