Baskin Financial Services Inc. Sells 2,250 Shares of Visa Inc. (NYSE:V)

Baskin Financial Services Inc. lowered its stake in shares of Visa Inc. (NYSE:V - Free Report) by 1.3% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 174,982 shares of the credit-card processor's stock after selling 2,250 shares during the quarter. Visa comprises about 5.0% of Baskin Financial Services Inc.'s holdings, making the stock its 3rd largest position. Baskin Financial Services Inc.'s holdings in Visa were worth $61,324,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds also recently modified their holdings of the stock. Sellwood Investment Partners LLC purchased a new stake in shares of Visa during the 4th quarter worth about $41,000. Mountain Hill Investment Partners Corp. purchased a new stake in shares of Visa during the 4th quarter worth about $47,000. Measured Risk Portfolios Inc. purchased a new stake in shares of Visa during the 4th quarter worth about $47,000. O Brien Wealth Partners LLC purchased a new stake in shares of Visa during the 1st quarter worth about $54,000. Finally, Global X Japan Co. Ltd. purchased a new stake in shares of Visa during the 1st quarter worth about $56,000. Institutional investors and hedge funds own 82.15% of the company's stock.

Insider Activity at Visa

In other Visa news, CEO Ryan Mcinerney sold 8,630 shares of the stock in a transaction on Tuesday, July 1st. The stock was sold at an average price of $353.82, for a total value of $3,053,466.60. Following the sale, the chief executive officer directly owned 537 shares of the company's stock, valued at $190,001.34. This trade represents a 94.14% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, insider Paul D. Fabara sold 11,636 shares of the stock in a transaction on Wednesday, June 11th. The stock was sold at an average price of $375.00, for a total value of $4,363,500.00. Following the completion of the sale, the insider directly owned 26,413 shares in the company, valued at $9,904,875. This represents a 30.58% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 101,108 shares of company stock valued at $36,771,200. Corporate insiders own 0.13% of the company's stock.

Visa Stock Down 0.6%

Shares of Visa stock traded down $2.21 on Tuesday, hitting $354.43. 6,964,583 shares of the company's stock traded hands, compared to its average volume of 6,837,239. The stock has a market cap of $653.98 billion, a P/E ratio of 35.62, a PEG ratio of 2.42 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 firm's 50-day moving average is $356.43 and its 200 day moving average is $342.00. Visa Inc. has a 52-week low of $252.70 and a 52-week high of $375.51.

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

Visa Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, June 2nd. Investors of record on Tuesday, May 13th were given a dividend of $0.59 per share. This represents a $2.36 annualized dividend and a dividend yield of 0.67%. The ex-dividend date of this dividend was Tuesday, May 13th. Visa's dividend payout ratio is currently 23.72%.

Analyst Upgrades and Downgrades

A number of analysts have recently issued reports on V shares. Piper Sandler boosted their target price on Visa from $383.00 to $384.00 and gave the stock an "overweight" rating in a report on Wednesday, April 30th. The Goldman Sachs Group initiated coverage on Visa in a report on Monday, June 2nd. They issued a "neutral" rating for the company. Barclays restated an "overweight" rating on shares of Visa in a report on Friday, June 13th. Jefferies Financial Group upped their price target on Visa from $400.00 to $410.00 and gave the stock a "buy" rating in a report on Tuesday, May 27th. Finally, William Blair restated an "outperform" rating on shares of Visa in a report on Wednesday, April 30th. Five analysts have rated the stock with a hold rating, twenty-three have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average target price of $372.84.

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.