Parsons Capital Management Inc. RI reduced its position in Visa Inc. (NYSE:V - Free Report) by 2.4% during the first quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 48,665 shares of the credit-card processor's stock after selling 1,203 shares during the quarter. Visa makes up about 0.9% of Parsons Capital Management Inc. RI's portfolio, making the stock its 20th largest position. Parsons Capital Management Inc. RI's holdings in Visa were worth $17,055,000 at the end of the most recent reporting period.
Other institutional investors also recently modified their holdings of the company. Hirtle Callaghan & Co LLC increased its holdings in Visa by 1.3% during the 4th quarter. Hirtle Callaghan & Co LLC now owns 2,291 shares of the credit-card processor's stock valued at $724,000 after purchasing an additional 29 shares in the last quarter. FWL Investment Management LLC increased its stake in shares of Visa by 0.5% in the 4th quarter. FWL Investment Management LLC now owns 6,344 shares of the credit-card processor's stock valued at $2,005,000 after buying an additional 29 shares during the period. Elevation Wealth Partners LLC increased its stake in shares of Visa by 3.3% in the 4th quarter. Elevation Wealth Partners LLC now owns 939 shares of the credit-card processor's stock valued at $297,000 after buying an additional 30 shares during the period. Warther Private Wealth LLC increased its stake in shares of Visa by 1.0% in the 4th quarter. Warther Private Wealth LLC now owns 2,935 shares of the credit-card processor's stock valued at $928,000 after buying an additional 30 shares during the period. Finally, Valmark Advisers Inc. increased its stake in shares of Visa by 0.4% in the 4th quarter. Valmark Advisers Inc. now owns 7,251 shares of the credit-card processor's stock valued at $2,292,000 after buying an additional 30 shares during the period. 82.15% of the stock is owned by institutional investors.
Visa Price Performance
Shares of Visa stock traded down $18.65 during trading hours on Friday, reaching $352.75. The company's stock had a trading volume of 14,176,249 shares, compared to its average volume of 7,017,457. The firm has a 50 day moving average price of $349.76 and a 200-day moving average price of $337.45. Visa Inc. has a one year low of $252.70 and a one year high of $375.51. The company has a debt-to-equity ratio of 0.45, a current ratio of 1.12 and a quick ratio of 1.12. The stock has a market cap of $650.87 billion, a P/E ratio of 35.56, a P/E/G ratio of 2.33 and a beta of 0.94.
Visa (NYSE:V - Get Free Report) last released its quarterly earnings results on Tuesday, April 29th. The credit-card processor reported $2.76 EPS for the quarter, topping analysts' consensus estimates of $2.68 by $0.08. The firm had revenue of $9.59 billion during the quarter, compared to analysts' expectations of $9.57 billion. Visa had a net margin of 54.27% and a return on equity of 54.79%. The firm's revenue for the quarter was up 9.3% compared to the same quarter last year. During the same period in the previous year, the company earned $2.51 EPS. On average, analysts predict that Visa Inc. will post 11.3 EPS for the current year.
Visa Dividend Announcement
The company also recently announced a quarterly dividend, which was paid on Monday, June 2nd. Shareholders of record on Tuesday, May 13th were paid a $0.59 dividend. The ex-dividend date was Tuesday, May 13th. This represents a $2.36 annualized dividend and a yield of 0.67%. Visa's dividend payout ratio (DPR) is 23.72%.
Insider Buying and Selling at Visa
In other news, insider Paul D. Fabara sold 39,350 shares of the firm's stock in a transaction dated Wednesday, March 19th. The shares were sold at an average price of $340.41, for a total value of $13,395,133.50. Following the transaction, the insider now directly owns 26,413 shares of the company's stock, valued at approximately $8,991,249.33. This trade represents a 59.84% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, CEO Ryan Mcinerney sold 8,620 shares of the firm's stock in a transaction dated Monday, June 2nd. The stock was sold at an average price of $362.77, for a total transaction of $3,127,077.40. Following the completion of the transaction, the chief executive officer now directly owns 537 shares in the company, valued at approximately $194,807.49. This represents a 94.14% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 140,448 shares of company stock worth $50,133,659. 0.13% of the stock is owned by corporate insiders.
Wall Street Analyst Weigh In
A number of equities research analysts recently commented on the company. BMO Capital Markets lifted their price objective on Visa from $370.00 to $380.00 and gave the stock an "outperform" rating in a research note on Wednesday, April 30th. Evercore ISI assumed coverage on Visa in a research note on Wednesday, April 9th. They set an "in-line" rating and a $330.00 price objective for the company. Susquehanna reaffirmed a "positive" rating on shares of Visa in a research note on Friday, March 21st. The Goldman Sachs Group assumed coverage on Visa in a research note on Monday, June 2nd. They set a "neutral" rating for the company. Finally, Truist Financial assumed coverage on Visa in a research note on Monday, June 2nd. They set a "buy" rating and a $400.00 price objective for the company. Five investment analysts have rated the stock with a hold rating, twenty-three have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, Visa currently has a consensus rating of "Moderate Buy" and a consensus target price of $372.80.
Read Our Latest Analysis on V
Visa Profile
(
Free Report)
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.
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