Canton Hathaway LLC Lowers Stake in Visa Inc. (NYSE:V)

Canton Hathaway LLC lowered its position in shares of Visa Inc. (NYSE:V) by 4.5% during the 3rd quarter, Holdings Channel.com reports. The firm owned 15,834 shares of the credit-card processor’s stock after selling 744 shares during the period. Visa accounts for 1.0% of Canton Hathaway LLC’s investment portfolio, making the stock its 15th largest holding. Canton Hathaway LLC’s holdings in Visa were worth $3,527,000 at the end of the most recent reporting period.

Other large investors have also recently modified their holdings of the company. Amundi purchased a new position in shares of Visa in the second quarter worth $1,091,544,000. Alliancebernstein L.P. lifted its holdings in shares of Visa by 10.7% in the second quarter. Alliancebernstein L.P. now owns 20,743,603 shares of the credit-card processor’s stock worth $4,850,269,000 after buying an additional 2,009,038 shares in the last quarter. Macquarie Group Ltd. lifted its holdings in shares of Visa by 84.3% in the second quarter. Macquarie Group Ltd. now owns 2,811,153 shares of the credit-card processor’s stock worth $657,304,000 after buying an additional 1,286,151 shares in the last quarter. Geode Capital Management LLC lifted its holdings in shares of Visa by 4.5% in the second quarter. Geode Capital Management LLC now owns 28,005,159 shares of the credit-card processor’s stock worth $6,529,879,000 after buying an additional 1,200,144 shares in the last quarter. Finally, Vontobel Asset Management Inc. lifted its holdings in shares of Visa by 37.8% in the second quarter. Vontobel Asset Management Inc. now owns 3,816,615 shares of the credit-card processor’s stock worth $922,780,000 after buying an additional 1,047,776 shares in the last quarter. 80.54% of the stock is currently owned by institutional investors and hedge funds.

Several equities analysts have recently commented on V shares. Truist boosted their target price on shares of Visa from $250.00 to $275.00 and gave the stock a “buy” rating in a report on Wednesday, July 28th. Zacks Investment Research downgraded shares of Visa from a “buy” rating to a “hold” rating and set a $227.00 price target on the stock. in a research note on Thursday, October 28th. Wedbush upped their price target on shares of Visa from $250.00 to $270.00 and gave the company an “outperform” rating in a research note on Wednesday, July 28th. Citigroup decreased their price target on shares of Visa from $288.00 to $285.00 and set a “buy” rating on the stock in a research note on Thursday, October 28th. Finally, Susquehanna Bancshares upped their price target on shares of Visa from $265.00 to $290.00 and gave the company a “positive” rating in a research note on Wednesday, July 28th. Two equities research analysts have rated the stock with a hold rating and twenty-five have issued a buy rating to the company’s stock. According to data from MarketBeat.com, Visa presently has an average rating of “Buy” and a consensus price target of $270.11.

Shares of NYSE V traded up $4.76 during mid-day trading on Thursday, reaching $203.25. The company had a trading volume of 12,022,669 shares, compared to its average volume of 8,681,419. The business’s 50-day moving average is $219.79 and its 200-day moving average is $228.86. The company has a current ratio of 1.75, a quick ratio of 2.00 and a debt-to-equity ratio of 0.58. The stock has a market cap of $395.92 billion, a price-to-earnings ratio of 36.10, a price-to-earnings-growth ratio of 1.88 and a beta of 0.92. Visa Inc. has a 52 week low of $192.81 and a 52 week high of $252.67.

Visa (NYSE:V) last issued its earnings results on Tuesday, October 26th. The credit-card processor reported $1.62 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $1.53 by $0.09. Visa had a net margin of 51.07% and a return on equity of 37.62%. The company had revenue of $6.56 billion for the quarter, compared to analysts’ expectations of $6.51 billion. During the same period in the prior year, the business earned $1.12 EPS. The firm’s quarterly revenue was up 28.6% on a year-over-year basis. As a group, equities research analysts forecast that Visa Inc. will post 7.05 earnings per share for the current year.

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, December 7th. Shareholders of record on Friday, November 12th will be issued a dividend of $0.375 per share. This represents a $1.50 annualized dividend and a yield of 0.74%. This is a boost from Visa’s previous quarterly dividend of $0.32. The ex-dividend date of this dividend is Wednesday, November 10th. Visa’s dividend payout ratio is presently 26.64%.

In other Visa news, President Ryan Mcinerney sold 11,193 shares of the stock in a transaction dated Wednesday, September 1st. The shares were sold at an average price of $229.10, for a total transaction of $2,564,316.30. Following the completion of the sale, the president now directly owns 11,193 shares of the company’s stock, valued at $2,564,316.30. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CEO Alfred F. Kelly, Jr. sold 9,000 shares of the stock in a transaction that occurred on Friday, October 29th. The shares were sold at an average price of $208.57, for a total transaction of $1,877,130.00. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 51,580 shares of company stock worth $11,376,866. 0.19% of the stock is owned by company insiders.

About Visa

Visa, Inc engages in the provision of digital payment services. It also facilitates global commerce through the transfer of value and information among global network of consumers, merchants, financial institutions, businesses, strategic partners, and government entities. It offers debit card, credit card, prepaid products, commercial payment solutions, and global ATM.

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Institutional Ownership by Quarter for Visa (NYSE:V)

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