Franklin Parlapiano Turner & Welch LLC Decreases Position in Visa Inc. (NYSE:V)

Franklin Parlapiano Turner & Welch LLC decreased its position in Visa Inc. (NYSE:V) by 1.1% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 34,291 shares of the credit-card processor’s stock after selling 383 shares during the period. Visa accounts for 2.6% of Franklin Parlapiano Turner & Welch LLC’s portfolio, making the stock its 8th largest position. Franklin Parlapiano Turner & Welch LLC’s holdings in Visa were worth $9,570,000 at the end of the most recent reporting period.

Other hedge funds have also added to or reduced their stakes in the company. Livelsberger Financial Advisory bought a new position in Visa during the fourth quarter worth about $25,000. Westend Capital Management LLC bought a new position in Visa during the first quarter worth about $25,000. O Brien Wealth Partners LLC bought a new position in Visa during the fourth quarter worth about $32,000. Frank Rimerman Advisors LLC bought a new position in Visa during the fourth quarter worth about $33,000. Finally, Valued Wealth Advisors LLC bought a new position in Visa during the fourth quarter worth about $37,000. Institutional investors own 82.15% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts have issued reports on the company. UBS Group raised their target price on Visa from $315.00 to $325.00 and gave the stock a “buy” rating in a report on Wednesday, April 24th. William Blair restated an “outperform” rating on shares of Visa in a report on Wednesday, April 24th. Oppenheimer raised their price target on Visa from $297.00 to $299.00 and gave the stock an “outperform” rating in a research report on Wednesday, April 24th. Mizuho raised their price target on Visa from $265.00 to $275.00 and gave the stock a “neutral” rating in a research report on Thursday, May 2nd. Finally, Piper Sandler began coverage on Visa in a research report on Monday, May 13th. They set an “overweight” rating and a $322.00 price target on the stock. Six analysts have rated the stock with a hold rating and twenty-one have issued a buy rating to the company. According to MarketBeat.com, Visa has an average rating of “Moderate Buy” and a consensus price target of $304.44.

Insider Transactions at Visa

In other news, Director Lloyd Carney sold 909 shares of Visa stock in a transaction that occurred on Friday, April 26th. The stock was sold at an average price of $275.55, for a total transaction of $250,474.95. Following the completion of the transaction, the director now directly owns 2,591 shares in the company, valued at approximately $713,950.05. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other news, Director Lloyd Carney sold 909 shares of Visa stock in a transaction that occurred on Friday, April 26th. The stock was sold at an average price of $275.55, for a total transaction of $250,474.95. Following the completion of the transaction, the director now directly owns 2,591 shares in the company, valued at approximately $713,950.05. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Paul D. Fabara sold 25,293 shares of Visa stock in a transaction that occurred on Wednesday, May 15th. The stock was sold at an average price of $277.15, for a total value of $7,009,954.95. Following the transaction, the insider now owns 17,894 shares of the company’s stock, valued at $4,959,322.10. The disclosure for this sale can be found here. 0.19% of the stock is currently owned by corporate insiders.

Visa Stock Down 1.7 %

V stock traded down $4.60 during mid-day trading on Wednesday, reaching $260.84. The company had a trading volume of 1,843,755 shares, compared to its average volume of 6,796,328. The company has a debt-to-equity ratio of 0.53, a current ratio of 1.40 and a quick ratio of 1.40. The stock has a 50 day simple moving average of $273.07 and a two-hundred day simple moving average of $274.01. The company has a market capitalization of $477.06 billion, a price-to-earnings ratio of 29.23, a PEG ratio of 1.82 and a beta of 0.95. Visa Inc. has a 52 week low of $227.68 and a 52 week high of $290.96.

Visa (NYSE:V) last posted its quarterly earnings results on Tuesday, April 23rd. The credit-card processor reported $2.51 earnings per share for the quarter, beating analysts’ consensus estimates of $2.43 by $0.08. The firm had revenue of $8.78 billion during the quarter, compared to the consensus estimate of $8.62 billion. Visa had a return on equity of 51.23% and a net margin of 53.87%. The business’s revenue was up 9.9% compared to the same quarter last year. During the same period last year, the company earned $2.09 earnings per share. As a group, equities analysts predict that Visa Inc. will post 9.94 earnings per share for the current fiscal year.

Visa Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, June 3rd. Stockholders of record on Friday, May 17th were paid a dividend of $0.52 per share. The ex-dividend date was Thursday, May 16th. This represents a $2.08 annualized dividend and a dividend yield of 0.80%. Visa’s dividend payout ratio is currently 23.24%.

About Visa

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.