Baskin Financial Services Inc. Purchases 748 Shares of Visa Inc. (NYSE:V)

Baskin Financial Services Inc. boosted its holdings in Visa Inc. (NYSE:V) by 0.4% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 178,459 shares of the credit-card processor’s stock after purchasing an additional 748 shares during the quarter. Visa comprises approximately 4.0% of Baskin Financial Services Inc.’s investment portfolio, making the stock its 10th largest 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 hedge funds and other institutional investors have also bought and sold shares of V. Hilltop National Bank bought a new position in shares of Visa in the first quarter valued at approximately $1,212,000. Absolute Capital Management LLC bought a new stake in shares of Visa in the 1st quarter worth $404,000. Davidson Capital Management Inc. grew its stake in shares of Visa by 0.5% in the 1st quarter. Davidson Capital Management Inc. now owns 9,275 shares of the credit-card processor’s stock worth $2,588,000 after acquiring an additional 44 shares in the last quarter. Empirical Finance LLC lifted its position in shares of Visa by 4.4% during the first quarter. Empirical Finance LLC now owns 45,724 shares of the credit-card processor’s stock valued at $12,761,000 after purchasing an additional 1,914 shares in the last quarter. Finally, Arjuna Capital boosted its holdings in Visa by 0.8% during the second quarter. Arjuna Capital now owns 11,851 shares of the credit-card processor’s stock worth $3,111,000 after purchasing an additional 96 shares during the last quarter. Institutional investors own 82.15% of the company’s stock.

Visa Stock Performance

NYSE V opened at $287.51 on Thursday. The company’s 50 day simple moving average is $275.69 and its two-hundred day simple moving average is $272.74. The company has a debt-to-equity ratio of 0.54, a current ratio of 1.37 and a quick ratio of 1.37. Visa Inc. has a 1 year low of $228.03 and a 1 year high of $293.07. The stock has a market capitalization of $525.83 billion, a PE ratio of 32.12, a P/E/G ratio of 1.94 and a beta of 0.96.

Visa (NYSE:V) last issued its quarterly earnings data 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. Visa had a return on equity of 51.94% and a net margin of 54.72%. The company had revenue of $8.90 billion for the quarter, compared to the consensus estimate of $8.92 billion. During the same quarter last year, the business posted $2.16 earnings per share. The firm’s revenue was up 9.6% compared to the same quarter last year. Analysts predict that Visa Inc. will post 9.92 earnings per share for the current fiscal year.

Visa Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, September 3rd. Stockholders of record on Friday, August 9th were issued 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 23.24%.

Insider Buying and Selling

In other Visa news, CEO Ryan Mcinerney sold 8,620 shares of the business’s stock in a transaction that occurred on Tuesday, September 3rd. The shares were sold at an average price of $276.37, for a total value of $2,382,309.40. Following the completion of the transaction, the chief executive officer now owns 538 shares of the company’s stock, valued at $148,687.06. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.19% of the stock is owned by company insiders.

Analyst Ratings Changes

Several equities analysts have commented on V shares. Jefferies Financial Group dropped their target price on shares of Visa from $325.00 to $300.00 and set a “buy” rating on the stock in a research report on Wednesday, July 24th. Morgan Stanley reissued an “overweight” rating and issued a $322.00 price objective on shares of Visa in a research report on Wednesday, September 25th. Royal Bank of Canada decreased their target price on Visa from $315.00 to $311.00 and set an “outperform” rating for the company in a research report on Wednesday, July 24th. Oppenheimer initiated coverage on shares of Visa in a report on Tuesday, October 1st. They issued an “outperform” rating and a $318.00 price target on the stock. Finally, JPMorgan Chase & Co. raised their price objective on shares of Visa from $290.00 to $320.00 and gave the stock an “overweight” rating in a report on Tuesday, August 20th. Four analysts have rated the stock with a hold rating, twenty-three have given a buy rating and two have given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $313.81.

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.