Banque Pictet & Cie SA Cuts Stock Position in Visa Inc. $V

Key Points

• Banque Pictet & Cie SA reduced its stake in Visa Inc. by 8.7% during the 2nd quarter, holding a total of 414,253 shares valued at approximately $147 million.
• Visa's stock has experienced recent price adjustments, with analysts from Mizuho raising its target price from $359 to $425 and maintaining an "outperform" rating.
• Visa recently announced a quarterly dividend of $0.59, yielding 0.7% annually and reflecting a dividend payout ratio of 23.05%.

Banque Pictet & Cie SA lessened its stake in Visa Inc. (NYSE:V - Free Report) by 8.7% in the 2nd quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 414,253 shares of the credit-card processor's stock after selling 39,464 shares during the quarter. Visa makes up about 1.0% of Banque Pictet & Cie SA's portfolio, making the stock its 14th biggest holding. Banque Pictet & Cie SA's holdings in Visa were worth $147,081,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Keystone Global Partners LLC purchased a new stake in Visa in the 1st quarter worth $26,000. Family Legacy Financial Solutions LLC purchased a new stake in shares of Visa during the second quarter worth $28,000. von Borstel & Associates Inc. purchased a new stake in shares of Visa during the first quarter worth $27,000. Cranbrook Wealth Management LLC grew its holdings in shares of Visa by 82.0% during the second quarter. Cranbrook Wealth Management LLC now owns 91 shares of the credit-card processor's stock worth $32,000 after buying an additional 41 shares in the last quarter. Finally, Westend Capital Management LLC grew its holdings in shares of Visa by 83.1% during the second quarter. Westend Capital Management LLC now owns 108 shares of the credit-card processor's stock worth $38,000 after buying an additional 49 shares in the last quarter. Hedge funds and other institutional investors own 82.15% of the company's stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently issued reports on V shares. Mizuho raised shares of Visa from a "neutral" rating to an "outperform" rating and upped their target price for the stock from $359.00 to $425.00 in a report on Thursday, June 5th. Oppenheimer upped their target price on shares of Visa from $390.00 to $391.00 and gave the stock an "outperform" rating in a report on Wednesday, July 2nd. The Goldman Sachs Group started coverage on shares of Visa in a report on Monday, June 2nd. They set a "neutral" rating for the company. Truist Financial dropped their target price on shares of Visa from $400.00 to $397.00 and set a "buy" rating for the company in a report on Thursday, July 17th. Finally, Barclays reissued an "overweight" rating and issued a $408.00 price objective (up previously from $396.00) on shares of Visa in a report on Thursday, July 31st. One research analyst has rated the stock with a Strong Buy rating, twenty have assigned a Buy rating and five have issued a Hold rating to the stock. According to MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $385.96.

Insider Transactions at Visa

In other Visa news, CEO Ryan Mcinerney sold 8,630 shares of the company's stock in a transaction dated Tuesday, July 1st. The shares were sold at an average price of $353.82, for a total value of $3,053,466.60. Following the transaction, the chief executive officer owned 537 shares of the company's stock, valued at $190,001.34. This represents a 94.14% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, General Counsel Julie B. Rottenberg sold 2,027 shares of the company's stock in a transaction dated Monday, August 18th. The shares were sold at an average price of $344.02, for a total transaction of $697,328.54. Following the completion of the transaction, the general counsel directly owned 11,925 shares in the company, valued at $4,102,438.50. The trade was a 14.53% decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 0.13% of the company's stock.

Visa Trading Up 0.7%

Shares of V opened at $337.15 on Friday. The company has a current ratio of 1.12, a quick ratio of 1.12 and a debt-to-equity ratio of 0.52. Visa Inc. has a 12-month low of $272.78 and a 12-month high of $375.51. The firm has a 50-day moving average price of $344.65 and a 200 day moving average price of $346.26. The firm has a market capitalization of $617.93 billion, a P/E ratio of 32.92, a P/E/G ratio of 2.23 and a beta of 0.92.

Visa (NYSE:V - Get Free Report) last posted its earnings results on Tuesday, July 29th. The credit-card processor reported $2.98 EPS for the quarter, beating analysts' consensus estimates of $2.85 by $0.13. Visa had a net margin of 52.16% and a return on equity of 58.93%. The company had revenue of $10.17 billion for the quarter, compared to analysts' expectations of $9.82 billion. During the same quarter in the prior year, the company posted $2.42 earnings per share. Visa's revenue for the quarter was up 14.3% compared to the same quarter last year. Sell-side analysts forecast that Visa Inc. will post 11.3 EPS for the current year.

Visa Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Tuesday, September 2nd. Shareholders of record on Tuesday, August 12th were given a $0.59 dividend. The ex-dividend date of this dividend was Tuesday, August 12th. This represents a $2.36 dividend on an annualized basis and a yield of 0.7%. Visa's dividend payout ratio is presently 23.05%.

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.

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