Visa Inc. $V is Baxter Bros Inc.'s 4th Largest Position

Key Points

• Baxter Bros Inc. has decreased its stake in Visa Inc. by 1.4%, making Visa the firm's 4th largest position at approximately 4.3% of its portfolio, valued at about $34.9 million.
• Visa reported a quarterly EPS of $2.98, exceeding analysts' expectations, alongside a revenue of $10.17 billion, marking a 14.3% increase from the previous year.
• Company insiders, including the General Counsel and CEO, have recently sold significant shares of Visa, with the CEO's sale representing a 95.13% decrease in their position.

Baxter Bros Inc. decreased its position in Visa Inc. (NYSE:V - Free Report) by 1.4% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 98,185 shares of the credit-card processor's stock after selling 1,413 shares during the period. Visa accounts for approximately 4.3% of Baxter Bros Inc.'s investment portfolio, making the stock its 4th largest position. Baxter Bros Inc.'s holdings in Visa were worth $34,861,000 at the end of the most recent quarter.

Several other hedge funds have also made changes to their positions in V. Nuveen LLC purchased a new stake in shares of Visa in the 1st quarter valued at approximately $3,518,533,000. Vanguard Group Inc. grew its stake in shares of Visa by 1.1% in the 1st quarter. Vanguard Group Inc. now owns 161,082,431 shares of the credit-card processor's stock valued at $56,452,949,000 after buying an additional 1,677,088 shares during the period. Wellington Management Group LLP grew its stake in shares of Visa by 17.7% in the 1st quarter. Wellington Management Group LLP now owns 10,979,720 shares of the credit-card processor's stock valued at $3,847,953,000 after buying an additional 1,651,954 shares during the period. MUFG Securities EMEA plc purchased a new stake in shares of Visa in the 1st quarter valued at approximately $373,240,000. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its stake in shares of Visa by 7.2% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 14,277,146 shares of the credit-card processor's stock valued at $5,003,569,000 after buying an additional 955,392 shares during the period. Hedge funds and other institutional investors own 82.15% of the company's stock.

Visa Stock Performance

NYSE:V opened at $343.63 on Monday. The company has a debt-to-equity ratio of 0.52, a quick ratio of 1.12 and a current ratio of 1.12. The stock has a market capitalization of $629.79 billion, a P/E ratio of 33.56, a PEG ratio of 2.03 and a beta of 0.90. The company has a 50 day moving average price of $343.77 and a 200 day moving average price of $346.97. Visa Inc. has a fifty-two week low of $275.37 and a fifty-two week high of $375.51.

Visa (NYSE:V - Get Free Report) last issued its quarterly earnings results on Tuesday, July 29th. The credit-card processor reported $2.98 EPS for the quarter, beating the consensus estimate of $2.85 by $0.13. Visa had a net margin of 52.16% and a return on equity of 58.93%. The company had revenue of $10.17 billion during the quarter, compared to analysts' expectations of $9.82 billion. During the same quarter last year, the company posted $2.42 EPS. The firm's revenue was up 14.3% compared to the same quarter last year. Equities research analysts forecast that Visa Inc. will post 11.3 EPS for the current year.

Visa Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Tuesday, September 2nd. Shareholders of record on Tuesday, August 12th were given a $0.59 dividend. This represents a $2.36 annualized dividend and a yield of 0.7%. The ex-dividend date of this dividend was Tuesday, August 12th. Visa's dividend payout ratio (DPR) is currently 23.05%.

Insider Activity at Visa

In other Visa news, General Counsel Julie B. Rottenberg sold 2,027 shares of the firm's stock in a transaction that occurred on Monday, August 18th. The shares were 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 of the company's stock, valued at $4,102,438.50. This trade represents a 14.53% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. Also, CEO Ryan Mcinerney sold 10,485 shares of the firm's stock in a transaction that occurred on Wednesday, October 1st. The shares were sold at an average price of $342.30, for a total transaction of $3,589,015.50. Following the completion of the transaction, the chief executive officer directly owned 537 shares of the company's stock, valued at $183,815.10. This represents a 95.13% decrease in their position. The disclosure for this sale can be found here. Company insiders own 0.13% of the company's stock.

Analyst Upgrades and Downgrades

Several analysts have recently weighed in on V shares. Oppenheimer increased their price target on shares of Visa from $390.00 to $391.00 and gave the company an "outperform" rating in a research note on Wednesday, July 2nd. Robert W. Baird set a $410.00 price target on shares of Visa and gave the company an "outperform" rating in a research note on Monday, October 6th. Weiss Ratings reissued a "buy (b)" rating on shares of Visa in a research note on Wednesday, October 8th. Erste Group Bank cut shares of Visa from a "buy" rating to a "hold" rating in a research report on Monday, September 22nd. Finally, UBS Group reaffirmed a "buy" rating and set a $415.00 price objective (up previously from $405.00) on shares of Visa in a research report on Wednesday, July 30th. One research analyst has rated the stock with a Strong Buy rating, twenty-one have issued a Buy rating and five have assigned a Hold rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $389.00.

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.

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