Visa Inc. (NYSE:V) Shares Sold by Banque Pictet & Cie SA

Banque Pictet & Cie SA reduced its position in Visa Inc. (NYSE:V) by 0.2% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 561,192 shares of the credit-card processor’s stock after selling 864 shares during the period. Visa makes up approximately 1.3% of Banque Pictet & Cie SA’s holdings, making the stock its 17th largest holding. Banque Pictet & Cie SA’s holdings in Visa were worth $147,296,000 at the end of the most recent quarter.

A number of other institutional investors have also modified their holdings of V. Livelsberger Financial Advisory purchased a new position in Visa in the 4th quarter worth approximately $25,000. Westend Capital Management LLC acquired a new stake in Visa during the 1st quarter valued at $25,000. Frank Rimerman Advisors LLC purchased a new stake in Visa during the 4th quarter worth $33,000. TruNorth Capital Management LLC lifted its holdings in Visa by 211.9% in the 2nd quarter. TruNorth Capital Management LLC now owns 131 shares of the credit-card processor’s stock worth $34,000 after buying an additional 89 shares in the last quarter. Finally, Bbjs Financial Advisors LLC purchased a new position in Visa in the 2nd quarter valued at about $35,000. Hedge funds and other institutional investors own 82.15% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have issued reports on the company. Evercore ISI cut their target price on Visa from $335.00 to $330.00 and set an “outperform” rating on the stock in a research report on Tuesday, June 25th. Mizuho boosted their price objective on Visa from $265.00 to $275.00 and gave the company a “neutral” rating in a report on Thursday, May 2nd. TD Cowen decreased their target price on Visa from $320.00 to $318.00 and set a “buy” rating for the company in a research report on Wednesday, July 24th. Bank of America reissued a “neutral” rating and set a $297.00 price target (down from $305.00) on shares of Visa in a research report on Wednesday, July 10th. Finally, JPMorgan Chase & Co. lifted their price objective on shares of Visa from $290.00 to $320.00 and gave the stock an “overweight” rating in a report on Tuesday, August 20th. Six research analysts have rated the stock with a hold rating, twenty-one have given a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, Visa presently has a consensus rating of “Moderate Buy” and an average price target of $308.50.

Visa Stock Performance

V stock opened at $267.44 on Friday. The company has a 50-day simple moving average of $265.93 and a 200 day simple moving average of $273.28. 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 capitalization of $487.36 billion, a P/E ratio of 29.88, a PEG ratio of 1.89 and a beta of 0.95. Visa Inc. has a fifty-two week low of $227.78 and a fifty-two week high of $290.96.

Visa (NYSE:V) last released its earnings results on Tuesday, July 23rd. The credit-card processor reported $2.42 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $2.42. The firm had revenue of $8.90 billion for the quarter, compared to analyst estimates of $8.92 billion. Visa had a return on equity of 51.94% and a net margin of 54.72%. Visa’s revenue was up 9.6% compared to the same quarter last year. During the same period in the previous year, the company earned $2.16 earnings per share. Sell-side analysts predict that Visa Inc. will post 9.91 earnings per share for the current fiscal year.

Visa Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, September 3rd. Stockholders of record on Friday, August 9th will be given a dividend of $0.52 per share. This represents a $2.08 dividend on an annualized basis and a dividend yield of 0.78%. The ex-dividend date of this dividend is Friday, August 9th. Visa’s dividend payout ratio (DPR) is presently 23.24%.

About Visa

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.