Pictet Asset Management Holding SA Buys 37,852 Shares of Visa Inc. (NYSE:V)

by · The Cerbat Gem

Pictet Asset Management Holding SA raised its stake in shares of Visa Inc. (NYSE:V – Free Report) by 1.4% in the first quarter, Holdings Channel reports. The fund owned 2,719,509 shares of the credit-card processor’s stock after acquiring an additional 37,852 shares during the period. Visa comprises approximately 1.1% of Pictet Asset Management Holding SA’s holdings, making the stock its 14th biggest position. Pictet Asset Management Holding SA’s holdings in Visa were worth $952,847,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the stock. Lakeridge Wealth Management LLC increased its holdings in Visa by 5.7% in the first 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 last quarter. Blue Rock Wealth Management LLC bought a new stake in Visa in the fourth quarter valued at about $306,000. Aptus Capital Advisors LLC lifted its holdings in Visa by 19.8% during 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 in the last quarter. Eagle Strategies LLC lifted its holdings in Visa by 2.5% during the fourth 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. Finally, Rafferty Asset Management LLC lifted its holdings in Visa by 7.7% during the fourth quarter. Rafferty Asset Management LLC now owns 610,517 shares of the credit-card processor’s stock worth $192,948,000 after acquiring an additional 43,546 shares in the last quarter. 82.15% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several research analysts have weighed in on the company. Deutsche Bank Aktiengesellschaft assumed coverage on Visa in a report on Thursday. They set a “buy” rating and a $410.00 target price on the stock. Susquehanna reiterated a “positive” rating on shares of Visa in a report on Friday, March 21st. The Goldman Sachs Group started coverage on Visa in a report on Monday, June 2nd. They set a “neutral” rating for the company. Barclays reissued an “overweight” rating on shares of Visa in a research report on Friday, June 13th. Finally, Macquarie decreased their price objective on shares of Visa from $400.00 to $380.00 and set an “outperform” rating for the company in a research report on Wednesday, April 30th. Five investment analysts have rated the stock with a hold rating, twenty-three have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $375.52.

View Our Latest Research Report on Visa

Visa Price Performance

V stock traded down $1.54 during midday trading on Friday, reaching $348.27. 1,227,457 shares of the stock were exchanged, compared to its average volume of 6,776,408. The stock has a market capitalization of $642.62 billion, a PE ratio of 35.02, a P/E/G ratio of 2.37 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 52 week low of $252.70 and a 52 week high of $375.51. The company has a fifty day moving average price of $356.90 and a 200 day moving average price of $343.40.

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 the consensus estimate of $2.68 by $0.08. Visa had a return on equity of 56.28% and a net margin of 52.86%. The company had revenue of $9.59 billion for the quarter, compared to analyst estimates of $9.57 billion. During the same quarter in the prior year, the company earned $2.51 EPS. The firm’s revenue for the quarter was up 9.3% compared to the same quarter last year. As a group, analysts expect that Visa Inc. will post 11.3 EPS for the current fiscal year.

Visa Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, June 2nd. Investors of record on Tuesday, May 13th were given a $0.59 dividend. This represents a $2.36 dividend on an annualized basis and a yield of 0.68%. The ex-dividend date was Tuesday, May 13th. Visa’s payout ratio is 23.72%.

Insider Activity at Visa

In other Visa news, CEO Ryan Mcinerney sold 8,630 shares of the stock in a transaction dated 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 owned 537 shares in the company, valued at $190,001.34. This trade represents a 94.14% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, insider Paul D. Fabara sold 46,214 shares of the stock in a transaction dated Thursday, June 5th. The stock was sold at an average price of $370.00, for a total transaction of $17,099,180.00. Following the transaction, the insider owned 26,413 shares of the company’s stock, valued at $9,772,810. This represents a 63.63% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 101,108 shares of company stock valued at $36,771,200. 0.13% of the stock is owned by corporate insiders.

Visa Company Profile

(Free Report)

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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