Parallel Advisors LLC Has $6.71 Million Stake in Visa Inc (V)
Parallel Advisors LLC lifted its position in Visa Inc (NYSE:V) by 8.6% during the 2nd quarter, HoldingsChannel reports. The institutional investor owned 50,638 shares of the credit-card processor’s stock after acquiring an additional 4,030 shares during the period. Visa comprises about 1.0% of Parallel Advisors LLC’s investment portfolio, making the stock its 18th biggest holding. Parallel Advisors LLC’s holdings in Visa were worth $6,707,000 at the end of the most recent quarter.
Several other hedge funds and other institutional investors have also recently modified their holdings of the company. HC Financial Advisors Inc. purchased a new stake in Visa in the 4th quarter worth about $2,805,000. Close Asset Management Ltd lifted its stake in Visa by 2.1% in the 4th quarter. Close Asset Management Ltd now owns 727,439 shares of the credit-card processor’s stock worth $83,124,000 after acquiring an additional 14,889 shares in the last quarter. James Hambro & Partners purchased a new stake in Visa in the 4th quarter worth about $30,594,000. Harwood Advisory Group LLC lifted its stake in Visa by 40.5% in the 4th quarter. Harwood Advisory Group LLC now owns 3,547 shares of the credit-card processor’s stock worth $403,000 after acquiring an additional 1,023 shares in the last quarter. Finally, Icon Wealth Partners LLC purchased a new stake in Visa in the 4th quarter worth about $586,000. Hedge funds and other institutional investors own 80.27% of the company’s stock.
Shares of V stock opened at $147.63 on Friday. The company has a current ratio of 1.69, a quick ratio of 1.69 and a debt-to-equity ratio of 0.60. Visa Inc has a fifty-two week low of $102.75 and a fifty-two week high of $148.07. The stock has a market capitalization of $295.96 billion, a price-to-earnings ratio of 42.42, a PEG ratio of 1.80 and a beta of 1.09.
The business also recently disclosed a quarterly dividend, which was paid on Tuesday, September 4th. Stockholders of record on Friday, August 17th were issued a dividend of $0.21 per share. This represents a $0.84 dividend on an annualized basis and a dividend yield of 0.57%. The ex-dividend date of this dividend was Thursday, August 16th. Visa’s dividend payout ratio is 24.14%.
Several brokerages recently issued reports on V. Royal Bank of Canada increased their price objective on Visa to $170.00 and gave the stock an “outperform” rating in a research note on Wednesday, September 5th. Wells Fargo & Co increased their price objective on Visa from $155.00 to $161.00 and gave the stock an “outperform” rating in a research note on Thursday, July 26th. Loop Capital increased their price objective on Visa to $157.00 and gave the stock a “buy” rating in a research note on Thursday, July 26th. They noted that the move was a valuation call. KeyCorp increased their price objective on Visa from $145.00 to $160.00 and gave the stock an “overweight” rating in a research note on Thursday, July 26th. Finally, Raymond James reissued an “outperform” rating and issued a $165.00 price objective on shares of Visa in a research note on Tuesday, July 24th. Three equities research analysts have rated the stock with a hold rating and thirty have given a buy rating to the company’s stock. The stock presently has an average rating of “Buy” and a consensus target price of $149.35.
In other news, SVP James H. Hoffmeister sold 6,912 shares of the stock in a transaction dated Monday, August 6th. The stock was sold at an average price of $140.01, for a total transaction of $967,749.12. Following the transaction, the senior vice president now owns 6,912 shares of the company’s stock, valued at approximately $967,749.12. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CFO Vasant M. Prabhu sold 25,064 shares of the stock in a transaction dated Wednesday, August 8th. The shares were sold at an average price of $140.56, for a total value of $3,522,995.84. Following the transaction, the chief financial officer now directly owns 58,232 shares in the company, valued at approximately $8,185,089.92. The disclosure for this sale can be found here. Corporate insiders own 0.14% of the company’s stock.
Visa Company Profile
Visa Inc operates as a payments technology company worldwide. The company facilitates commerce through the transfer of value and information among consumers, merchants, financial institutions, businesses, strategic partners, and government entities. It operates VisaNet, a processing network that enables authorization, clearing, and settlement of payment transactions; and offers fraud protection for account holders and assured payment for merchants.
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