Charter Oak Capital Management LLC Has $738,000 Position in Visa Inc. (NYSE:V)

Charter Oak Capital Management LLC raised its stake in shares of Visa Inc. (NYSE:V) by 11.2% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 2,105 shares of the credit-card processor’s stock after buying an additional 212 shares during the quarter. Charter Oak Capital Management LLC’s holdings in Visa were worth $738,000 at the end of the most recent reporting period.

Several other institutional investors also recently modified their holdings of V. Capital & Planning LLC lifted its holdings in shares of Visa by 21.2% during the 4th quarter. Capital & Planning LLC now owns 949 shares of the credit-card processor’s stock valued at $300,000 after purchasing an additional 166 shares in the last quarter. Sovereign Investment Advisors LLC bought a new position in shares of Visa during the 4th quarter valued at about $424,000. Brighton Jones LLC lifted its holdings in shares of Visa by 50.1% during the 4th quarter. Brighton Jones LLC now owns 20,635 shares of the credit-card processor’s stock valued at $6,522,000 after purchasing an additional 6,883 shares in the last quarter. Union Bancaire Privee UBP SA bought a new position in shares of Visa during the 4th quarter valued at about $202,074,000. Finally, Revolve Wealth Partners LLC lifted its stake in Visa by 68.9% in the 4th quarter. Revolve Wealth Partners LLC now owns 11,811 shares of the credit-card processor’s stock valued at $3,733,000 after acquiring an additional 4,817 shares in the last quarter. 82.15% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of equities analysts have weighed in on V shares. Oppenheimer reaffirmed an “outperform” rating on shares of Visa in a research report on Thursday, February 13th. UBS Group upped their price objective on Visa from $395.00 to $405.00 and gave the stock a “buy” rating in a research note on Wednesday, May 28th. Piper Sandler upped their price objective on Visa from $383.00 to $384.00 and gave the stock an “overweight” rating in a research note on Wednesday, April 30th. Evercore ISI began coverage on Visa in a research note on Wednesday, April 9th. They set an “in-line” rating and a $330.00 price objective on the stock. Finally, The Goldman Sachs Group began coverage on Visa in a research note on Monday, June 2nd. They set a “neutral” rating on the stock. Five equities research analysts have rated the stock with a hold rating, twenty-three have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $372.80.

Insiders Place Their Bets

In other news, CEO Ryan Mcinerney sold 8,620 shares of the stock in a transaction on Thursday, May 1st. The stock was sold at an average price of $345.58, for a total transaction of $2,978,899.60. Following the sale, the chief executive officer now directly owns 537 shares of the company’s stock, valued at approximately $185,576.46. This represents a 94.14% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Paul D. Fabara sold 39,350 shares of the stock in a transaction on Wednesday, March 19th. The stock was sold at an average price of $340.41, for a total value of $13,395,133.50. Following the sale, the insider now directly owns 26,413 shares in the company, valued at approximately $8,991,249.33. This trade represents a 59.84% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 168,162 shares of company stock worth $58,645,479 in the last 90 days. Company insiders own 0.13% of the company’s stock.

Visa Stock Up 1.0%

V stock opened at $370.44 on Friday. The company has a debt-to-equity ratio of 0.45, a current ratio of 1.12 and a quick ratio of 1.12. The stock has a market capitalization of $683.52 billion, a price-to-earnings ratio of 37.34, a PEG ratio of 2.33 and a beta of 0.94. The business’s fifty day moving average price is $345.45 and its two-hundred day moving average price is $335.70. Visa Inc. has a fifty-two week low of $252.70 and a fifty-two week high of $371.00.

Visa (NYSE:V) last posted its quarterly earnings data on Tuesday, April 29th. The credit-card processor reported $2.76 earnings per share for the quarter, topping the consensus estimate of $2.68 by $0.08. The firm had revenue of $9.59 billion for the quarter, compared to analysts’ expectations of $9.57 billion. Visa had a return on equity of 54.79% and a net margin of 54.27%. The company’s quarterly revenue was up 9.3% compared to the same quarter last year. During the same quarter last year, the business earned $2.51 EPS. On average, equities analysts anticipate that Visa Inc. will post 11.3 earnings per share for the current year.

Visa Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, June 2nd. Shareholders of record on Tuesday, May 13th were given a dividend of $0.59 per share. This represents a $2.36 annualized dividend and a yield of 0.64%. The ex-dividend date was Tuesday, May 13th. Visa’s payout ratio is 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.