Visa Inc. $V Holdings Raised by Parallel Advisors LLC

Key Points

• Parallel Advisors LLC increased its stake in Visa Inc. by 3.2%, now holding 83,385 shares valued at approximately $29.6 million, making Visa its 24th largest holding.
• Recent transactions by Visa insiders saw General Counsel Julie B. Rottenberg sell 2,027 shares and CEO Ryan Mcinerney sell 8,630 shares, with decreases in their respective ownerships of 14.53% and 94.14%.
• Visa's quarterly earnings surpassed expectations with $2.98 EPS reported, along with a revenue of $10.17 billion, marking a significant 14.3% increase compared to the previous year.

Parallel Advisors LLC lifted its stake in shares of Visa Inc. (NYSE:V - Free Report) by 3.2% during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 83,385 shares of the credit-card processor's stock after purchasing an additional 2,592 shares during the quarter. Visa comprises about 0.6% of Parallel Advisors LLC's investment portfolio, making the stock its 24th largest holding. Parallel Advisors LLC's holdings in Visa were worth $29,606,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors have also modified their holdings of the stock. Yeomans Consulting Group Inc. raised its stake in shares of Visa by 2.9% during the first quarter. Yeomans Consulting Group Inc. now owns 1,027 shares of the credit-card processor's stock valued at $360,000 after purchasing an additional 29 shares in the last quarter. Semus Wealth Partners LLC grew its holdings in Visa by 0.8% during the first quarter. Semus Wealth Partners LLC now owns 3,449 shares of the credit-card processor's stock worth $1,209,000 after acquiring an additional 29 shares during the period. Headinvest LLC grew its holdings in Visa by 0.8% during the fourth quarter. Headinvest LLC now owns 4,003 shares of the credit-card processor's stock worth $1,265,000 after acquiring an additional 30 shares during the period. Kennebec Savings Bank grew its holdings in Visa by 0.9% during the first quarter. Kennebec Savings Bank now owns 3,372 shares of the credit-card processor's stock worth $1,182,000 after acquiring an additional 30 shares during the period. Finally, Capital Advisors Ltd. LLC grew its holdings in Visa by 0.8% during the first quarter. Capital Advisors Ltd. LLC now owns 3,839 shares of the credit-card processor's stock worth $1,345,000 after acquiring an additional 30 shares during the period. 82.15% of the stock is currently owned by institutional investors.

Insider Transactions at Visa

In other Visa news, General Counsel Julie B. Rottenberg sold 2,027 shares of the firm's stock in a transaction dated Monday, August 18th. The stock was sold at an average price of $344.02, for a total transaction of $697,328.54. Following the completion of the sale, the general counsel directly owned 11,925 shares in the company, valued at approximately $4,102,438.50. This trade represents a 14.53% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CEO Ryan Mcinerney sold 8,630 shares of the firm's stock in a transaction dated Tuesday, July 1st. The stock was sold at an average price of $353.82, for a total value of $3,053,466.60. Following the sale, the chief executive officer owned 537 shares of the company's stock, valued at $190,001.34. The trade was a 94.14% decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 0.13% of the company's stock.

Analysts Set New Price Targets

A number of research firms recently issued reports on V. UBS Group reaffirmed a "buy" rating and set a $415.00 target price (up from $405.00) on shares of Visa in a report on Wednesday, July 30th. Raymond James Financial reaffirmed an "outperform" rating on shares of Visa in a report on Wednesday, July 30th. Mizuho raised Visa from a "neutral" rating to an "outperform" rating and lifted their target price for the stock from $359.00 to $425.00 in a report on Thursday, June 5th. Truist Financial lowered their target price on Visa from $400.00 to $397.00 and set a "buy" rating on the stock in a report on Thursday, July 17th. Finally, The Goldman Sachs Group started coverage on Visa in a report on Monday, June 2nd. They set a "neutral" rating on the stock. One analyst has rated the stock with a Strong Buy rating, twenty have issued a Buy rating and five have given a Hold rating to the stock. According to MarketBeat, Visa presently has a consensus rating of "Moderate Buy" and a consensus price target of $385.96.

Visa Trading Down 1.2%

Shares of NYSE V opened at $339.33 on Monday. Visa Inc. has a one year low of $268.23 and a one year high of $375.51. The firm has a market capitalization of $621.92 billion, a PE ratio of 33.14, a PEG ratio of 2.26 and a beta of 0.92. The company has a current ratio of 1.12, a quick ratio of 1.12 and a debt-to-equity ratio of 0.52. The business has a 50-day moving average price of $347.03 and a two-hundred day moving average price of $346.86.

Visa (NYSE:V - Get Free Report) last announced its quarterly earnings data on Tuesday, July 29th. The credit-card processor reported $2.98 EPS for the quarter, topping analysts' consensus estimates of $2.85 by $0.13. Visa had a return on equity of 58.93% and a net margin of 52.16%.The firm had revenue of $10.17 billion during the quarter, compared to analyst estimates of $9.82 billion. During the same period last year, the company posted $2.42 EPS. The business's quarterly revenue was up 14.3% compared to the same quarter last year. As a group, analysts predict that Visa Inc. will post 11.3 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 2nd. Shareholders of record on Tuesday, August 12th were given a dividend of $0.59 per share. The ex-dividend date was Tuesday, August 12th. This represents a $2.36 dividend on an annualized basis and a yield of 0.7%. Visa's dividend payout ratio (DPR) is presently 23.05%.

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.

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