Parnassus Investments LLC Purchases 631 Shares of Visa Inc. (NYSE:V)

Parnassus Investments LLC increased its stake in shares of Visa Inc. (NYSE:VFree Report) by 16.2% during the 3rd quarter, according to the company in its most recent filing with the SEC. The fund owned 4,535 shares of the credit-card processor’s stock after purchasing an additional 631 shares during the quarter. Parnassus Investments LLC’s holdings in Visa were worth $1,043,000 at the end of the most recent quarter.

Other hedge funds also recently bought and sold shares of the company. Investment Advisory Services Inc. TX ADV lifted its holdings in shares of Visa by 2.0% in the 3rd quarter. Investment Advisory Services Inc. TX ADV now owns 3,930 shares of the credit-card processor’s stock worth $904,000 after buying an additional 78 shares during the period. Camarda Financial Advisors LLC lifted its stake in shares of Visa by 3.0% during the 2nd quarter. Camarda Financial Advisors LLC now owns 6,249 shares of the credit-card processor’s stock worth $1,484,000 after purchasing an additional 182 shares during the last quarter. Cibc World Market Inc. lifted its stake in shares of Visa by 1.8% during the 2nd quarter. Cibc World Market Inc. now owns 783,402 shares of the credit-card processor’s stock worth $186,042,000 after purchasing an additional 14,022 shares during the last quarter. Paulson Wealth Management Inc. lifted its stake in shares of Visa by 43.0% during the 2nd quarter. Paulson Wealth Management Inc. now owns 3,398 shares of the credit-card processor’s stock worth $807,000 after purchasing an additional 1,022 shares during the last quarter. Finally, Wayfinding Financial LLC lifted its stake in shares of Visa by 10.1% during the 3rd quarter. Wayfinding Financial LLC now owns 1,757 shares of the credit-card processor’s stock worth $406,000 after purchasing an additional 161 shares during the last quarter. Institutional investors own 81.35% of the company’s stock.

Insider Activity

In related news, CEO Ryan Mcinerney sold 8,150 shares of Visa stock in a transaction that occurred on Thursday, February 1st. The stock was sold at an average price of $273.39, for a total transaction of $2,228,128.50. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. In other news, insider Rajat Taneja sold 7,811 shares of Visa stock in a transaction on Wednesday, November 22nd. The stock was sold at an average price of $253.17, for a total value of $1,977,510.87. Following the completion of the sale, the insider now directly owns 232,112 shares of the company’s stock, valued at $58,763,795.04. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, CEO Ryan Mcinerney sold 8,150 shares of Visa stock in a transaction on Thursday, February 1st. The shares were sold at an average price of $273.39, for a total value of $2,228,128.50. The disclosure for this sale can be found here. Insiders have sold a total of 94,857 shares of company stock worth $24,966,149 over the last quarter. 0.19% of the stock is currently owned by corporate insiders.

Visa Stock Performance

Shares of V stock opened at $275.58 on Tuesday. The company has a market capitalization of $506.11 billion, a P/E ratio of 31.71, a P/E/G ratio of 1.91 and a beta of 0.97. The business’s 50 day moving average is $262.82 and its two-hundred day moving average is $248.35. The company has a current ratio of 1.45, a quick ratio of 1.45 and a debt-to-equity ratio of 0.54. Visa Inc. has a 12-month low of $208.76 and a 12-month high of $279.99.

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

Visa Announces Dividend

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

Wall Street Analysts Forecast Growth

A number of equities research analysts recently weighed in on the company. UBS Group upped their price objective on Visa from $305.00 to $315.00 and gave the stock a “buy” rating in a research note on Friday, January 26th. Royal Bank of Canada upped their target price on Visa from $290.00 to $309.00 and gave the company an “outperform” rating in a research report on Friday, January 26th. Monness Crespi & Hardt assumed coverage on Visa in a research report on Wednesday, December 20th. They set a “neutral” rating on the stock. Barclays upped their target price on Visa from $304.00 to $319.00 and gave the company an “overweight” rating in a research report on Monday, January 29th. Finally, Seaport Res Ptn reaffirmed a “neutral” rating on shares of Visa in a research report on Thursday, October 12th. Four analysts have rated the stock with a hold rating and seventeen have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $290.55.

Check Out Our Latest Stock Analysis on Visa

Visa Profile

(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.

Recommended Stories

Institutional Ownership by Quarter for Visa (NYSE:V)

Receive News & Ratings for Visa Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Visa and related companies with MarketBeat.com's FREE daily email newsletter.