Visa Inc. (NYSE:V) Shares Sold by Legacy Wealth Asset Management LLC

Legacy Wealth Asset Management LLC reduced its holdings in Visa Inc. (NYSE:V) by 1.7% during the 4th quarter, Holdings Channel reports. The fund owned 6,738 shares of the credit-card processor’s stock after selling 119 shares during the period. Legacy Wealth Asset Management LLC’s holdings in Visa were worth $2,129,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Unionview LLC boosted its position in Visa by 1.5% during the third quarter. Unionview LLC now owns 2,296 shares of the credit-card processor’s stock worth $631,000 after purchasing an additional 33 shares in the last quarter. Forza Wealth Management LLC grew its stake in Visa by 2.9% in the 4th quarter. Forza Wealth Management LLC now owns 1,164 shares of the credit-card processor’s stock valued at $368,000 after acquiring an additional 33 shares during the last quarter. Presilium Private Wealth LLC increased its holdings in Visa by 2.2% during the 4th quarter. Presilium Private Wealth LLC now owns 1,503 shares of the credit-card processor’s stock valued at $475,000 after acquiring an additional 33 shares in the last quarter. St. Louis Trust Co raised its position in Visa by 0.9% during the third quarter. St. Louis Trust Co now owns 3,885 shares of the credit-card processor’s stock worth $1,068,000 after acquiring an additional 34 shares during the last quarter. Finally, FWG Holdings LLC lifted its holdings in shares of Visa by 1.1% in the third quarter. FWG Holdings LLC now owns 3,168 shares of the credit-card processor’s stock valued at $900,000 after purchasing an additional 34 shares in the last quarter. Institutional investors and hedge funds own 82.15% of the company’s stock.

Insider Buying and Selling

In other news, insider Paul D. Fabara sold 2,171 shares of the business’s stock in a transaction that occurred on 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 sale, the insider now directly owns 17,894 shares in the company, valued at approximately $5,510,815.18. The trade was a 10.82 % 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, CEO Ryan Mcinerney sold 8,620 shares of the company’s stock in a transaction that occurred on Thursday, January 2nd. The shares were 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. Insiders own 0.13% of the company’s stock.

Visa Trading Up 0.9 %

Shares of V opened at $319.97 on Friday. The company has a debt-to-equity ratio of 0.55, a current ratio of 1.28 and a quick ratio of 1.28. Visa Inc. has a 12 month low of $252.70 and a 12 month high of $321.61. The stock has a market cap of $596.06 billion, a PE ratio of 32.88, a P/E/G ratio of 2.06 and a beta of 0.96. The stock’s 50-day moving average is $313.16 and its two-hundred day moving average is $288.06.

Visa (NYSE:V) last announced its earnings results on Tuesday, October 29th. The credit-card processor reported $2.71 earnings per share for the quarter, beating the consensus estimate of $2.58 by $0.13. Visa had a net margin of 54.96% and a return on equity of 53.16%. The business had revenue of $9.62 billion during the quarter, compared to the consensus estimate of $9.49 billion. During the same period in the prior year, the firm earned $2.33 earnings per share. The business’s quarterly revenue was up 11.7% compared to the same quarter last year. Equities analysts forecast that Visa Inc. will post 11.22 earnings per share for the current fiscal year.

Visa Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, December 2nd. Stockholders of record on Tuesday, November 12th were given a dividend of $0.59 per share. The ex-dividend date of this dividend was Tuesday, November 12th. This represents a $2.36 dividend on an annualized basis and a dividend yield of 0.74%. This is an increase from Visa’s previous quarterly dividend of $0.52. Visa’s dividend payout ratio (DPR) is presently 24.25%.

Analyst Upgrades and Downgrades

Several research analysts recently issued reports on V shares. Robert W. Baird lifted their price objective on Visa from $330.00 to $340.00 and gave the stock an “outperform” rating in a research report on Wednesday, October 30th. Citigroup boosted their price target on Visa from $326.00 to $354.00 and gave the stock a “buy” rating in a report on Tuesday. Monness Crespi & Hardt reaffirmed a “neutral” rating on shares of Visa in a research note on Tuesday, September 24th. Mizuho boosted their target price on shares of Visa from $279.00 to $292.00 and gave the company a “neutral” rating in a research note on Friday, November 1st. Finally, Keefe, Bruyette & Woods raised their price target on shares of Visa from $335.00 to $360.00 and gave the stock an “outperform” rating in a research note on Monday, December 9th. Four research analysts have rated the stock with a hold rating, twenty-four have issued a buy rating and two have issued a strong buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $331.92.

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.