Franklin Parlapiano Turner & Welch LLC Has $8.93 Million Stock Position in Visa Inc. (NYSE:V)

Franklin Parlapiano Turner & Welch LLC lessened its holdings in Visa Inc. (NYSE:V) by 0.3% during the third quarter, HoldingsChannel reports. The firm owned 32,494 shares of the credit-card processor’s stock after selling 98 shares during the quarter. Visa accounts for 2.3% of Franklin Parlapiano Turner & Welch LLC’s holdings, making the stock its 12th largest position. Franklin Parlapiano Turner & Welch LLC’s holdings in Visa were worth $8,934,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently modified their holdings of the business. International Assets Investment Management LLC boosted its position in Visa by 45,189.4% in the third quarter. International Assets Investment Management LLC now owns 9,758,505 shares of the credit-card processor’s stock valued at $2,683,101,000 after buying an additional 9,736,958 shares in the last quarter. SG Americas Securities LLC raised its stake in shares of Visa by 4,412.3% during the third quarter. SG Americas Securities LLC now owns 4,072,467 shares of the credit-card processor’s stock valued at $1,119,725,000 after acquiring an additional 4,166,905 shares during the last quarter. National Bank of Canada FI raised its position in Visa by 787.1% during the 1st quarter. National Bank of Canada FI now owns 4,619,881 shares of the credit-card processor’s stock worth $1,296,820,000 after purchasing an additional 4,099,122 shares during the last quarter. Swedbank AB bought a new position in shares of Visa during the first quarter worth about $511,321,000. Finally, GQG Partners LLC lifted its position in shares of Visa by 40.1% in the 1st quarter. GQG Partners LLC now owns 5,990,634 shares of the credit-card processor’s stock worth $1,671,866,000 after purchasing an additional 1,715,686 shares during the period. Institutional investors own 82.15% of the company’s stock.

Analyst Ratings Changes

V has been the topic of several research analyst reports. BNP Paribas upgraded Visa from a “neutral” rating to an “outperform” rating and set a $325.00 target price on the stock in a research report on Tuesday, September 3rd. Compass Point assumed coverage on shares of Visa in a report on Wednesday, September 4th. They set a “buy” rating and a $319.00 price objective for the company. Piper Sandler decreased their price target on Visa from $322.00 to $319.00 and set an “overweight” rating for the company in a report on Wednesday, July 24th. Oppenheimer started coverage on shares of Visa in a research report on Tuesday, October 1st. They set an “outperform” rating and a $318.00 price target on the stock. Finally, StockNews.com raised shares of Visa from a “hold” rating to a “buy” rating in a research report on Friday, August 9th. Four research analysts have rated the stock with a hold rating, twenty-three have given a buy rating and two have issued a strong buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $314.19.

Visa Trading Down 0.2 %

Shares of V stock opened at $283.22 on Friday. The company’s fifty day simple moving average is $278.40 and its two-hundred day simple moving average is $273.10. The stock has a market capitalization of $517.99 billion, a price-to-earnings ratio of 31.64, a PEG ratio of 1.96 and a beta of 0.96. The company has a debt-to-equity ratio of 0.54, a current ratio of 1.37 and a quick ratio of 1.37. Visa Inc. has a 1 year low of $228.03 and a 1 year high of $293.07.

Visa (NYSE:V) last announced its quarterly earnings results on Tuesday, July 23rd. The credit-card processor reported $2.42 earnings per share for the quarter, meeting the consensus estimate of $2.42. Visa had a return on equity of 51.94% and a net margin of 54.72%. The firm had revenue of $8.90 billion for the quarter, compared to analysts’ expectations of $8.92 billion. During the same period in the prior year, the business posted $2.16 earnings per share. The company’s revenue was up 9.6% on a year-over-year basis. As a group, analysts anticipate that Visa Inc. will post 9.92 earnings per share for the current year.

Insider Activity at Visa

In other Visa news, CEO Ryan Mcinerney sold 8,620 shares of the stock in a transaction that occurred on Tuesday, September 3rd. The shares were sold at an average price of $276.37, for a total value of $2,382,309.40. Following the sale, the chief executive officer now directly owns 538 shares in the company, valued at $148,687.06. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. 0.19% of the stock is owned by corporate insiders.

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.