Visa Inc. (NYSE:V) Position Lowered by Franklin Parlapiano Turner & Welch LLC

Franklin Parlapiano Turner & Welch LLC cut its stake in shares of Visa Inc. (NYSE:V - Free Report) by 3.4% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 30,859 shares of the credit-card processor's stock after selling 1,092 shares during the quarter. Visa accounts for approximately 2.9% of Franklin Parlapiano Turner & Welch LLC's holdings, making the stock its 5th biggest position. Franklin Parlapiano Turner & Welch LLC's holdings in Visa were worth $10,815,000 at the end of the most recent reporting period.

Several other hedge funds have also recently modified their holdings of V. Vanguard Group Inc. raised its stake in shares of Visa by 4.6% during the 4th quarter. Vanguard Group Inc. now owns 159,405,343 shares of the credit-card processor's stock worth $50,378,465,000 after buying an additional 7,079,706 shares in the last quarter. Geode Capital Management LLC boosted its stake in shares of Visa by 4.4% in the fourth quarter. Geode Capital Management LLC now owns 40,345,176 shares of the credit-card processor's stock valued at $12,729,901,000 after buying an additional 1,689,926 shares in the last quarter. Capital International Investors grew its holdings in Visa by 3.8% during the fourth quarter. Capital International Investors now owns 23,816,573 shares of the credit-card processor's stock worth $7,526,660,000 after acquiring an additional 866,596 shares during the period. Capital World Investors grew its holdings in Visa by 1.0% during the fourth quarter. Capital World Investors now owns 23,277,622 shares of the credit-card processor's stock worth $7,356,614,000 after acquiring an additional 241,057 shares during the period. Finally, Northern Trust Corp raised its position in Visa by 18.0% in the fourth quarter. Northern Trust Corp now owns 18,260,714 shares of the credit-card processor's stock worth $5,771,116,000 after acquiring an additional 2,785,707 shares in the last quarter. 82.15% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several equities research analysts have commented on the stock. Susquehanna restated a "positive" rating on shares of Visa in a research report on Friday, March 21st. The Goldman Sachs Group began coverage on shares of Visa in a report on Monday, June 2nd. They set a "neutral" rating on the stock. Oppenheimer upped their target price on shares of Visa from $390.00 to $391.00 and gave the stock an "outperform" rating in a research report on Wednesday. Truist Financial began coverage on shares of Visa in a research report on Monday, June 2nd. They set a "buy" rating and a $400.00 price target for the company. Finally, Barclays reissued an "overweight" rating on shares of Visa in a research note on Friday, June 13th. Five investment analysts have rated the stock with a hold rating, twenty-three have issued a buy rating and one has issued a strong buy rating to the company's stock. Based on data from MarketBeat, Visa presently has a consensus rating of "Moderate Buy" and a consensus price target of $372.84.

Visa Trading Down 0.4%

V stock traded down $1.48 during midday trading on Wednesday, hitting $353.99. The stock had a trading volume of 5,130,608 shares, compared to its average volume of 6,867,561. Visa Inc. has a 12-month low of $252.70 and a 12-month high of $375.51. The firm has a market cap of $653.17 billion, a PE ratio of 35.58, a price-to-earnings-growth ratio of 2.39 and a beta of 0.92. The company's 50-day moving average price is $354.48 and its 200 day moving average price is $340.57. The company has a debt-to-equity ratio of 0.45, a current ratio of 1.08 and a quick ratio of 1.08.

Visa (NYSE:V - Get Free Report) last announced its quarterly earnings data on Tuesday, April 29th. The credit-card processor reported $2.76 EPS for the quarter, beating analysts' consensus estimates of $2.68 by $0.08. Visa had a return on equity of 56.28% and a net margin of 52.86%. The business had revenue of $9.59 billion during the quarter, compared to the consensus estimate of $9.57 billion. During the same quarter in the previous year, the business earned $2.51 earnings per share. The business's revenue for the quarter was up 9.3% on a year-over-year basis. On average, equities research analysts predict that Visa Inc. will post 11.3 earnings per share for the current fiscal year.

Visa Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, June 2nd. Stockholders of record on Tuesday, May 13th were paid a dividend of $0.59 per share. This represents a $2.36 dividend on an annualized basis and a dividend yield of 0.67%. The ex-dividend date was Tuesday, May 13th. Visa's dividend payout ratio is currently 23.72%.

Insider Activity

In related news, insider Paul D. Fabara sold 46,214 shares of the firm's stock in a transaction that occurred on Thursday, June 5th. The shares were sold at an average price of $370.00, for a total value of $17,099,180.00. Following the sale, the insider directly owned 26,413 shares of the company's stock, valued at approximately $9,772,810. This trade represents a 63.63% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, General Counsel Julie B. Rottenberg sold 2,575 shares of the business's stock in a transaction that occurred on Thursday, May 1st. The shares were sold at an average price of $345.58, for a total transaction of $889,868.50. Following the completion of the sale, the general counsel owned 11,925 shares of the company's stock, valued at approximately $4,121,041.50. The trade was a 17.76% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 92,478 shares of company stock valued at $33,717,733 in the last 90 days. 0.13% of the stock is currently owned by insiders.

About Visa

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.