Parnassus Investments LLC Raises Position in Visa Inc. (NYSE:V)

Parnassus Investments LLC lifted its stake in shares of Visa Inc. (NYSE:VFree Report) by 16.2% during the 3rd quarter, HoldingsChannel.com reports. The firm owned 4,535 shares of the credit-card processor’s stock after buying an additional 631 shares during the quarter. Parnassus Investments LLC’s holdings in Visa were worth $1,043,000 as of its most recent SEC filing.

Other large investors have also modified their holdings of the company. Investment Advisory Services Inc. TX ADV lifted its position in shares of Visa by 2.0% during the third quarter. Investment Advisory Services Inc. TX ADV now owns 3,930 shares of the credit-card processor’s stock worth $904,000 after purchasing an additional 78 shares during the last quarter. Camarda Financial Advisors LLC lifted its holdings in Visa by 3.0% in the second quarter. Camarda Financial Advisors LLC now owns 6,249 shares of the credit-card processor’s stock worth $1,484,000 after acquiring an additional 182 shares during the last quarter. Cibc World Market Inc. lifted its holdings in Visa by 1.8% in the second quarter. Cibc World Market Inc. now owns 783,402 shares of the credit-card processor’s stock worth $186,042,000 after acquiring an additional 14,022 shares during the last quarter. Paulson Wealth Management Inc. lifted its holdings in Visa by 43.0% in the second quarter. Paulson Wealth Management Inc. now owns 3,398 shares of the credit-card processor’s stock worth $807,000 after acquiring an additional 1,022 shares during the last quarter. Finally, Wayfinding Financial LLC lifted its holdings in Visa by 10.1% in the third quarter. Wayfinding Financial LLC now owns 1,757 shares of the credit-card processor’s stock worth $406,000 after acquiring an additional 161 shares during the last quarter. Institutional investors own 81.35% of the company’s stock.

Visa Trading Down 0.6 %

Shares of NYSE:V opened at $275.58 on Tuesday. The firm has a fifty day moving average of $262.82 and a two-hundred day moving average of $248.35. The firm has a market capitalization of $506.11 billion, a P/E ratio of 31.71, a price-to-earnings-growth ratio of 1.91 and a beta of 0.97. Visa Inc. has a 12-month low of $208.76 and a 12-month high of $279.99. The company has a quick ratio of 1.45, a current ratio of 1.45 and a debt-to-equity ratio of 0.54.

Visa (NYSE:VGet Free Report) last issued its earnings results on Thursday, January 25th. The credit-card processor reported $2.41 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.34 by $0.07. Visa had a net margin of 53.92% and a return on equity of 50.02%. The company had revenue of $8.63 billion during the quarter, compared to analyst estimates of $8.55 billion. During the same quarter last year, the business posted $2.18 EPS. The company’s revenue for the quarter was up 9.3% on a year-over-year basis. On average, equities analysts expect that Visa Inc. will post 9.91 EPS for the current fiscal year.

Visa Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, March 1st. Investors of record on Friday, February 9th will be paid a $0.52 dividend. This represents a $2.08 annualized dividend and a dividend yield of 0.75%. The ex-dividend date of this dividend is Thursday, February 8th. Visa’s payout ratio is presently 23.94%.

Insider Activity at Visa

In related news, insider Rajat Taneja sold 36,546 shares of Visa stock in a transaction on Friday, January 19th. The shares were sold at an average price of $270.20, for a total value of $9,874,729.20. Following the completion of the sale, the insider now owns 232,112 shares of the company’s stock, valued at approximately $62,716,662.40. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In other Visa news, CEO Ryan Mcinerney sold 8,150 shares of the company’s stock in a transaction dated Thursday, February 1st. The shares were sold at an average price of $273.39, for a total transaction of $2,228,128.50. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Rajat Taneja sold 36,546 shares of the company’s stock in a transaction dated Friday, January 19th. The shares were sold at an average price of $270.20, for a total transaction of $9,874,729.20. Following the sale, the insider now owns 232,112 shares of the company’s stock, valued at $62,716,662.40. The disclosure for this sale can be found here. In the last 90 days, insiders sold 94,857 shares of company stock valued at $24,966,149. Insiders own 0.19% of the company’s stock.

Wall Street Analyst Weigh In

V has been the topic of a number of recent research reports. Citigroup raised their target price on shares of Visa from $296.00 to $306.00 and gave the stock a “buy” rating in a report on Thursday, January 18th. JPMorgan Chase & Co. cut their target price on shares of Visa from $296.00 to $293.00 and set an “overweight” rating on the stock in a report on Monday, October 9th. Oppenheimer lifted their price target on Visa from $248.00 to $252.00 and gave the company an “outperform” rating in a report on Wednesday, October 18th. Wedbush lifted their price target on Visa from $270.00 to $280.00 and gave the company an “outperform” rating in a report on Friday, January 26th. Finally, UBS Group lifted their price target on Visa from $305.00 to $315.00 and gave the company a “buy” rating in a report on Friday, January 26th. Four analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the stock. According to data from MarketBeat, Visa currently has a consensus rating of “Moderate Buy” and a consensus price target of $290.55.

View Our Latest Stock Report on V

About Visa

(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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Institutional Ownership by Quarter for Visa (NYSE:V)

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