Parallel Advisors LLC Purchases 2,117 Shares of Visa Inc. (NYSE:V)

Parallel Advisors LLC increased its position in shares of Visa Inc. (NYSE:V) by 2.8% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 77,744 shares of the credit-card processor’s stock after buying an additional 2,117 shares during the quarter. Visa accounts for about 0.6% of Parallel Advisors LLC’s portfolio, making the stock its 26th biggest holding. Parallel Advisors LLC’s holdings in Visa were worth $24,570,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also bought and sold shares of V. Swedbank AB lifted its position in Visa by 10.7% during the 3rd quarter. Swedbank AB now owns 2,059,111 shares of the credit-card processor’s stock worth $566,153,000 after buying an additional 199,440 shares in the last quarter. Howard Capital Management Group LLC increased its position in shares of Visa by 0.6% in the third quarter. Howard Capital Management Group LLC now owns 106,355 shares of the credit-card processor’s stock valued at $29,242,000 after acquiring an additional 610 shares during the last quarter. Pettinga Financial Advisors LLC bought a new stake in Visa during the third quarter worth about $228,000. Principal Financial Group Inc. boosted its position in Visa by 7.7% during the third quarter. Principal Financial Group Inc. now owns 5,733,284 shares of the credit-card processor’s stock valued at $1,576,366,000 after purchasing an additional 411,210 shares during the last quarter. Finally, GSA Capital Partners LLP bought a new position in Visa in the third quarter valued at approximately $660,000. Institutional investors and hedge funds own 82.15% of the company’s stock.

Insider Transactions at Visa

In other Visa news, insider Paul D. Fabara sold 39,350 shares of the firm’s stock in a transaction that occurred on Friday, March 14th. The shares were sold at an average price of $327.20, for a total value of $12,875,320.00. Following the sale, the insider now owns 26,413 shares in the company, valued at $8,642,333.60. This trade represents a 59.84 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. Also, CEO Ryan Mcinerney sold 8,620 shares of the stock in a transaction on Monday, March 3rd. The shares were sold at an average price of $363.00, for a total value of $3,129,060.00. Following the completion of the transaction, the chief executive officer now owns 537 shares of the company’s stock, valued at $194,931. The trade was a 94.14 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 103,855 shares of company stock valued at $35,165,827. Corporate insiders own 0.13% of the company’s stock.

Visa Trading Up 1.0 %

Shares of NYSE:V opened at $331.72 on Monday. The company has a market capitalization of $616.26 billion, a P/E ratio of 33.44, a P/E/G ratio of 2.33 and a beta of 0.95. 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 business’s 50 day simple moving average is $337.96 and its 200 day simple moving average is $311.19. Visa Inc. has a 1 year low of $252.70 and a 1 year high of $366.54.

Visa (NYSE:V) last released its earnings results on Thursday, January 30th. The credit-card processor reported $2.75 EPS for the quarter, beating the consensus estimate of $2.66 by $0.09. Visa had a net margin of 54.27% and a return on equity of 54.79%. On average, research analysts anticipate that Visa Inc. will post 11.3 EPS for the current fiscal year.

Visa Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, March 3rd. Shareholders of record on Tuesday, February 11th were issued a $0.59 dividend. This represents a $2.36 dividend on an annualized basis and a dividend yield of 0.71%. The ex-dividend date of this dividend was Tuesday, February 11th. Visa’s dividend payout ratio is presently 23.79%.

Wall Street Analyst Weigh In

A number of equities research analysts have recently issued reports on V shares. Piper Sandler reiterated an “overweight” rating and set a $383.00 price objective (up previously from $368.00) on shares of Visa in a research note on Friday, January 31st. Susquehanna upped their price target on shares of Visa from $395.00 to $410.00 and gave the stock a “positive” rating in a research report on Friday, February 21st. Oppenheimer reissued an “outperform” rating on shares of Visa in a research report on Thursday, February 13th. Bank of America upped their target price on shares of Visa from $331.00 to $363.00 and gave the company a “neutral” rating in a report on Friday, January 31st. Finally, UBS Group lifted their price target on Visa from $350.00 to $400.00 and gave the stock a “buy” rating in a report on Friday, January 31st. Seven investment analysts have rated the stock with a hold rating, twenty-two have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $353.96.

Visa 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.