Baxter Bros Inc. Lowers Holdings in Visa Inc. (NYSE:V)

Baxter Bros Inc. trimmed its stake in Visa Inc. (NYSE:V) by 1.9% during the second quarter, HoldingsChannel.com reports. The fund owned 105,389 shares of the credit-card processor’s stock after selling 2,058 shares during the quarter. Visa accounts for about 3.6% of Baxter Bros Inc.’s holdings, making the stock its 6th largest position. Baxter Bros Inc.’s holdings in Visa were worth $27,661,000 at the end of the most recent quarter.

A number of other large investors have also recently bought and sold shares of the stock. Livelsberger Financial Advisory bought a new stake in shares of Visa during the fourth quarter worth $25,000. Westend Capital Management LLC acquired a new position in shares of Visa during the first quarter valued at $25,000. Frank Rimerman Advisors LLC acquired a new position in shares of Visa during the fourth quarter valued at $33,000. Abich Financial Wealth Management LLC lifted its stake in shares of Visa by 52.9% during the first quarter. Abich Financial Wealth Management LLC now owns 133 shares of the credit-card processor’s stock valued at $37,000 after acquiring an additional 46 shares during the period. Finally, Vermillion & White Wealth Management Group LLC acquired a new position in shares of Visa during the fourth quarter valued at $40,000. 82.15% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several equities analysts have recently issued reports on V shares. Jefferies Financial Group cut their price target on Visa from $325.00 to $300.00 and set a “buy” rating on the stock in a research note on Wednesday, July 24th. Macquarie reissued an “outperform” rating and issued a $300.00 target price on shares of Visa in a research note on Wednesday, July 24th. Royal Bank of Canada cut their target price on Visa from $315.00 to $311.00 and set an “outperform” rating on the stock in a research note on Wednesday, July 24th. Bank of America reissued a “neutral” rating and issued a $297.00 target price (down previously from $305.00) on shares of Visa in a research note on Wednesday, July 10th. Finally, TD Cowen cut their target price on Visa from $320.00 to $318.00 and set a “buy” rating on the stock in a research note on Wednesday, July 24th. Six equities research analysts have rated the stock with a hold rating, twenty-one have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $307.25.

Visa Stock Up 0.3 %

Shares of NYSE:V traded up $0.81 during mid-day trading on Tuesday, reaching $260.70. 4,130,688 shares of the stock were exchanged, compared to its average volume of 7,181,072. The company has a quick ratio of 1.37, a current ratio of 1.37 and a debt-to-equity ratio of 0.54. The company has a market cap of $475.08 billion, a P/E ratio of 29.03, a P/E/G ratio of 1.83 and a beta of 0.95. Visa Inc. has a one year low of $227.78 and a one year high of $290.96. The stock’s 50 day simple moving average is $267.35 and its 200-day simple moving average is $273.83.

Visa (NYSE:V) last posted its quarterly earnings results on Tuesday, July 23rd. The credit-card processor reported $2.42 earnings per share for the quarter, meeting analysts’ consensus estimates of $2.42. The firm had revenue of $8.90 billion during the quarter, compared to the consensus estimate of $8.92 billion. Visa had a return on equity of 51.94% and a net margin of 54.72%. The business’s revenue was up 9.6% compared to the same quarter last year. During the same period last year, the company earned $2.16 earnings per share. As a group, equities research analysts predict that Visa Inc. will post 9.91 EPS for the current year.

Visa Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, September 3rd. Shareholders of record on Friday, August 9th will be paid a $0.52 dividend. The ex-dividend date is Friday, August 9th. This represents a $2.08 dividend on an annualized basis and a yield of 0.80%. Visa’s dividend payout ratio is 23.24%.

Insider Buying and Selling at Visa

In other news, insider Paul D. Fabara sold 25,293 shares of Visa stock in a transaction that occurred on Wednesday, May 15th. The stock was sold at an average price of $277.15, for a total transaction of $7,009,954.95. Following the completion of the transaction, the insider now directly owns 17,894 shares in the company, valued at approximately $4,959,322.10. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 0.19% of the company’s stock.

Visa Company 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.