Parr Mcknight Wealth Management Group LLC Buys 805 Shares of Visa Inc. (NYSE:V)

Parr Mcknight Wealth Management Group LLC increased its stake in Visa Inc. (NYSE:V - Free Report) by 14.7% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 6,284 shares of the credit-card processor's stock after purchasing an additional 805 shares during the period. Parr Mcknight Wealth Management Group LLC's holdings in Visa were worth $2,202,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the stock. von Borstel & Associates Inc. acquired a new position in shares of Visa during the 1st quarter worth about $27,000. Sellwood Investment Partners LLC acquired a new position in shares of Visa during the 4th quarter worth about $41,000. Mountain Hill Investment Partners Corp. acquired a new position in shares of Visa during the 4th quarter worth about $47,000. Measured Risk Portfolios Inc. acquired a new position in shares of Visa during the 4th quarter worth about $47,000. Finally, Navigoe LLC acquired a new position in shares of Visa during the 4th quarter worth about $53,000. 82.15% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of equities analysts have recently commented on V shares. BMO Capital Markets increased their price objective on shares of Visa from $370.00 to $380.00 and gave the stock an "outperform" rating in a research note on Wednesday, April 30th. UBS Group increased their price objective on shares of Visa from $395.00 to $405.00 and gave the stock a "buy" rating in a research note on Wednesday, May 28th. Jefferies Financial Group upped their target price on shares of Visa from $400.00 to $410.00 and gave the company a "buy" rating in a report on Tuesday, May 27th. Barclays reaffirmed an "overweight" rating on shares of Visa in a report on Friday, June 13th. Finally, Citigroup started coverage on shares of Visa in a report on Monday, June 2nd. They issued a "buy" rating on the stock. Five equities research analysts have rated the stock with a hold rating, twenty-three have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus target price of $372.84.

Visa Stock Performance

Shares of V traded down $8.17 during mid-day trading on Friday, hitting $347.71. 7,577,927 shares of the company's stock were exchanged, compared to its average volume of 6,821,741. Visa Inc. has a 52 week low of $252.70 and a 52 week high of $375.51. The stock's 50-day simple moving average is $356.93 and its 200-day simple moving average is $342.37. The firm has a market cap of $641.58 billion, a price-to-earnings ratio of 34.95, a price-to-earnings-growth ratio of 2.41 and a beta of 0.92. The company has a quick ratio of 1.08, a current ratio of 1.08 and a debt-to-equity ratio of 0.45.

Visa (NYSE:V - Get Free Report) last announced its earnings results on Tuesday, April 29th. The credit-card processor reported $2.76 EPS for the quarter, topping the consensus estimate of $2.68 by $0.08. Visa had a net margin of 52.86% and a return on equity of 56.28%. The company had revenue of $9.59 billion for the quarter, compared to analysts' expectations of $9.57 billion. During the same period last year, the firm 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 expect that Visa Inc. will post 11.3 EPS for the current year.

Visa Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, June 2nd. Stockholders of record on Tuesday, May 13th were issued a dividend of $0.59 per share. The ex-dividend date was Tuesday, May 13th. This represents a $2.36 annualized dividend and a dividend yield of 0.68%. Visa's dividend payout ratio is presently 23.72%.

Insider Transactions at Visa

In related news, General Counsel Julie B. Rottenberg sold 2,575 shares of Visa stock in a transaction that occurred on Thursday, May 1st. The shares were sold at an average price of $345.58, for a total value of $889,868.50. Following the transaction, the general counsel directly owned 11,925 shares of the company's stock, valued at $4,121,041.50. This trade represents a 17.76% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, insider Paul D. Fabara sold 46,214 shares of Visa stock in a transaction that occurred on Thursday, June 5th. The shares were sold at an average price of $370.00, for a total transaction of $17,099,180.00. Following the completion of the transaction, the insider directly owned 26,413 shares in the company, valued at $9,772,810. This trade represents a 63.63% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 101,108 shares of company stock valued at $36,771,200. 0.13% of the stock is currently owned by company 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.