Baskin Financial Services Inc. Raises Stock Holdings in Visa Inc. (NYSE:V)

Baskin Financial Services Inc. lifted its holdings in Visa Inc. (NYSE:V) by 0.4% in the third quarter, according to the company in its most recent filing with the SEC. The fund owned 178,459 shares of the credit-card processor’s stock after acquiring an additional 748 shares during the quarter. Visa accounts for about 4.0% of Baskin Financial Services Inc.’s holdings, making the stock its 10th biggest holding. Baskin Financial Services Inc.’s holdings in Visa were worth $49,067,000 at the end of the most recent quarter.

A number of other institutional investors also recently made changes to their positions in V. Great Waters Wealth Management purchased a new stake in shares of Visa during the first quarter valued at approximately $202,000. Deane Retirement Strategies Inc. boosted its position in Visa by 1.1% during the 1st quarter. Deane Retirement Strategies Inc. now owns 8,712 shares of the credit-card processor’s stock valued at $2,432,000 after buying an additional 95 shares during the period. Ferguson Wellman Capital Management Inc. grew its holdings in Visa by 1.5% in the 1st quarter. Ferguson Wellman Capital Management Inc. now owns 347,283 shares of the credit-card processor’s stock worth $96,920,000 after acquiring an additional 5,017 shares during the last quarter. Neville Rodie & Shaw Inc. increased its position in shares of Visa by 3.3% in the first quarter. Neville Rodie & Shaw Inc. now owns 126,863 shares of the credit-card processor’s stock valued at $35,405,000 after acquiring an additional 4,076 shares during the period. Finally, Rise Advisors LLC raised its stake in shares of Visa by 218.3% during the first quarter. Rise Advisors LLC now owns 974 shares of the credit-card processor’s stock valued at $272,000 after acquiring an additional 668 shares during the last quarter. Hedge funds and other institutional investors own 82.15% of the company’s stock.

Insider Transactions at Visa

In other news, CEO Ryan Mcinerney sold 8,620 shares of Visa stock in a transaction on Tuesday, September 3rd. The shares were sold at an average price of $276.37, for a total transaction of $2,382,309.40. Following the transaction, the chief executive officer now owns 538 shares in the company, valued at $148,687.06. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Company insiders own 0.19% of the company’s stock.

Visa Stock Up 2.9 %

Shares of Visa stock opened at $287.51 on Thursday. The company has a quick ratio of 1.37, a current ratio of 1.37 and a debt-to-equity ratio of 0.54. Visa Inc. has a twelve month low of $228.03 and a twelve month high of $293.07. The company has a market cap of $525.83 billion, a price-to-earnings ratio of 32.12, a price-to-earnings-growth ratio of 1.94 and a beta of 0.96. The company’s 50 day moving average is $275.69 and its 200 day moving average is $272.74.

Visa (NYSE:V) last released its quarterly earnings results on Tuesday, July 23rd. The credit-card processor reported $2.42 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $2.42. The firm had revenue of $8.90 billion for the quarter, compared to the consensus estimate of $8.92 billion. Visa had a return on equity of 51.94% and a net margin of 54.72%. The company’s revenue for the quarter was up 9.6% on a year-over-year basis. During the same period last year, the business posted $2.16 EPS. Research analysts anticipate that Visa Inc. will post 9.92 EPS for the current year.

Visa Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Tuesday, September 3rd. Stockholders of record on Friday, August 9th were given a dividend of $0.52 per share. This represents a $2.08 annualized dividend and a dividend yield of 0.72%. The ex-dividend date was Friday, August 9th. Visa’s payout ratio is currently 23.24%.

Analyst Upgrades and Downgrades

Several analysts recently issued reports on V shares. Evercore ISI cut their target price on Visa from $335.00 to $330.00 and set an “outperform” rating on the stock in a research note on Tuesday, June 25th. William Blair raised Visa to a “strong-buy” rating in a research note on Tuesday, July 23rd. The Goldman Sachs Group reiterated a “buy” rating and issued a $317.00 price target on shares of Visa in a report on Thursday, September 12th. Citigroup dropped their target price on shares of Visa from $321.00 to $319.00 and set a “buy” rating for the company in a research report on Wednesday, July 24th. Finally, Monness Crespi & Hardt reaffirmed a “neutral” rating on shares of Visa in a research note on Tuesday, September 24th. Four analysts have rated the stock with a hold rating, twenty-three have given a buy rating and two have assigned a strong buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $313.81.

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.