Visa Inc. (NYSE:V) Shares Sold by Waters Parkerson & CO. LLC

Waters Parkerson & CO. LLC reduced its stake in Visa Inc. (NYSE:V) by 1.6% during the 2nd quarter, according to the company in its most recent filing with the SEC. The fund owned 316,578 shares of the credit-card processor’s stock after selling 4,990 shares during the quarter. Visa accounts for 4.4% of Waters Parkerson & CO. LLC’s investment portfolio, making the stock its 4th largest position. Waters Parkerson & CO. LLC’s holdings in Visa were worth $83,092,000 as of its most recent filing with the SEC.

A number of other hedge funds have also recently made changes to their positions in V. National Bank of Canada FI boosted its holdings 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 valued at $1,296,820,000 after acquiring an additional 4,099,122 shares during the period. Swedbank AB acquired a new stake in shares of Visa during the first quarter worth about $511,321,000. GQG Partners LLC boosted its stake in shares of Visa by 40.1% in the first quarter. GQG Partners LLC now owns 5,990,634 shares of the credit-card processor’s stock valued at $1,671,866,000 after purchasing an additional 1,715,686 shares during the period. Wulff Hansen & CO. grew its holdings in shares of Visa by 26,951.9% in the second quarter. Wulff Hansen & CO. now owns 1,587,944 shares of the credit-card processor’s stock valued at $416,788,000 after purchasing an additional 1,582,074 shares in the last quarter. Finally, Public Employees Retirement Association of Colorado increased its stake in Visa by 14,306.3% during the 4th quarter. Public Employees Retirement Association of Colorado now owns 1,500,270 shares of the credit-card processor’s stock worth $390,595,000 after buying an additional 1,489,856 shares during the period. Hedge funds and other institutional investors own 82.15% of the company’s stock.

Insiders Place Their Bets

In related news, CEO Ryan Mcinerney sold 8,620 shares of the stock in a transaction dated 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 of the company’s stock, valued at approximately $148,687.06. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. 0.19% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

Several equities research analysts have weighed in on V shares. Piper Sandler cut their price target on Visa from $322.00 to $319.00 and set an “overweight” rating on the stock in a report on Wednesday, July 24th. Macquarie restated an “outperform” rating and set a $300.00 target price on shares of Visa in a research note on Wednesday, July 24th. Evercore ISI decreased their price target on shares of Visa from $335.00 to $330.00 and set an “outperform” rating for the company in a research note on Tuesday, June 25th. The Goldman Sachs Group reissued a “buy” rating and issued a $317.00 price objective on shares of Visa in a research report on Thursday, September 12th. Finally, BNP Paribas raised shares of Visa from a “neutral” rating to an “outperform” rating and set a $325.00 price objective for the company in a research report on Tuesday, September 3rd. Six research analysts have rated the stock with a hold rating, twenty-four have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $310.22.

Visa Stock Performance

NYSE V opened at $285.25 on Friday. The company has a current ratio of 1.37, a quick ratio of 1.37 and a debt-to-equity ratio of 0.54. The business’s 50 day moving average is $270.27 and its two-hundred day moving average is $273.46. The stock has a market capitalization of $519.81 billion, a price-to-earnings ratio of 31.87, a PEG ratio of 2.05 and a beta of 0.96. Visa Inc. has a 12-month low of $227.78 and a 12-month high of $293.07.

Visa (NYSE:V) last issued its earnings results on Tuesday, July 23rd. The credit-card processor reported $2.42 EPS for the quarter, hitting the consensus estimate of $2.42. The company had revenue of $8.90 billion for the quarter, compared to analyst estimates of $8.92 billion. Visa had a net margin of 54.72% and a return on equity of 51.94%. The business’s revenue was up 9.6% on a year-over-year basis. During the same period in the previous year, the firm earned $2.16 EPS. Research analysts expect that Visa Inc. will post 9.92 EPS for the current year.

Visa Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, September 3rd. Investors of record on Friday, August 9th were issued a dividend of $0.52 per share. The ex-dividend date of this dividend was Friday, August 9th. This represents a $2.08 annualized dividend and a yield of 0.73%. Visa’s dividend payout ratio is presently 23.24%.

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.