Legacy Advisors LLC Reduces Stake in Visa Inc. (NYSE:V)

Legacy Advisors LLC lowered its stake in Visa Inc. (NYSE:V - Free Report) by 6.2% in the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 13,137 shares of the credit-card processor's stock after selling 867 shares during the quarter. Legacy Advisors LLC's holdings in Visa were worth $4,604,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds have also added to or reduced their stakes in the company. Sovereign Investment Advisors LLC bought a new stake in Visa during the fourth quarter valued at $424,000. Brighton Jones LLC boosted its position in shares of Visa by 50.1% during the 4th quarter. Brighton Jones LLC now owns 20,635 shares of the credit-card processor's stock valued at $6,522,000 after acquiring an additional 6,883 shares during the last quarter. Union Bancaire Privee UBP SA purchased a new position in shares of Visa during the fourth quarter worth about $202,074,000. Revolve Wealth Partners LLC grew its holdings in shares of Visa by 68.9% during the fourth quarter. Revolve Wealth Partners LLC now owns 11,811 shares of the credit-card processor's stock worth $3,733,000 after purchasing an additional 4,817 shares in the last quarter. Finally, Leverage Partners Absolute Return Fund SPC bought a new position in shares of Visa in the fourth quarter worth approximately $204,000. Hedge funds and other institutional investors own 82.15% of the company's stock.

Visa Stock Performance

Shares of NYSE:V opened at $351.65 on Wednesday. The company has a current ratio of 1.08, a quick ratio of 1.08 and a debt-to-equity ratio of 0.45. The company has a 50-day moving average price of $352.27 and a 200-day moving average price of $339.26. The company has a market cap of $648.84 billion, a price-to-earnings ratio of 35.34, a price-to-earnings-growth ratio of 2.31 and a beta of 0.94. Visa Inc. has a 12 month low of $252.70 and a 12 month high of $375.51.

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

Visa Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, June 2nd. Investors of record on Tuesday, May 13th were issued a dividend of $0.59 per share. The ex-dividend date of this dividend was Tuesday, May 13th. This represents a $2.36 dividend on an annualized basis and a dividend yield of 0.67%. Visa's dividend payout ratio is presently 23.72%.

Analyst Upgrades and Downgrades

A number of research firms have commented on V. Citigroup assumed coverage on shares of Visa in a research note on Monday, June 2nd. They issued a "buy" rating for the company. Mizuho upgraded shares of Visa from a "neutral" rating to an "outperform" rating and upped their target price for the stock from $359.00 to $425.00 in a research report on Thursday, June 5th. The Goldman Sachs Group initiated coverage on Visa in a research note on Monday, June 2nd. They issued a "neutral" rating on the stock. Jefferies Financial Group lifted their price target on Visa from $400.00 to $410.00 and gave the stock a "buy" rating in a research note on Tuesday, May 27th. Finally, Truist Financial began coverage on Visa in a report on Monday, June 2nd. They issued a "buy" rating and a $400.00 price objective for the company. Five research analysts have rated the stock with a hold rating, twenty-three have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average target price of $372.80.

Insider Activity at Visa

In other Visa news, CEO Ryan Mcinerney sold 8,620 shares of Visa stock in a transaction that occurred on Thursday, May 1st. The stock was sold at an average price of $345.58, for a total transaction of $2,978,899.60. Following the sale, the chief executive officer now directly owns 537 shares of the company's stock, valued at approximately $185,576.46. The trade was a 94.14% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Paul D. Fabara sold 11,636 shares of the stock in a transaction that occurred on Wednesday, June 11th. The stock was sold at an average price of $375.00, for a total value of $4,363,500.00. Following the completion of the transaction, the insider now directly owns 26,413 shares of the company's stock, valued at $9,904,875. This represents a 30.58% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 101,098 shares of company stock worth $36,738,526 over the last quarter. 0.13% of the stock is owned by corporate insiders.

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.

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