PICTET BANK & TRUST Ltd Sells 2,730 Shares of Visa Inc (NYSE:V)

PICTET BANK & TRUST Ltd decreased its stake in shares of Visa Inc (NYSE:V) by 19.3% in the 1st quarter, Holdings Channel reports. The fund owned 11,400 shares of the credit-card processor’s stock after selling 2,730 shares during the quarter. Visa accounts for approximately 1.0% of PICTET BANK & TRUST Ltd’s investment portfolio, making the stock its 27th biggest position. PICTET BANK & TRUST Ltd’s holdings in Visa were worth $1,837,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also made changes to their positions in V. Rowland & Co. Investment Counsel ADV lifted its stake in Visa by 4.4% in the fourth quarter. Rowland & Co. Investment Counsel ADV now owns 1,183 shares of the credit-card processor’s stock valued at $222,000 after acquiring an additional 50 shares during the last quarter. Pratt Collard Advisory Partners LLC lifted its stake in Visa by 3.6% in the fourth quarter. Pratt Collard Advisory Partners LLC now owns 1,445 shares of the credit-card processor’s stock valued at $272,000 after acquiring an additional 50 shares during the last quarter. Capital Investment Counsel Inc lifted its stake in Visa by 0.3% in the fourth quarter. Capital Investment Counsel Inc now owns 17,031 shares of the credit-card processor’s stock valued at $3,200,000 after acquiring an additional 50 shares during the last quarter. Gould Asset Management LLC CA raised its position in shares of Visa by 2.2% in the fourth quarter. Gould Asset Management LLC CA now owns 2,361 shares of the credit-card processor’s stock valued at $444,000 after purchasing an additional 51 shares during the period. Finally, Private Advisory Group LLC raised its position in shares of Visa by 3.0% in the fourth quarter. Private Advisory Group LLC now owns 1,758 shares of the credit-card processor’s stock valued at $330,000 after purchasing an additional 51 shares during the period. Institutional investors and hedge funds own 82.43% of the company’s stock.

V stock opened at $178.44 on Wednesday. The company has a quick ratio of 1.27, a current ratio of 1.25 and a debt-to-equity ratio of 0.48. Visa Inc has a 12 month low of $133.93 and a 12 month high of $214.17. The firm has a market cap of $344.56 billion, a P/E ratio of 32.15, a P/E/G ratio of 2.30 and a beta of 0.92. The company’s 50-day moving average price is $164.32 and its two-hundred day moving average price is $182.85.

Visa (NYSE:V) last released its earnings results on Thursday, April 30th. The credit-card processor reported $1.39 EPS for the quarter, beating the consensus estimate of $1.35 by $0.04. Visa had a net margin of 52.26% and a return on equity of 43.45%. The firm had revenue of $5.85 billion for the quarter, compared to analyst estimates of $5.75 billion. During the same period last year, the firm earned $1.31 EPS. The business’s quarterly revenue was up 6.6% compared to the same quarter last year. Equities analysts predict that Visa Inc will post 5.2 EPS for the current year.

The business also recently declared a quarterly dividend, which will be paid on Tuesday, June 2nd. Stockholders of record on Thursday, May 14th will be paid a $0.30 dividend. The ex-dividend date of this dividend is Wednesday, May 13th. This represents a $1.20 dividend on an annualized basis and a dividend yield of 0.67%. Visa’s payout ratio is currently 22.06%.

In other news, CEO Alfred F. Kelly, Jr. sold 7,000 shares of the firm’s stock in a transaction that occurred on Friday, February 28th. The shares were sold at an average price of $174.04, for a total value of $1,218,280.00. Following the sale, the chief executive officer now directly owns 145,090 shares in the company, valued at approximately $25,251,463.60. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, insider Rajat Taneja sold 10,685 shares of the firm’s stock in a transaction that occurred on Friday, February 14th. The shares were sold at an average price of $208.29, for a total transaction of $2,225,578.65. Following the completion of the sale, the insider now owns 282,318 shares in the company, valued at $58,804,016.22. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 39,371 shares of company stock worth $7,463,849. 0.19% of the stock is currently owned by corporate insiders.

Several equities analysts have recently weighed in on V shares. Stephens dropped their price objective on shares of Visa from $228.00 to $192.00 and set an “overweight” rating on the stock in a research report on Wednesday, April 1st. Royal Bank of Canada increased their price objective on shares of Visa from $195.00 to $212.00 and gave the company an “outperform” rating in a research report on Friday, May 1st. Jefferies Financial Group lowered shares of Visa from a “buy” rating to a “hold” rating and dropped their price objective for the company from $190.00 to $180.00 in a research report on Wednesday, April 15th. Oppenheimer increased their price objective on shares of Visa from $175.00 to $190.00 and gave the company an “outperform” rating in a research report on Friday, May 1st. Finally, Cantor Fitzgerald increased their price objective on shares of Visa from $200.00 to $228.00 and gave the company an “overweight” rating in a research report on Friday, January 31st. Five research analysts have rated the stock with a hold rating and twenty-four have given a buy rating to the stock. The company presently has an average rating of “Buy” and an average price target of $203.00.

About Visa

Visa Inc operates as a payments technology company worldwide. The company facilitates commerce through the transfer of value and information among consumers, merchants, financial institutions, businesses, strategic partners, and government entities. It operates VisaNet, a processing network that enables authorization, clearing, and settlement of payment transactions; and offers fraud protection for account holders and assured payment for merchants.

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Institutional Ownership by Quarter for Visa (NYSE:V)

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