Visa Inc. (NYSE:V) Shares Sold by Bank Pictet & Cie Europe AG

Bank Pictet & Cie Europe AG lessened its stake in shares of Visa Inc. (NYSE:V - Free Report) by 7.4% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 592,546 shares of the credit-card processor's stock after selling 47,062 shares during the period. Visa accounts for 5.0% of Bank Pictet & Cie Europe AG's portfolio, making the stock its 5th largest holding. Bank Pictet & Cie Europe AG's holdings in Visa were worth $207,664,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. Bradley & Co. Private Wealth Management LLC acquired a new stake in shares of Visa in the fourth quarter worth $27,000. Compass Planning Associates Inc acquired a new stake in Visa during the fourth quarter worth $32,000. NewSquare Capital LLC acquired a new stake in Visa during the fourth quarter worth $35,000. FPC Investment Advisory Inc. boosted its stake in Visa by 377.3% during the fourth quarter. FPC Investment Advisory Inc. now owns 105 shares of the credit-card processor's stock worth $36,000 after buying an additional 83 shares in the last quarter. Finally, Sellwood Investment Partners LLC acquired a new stake in Visa during the fourth quarter worth $41,000. Institutional investors and hedge funds own 82.15% of the company's stock.

Visa Trading Up 0.7%

NYSE:V traded up $2.38 on Monday, hitting $355.23. 7,227,997 shares of the stock were exchanged, compared to its average volume of 7,018,294. The stock has a market capitalization of $655.46 billion, a price-to-earnings ratio of 35.81, a P/E/G ratio of 2.33 and a beta of 0.94. Visa Inc. has a 52 week low of $252.70 and a 52 week high of $375.51. The company has a debt-to-equity ratio of 0.45, a quick ratio of 1.12 and a current ratio of 1.12. The company's 50-day moving average price is $349.76 and its 200 day moving average price is $337.77.

Visa (NYSE:V - Get Free Report) last announced its quarterly 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. The company had revenue of $9.59 billion during the quarter, compared to analysts' expectations of $9.57 billion. Visa had a return on equity of 54.79% and a net margin of 54.27%. Visa's revenue was up 9.3% on a year-over-year basis. During the same period in the prior year, the business posted $2.51 EPS. On average, equities research analysts forecast that Visa Inc. will post 11.3 earnings per share for the current year.

Visa Announces Dividend

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

Insider Activity

In related news, General Counsel Julie B. Rottenberg sold 2,575 shares of the business's stock in a transaction that occurred on Thursday, May 1st. The stock was 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 now directly owns 11,925 shares in the company, valued at approximately $4,121,041.50. The trade was a 17.76% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Paul D. Fabara sold 11,636 shares of the business's stock in a transaction that occurred on Wednesday, June 11th. The shares were sold at an average price of $375.00, for a total value of $4,363,500.00. Following the completion of the transaction, the insider now owns 26,413 shares of the company's stock, 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. Insiders sold a total of 140,448 shares of company stock valued at $50,133,659 in the last ninety days. 0.13% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

A number of equities research analysts have weighed in on V shares. William Blair reiterated an "outperform" rating on shares of Visa in a research note on Wednesday, April 30th. Truist Financial began coverage on Visa in a report on Monday, June 2nd. They set a "buy" rating and a $400.00 price objective for the company. Barclays reissued an "overweight" rating on shares of Visa in a report on Friday. Jefferies Financial Group lifted their price target on Visa from $400.00 to $410.00 and gave the company a "buy" rating in a report on Tuesday, May 27th. Finally, Evercore ISI assumed coverage on Visa in a report on Wednesday, April 9th. They issued an "in-line" rating and a $330.00 price target for the company. Five equities research 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's stock. According to MarketBeat, Visa currently has an average rating of "Moderate Buy" and a consensus price target of $372.80.

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.