Parthenon LLC Has $590,000 Holdings in Visa Inc. $V

Parthenon LLC increased its stake in Visa Inc. (NYSE:V) by 2.8% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 1,663 shares of the credit-card processor’s stock after buying an additional 46 shares during the quarter. Parthenon LLC’s holdings in Visa were worth $590,000 as of its most recent SEC filing.

Several other hedge funds have also added to or reduced their stakes in the business. Keystone Global Partners LLC bought a new position in Visa during the 1st quarter worth $26,000. Family Legacy Financial Solutions LLC bought a new position in shares of Visa in the second quarter worth $28,000. von Borstel & Associates Inc. bought a new position in shares of Visa in the first quarter worth $27,000. Harbor Asset Planning Inc. bought a new position in Visa in the second quarter valued at about $29,000. Finally, Cranbrook Wealth Management LLC grew its position in Visa by 82.0% in the second quarter. Cranbrook Wealth Management LLC now owns 91 shares of the credit-card processor’s stock valued at $32,000 after acquiring an additional 41 shares during the last quarter. Institutional investors and hedge funds own 82.15% of the company’s stock.

Insider Buying and Selling

In other Visa news, General Counsel Julie B. Rottenberg sold 2,027 shares of Visa stock in a transaction on Monday, August 18th. The stock was sold at an average price of $344.02, for a total transaction of $697,328.54. Following the completion of the transaction, the general counsel owned 11,925 shares in the company, valued at approximately $4,102,438.50. The trade was a 14.53% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Ryan Mcinerney sold 10,485 shares of Visa stock in a transaction on Wednesday, October 1st. The stock was sold at an average price of $342.30, for a total value of $3,589,015.50. Following the completion of the sale, the chief executive officer directly owned 537 shares of the company’s stock, valued at $183,815.10. The trade was a 95.13% decrease in their position. The disclosure for this sale can be found here. 0.13% of the stock is currently owned by company insiders.

Visa Stock Performance

Shares of V opened at $347.17 on Wednesday. The stock’s 50-day simple moving average is $344.68 and its 200 day simple moving average is $347.11. The stock has a market capitalization of $636.29 billion, a price-to-earnings ratio of 33.90, a price-to-earnings-growth ratio of 2.04 and a beta of 0.90. The company has a debt-to-equity ratio of 0.52, a quick ratio of 1.12 and a current ratio of 1.12. Visa Inc. has a 52-week low of $280.78 and a 52-week high of $375.51.

Visa (NYSE:V) last released its quarterly earnings results on Tuesday, July 29th. The credit-card processor reported $2.98 earnings per share for the quarter, beating the consensus estimate of $2.85 by $0.13. Visa had a return on equity of 58.93% and a net margin of 52.16%.The firm had revenue of $10.17 billion for the quarter, compared to analysts’ expectations of $9.82 billion. During the same quarter last year, the firm posted $2.42 EPS. The company’s revenue was up 14.3% compared to the same quarter last year. Research analysts forecast that Visa Inc. will post 11.3 EPS for the current fiscal year.

Visa Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, September 2nd. Stockholders of record on Tuesday, August 12th were given a $0.59 dividend. This represents a $2.36 dividend on an annualized basis and a dividend yield of 0.7%. The ex-dividend date was Tuesday, August 12th. Visa’s dividend payout ratio (DPR) is currently 23.05%.

Analysts Set New Price Targets

Several research firms have recently weighed in on V. Truist Financial reduced their price target on Visa from $400.00 to $397.00 and set a “buy” rating on the stock in a report on Thursday, July 17th. Barclays reissued an “overweight” rating and issued a $408.00 price target (up from $396.00) on shares of Visa in a research note on Thursday, July 31st. Morgan Stanley upped their target price on Visa from $386.00 to $402.00 and gave the stock an “overweight” rating in a research report on Wednesday, July 30th. Wells Fargo & Company set a $412.00 target price on Visa and gave the stock an “overweight” rating in a research report on Tuesday. Finally, Raymond James Financial reiterated an “outperform” rating on shares of Visa in a report on Wednesday, July 30th. One research analyst has rated the stock with a Strong Buy rating, twenty-one have issued a Buy rating and five have assigned a Hold rating to the stock. Based on data from MarketBeat.com, Visa currently has an average rating of “Moderate Buy” and an average target price of $389.74.

Visa Company 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.