Legacy Financial Group Inc. Raises Stock Position in Visa Inc. (NYSE:V)

Legacy Financial Group Inc. increased its stake in Visa Inc. (NYSE:V) by 97.1% in the 1st quarter, HoldingsChannel reports. The fund owned 2,083 shares of the credit-card processor’s stock after acquiring an additional 1,026 shares during the period. Legacy Financial Group Inc.’s holdings in Visa were worth $694,000 at the end of the most recent quarter.

Several other large investors also recently added to or reduced their stakes in V. Sovereign Investment Advisors LLC purchased a new stake in Visa in the 4th quarter worth about $424,000. Brighton Jones LLC grew its stake in shares of Visa by 50.1% during the fourth quarter. Brighton Jones LLC now owns 20,635 shares of the credit-card processor’s stock valued at $6,522,000 after buying an additional 6,883 shares during the last quarter. Revolve Wealth Partners LLC raised its holdings in shares of Visa by 68.9% in the fourth quarter. Revolve Wealth Partners LLC now owns 11,811 shares of the credit-card processor’s stock worth $3,733,000 after buying an additional 4,817 shares during the period. Highview Capital Management LLC DE lifted its stake in shares of Visa by 3.1% during the 4th quarter. Highview Capital Management LLC DE now owns 19,997 shares of the credit-card processor’s stock worth $6,320,000 after acquiring an additional 604 shares during the last quarter. Finally, Proficio Capital Partners LLC boosted its holdings in Visa by 13.8% during the 4th quarter. Proficio Capital Partners LLC now owns 26,260 shares of the credit-card processor’s stock valued at $8,299,000 after acquiring an additional 3,191 shares during the period. 82.15% of the stock is owned by institutional investors.

Insider Activity at Visa

In other Visa news, General Counsel Julie B. Rottenberg sold 2,575 shares of the firm’s stock in a transaction that occurred on Thursday, May 1st. The shares were sold at an average price of $345.58, for a total transaction of $889,868.50. Following the completion of the transaction, the general counsel directly owned 11,925 shares of the company’s stock, valued at approximately $4,121,041.50. This trade represents a 17.76% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, CEO Ryan Mcinerney sold 8,630 shares of the firm’s stock in a transaction that occurred on Tuesday, July 1st. The stock was sold at an average price of $353.82, for a total transaction of $3,053,466.60. Following the transaction, the chief executive officer directly owned 537 shares of the company’s stock, valued at $190,001.34. This represents a 94.14% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 101,108 shares of company stock worth $36,771,200 over the last quarter. Insiders own 0.13% of the company’s stock.

Visa Price Performance

Shares of V stock opened at $347.71 on Monday. Visa Inc. has a fifty-two week low of $252.70 and a fifty-two week high of $375.51. The company has a debt-to-equity ratio of 0.45, a quick ratio of 1.08 and a current ratio of 1.08. The firm has a market capitalization of $641.58 billion, a price-to-earnings ratio of 34.95, a PEG ratio of 2.36 and a beta of 0.92. The stock’s 50-day simple moving average is $356.93 and its 200-day simple moving average is $342.86.

Visa (NYSE:V) last issued its quarterly earnings results on Tuesday, April 29th. The credit-card processor reported $2.76 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.68 by $0.08. Visa had a net margin of 52.86% and a return on equity of 56.28%. The business had revenue of $9.59 billion for the quarter, compared to analyst estimates of $9.57 billion. During the same quarter in the prior year, the business posted $2.51 EPS. Visa’s revenue for the quarter was up 9.3% compared to the same quarter last year. As a group, equities analysts forecast that Visa Inc. will post 11.3 earnings per share for the current fiscal year.

Visa Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, June 2nd. Stockholders of record on Tuesday, May 13th were paid a $0.59 dividend. This represents a $2.36 annualized dividend and a dividend yield of 0.68%. The ex-dividend date of this dividend was Tuesday, May 13th. Visa’s payout ratio is 23.72%.

Analyst Ratings Changes

V has been the topic of several research analyst reports. Mizuho raised Visa from a “neutral” rating to an “outperform” rating and upped their price objective for the company from $359.00 to $425.00 in a research report on Thursday, June 5th. Evercore ISI initiated coverage on shares of Visa in a report on Wednesday, April 9th. They issued an “in-line” rating and a $330.00 price target on the stock. UBS Group raised their price target on shares of Visa from $395.00 to $405.00 and gave the stock a “buy” rating in a research note on Wednesday, May 28th. Truist Financial initiated coverage on shares of Visa in a research report on Monday, June 2nd. They issued a “buy” rating and a $400.00 price objective for the company. Finally, The Goldman Sachs Group initiated coverage on shares of Visa in a research note on Monday, June 2nd. They issued a “neutral” rating on the stock. Five analysts have rated the stock with a hold rating, twenty-three have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, Visa presently has an average rating of “Moderate Buy” and an average price target of $372.84.

About Visa

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.