Baskin Financial Services Inc. Acquires 779 Shares of Visa Inc. (V)

Baskin Financial Services Inc. raised its holdings in Visa Inc. (NYSE:V) by 0.5% in the second quarter, according to the company in its most recent disclosure with the SEC. The fund owned 146,363 shares of the credit-card processor’s stock after buying an additional 779 shares during the quarter. Visa comprises 2.9% of Baskin Financial Services Inc.’s holdings, making the stock its 14th largest position. Baskin Financial Services Inc.’s holdings in Visa were worth $13,726,000 as of its most recent SEC filing.

A number of other institutional investors have also added to or reduced their stakes in V. Mercer Capital Advisers Inc. increased its holdings in shares of Visa by 2.2% in the first quarter. Mercer Capital Advisers Inc. now owns 1,167 shares of the credit-card processor’s stock valued at $104,000 after purchasing an additional 25 shares during the period. Mascoma Wealth Management LLC acquired a new position in shares of Visa in the second quarter valued at about $122,000. SpiderRock Advisors LLC increased its holdings in shares of Visa by 107.1% in the second quarter. SpiderRock Advisors LLC now owns 1,309 shares of the credit-card processor’s stock valued at $124,000 after purchasing an additional 19,709 shares during the period. Advantage Investment Management LLC increased its holdings in shares of Visa by 27.4% in the first quarter. Advantage Investment Management LLC now owns 1,462 shares of the credit-card processor’s stock valued at $130,000 after purchasing an additional 314 shares during the period. Finally, Delta Asset Management LLC TN increased its holdings in shares of Visa by 2.5% in the first quarter. Delta Asset Management LLC TN now owns 1,541 shares of the credit-card processor’s stock valued at $137,000 after purchasing an additional 38 shares during the period. Institutional investors own 81.68% of the company’s stock.

In related news, Director Mary B. Cranston sold 10,400 shares of the stock in a transaction on Thursday, August 17th. The stock was sold at an average price of $103.32, for a total value of $1,074,528.00. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, EVP Tullier Kelly Mahon sold 29,772 shares of the stock in a transaction on Thursday, July 27th. The stock was sold at an average price of $100.91, for a total value of $3,004,292.52. Following the completion of the transaction, the executive vice president now directly owns 17,360 shares in the company, valued at $1,751,797.60. The disclosure for this sale can be found here. Corporate insiders own 0.14% of the company’s stock.

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Shares of Visa Inc. (NYSE:V) opened at 105.56 on Friday. Visa Inc. has a 1-year low of $75.17 and a 1-year high of $106.84. The firm has a market cap of $241.36 billion, a PE ratio of 39.26 and a beta of 0.94. The firm’s 50-day moving average price is $103.15 and its 200 day moving average price is $95.55.

Visa (NYSE:V) last issued its quarterly earnings results on Thursday, July 20th. The credit-card processor reported $0.86 earnings per share for the quarter, topping analysts’ consensus estimates of $0.81 by $0.05. Visa had a return on equity of 30.95% and a net margin of 36.53%. The company had revenue of $4.57 billion for the quarter, compared to analyst estimates of $4.36 billion. During the same quarter in the prior year, the company posted $0.69 EPS. The business’s revenue for the quarter was up 25.8% compared to the same quarter last year. On average, equities research analysts forecast that Visa Inc. will post $3.43 EPS for the current fiscal year.

The firm also recently declared a quarterly dividend, which was paid on Tuesday, September 5th. Shareholders of record on Friday, August 18th were paid a dividend of $0.165 per share. This represents a $0.66 dividend on an annualized basis and a dividend yield of 0.63%. The ex-dividend date of this dividend was Wednesday, August 16th. Visa’s dividend payout ratio is presently 24.54%.

A number of research analysts have recently weighed in on V shares. Zacks Investment Research lowered Visa from a “buy” rating to a “hold” rating in a report on Friday, May 26th. Vetr lowered Visa from a “hold” rating to a “sell” rating and set a $92.84 price objective on the stock. in a report on Monday, June 5th. Wedbush reissued an “outperform” rating and issued a $100.00 price objective (up from $96.00) on shares of Visa in a report on Tuesday, June 6th. BidaskClub lowered Visa from a “strong-buy” rating to a “buy” rating in a report on Tuesday, June 13th. Finally, Sandler O’Neill reaffirmed a “hold” rating on shares of Visa in a report on Wednesday, June 21st. Four research analysts have rated the stock with a hold rating, twenty-seven have given a buy rating and one has given a strong buy rating to the stock. The company has an average rating of “Buy” and an average price target of $106.42.

About Visa

Visa Inc (Visa) is a payments technology company that connects consumers, merchants, financial institutions, businesses, strategic partners and government entities to electronic payments. The Company operates through payment services segment. The Company enables global commerce through the transfer of value and information among the participants.

Institutional Ownership by Quarter for Visa (NYSE:V)

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