Legacy Capital Wealth Partners LLC Grows Position in Visa Inc. (NYSE:V)

Legacy Capital Wealth Partners LLC increased its stake in shares of Visa Inc. (NYSE:V) by 1.9% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 5,482 shares of the credit-card processor’s stock after acquiring an additional 100 shares during the quarter. Legacy Capital Wealth Partners LLC’s holdings in Visa were worth $1,427,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds have also bought and sold shares of the company. Investment Advisory Services Inc. TX ADV grew its position in shares of Visa by 2.0% in the 3rd quarter. Investment Advisory Services Inc. TX ADV now owns 3,930 shares of the credit-card processor’s stock worth $904,000 after buying an additional 78 shares during the last quarter. Nadler Financial Group Inc. grew its position in shares of Visa by 2.4% in the 4th quarter. Nadler Financial Group Inc. now owns 1,900 shares of the credit-card processor’s stock worth $495,000 after buying an additional 44 shares during the last quarter. Towerpoint Wealth LLC bought a new stake in shares of Visa in the 4th quarter worth approximately $216,000. Andrew Hill Investment Advisors Inc. bought a new stake in shares of Visa in the 4th quarter worth approximately $3,427,000. Finally, Wayfinding Financial LLC lifted its stake in shares of Visa by 10.1% in the 3rd quarter. Wayfinding Financial LLC now owns 1,757 shares of the credit-card processor’s stock valued at $406,000 after purchasing an additional 161 shares during the period. 82.15% of the stock is currently owned by institutional investors.

Visa Trading Down 0.2 %

V stock traded down $0.64 during midday trading on Friday, reaching $274.52. 6,840,615 shares of the company traded hands, compared to its average volume of 6,528,673. Visa Inc. has a 52-week low of $216.14 and a 52-week high of $290.96. The company has a debt-to-equity ratio of 0.53, a quick ratio of 1.45 and a current ratio of 1.40. The business has a 50 day moving average of $279.24 and a 200-day moving average of $264.52. The firm has a market capitalization of $504.16 billion, a price-to-earnings ratio of 30.67, a P/E/G ratio of 1.89 and a beta of 0.96.

Visa (NYSE:V) last issued its quarterly earnings data on Tuesday, April 23rd. The credit-card processor reported $2.51 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.43 by $0.08. Visa had a return on equity of 51.23% and a net margin of 53.87%. The business had revenue of $8.78 billion for the quarter, compared to the consensus estimate of $8.62 billion. During the same period in the prior year, the business posted $2.09 earnings per share. The company’s quarterly revenue was up 9.9% compared to the same quarter last year. As a group, sell-side analysts expect that Visa Inc. will post 9.89 earnings per share for the current fiscal year.

Visa Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, June 3rd. Stockholders of record on Friday, May 17th will be paid a dividend of $0.52 per share. The ex-dividend date of this dividend is Thursday, May 16th. This represents a $2.08 dividend on an annualized basis and a dividend yield of 0.76%. Visa’s dividend payout ratio is 23.24%.

Analyst Upgrades and Downgrades

A number of research analysts have recently commented on the company. Raymond James raised their target price on Visa from $287.00 to $311.00 and gave the company an “outperform” rating in a research note on Friday, January 26th. Wells Fargo & Company lifted their price objective on Visa from $300.00 to $325.00 and gave the company an “overweight” rating in a research note on Wednesday, March 6th. Macquarie lifted their price objective on Visa from $290.00 to $300.00 and gave the company an “outperform” rating in a research note on Wednesday. Oppenheimer lifted their price objective on Visa from $297.00 to $299.00 and gave the company an “outperform” rating in a research note on Wednesday. Finally, Citigroup lifted their price objective on Visa from $314.00 to $321.00 and gave the company a “buy” rating in a research note on Wednesday. Five equities research analysts have rated the stock with a hold rating and twenty have assigned a buy rating to the stock. Based on data from MarketBeat.com, Visa has an average rating of “Moderate Buy” and an average price target of $302.58.

Insider Activity

In related news, CEO Ryan Mcinerney sold 8,200 shares of the stock in a transaction that occurred on Monday, April 1st. The stock was sold at an average price of $280.36, for a total value of $2,298,952.00. Following the transaction, the chief executive officer now owns 538 shares of the company’s stock, valued at $150,833.68. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In related news, CEO Ryan Mcinerney sold 8,200 shares of the stock in a transaction that occurred on Monday, April 1st. The stock was sold at an average price of $280.36, for a total value of $2,298,952.00. Following the transaction, the chief executive officer now owns 538 shares of the company’s stock, valued at $150,833.68. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, Director Lloyd Carney sold 909 shares of the stock in a transaction that occurred on Friday, April 26th. The stock was sold at an average price of $275.55, for a total value of $250,474.95. Following the completion of the transaction, the director now directly owns 2,591 shares in the company, valued at approximately $713,950.05. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 19,874 shares of company stock valued at $5,506,827. 0.19% of the stock is currently owned by insiders.

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.