Banque Pictet & Cie SA Sells 9,317 Shares of Visa Inc. (NYSE:V)

Banque Pictet & Cie SA lowered its position in Visa Inc. (NYSE:V) by 1.6% in the 4th quarter, Holdings Channel reports. The firm owned 566,729 shares of the credit-card processor’s stock after selling 9,317 shares during the quarter. Visa accounts for approximately 1.2% of Banque Pictet & Cie SA’s portfolio, making the stock its 14th biggest position. Banque Pictet & Cie SA’s holdings in Visa were worth $179,109,000 at the end of the most recent quarter.

Several other institutional investors have also added to or reduced their stakes in V. Creative Planning lifted its stake in Visa by 2.4% in the third quarter. Creative Planning now owns 566,729 shares of the credit-card processor’s stock worth $155,822,000 after purchasing an additional 13,318 shares during the last quarter. Swedbank AB increased its position in shares of Visa by 10.7% during the third quarter. Swedbank AB now owns 2,059,111 shares of the credit-card processor’s stock worth $566,153,000 after acquiring an additional 199,440 shares during the period. Howard Capital Management Group LLC increased its position in shares of Visa by 0.6% during the third quarter. Howard Capital Management Group LLC now owns 106,355 shares of the credit-card processor’s stock worth $29,242,000 after acquiring an additional 610 shares during the period. West Oak Capital LLC increased its holdings in Visa by 2.1% during the third quarter. West Oak Capital LLC now owns 1,970 shares of the credit-card processor’s stock valued at $542,000 after buying an additional 40 shares during the period. Finally, Riverview Trust Co increased its holdings in Visa by 4.6% during the third quarter. Riverview Trust Co now owns 2,078 shares of the credit-card processor’s stock valued at $571,000 after buying an additional 92 shares during the period. Institutional investors own 82.15% of the company’s stock.

Wall Street Analyst Weigh In

V has been the topic of several research reports. JPMorgan Chase & Co. lifted their price objective on shares of Visa from $340.00 to $375.00 and gave the company an “overweight” rating in a report on Friday, January 31st. Keefe, Bruyette & Woods raised their target price on shares of Visa from $360.00 to $400.00 and gave the company an “outperform” rating in a research note on Friday, January 31st. Macquarie raised their target price on shares of Visa from $300.00 to $335.00 and gave the company an “outperform” rating in a research note on Wednesday, October 30th. Barclays raised their target price on shares of Visa from $361.00 to $396.00 and gave the company an “overweight” rating in a research note on Monday, February 3rd. Finally, TD Cowen raised their target price on shares of Visa from $318.00 to $325.00 and gave the company a “buy” rating in a research note on Wednesday, October 30th. Four analysts have rated the stock with a hold rating, twenty-five have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $354.73.

Visa Trading Down 0.5 %

NYSE V opened at $353.73 on Monday. The company has a debt-to-equity ratio of 0.45, a current ratio of 1.12 and a quick ratio of 1.28. The firm’s fifty day moving average price is $325.14 and its 200 day moving average price is $299.19. The company has a market capitalization of $657.15 billion, a price-to-earnings ratio of 35.66, a price-to-earnings-growth ratio of 2.32 and a beta of 0.97. Visa Inc. has a 12 month low of $252.70 and a 12 month high of $356.08.

Visa (NYSE:V) last issued its quarterly earnings data on Thursday, January 30th. The credit-card processor reported $2.75 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.66 by $0.09. Visa had a net margin of 54.27% and a return on equity of 54.79%. On average, sell-side analysts expect that Visa Inc. will post 11.27 earnings per share for the current fiscal year.

Visa Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, March 3rd. Investors of record on Tuesday, February 11th will be issued a dividend of $0.59 per share. This represents a $2.36 dividend on an annualized basis and a yield of 0.67%. The ex-dividend date of this dividend is Tuesday, February 11th. Visa’s dividend payout ratio is currently 23.79%.

Insiders Place Their Bets

In related news, insider Paul D. Fabara sold 2,171 shares of the company’s stock in a transaction that occurred on Friday, November 22nd. The shares were sold at an average price of $307.97, for a total transaction of $668,602.87. Following the completion of the transaction, the insider now owns 17,894 shares of the company’s stock, valued at approximately $5,510,815.18. This represents a 10.82 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CAO Peter M. Andreski sold 2,332 shares of the company’s stock in a transaction that occurred on Friday, February 7th. The stock was sold at an average price of $349.62, for a total transaction of $815,313.84. Following the transaction, the chief accounting officer now directly owns 4,488 shares of the company’s stock, valued at $1,569,094.56. This trade represents a 34.19 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 58,056 shares of company stock worth $19,830,050. Insiders own 0.13% of the company’s stock.

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.