Baxter Bros Inc. Sells 1,085 Shares of Visa Inc. (NYSE:V)

Baxter Bros Inc. cut its stake in Visa Inc. (NYSE:V) by 1.1% in the 4th quarter, HoldingsChannel reports. The fund owned 101,584 shares of the credit-card processor’s stock after selling 1,085 shares during the period. Visa accounts for approximately 4.2% of Baxter Bros Inc.’s holdings, making the stock its 4th largest holding. Baxter Bros Inc.’s holdings in Visa were worth $32,105,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently modified their holdings of V. Howard Capital Management Group LLC lifted its holdings 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 valued at $29,242,000 after purchasing an additional 610 shares during the last quarter. Principal Financial Group Inc. boosted its holdings in shares of Visa by 7.7% in the third quarter. Principal Financial Group Inc. now owns 5,733,284 shares of the credit-card processor’s stock worth $1,576,366,000 after buying an additional 411,210 shares during the period. Algert Global LLC purchased a new position in shares of Visa in the third quarter worth approximately $1,778,000. Fisher Asset Management LLC grew its position in Visa by 2.1% during the 3rd quarter. Fisher Asset Management LLC now owns 9,584,713 shares of the credit-card processor’s stock worth $2,635,317,000 after purchasing an additional 196,891 shares in the last quarter. Finally, Prosperity Financial Group Inc. lifted its holdings in shares of Visa by 5.2% in the third quarter. Prosperity Financial Group Inc. now owns 4,882 shares of the credit-card processor’s stock valued at $1,342,000 after purchasing an additional 242 shares in the last quarter. Institutional investors own 82.15% of the company’s stock.

Visa Trading Up 2.5 %

Shares of NYSE V opened at $343.96 on Tuesday. Visa Inc. has a 1-year low of $252.70 and a 1-year high of $366.54. The company has a current ratio of 1.12, a quick ratio of 1.12 and a debt-to-equity ratio of 0.45. The company has a 50-day moving average of $341.23 and a two-hundred day moving average of $313.75. The company has a market cap of $639.00 billion, a PE ratio of 34.67, a P/E/G ratio of 2.33 and a beta of 0.95.

Visa (NYSE:V) last announced its quarterly earnings data on Thursday, January 30th. The credit-card processor reported $2.75 EPS for the quarter, beating analysts’ consensus estimates of $2.66 by $0.09. Visa had a return on equity of 54.79% and a net margin of 54.27%. As a group, equities analysts expect that Visa Inc. will post 11.3 earnings per share for the current fiscal year.

Visa Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, March 3rd. Stockholders of record on Tuesday, February 11th were paid a $0.59 dividend. This represents a $2.36 annualized dividend and a dividend yield of 0.69%. The ex-dividend date of this dividend was Tuesday, February 11th. Visa’s dividend payout ratio (DPR) is presently 23.79%.

Wall Street Analysts Forecast Growth

Several brokerages recently issued reports on V. The Goldman Sachs Group increased their price objective on Visa from $346.00 to $384.00 and gave the stock a “buy” rating in a research note on Friday, January 31st. Raymond James reaffirmed an “outperform” rating and issued a $393.00 target price (up from $374.00) on shares of Visa in a research report on Friday, January 31st. Barclays lifted their price target on Visa from $361.00 to $396.00 and gave the company an “overweight” rating in a report on Monday, February 3rd. Seaport Res Ptn upgraded Visa from a “hold” rating to a “strong-buy” rating in a report on Tuesday, January 14th. Finally, Piper Sandler reissued an “overweight” rating and issued a $383.00 target price (up from $368.00) on shares of Visa in a research report on Friday, January 31st. Six equities research analysts have rated the stock with a hold rating, twenty-three have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat, Visa has an average rating of “Moderate Buy” and a consensus price target of $353.96.

Insider Transactions at Visa

In other Visa news, General Counsel Julie B. Rottenberg sold 2,572 shares of the firm’s stock in a transaction dated Monday, February 3rd. The stock was sold at an average price of $340.00, for a total transaction of $874,480.00. Following the transaction, the general counsel now owns 11,925 shares in the company, valued at approximately $4,054,500. This trade represents a 17.74 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Ryan Mcinerney sold 8,620 shares of the company’s stock in a transaction dated Thursday, January 2nd. The shares were sold at an average price of $317.78, for a total value of $2,739,263.60. The disclosure for this sale can be found here. Insiders sold a total of 143,205 shares of company stock worth $48,560,961 in the last quarter. 0.13% of the stock is owned by company insiders.

Visa Company 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.