Visa Inc. $V Shares Sold by Legacy Trust

Legacy Trust trimmed its position in Visa Inc. (NYSE:V) by 5.1% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 35,132 shares of the credit-card processor’s stock after selling 1,905 shares during the quarter. Visa comprises approximately 3.1% of Legacy Trust’s holdings, making the stock its 6th largest position. Legacy Trust’s holdings in Visa were worth $12,474,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also modified their holdings of V. Brighton Jones LLC raised its stake in Visa by 50.1% during the 4th quarter. Brighton Jones LLC now owns 20,635 shares of the credit-card processor’s stock valued at $6,522,000 after purchasing an additional 6,883 shares during the last quarter. Revolve Wealth Partners LLC raised its stake in Visa by 68.9% during the 4th quarter. Revolve Wealth Partners LLC now owns 11,811 shares of the credit-card processor’s stock valued at $3,733,000 after purchasing an additional 4,817 shares during the last quarter. Wedge Capital Management L L P NC raised its stake in Visa by 4.7% during the 1st quarter. Wedge Capital Management L L P NC now owns 2,562 shares of the credit-card processor’s stock valued at $898,000 after purchasing an additional 116 shares during the last quarter. GAMMA Investing LLC raised its stake in Visa by 9.9% during the 1st quarter. GAMMA Investing LLC now owns 42,120 shares of the credit-card processor’s stock valued at $14,761,000 after purchasing an additional 3,795 shares during the last quarter. Finally, Ibex Wealth Advisors raised its stake in Visa by 7.8% during the 1st quarter. Ibex Wealth Advisors now owns 45,680 shares of the credit-card processor’s stock valued at $16,009,000 after purchasing an additional 3,307 shares during the last quarter. 82.15% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at Visa

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

Visa Stock Down 0.3%

V opened at $351.31 on Thursday. The firm’s 50-day simple moving average is $343.66 and its 200-day simple moving average is $346.96. 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 twelve month low of $274.42 and a twelve month high of $375.51. The firm has a market cap of $643.88 billion, a price-to-earnings ratio of 34.31, a PEG ratio of 2.09 and a beta of 0.90.

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

Visa Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, September 2nd. Shareholders of record on Tuesday, August 12th were issued a dividend of $0.59 per share. The ex-dividend date of this dividend was Tuesday, August 12th. This represents a $2.36 dividend on an annualized basis and a yield of 0.7%. Visa’s dividend payout ratio is currently 23.05%.

Analyst Upgrades and Downgrades

Several research firms recently commented on V. UBS Group reiterated a “buy” rating and set a $415.00 target price (up from $405.00) on shares of Visa in a research note on Wednesday, July 30th. Oppenheimer increased their price objective on shares of Visa from $390.00 to $391.00 and gave the company an “outperform” rating in a research note on Wednesday, July 2nd. Raymond James Financial restated an “outperform” rating on shares of Visa in a research note on Wednesday, July 30th. Barclays restated an “overweight” rating and issued a $408.00 price objective (up previously from $396.00) on shares of Visa in a research note on Thursday, July 31st. Finally, Robert W. Baird set a $410.00 price objective on shares of Visa and gave the company an “outperform” rating in a research note on Monday. One equities research analyst has rated the stock with a Strong Buy rating, twenty-one have assigned a Buy rating and five have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, Visa has an average rating of “Moderate Buy” and an average price target of $389.00.

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.