Banque Pictet & Cie SA Has $159.01 Million Holdings in Visa Inc. (NYSE:V)

Banque Pictet & Cie SA lowered its position in Visa Inc. (NYSE:V - Free Report) by 19.9% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 453,717 shares of the credit-card processor's stock after selling 113,012 shares during the period. Visa makes up approximately 1.3% of Banque Pictet & Cie SA's investment portfolio, making the stock its 15th biggest holding. Banque Pictet & Cie SA's holdings in Visa were worth $159,010,000 at the end of the most recent quarter.

Other institutional investors have also added to or reduced their stakes in the company. von Borstel & Associates Inc. purchased a new position in shares of Visa in the 1st quarter valued at $27,000. Sellwood Investment Partners LLC purchased a new stake in shares of Visa during the fourth quarter worth about $41,000. Mountain Hill Investment Partners Corp. purchased a new stake in shares of Visa during the fourth quarter valued at $47,000. Measured Risk Portfolios Inc. purchased a new stake in shares of Visa during the fourth quarter valued at $47,000. Finally, O Brien Wealth Partners LLC purchased a new stake in shares of Visa during the first quarter valued at $54,000. Institutional investors own 82.15% of the company's stock.

Wall Street Analysts Forecast Growth

A number of brokerages recently commented on V. Evercore ISI started coverage on Visa in a research report on Wednesday, April 9th. They issued an "in-line" rating and a $330.00 target price on the stock. William Blair reissued an "outperform" rating on shares of Visa in a report on Wednesday, April 30th. Mizuho upgraded shares of Visa from a "neutral" rating to an "outperform" rating and upped their price objective for the stock from $359.00 to $425.00 in a research report on Thursday, June 5th. Citigroup initiated coverage on shares of Visa in a research report on Monday, June 2nd. They issued a "buy" rating on the stock. Finally, The Goldman Sachs Group began coverage on shares of Visa in a report on Monday, June 2nd. They set a "neutral" rating for the company. Five investment analysts have rated the stock with a hold rating, twenty-three have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus price target of $372.84.

Insider Activity at Visa

In related news, CEO Ryan Mcinerney sold 8,630 shares of the company's stock in a transaction on Tuesday, July 1st. The stock was sold at an average price of $353.82, for a total transaction of $3,053,466.60. Following the transaction, the chief executive officer directly owned 537 shares of the company's stock, valued at approximately $190,001.34. The trade was a 94.14% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, General Counsel Julie B. Rottenberg sold 2,575 shares of the business's stock in a transaction dated Thursday, May 1st. The shares were sold at an average price of $345.58, for a total value of $889,868.50. Following the completion of the transaction, the general counsel owned 11,925 shares in the company, valued at $4,121,041.50. This trade represents a 17.76% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 101,108 shares of company stock valued at $36,771,200 over the last ninety days. Insiders own 0.13% of the company's stock.

Visa Stock Down 2.3%

Shares of V traded down $8.17 during mid-day trading on Friday, reaching $347.71. 7,577,927 shares of the stock traded hands, compared to its average volume of 6,821,741. Visa Inc. has a 12-month low of $252.70 and a 12-month high of $375.51. The firm has a market cap of $641.58 billion, a price-to-earnings ratio of 34.95, a P/E/G ratio of 2.41 and a beta of 0.92. The company has a quick ratio of 1.08, a current ratio of 1.08 and a debt-to-equity ratio of 0.45. The stock has a fifty day simple moving average of $356.93 and a 200 day simple moving average of $342.37.

Visa (NYSE:V - Get Free Report) last posted its quarterly earnings results on Tuesday, April 29th. The credit-card processor reported $2.76 EPS for the quarter, beating the consensus estimate of $2.68 by $0.08. Visa had a net margin of 52.86% and a return on equity of 56.28%. The business had revenue of $9.59 billion during the quarter, compared to analyst estimates of $9.57 billion. During the same period in the previous year, the business posted $2.51 EPS. The company's quarterly revenue was up 9.3% on a year-over-year basis. Sell-side analysts expect that Visa Inc. will post 11.3 EPS for the current fiscal year.

Visa Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, June 2nd. Investors of record on Tuesday, May 13th were issued a $0.59 dividend. The ex-dividend date was Tuesday, May 13th. This represents a $2.36 dividend on an annualized basis and a dividend yield of 0.68%. Visa's payout ratio is currently 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.