Parsons Capital Management Inc. RI Has $15.76 Million Stock Position in Visa Inc. (NYSE:V)

Parsons Capital Management Inc. RI lifted its position in Visa Inc. (NYSE:V - Free Report) by 19.9% in the 4th quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 49,868 shares of the credit-card processor's stock after acquiring an additional 8,277 shares during the quarter. Visa makes up about 0.9% of Parsons Capital Management Inc. RI's holdings, making the stock its 25th biggest holding. Parsons Capital Management Inc. RI's holdings in Visa were worth $15,760,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Quarry LP lifted its holdings in shares of Visa by 310.5% during the 2nd quarter. Quarry LP now owns 468 shares of the credit-card processor's stock valued at $123,000 after buying an additional 354 shares during the last quarter. Advisory Alpha LLC lifted its stake in Visa by 18.0% in the second quarter. Advisory Alpha LLC now owns 4,055 shares of the credit-card processor's stock valued at $1,064,000 after acquiring an additional 620 shares during the last quarter. Granite Bay Wealth Management LLC grew its position in Visa by 90.8% in the second quarter. Granite Bay Wealth Management LLC now owns 3,247 shares of the credit-card processor's stock worth $852,000 after acquiring an additional 1,545 shares in the last quarter. RiverFront Investment Group LLC increased its stake in shares of Visa by 9.8% during the 2nd quarter. RiverFront Investment Group LLC now owns 24,195 shares of the credit-card processor's stock worth $6,351,000 after purchasing an additional 2,168 shares during the last quarter. Finally, Strategic Investment Solutions Inc. IL acquired a new stake in shares of Visa in the 2nd quarter valued at $322,000. Institutional investors and hedge funds own 82.15% of the company's stock.

Insider Activity at Visa

In other Visa news, insider Paul D. Fabara sold 2,171 shares of the business's stock in a transaction dated Friday, November 22nd. The stock was sold at an average price of $307.97, for a total value of $668,602.87. Following the completion of the transaction, the insider now directly owns 17,894 shares of the company's stock, valued at approximately $5,510,815.18. The trade was a 10.82 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Ryan Mcinerney sold 8,620 shares of the firm's stock in a transaction dated Thursday, January 2nd. The stock was sold at an average price of $317.78, for a total value of $2,739,263.60. The disclosure for this sale can be found here. 0.13% of the stock is currently owned by corporate insiders.

Visa Trading Up 2.2 %

V traded up $7.38 during mid-day trading on Thursday, reaching $343.26. The stock had a trading volume of 7,963,976 shares, compared to its average volume of 5,745,500. The stock has a market capitalization of $639.46 billion, a P/E ratio of 35.28, a P/E/G ratio of 2.17 and a beta of 0.96. Visa Inc. has a 52 week low of $252.70 and a 52 week high of $344.44. The company has a debt-to-equity ratio of 0.55, a quick ratio of 1.28 and a current ratio of 1.28. The firm's fifty day simple moving average is $316.43 and its two-hundred day simple moving average is $292.09.

Visa (NYSE:V - Get Free Report) last announced its quarterly earnings data on Thursday, January 30th. The credit-card processor reported $2.75 EPS for the quarter, topping analysts' consensus estimates of $2.66 by $0.09. Visa had a return on equity of 53.16% and a net margin of 54.96%. On average, equities analysts predict that Visa Inc. will post 11.19 EPS for the current year.

Wall Street Analysts Forecast Growth

Several equities analysts have weighed in on V shares. Barclays raised their target price on Visa from $319.00 to $347.00 and gave the company an "overweight" rating in a report on Monday, November 4th. TD Cowen boosted their target price on Visa from $318.00 to $325.00 and gave the stock a "buy" rating in a report on Wednesday, October 30th. BMO Capital Markets increased their price target on Visa from $310.00 to $320.00 and gave the company an "outperform" rating in a report on Wednesday, October 30th. Royal Bank of Canada upped their price objective on shares of Visa from $311.00 to $322.00 and gave the stock an "outperform" rating in a report on Wednesday, October 30th. Finally, Piper Sandler lifted their target price on shares of Visa from $322.00 to $368.00 and gave the stock an "overweight" rating in a report on Friday, January 24th. Four research analysts have rated the stock with a hold rating, twenty-three have assigned a buy rating and two have given a strong buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of "Moderate Buy" and an average target price of $335.52.

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.