Franklin Parlapiano Turner & Welch LLC Sells 98 Shares of Visa Inc. (NYSE:V)

Franklin Parlapiano Turner & Welch LLC reduced its stake in Visa Inc. (NYSE:V) by 0.3% during the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 32,494 shares of the credit-card processor’s stock after selling 98 shares during the period. Visa accounts for approximately 2.3% of Franklin Parlapiano Turner & Welch LLC’s holdings, making the stock its 12th largest holding. Franklin Parlapiano Turner & Welch LLC’s holdings in Visa were worth $8,934,000 as of its most recent SEC filing.

A number of other institutional investors have also made changes to their positions in the stock. Towerpoint Wealth LLC grew its holdings in shares of Visa by 36.6% in the 1st quarter. Towerpoint Wealth LLC now owns 1,135 shares of the credit-card processor’s stock valued at $317,000 after buying an additional 304 shares during the period. Investment Partners LTD. grew its stake in Visa by 1.1% in the first quarter. Investment Partners LTD. now owns 5,377 shares of the credit-card processor’s stock valued at $1,501,000 after acquiring an additional 60 shares during the period. Sunburst Financial Group LLC increased its holdings in shares of Visa by 1.9% in the first quarter. Sunburst Financial Group LLC now owns 2,241 shares of the credit-card processor’s stock worth $624,000 after acquiring an additional 41 shares in the last quarter. Stokes Capital Advisors LLC raised its holdings in Visa by 0.4% during the 1st quarter. Stokes Capital Advisors LLC now owns 32,491 shares of the credit-card processor’s stock worth $9,068,000 after buying an additional 130 shares during the period. Finally, 180 Wealth Advisors LLC lifted its stake in Visa by 4.0% in the first quarter. 180 Wealth Advisors LLC now owns 10,908 shares of the credit-card processor’s stock valued at $3,044,000 after buying an additional 423 shares in the last quarter. 82.15% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of equities analysts have issued reports on the company. Royal Bank of Canada lowered their target price on Visa from $315.00 to $311.00 and set an “outperform” rating for the company in a report on Wednesday, July 24th. TD Cowen lowered their price target on shares of Visa from $320.00 to $318.00 and set a “buy” rating on the stock in a research note on Wednesday, July 24th. BNP Paribas upgraded shares of Visa from a “neutral” rating to an “outperform” rating and set a $325.00 price objective for the company in a research note on Tuesday, September 3rd. Piper Sandler lowered their target price on Visa from $322.00 to $319.00 and set an “overweight” rating on the stock in a research report on Wednesday, July 24th. Finally, Bank of America increased their price target on Visa from $279.00 to $308.00 and gave the company a “neutral” rating in a research report on Tuesday, September 17th. Four investment analysts have rated the stock with a hold rating, twenty-three have given a buy rating and two have assigned a strong buy rating to the company. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $314.19.

Visa Stock Performance

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

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

Insiders Place Their Bets

In related news, CEO Ryan Mcinerney sold 8,620 shares of the stock in a transaction that occurred on Tuesday, September 3rd. The stock was sold at an average price of $276.37, for a total transaction of $2,382,309.40. Following the sale, the chief executive officer now owns 538 shares of the company’s stock, valued at $148,687.06. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Company insiders own 0.19% of the company’s stock.

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.