Baskin Financial Services Inc. Has $61.32 Million Holdings in Visa Inc. (NYSE:V)

Baskin Financial Services Inc. reduced its holdings in Visa Inc. (NYSE:V - Free Report) by 1.3% during the 1st quarter, according to 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 period. Visa comprises 5.0% of Baskin Financial Services Inc.'s holdings, making the stock its 3rd biggest position. Baskin Financial Services Inc.'s holdings in Visa were worth $61,324,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Lakeridge Wealth Management LLC lifted its stake in shares of Visa by 5.7% in the 1st quarter. Lakeridge Wealth Management LLC now owns 1,507 shares of the credit-card processor's stock valued at $528,000 after purchasing an additional 81 shares during the period. Blue Rock Wealth Management LLC purchased a new position in Visa in the fourth quarter valued at $306,000. Aptus Capital Advisors LLC raised its position in shares of Visa by 19.8% in the fourth quarter. Aptus Capital Advisors LLC now owns 182,658 shares of the credit-card processor's stock worth $57,727,000 after acquiring an additional 30,185 shares during the period. King Wealth Management Group boosted its stake in shares of Visa by 9.0% during the 4th quarter. King Wealth Management Group now owns 74,874 shares of the credit-card processor's stock worth $23,663,000 after acquiring an additional 6,172 shares in the last quarter. Finally, Eagle Strategies LLC boosted its stake in shares of Visa by 2.5% during the 4th quarter. Eagle Strategies LLC now owns 2,568 shares of the credit-card processor's stock worth $811,000 after acquiring an additional 63 shares in the last quarter. Institutional investors and hedge funds own 82.15% of the company's stock.

Visa Price Performance

Visa stock traded up $4.48 during trading hours on Friday, hitting $358.70. The stock had a trading volume of 3,702,810 shares, compared to its average volume of 6,855,011. The stock has a market capitalization of $661.86 billion, a price-to-earnings ratio of 36.05, a PEG ratio of 2.43 and a beta of 0.92. The company has a debt-to-equity ratio of 0.45, a current ratio of 1.08 and a quick ratio of 1.08. Visa Inc. has a 1-year low of $252.70 and a 1-year high of $375.51. The stock's fifty day moving average is $355.79 and its two-hundred day moving average is $341.24.

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

Visa Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, June 2nd. Stockholders of record on Tuesday, May 13th were paid a $0.59 dividend. This represents a $2.36 annualized dividend and a dividend yield of 0.66%. The ex-dividend date of this dividend was Tuesday, May 13th. Visa's dividend payout ratio is currently 23.72%.

Wall Street Analysts Forecast Growth

V has been the subject of a number of analyst reports. Truist Financial began coverage on Visa in a report on Monday, June 2nd. They issued a "buy" rating and a $400.00 price target for the company. BMO Capital Markets upped their target price on shares of Visa from $370.00 to $380.00 and gave the stock an "outperform" rating in a report on Wednesday, April 30th. UBS Group boosted their target price on shares of Visa from $395.00 to $405.00 and gave the company a "buy" rating in a report on Wednesday, May 28th. Barclays restated an "overweight" rating on shares of Visa in a report on Friday, June 13th. Finally, Citigroup began coverage on shares of Visa in a research note on Monday, June 2nd. They set a "buy" rating on the stock. Five investment 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 stock. According to data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average price target of $372.84.

Insider Transactions at Visa

In other Visa news, insider Paul D. Fabara sold 11,636 shares of Visa stock in a transaction that occurred on Wednesday, June 11th. The shares were sold at an average price of $375.00, for a total transaction of $4,363,500.00. Following the transaction, the insider directly owned 26,413 shares of the company's stock, valued at $9,904,875. The trade was a 30.58% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, CEO Ryan Mcinerney sold 8,630 shares of the firm's stock in a transaction on Tuesday, July 1st. The shares were sold at an average price of $353.82, for a total transaction of $3,053,466.60. Following the completion of the transaction, the chief executive officer directly owned 537 shares in the company, valued at approximately $190,001.34. This represents a 94.14% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 101,108 shares of company stock worth $36,771,200. 0.13% of the stock is currently owned by company insiders.

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.