Bank Pictet & Cie Europe AG Acquires 71,968 Shares of Visa Inc. (NYSE:V)

Bank Pictet & Cie Europe AG grew its holdings in shares of Visa Inc. (NYSE:V) by 13.0% during the third quarter, according to its most recent Form 13F filing with the SEC. The firm owned 625,241 shares of the credit-card processor’s stock after purchasing an additional 71,968 shares during the period. Visa makes up approximately 4.1% of Bank Pictet & Cie Europe AG’s investment portfolio, making the stock its 5th largest holding. Bank Pictet & Cie Europe AG’s holdings in Visa were worth $171,910,000 as of its most recent filing with the SEC.

A number of other institutional investors also recently made changes to their positions in the stock. POM Investment Strategies LLC lifted its position in shares of Visa by 970.0% in the 2nd quarter. POM Investment Strategies LLC now owns 107 shares of the credit-card processor’s stock valued at $28,000 after acquiring an additional 97 shares in the last quarter. TruNorth Capital Management LLC raised its stake in shares of Visa by 211.9% during the 2nd quarter. TruNorth Capital Management LLC now owns 131 shares of the credit-card processor’s stock worth $34,000 after purchasing an additional 89 shares in the last quarter. Bbjs Financial Advisors LLC acquired a new position in Visa in the second quarter worth approximately $35,000. CarsonAllaria Wealth Management Ltd. bought a new position in Visa during the second quarter valued at approximately $35,000. Finally, Abich Financial Wealth Management LLC lifted its stake in shares of Visa by 52.9% in the 1st quarter. Abich Financial Wealth Management LLC now owns 133 shares of the credit-card processor’s stock valued at $37,000 after purchasing an additional 46 shares during the last quarter. 82.15% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at Visa

In other Visa news, CEO Ryan Mcinerney sold 8,620 shares of the company’s stock in a transaction dated Tuesday, September 3rd. The stock was 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. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 0.19% of the stock is owned by insiders.

Visa Price Performance

Visa stock opened at $283.76 on Thursday. The company has a debt-to-equity ratio of 0.54, a quick ratio of 1.37 and a current ratio of 1.37. Visa Inc. has a 52 week low of $228.03 and a 52 week high of $293.07. The stock has a market capitalization of $518.98 billion, a P/E ratio of 31.71, a price-to-earnings-growth ratio of 2.00 and a beta of 0.96. The stock has a fifty day moving average of $278.40 and a 200-day moving average of $273.10.

Visa (NYSE:V) last posted its quarterly earnings results on Tuesday, July 23rd. The credit-card processor reported $2.42 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 during the quarter, compared to analysts’ expectations of $8.92 billion. During the same quarter in the previous year, the firm earned $2.16 EPS. Visa’s revenue was up 9.6% on a year-over-year basis. On average, sell-side analysts expect that Visa Inc. will post 9.92 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several research analysts recently commented on the stock. William Blair raised shares of Visa to a “strong-buy” rating in a research report on Tuesday, July 23rd. Morgan Stanley reaffirmed an “overweight” rating and issued a $322.00 price target on shares of Visa in a report on Wednesday, September 25th. Oppenheimer started coverage on Visa in a report on Tuesday, October 1st. They set an “outperform” rating and a $318.00 target price on the stock. Robert W. Baird upped their price objective on shares of Visa from $320.00 to $330.00 and gave the company an “outperform” rating in a research report on Thursday, October 17th. Finally, Keefe, Bruyette & Woods raised Visa from a “moderate buy” rating to a “strong-buy” rating in a research note on Tuesday, September 24th. Four research analysts have rated the stock with a hold rating, twenty-three have assigned a buy rating and two have assigned a strong buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $314.19.

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.