Parnassus Investments LLC increased its stake in Visa Inc. (NYSE:V – Free Report) by 37.9% during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 3,362 shares of the credit-card processor’s stock after purchasing an additional 924 shares during the period. Parnassus Investments LLC’s holdings in Visa were worth $758,000 as of its most recent SEC filing.
Several other hedge funds have also bought and sold shares of V. Grace & White Inc. NY purchased a new position in shares of Visa during the 1st quarter valued at about $216,000. CM Wealth Advisors LLC purchased a new position in shares of Visa during the first quarter worth approximately $5,472,000. New World Advisors LLC lifted its holdings in shares of Visa by 15.6% in the 1st quarter. New World Advisors LLC now owns 2,567 shares of the credit-card processor’s stock worth $579,000 after acquiring an additional 346 shares during the last quarter. Fernwood Investment Management LLC boosted its stake in shares of Visa by 12.8% in the 1st quarter. Fernwood Investment Management LLC now owns 15,657 shares of the credit-card processor’s stock valued at $3,530,000 after purchasing an additional 1,778 shares in the last quarter. Finally, Mill Capital Management LLC raised its position in Visa by 0.3% in the 1st quarter. Mill Capital Management LLC now owns 206,042 shares of the credit-card processor’s stock worth $46,454,000 after purchasing an additional 713 shares during the period. 84.92% of the stock is currently owned by institutional investors.
Wall Street Analyst Weigh In
A number of equities research analysts recently commented on V shares. Raymond James upped their price target on shares of Visa from $281.00 to $282.00 in a report on Wednesday, April 26th. Robert W. Baird increased their target price on shares of Visa from $272.00 to $284.00 in a report on Wednesday, April 26th. StockNews.com started coverage on Visa in a report on Thursday, May 18th. They set a “buy” rating on the stock. 22nd Century Group reiterated a “maintains” rating on shares of Visa in a report on Wednesday, April 26th. Finally, BMO Capital Markets boosted their target price on Visa from $253.00 to $263.00 in a research note on Wednesday, April 26th. One investment analyst has rated the stock with a sell rating, two have given a hold rating and sixteen have given a buy rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $263.88.
Insider Buying and Selling
In other news, CFO Vasant M. Prabhu sold 40,000 shares of the business’s stock in a transaction dated Friday, April 28th. The stock was sold at an average price of $231.36, for a total value of $9,254,400.00. Following the transaction, the chief financial officer now directly owns 73,638 shares in the company, valued at $17,036,887.68. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. In related news, CFO Vasant M. Prabhu sold 40,000 shares of the firm’s stock in a transaction on Friday, April 28th. The shares were sold at an average price of $231.36, for a total transaction of $9,254,400.00. Following the completion of the transaction, the chief financial officer now directly owns 73,638 shares of the company’s stock, valued at $17,036,887.68. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Ryan Mcinerney sold 24,025 shares of the business’s stock in a transaction on Wednesday, July 5th. The stock was sold at an average price of $240.00, for a total transaction of $5,766,000.00. The disclosure for this sale can be found here. In the last quarter, insiders sold 165,727 shares of company stock valued at $38,891,141. Company insiders own 0.21% of the company’s stock.
Visa Trading Down 0.2 %
NYSE:V opened at $239.25 on Friday. The firm has a market capitalization of $448.19 billion, a price-to-earnings ratio of 31.99, a price-to-earnings-growth ratio of 1.87 and a beta of 0.97. The company has a debt-to-equity ratio of 0.56, a current ratio of 1.50 and a quick ratio of 1.50. The business has a fifty day moving average price of $231.29 and a 200-day moving average price of $227.22. Visa Inc. has a one year low of $174.60 and a one year high of $245.37.
Visa (NYSE:V – Get Free Report) last announced its quarterly earnings data on Tuesday, April 25th. The credit-card processor reported $2.09 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.97 by $0.12. Visa had a return on equity of 50.21% and a net margin of 50.95%. The company had revenue of $7.99 billion during the quarter, compared to the consensus estimate of $7.79 billion. During the same period in the previous year, the company posted $1.79 EPS. The firm’s revenue was up 11.1% on a year-over-year basis. Sell-side analysts forecast that Visa Inc. will post 8.59 EPS for the current year.
Visa Dividend Announcement
The company also recently announced a quarterly dividend, which was paid on Thursday, June 1st. Investors of record on Friday, May 12th were paid a dividend of $0.45 per share. This represents a $1.80 dividend on an annualized basis and a dividend yield of 0.75%. The ex-dividend date of this dividend was Thursday, May 11th. Visa’s dividend payout ratio (DPR) is 24.06%.
Visa Company Profile
Visa Inc operates as a payments technology company worldwide. 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, click to pay; Visa Direct, a real-time payments network; Visa B2B Connect, a multilateral B2B cross-border payments network; Visa Treasury as a Service, a cross-border consumer payments business; 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.
Further Reading
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