Visa Inc. $V Shares Sold by Franklin Parlapiano Turner & Welch LLC

Franklin Parlapiano Turner & Welch LLC lessened its holdings in shares of Visa Inc. (NYSE:V) by 4.4% in the second quarter, Holdings Channel.com reports. The firm owned 29,516 shares of the credit-card processor’s stock after selling 1,343 shares during the period. Visa comprises 2.7% of Franklin Parlapiano Turner & Welch LLC’s portfolio, making the stock its 6th largest holding. Franklin Parlapiano Turner & Welch LLC’s holdings in Visa were worth $10,480,000 at the end of the most recent quarter.

A number of other hedge funds have also recently bought and sold shares of the business. Nationale Nederlanden Powszechne Towarzystwo Emerytalne S.A. grew its stake in Visa by 1.3% during the 2nd quarter. Nationale Nederlanden Powszechne Towarzystwo Emerytalne S.A. now owns 5,310 shares of the credit-card processor’s stock valued at $1,885,000 after purchasing an additional 67 shares in the last quarter. Vanguard Personalized Indexing Management LLC grew its stake in Visa by 19.0% during the 2nd quarter. Vanguard Personalized Indexing Management LLC now owns 262,665 shares of the credit-card processor’s stock valued at $93,545,000 after purchasing an additional 42,008 shares in the last quarter. Oak Ridge Investments LLC grew its stake in Visa by 1.0% during the 2nd quarter. Oak Ridge Investments LLC now owns 80,057 shares of the credit-card processor’s stock valued at $28,424,000 after purchasing an additional 821 shares in the last quarter. Muirfield Wealth Advisors LLC grew its stake in Visa by 5.9% during the 2nd quarter. Muirfield Wealth Advisors LLC now owns 1,464 shares of the credit-card processor’s stock valued at $520,000 after purchasing an additional 81 shares in the last quarter. Finally, Concurrent Investment Advisors LLC grew its stake in Visa by 9.8% during the 2nd quarter. Concurrent Investment Advisors LLC now owns 76,781 shares of the credit-card processor’s stock valued at $27,261,000 after purchasing an additional 6,879 shares in the last quarter. Institutional investors and hedge funds own 82.15% of the company’s stock.

Insider Activity at Visa

In related news, CEO Ryan Mcinerney sold 10,485 shares of the firm’s stock in a transaction that occurred on Wednesday, October 1st. The stock was sold at an average price of $342.30, for a total value of $3,589,015.50. Following the sale, the chief executive officer owned 537 shares of the company’s stock, valued at approximately $183,815.10. This trade represents a 95.13% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, General Counsel Julie B. Rottenberg sold 2,027 shares of the firm’s stock in a transaction that occurred on Monday, August 18th. The stock was sold at an average price of $344.02, for a total value 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 disclosure for this sale can be found here. Company insiders own 0.13% of the company’s stock.

Visa Trading Down 0.7%

Shares of NYSE V opened at $345.81 on Thursday. The company has a market cap of $633.80 billion, a price-to-earnings ratio of 33.77, a price-to-earnings-growth ratio of 2.06 and a beta of 0.90. Visa Inc. has a 12-month low of $278.35 and a 12-month high of $375.51. 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 stock’s 50 day simple moving average is $344.14 and its 200 day simple moving average is $346.97.

Visa (NYSE:V) last announced its quarterly earnings results on Tuesday, July 29th. The credit-card processor reported $2.98 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.85 by $0.13. The business had revenue of $10.17 billion for the quarter, compared to the consensus estimate of $9.82 billion. Visa had a return on equity of 58.93% and a net margin of 52.16%.The business’s revenue was up 14.3% on a year-over-year basis. During the same quarter last year, the business posted $2.42 EPS. Equities research analysts expect that Visa Inc. will post 11.3 EPS for the current year.

Visa Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, September 2nd. Investors of record on Tuesday, August 12th were issued a $0.59 dividend. The ex-dividend date of this dividend was Tuesday, August 12th. This represents a $2.36 annualized dividend and a dividend yield of 0.7%. Visa’s dividend payout ratio (DPR) is 23.05%.

Analyst Ratings Changes

A number of equities research analysts have weighed in on V shares. Raymond James Financial restated an “outperform” rating on shares of Visa in a research note on Wednesday, July 30th. Oppenheimer raised their price objective on Visa from $390.00 to $391.00 and gave the company an “outperform” rating in a research note on Wednesday, July 2nd. Barclays restated an “overweight” rating and set a $408.00 price objective (up previously from $396.00) on shares of Visa in a research note on Thursday, July 31st. Robert W. Baird set a $410.00 target price on Visa and gave the stock an “outperform” rating in a report on Monday, October 6th. Finally, UBS Group reaffirmed a “buy” rating and set a $415.00 target price (up previously from $405.00) on shares of Visa in a report on Wednesday, July 30th. One analyst has rated the stock with a Strong Buy rating, twenty-one have issued a Buy rating and five have assigned a Hold rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $389.00.

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.