Visa Inc. $V Shares Sold by Legacy Wealth Management LLC MS

Legacy Wealth Management LLC MS lessened its stake in shares of Visa Inc. (NYSE:V) by 12.2% in the second quarter, HoldingsChannel.com reports. The institutional investor owned 20,535 shares of the credit-card processor’s stock after selling 2,842 shares during the quarter. Visa comprises about 2.2% of Legacy Wealth Management LLC MS’s investment portfolio, making the stock its 9th biggest position. Legacy Wealth Management LLC MS’s holdings in Visa were worth $7,291,000 at the end of the most recent quarter.

A number of other hedge funds also recently modified their holdings of V. GAMMA Investing LLC lifted 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 worth $5,173,271,000 after buying an additional 14,723,050 shares during the last quarter. Nuveen LLC acquired a new stake in shares of Visa during the 1st quarter worth about $3,518,533,000. Universal Beteiligungs und Servicegesellschaft mbH acquired a new stake in shares of Visa during the 4th quarter worth about $673,689,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted 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 worth $4,210,207,000 after buying an additional 1,723,785 shares during the last quarter. Finally, Vanguard Group Inc. lifted 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 worth $56,452,949,000 after buying an additional 1,677,088 shares during the last quarter. Institutional investors and hedge funds own 82.15% of the company’s stock.

Insider Activity

In other Visa news, CEO Ryan Mcinerney sold 8,630 shares of the firm’s stock in a transaction dated Tuesday, July 1st. The shares were sold at an average price of $353.82, for a total value 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 trade represents a 94.14% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, General Counsel Julie B. Rottenberg sold 2,027 shares of the firm’s stock in a transaction dated Monday, August 18th. The shares were sold at an average price of $344.02, for a total transaction of $697,328.54. Following the completion of the transaction, 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 ownership of the stock. The disclosure for this sale can be found here. 0.13% of the stock is owned by company insiders.

Visa Price Performance

V stock opened at $339.33 on Friday. The company has a quick ratio of 1.12, a current ratio of 1.12 and a debt-to-equity ratio of 0.52. Visa Inc. has a 12 month low of $268.23 and a 12 month high of $375.51. The firm has a market cap of $621.92 billion, a P/E ratio of 33.14, a P/E/G ratio of 2.29 and a beta of 0.92. The company’s 50-day moving average price is $347.03 and its two-hundred day moving average price is $346.94.

Visa (NYSE:V) last released its earnings results on Tuesday, July 29th. The credit-card processor reported $2.98 EPS 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 firm had revenue of $10.17 billion for the quarter, compared to analyst estimates of $9.82 billion. During the same period last year, the firm earned $2.42 EPS. The business’s quarterly revenue was up 14.3% compared to the same quarter last year. On average, analysts anticipate that Visa Inc. will post 11.3 earnings per share for the current fiscal year.

Visa Dividend Announcement

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

Analysts Set New Price Targets

A number of analysts have recently issued reports on V shares. Macquarie raised their target price on shares of Visa from $380.00 to $425.00 and gave the stock an “outperform” rating in a research note on Thursday, July 31st. UBS Group reaffirmed a “buy” rating and set a $415.00 price target (up from $405.00) on shares of Visa in a research report on Wednesday, July 30th. Mizuho raised shares of Visa from a “neutral” rating to an “outperform” rating and raised their price target for the stock from $359.00 to $425.00 in a research report on Thursday, June 5th. The Goldman Sachs Group assumed coverage on shares of Visa in a research report on Monday, June 2nd. They set a “neutral” rating on the stock. Finally, Barclays reaffirmed an “overweight” rating and set a $408.00 price target (up from $396.00) on shares of Visa in a research report on Thursday, July 31st. One equities research analyst has rated the stock with a Strong Buy rating, twenty have assigned a Buy rating and five have given a Hold rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $385.96.

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.