Visa Inc. $V is Bank Pictet & Cie Europe AG's 5th Largest Position

Key Points

• Bank Pictet & Cie Europe AG reduced its stake in Visa Inc. by 1.7%, making it the firm's 5th largest position in their investment portfolio, valued at approximately $206.75 million.
• Visa recently reported earnings of $2.98 per share for the last quarter, surpassing analysts' expectations, with a revenue of $10.17 billion, marking a 14.3% increase from the previous year.
• Visa declared a quarterly dividend of $0.59 per share, with a current yield of 0.7% and a payout ratio of 23.05%, reflecting ongoing commitment to returning value to shareholders.

Bank Pictet & Cie Europe AG lessened its position in Visa Inc. (NYSE:V - Free Report) by 1.7% in the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 582,321 shares of the credit-card processor's stock after selling 10,225 shares during the quarter. Visa makes up about 4.4% of Bank Pictet & Cie Europe AG's investment portfolio, making the stock its 5th largest holding. Bank Pictet & Cie Europe AG's holdings in Visa were worth $206,753,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently made changes to their positions in V. Keystone Global Partners LLC purchased a new position in Visa during the first quarter valued at $26,000. Family Legacy Financial Solutions LLC purchased a new position in shares of Visa in the second quarter worth $28,000. von Borstel & Associates Inc. purchased a new position in shares of Visa in the first quarter worth $27,000. Cranbrook Wealth Management LLC raised its stake in shares of Visa by 82.0% in the second quarter. Cranbrook Wealth Management LLC now owns 91 shares of the credit-card processor's stock worth $32,000 after purchasing an additional 41 shares during the last quarter. Finally, Westend Capital Management LLC raised its stake in shares of Visa by 83.1% in the second quarter. Westend Capital Management LLC now owns 108 shares of the credit-card processor's stock worth $38,000 after purchasing an additional 49 shares during the last quarter. Hedge funds and other institutional investors own 82.15% of the company's stock.

Wall Street Analyst Weigh In

Several research firms have recently weighed in on V. Oppenheimer boosted their price target on Visa from $390.00 to $391.00 and gave the stock an "outperform" rating in a research note on Wednesday, July 2nd. The Goldman Sachs Group began coverage on Visa in a research note on Monday, June 2nd. They issued a "neutral" rating for the company. Erste Group Bank cut Visa from a "buy" rating to a "hold" rating in a research note on Monday, September 22nd. Macquarie lifted their price objective on Visa from $380.00 to $425.00 and gave the stock an "outperform" rating in a report on Thursday, July 31st. Finally, Truist Financial cut their price objective on Visa from $400.00 to $397.00 and set a "buy" rating for the company in a report on Thursday, July 17th. One investment analyst has rated the stock with a Strong Buy rating, twenty have given a Buy rating and five have assigned a Hold rating to the company. According to MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $385.96.

Insider Buying and Selling

In other news, General Counsel Julie B. Rottenberg sold 2,027 shares of Visa stock in a transaction that occurred on Monday, August 18th. The stock was sold at an average price of $344.02, for a total value of $697,328.54. Following the completion of the transaction, the general counsel owned 11,925 shares in the company, valued at approximately $4,102,438.50. The trade was a 14.53% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Ryan Mcinerney sold 8,630 shares of the business'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 transaction, the chief executive officer owned 537 shares in the company, valued at $190,001.34. This trade represents a 94.14% decrease in their position. The disclosure for this sale can be found here. 0.13% of the stock is currently owned by corporate insiders.

Visa Stock Performance

NYSE V opened at $337.15 on Friday. The firm has a market cap of $617.93 billion, a price-to-earnings ratio of 32.92, a price-to-earnings-growth ratio of 2.23 and a beta of 0.92. The company has a quick ratio of 1.12, a current ratio of 1.12 and a debt-to-equity ratio of 0.52. The business has a 50-day moving average price of $344.65 and a 200-day moving average price of $346.26. Visa Inc. has a twelve month low of $272.78 and a twelve month high of $375.51.

Visa (NYSE:V - Get Free Report) last released its quarterly earnings data on Tuesday, July 29th. The credit-card processor reported $2.98 earnings per share for the quarter, topping analysts' consensus estimates of $2.85 by $0.13. The firm had revenue of $10.17 billion during the quarter, compared to analyst estimates of $9.82 billion. Visa had a return on equity of 58.93% and a net margin of 52.16%.The business's quarterly revenue was up 14.3% compared to the same quarter last year. During the same quarter in the prior year, the company posted $2.42 earnings per share. As a group, equities research analysts predict that Visa Inc. will post 11.3 EPS for the current fiscal year.

Visa Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, September 2nd. Investors of record on Tuesday, August 12th were paid a dividend of $0.59 per share. 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 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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