Baskin Financial Services Inc. Sells 3,579 Shares of Visa Inc. (NYSE:V)

Posted by Defense World Staff on Apr 2nd, 2023

Baskin Financial Services Inc. decreased its position in Visa Inc. (NYSE:V – Get Rating) by 1.9% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 185,626 shares of the credit-card processor’s stock after selling 3,579 shares during the quarter. Visa accounts for approximately 4.5% of Baskin Financial Services Inc.’s holdings, making the stock its 5th largest holding. Baskin Financial Services Inc.’s holdings in Visa were worth $38,566,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently modified their holdings of V. Vanguard Group Inc. increased its position in shares of Visa by 0.6% in the third quarter. Vanguard Group Inc. now owns 145,236,910 shares of the credit-card processor’s stock valued at $25,801,337,000 after acquiring an additional 912,545 shares during the last quarter. Price T Rowe Associates Inc. MD increased its position in shares of Visa by 0.4% in the second quarter. Price T Rowe Associates Inc. MD now owns 51,261,821 shares of the credit-card processor’s stock valued at $10,092,940,000 after acquiring an additional 200,057 shares during the last quarter. Alliancebernstein L.P. increased its position in shares of Visa by 7.0% in the third quarter. Alliancebernstein L.P. now owns 27,141,800 shares of the credit-card processor’s stock valued at $4,821,741,000 after acquiring an additional 1,785,695 shares during the last quarter. Jennison Associates LLC increased its position in shares of Visa by 0.6% in the third quarter. Jennison Associates LLC now owns 13,270,127 shares of the credit-card processor’s stock valued at $2,357,438,000 after acquiring an additional 77,186 shares during the last quarter. Finally, Royal Bank of Canada increased its position in shares of Visa by 3.0% in the third quarter. Royal Bank of Canada now owns 13,157,577 shares of the credit-card processor’s stock valued at $2,337,444,000 after acquiring an additional 383,335 shares during the last quarter. Institutional investors and hedge funds own 81.87% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts recently issued reports on V shares. Oppenheimer lifted their target price on Visa from $210.00 to $237.00 and gave the company an “outperform” rating in a research report on Wednesday, January 25th. Robert W. Baird lifted their price target on Visa from $250.00 to $270.00 and gave the stock an “outperform” rating in a report on Thursday, January 19th. Raymond James lifted their price target on Visa from $261.00 to $281.00 and gave the stock an “outperform” rating in a report on Friday, January 27th. UBS Group reduced their price target on Visa from $290.00 to $287.00 and set a “buy” rating for the company in a report on Thursday, December 15th. Finally, Barclays lifted their price target on Visa from $266.00 to $270.00 and gave the stock an “overweight” rating in a report on Sunday, January 29th. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and twenty have assigned a buy rating to the stock. According to MarketBeat.com, Visa has an average rating of “Moderate Buy” and a consensus target price of $259.11.

Visa Trading Up 1.4 %

Shares of V stock opened at $225.46 on Friday. The company has a current ratio of 1.44, a quick ratio of 1.44 and a debt-to-equity ratio of 0.59. The stock has a market cap of $424.09 billion, a P/E ratio of 31.53, a price-to-earnings-growth ratio of 1.74 and a beta of 0.97. The stock has a 50 day simple moving average of $223.58 and a 200 day simple moving average of $209.81. Visa Inc. has a 1 year low of $174.60 and a 1 year high of $234.30.

Visa (NYSE:V – Get Rating) last issued its quarterly earnings results on Thursday, January 26th. The credit-card processor reported $2.18 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.01 by $0.17. The business had revenue of $7.90 billion during the quarter, compared to analysts’ expectations of $7.70 billion. Visa had a return on equity of 49.95% and a net margin of 50.28%. The firm’s revenue for the quarter was up 11.9% compared to the same quarter last year. During the same period in the previous year, the company posted $1.81 earnings per share. On average, research analysts predict that Visa Inc. will post 8.43 earnings per share for the current fiscal year.

Visa Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, March 1st. Investors of record on Friday, February 10th were paid a $0.45 dividend. This is a boost from Visa’s previous quarterly dividend of $0.40. This represents a $1.80 annualized dividend and a dividend yield of 0.80%. The ex-dividend date was Thursday, February 9th. Visa’s payout ratio is 25.17%.

Insider Activity at Visa

In other Visa news, Chairman Alfred F. Kelly, Jr. sold 58,000 shares of the business’s stock in a transaction that occurred on Monday, March 6th. The shares were sold at an average price of $223.99, for a total transaction of $12,991,420.00. Following the completion of the transaction, the chairman now directly owns 162,354 shares in the company, valued at $36,365,672.46. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In other Visa news, Chairman Alfred F. Kelly, Jr. sold 58,000 shares of the business’s stock in a transaction that occurred on Monday, March 6th. The shares were sold at an average price of $223.99, for a total transaction of $12,991,420.00. Following the completion of the transaction, the chairman now directly owns 162,354 shares in the company, valued at $36,365,672.46. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, General Counsel Julie B. Rottenberg sold 13,394 shares of the business’s stock in a transaction that occurred on Friday, February 24th. The shares were sold at an average price of $219.00, for a total transaction of $2,933,286.00. Following the transaction, the general counsel now owns 4,583 shares of the company’s stock, valued at $1,003,677. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 191,312 shares of company stock worth $33,751,165. Company insiders own 0.22% of the company’s stock.

About Visa

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Visa, Inc engages in the provision of digital payment services. It also facilitates global commerce through the transfer of value and information among a global network of consumers, merchants, financial institutions, businesses, strategic partners, and government entities. It offers debit cards, credit cards, prepaid products, commercial payment solutions, and global automated teller machines (ATMs).