Visa Inc. $V Shares Purchased by Legacy Financial Advisors Inc.

by · The Cerbat Gem

Legacy Financial Advisors Inc. increased its position in Visa Inc. (NYSE:V – Free Report) by 0.8% in the first quarter, according to its most recent 13F filing with the SEC. The firm owned 13,585 shares of the credit-card processor’s stock after purchasing an additional 109 shares during the period. Visa comprises about 0.8% of Legacy Financial Advisors Inc.’s investment portfolio, making the stock its 19th biggest holding. Legacy Financial Advisors Inc.’s holdings in Visa were worth $4,761,000 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. Vanguard Group Inc. boosted its stake in shares of Visa by 1.1% during the 1st quarter. Vanguard Group Inc. now owns 161,082,431 shares of the credit-card processor’s stock valued at $56,452,949,000 after buying an additional 1,677,088 shares during the period. Northern Trust Corp boosted its stake in shares of Visa by 4.0% during the 1st quarter. Northern Trust Corp now owns 18,987,013 shares of the credit-card processor’s stock valued at $6,654,189,000 after buying an additional 726,299 shares during the period. GAMMA Investing LLC boosted its stake in shares of Visa by 38,416.3% during the 1st quarter. GAMMA Investing LLC now owns 14,761,375 shares of the credit-card processor’s stock valued at $5,173,271,000 after buying an additional 14,723,050 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its stake in shares of Visa by 14.9% during the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 13,321,754 shares of the credit-card processor’s stock valued at $4,210,207,000 after buying an additional 1,723,785 shares during the period. Finally, Ameriprise Financial Inc. boosted its stake in shares of Visa by 1.3% during the 4th quarter. Ameriprise Financial Inc. now owns 12,796,415 shares of the credit-card processor’s stock valued at $4,045,149,000 after buying an additional 164,008 shares during the period. Institutional investors and hedge funds own 82.15% of the company’s stock.

Analysts Set New Price Targets

V has been the subject of a number of research reports. Piper Sandler lifted their target price on shares of Visa from $383.00 to $384.00 and gave the company an “overweight” rating in a research note on Wednesday, April 30th. Jefferies Financial Group lifted their target price on shares of Visa from $400.00 to $410.00 and gave the company a “buy” rating in a research note on Tuesday, May 27th. BMO Capital Markets lifted their target price on shares of Visa from $370.00 to $380.00 and gave the company an “outperform” rating in a research note on Wednesday, April 30th. UBS Group reaffirmed a “buy” rating and issued a $415.00 price objective (up previously from $405.00) on shares of Visa in a research note on Wednesday, July 30th. Finally, Citigroup assumed coverage on shares of Visa in a research note on Monday, June 2nd. They issued a “buy” rating for the company. Five equities research analysts have rated the stock with a hold rating, twenty-three have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $380.84.

Get Our Latest Report on V

Insider Activity

In other news, CEO Ryan Mcinerney sold 8,630 shares of Visa stock in a transaction dated Tuesday, July 1st. The shares were sold at an average price of $353.82, for a total transaction of $3,053,466.60. Following the sale, the chief executive officer directly owned 537 shares in the company, valued at approximately $190,001.34. The trade was a 94.14% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Paul D. Fabara sold 11,636 shares of Visa stock in a transaction dated Wednesday, June 11th. The shares were sold at an average price of $375.00, for a total transaction of $4,363,500.00. Following the sale, the insider owned 26,413 shares in the company, valued at approximately $9,904,875. This trade represents a 30.58% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 75,100 shares of company stock worth $27,643,224. 0.13% of the stock is owned by company insiders.

Visa Stock Performance

NYSE:V opened at $342.81 on Tuesday. The firm’s 50-day moving average is $349.69 and its 200-day moving average is $347.45. Visa Inc. has a 52-week low of $265.23 and a 52-week high of $375.51. The company has a debt-to-equity ratio of 0.52, a quick ratio of 1.12 and a current ratio of 1.12. The company has a market cap of $628.30 billion, a price-to-earnings ratio of 33.48, a PEG ratio of 2.29 and a beta of 0.94.

Visa (NYSE:V – Get Free Report) last issued its 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 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 period in the previous year, the business earned $2.42 EPS. The firm’s revenue was up 14.3% on a year-over-year basis. Equities research analysts anticipate that Visa Inc. will post 11.3 earnings per share for the current year.

Visa Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, September 2nd. Stockholders of record on Tuesday, August 12th will be given a dividend of $0.59 per share. This represents a $2.36 annualized dividend and a dividend yield of 0.7%. The ex-dividend date is Tuesday, August 12th. Visa’s payout ratio is 23.05%.

About Visa

(Free Report)

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.

See Also

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