Legacy CG LLC lowered its position in Visa Inc. (NYSE:V - Free Report) by 5.8% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 21,397 shares of the credit-card processor's stock after selling 1,311 shares during the quarter. Visa makes up about 2.4% of Legacy CG LLC's investment portfolio, making the stock its 12th largest holding. Legacy CG LLC's holdings in Visa were worth $7,499,000 at the end of the most recent reporting period.
A number of other large investors have also recently added to or reduced their stakes in the company. Canvas Wealth Advisors LLC lifted its stake in Visa by 7.3% in the first quarter. Canvas Wealth Advisors LLC now owns 2,322 shares of the credit-card processor's stock valued at $770,000 after acquiring an additional 158 shares during the last quarter. Illinois Municipal Retirement Fund lifted its stake in Visa by 16.9% in the first quarter. Illinois Municipal Retirement Fund now owns 119,121 shares of the credit-card processor's stock valued at $41,747,000 after acquiring an additional 17,257 shares during the last quarter. Transcend Capital Advisors LLC lifted its stake in Visa by 6.4% in the first quarter. Transcend Capital Advisors LLC now owns 32,362 shares of the credit-card processor's stock valued at $11,342,000 after acquiring an additional 1,953 shares during the last quarter. Wolff Financial Management LLC lifted its stake in Visa by 21.1% in the first quarter. Wolff Financial Management LLC now owns 3,154 shares of the credit-card processor's stock valued at $1,105,000 after acquiring an additional 550 shares during the last quarter. Finally, Trust Co. of Vermont lifted its stake in Visa by 0.3% in the first quarter. Trust Co. of Vermont now owns 65,994 shares of the credit-card processor's stock valued at $23,128,000 after acquiring an additional 224 shares during the last quarter. Institutional investors and hedge funds own 82.15% of the company's stock.
Insider Buying and Selling at Visa
In other news, CEO Ryan Mcinerney sold 8,620 shares of the firm's stock in a transaction that occurred on Thursday, May 1st. The shares were sold at an average price of $345.58, for a total value of $2,978,899.60. Following the sale, the chief executive officer now directly owns 537 shares in the company, valued at approximately $185,576.46. This trade represents a 94.14% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Paul D. Fabara sold 11,636 shares of the firm's stock in a transaction that occurred on 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 completion of the sale, the insider now owns 26,413 shares in the company, valued at approximately $9,904,875. The trade was a 30.58% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 101,098 shares of company stock valued at $36,738,526 in the last ninety days. 0.13% of the stock is currently owned by company insiders.
Visa Price Performance
V stock opened at $349.13 on Friday. The company has a quick ratio of 1.08, a current ratio of 1.08 and a debt-to-equity ratio of 0.45. Visa Inc. has a 12 month low of $252.70 and a 12 month high of $375.51. The firm has a market cap of $644.20 billion, a P/E ratio of 35.09, a P/E/G ratio of 2.34 and a beta of 0.94. The company's 50-day moving average price is $353.30 and its two-hundred day moving average price is $340.01.
Visa (NYSE:V - Get Free Report) last released its earnings results on Tuesday, April 29th. The credit-card processor reported $2.76 EPS for the quarter, beating the consensus estimate of $2.68 by $0.08. Visa had a net margin of 52.86% and a return on equity of 56.28%. The firm had revenue of $9.59 billion for the quarter, compared to analyst estimates of $9.57 billion. During the same period last year, the firm earned $2.51 EPS. The business's quarterly revenue was up 9.3% 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 Monday, June 2nd. Shareholders of record on Tuesday, May 13th were issued a $0.59 dividend. This represents a $2.36 annualized dividend and a yield of 0.68%. The ex-dividend date was Tuesday, May 13th. Visa's dividend payout ratio is currently 23.72%.
Wall Street Analyst Weigh In
A number of analysts have recently issued reports on V shares. Citigroup started coverage on shares of Visa in a research note on Monday, June 2nd. They set a "buy" rating for the company. Jefferies Financial Group raised their target price on shares of Visa from $400.00 to $410.00 and gave the stock a "buy" rating in a research note on Tuesday, May 27th. Evercore ISI started coverage on shares of Visa in a research note on Wednesday, April 9th. They set an "in-line" rating and a $330.00 target price for the company. Truist Financial started coverage on shares of Visa in a research note on Monday, June 2nd. They set a "buy" rating and a $400.00 target price for the company. Finally, William Blair restated an "outperform" rating on shares of Visa in a research note on Wednesday, April 30th. Five analysts have rated the stock with a hold rating, twenty-three have issued a buy rating and one has assigned a strong buy rating to the company's stock. Based on data from MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus target price of $372.80.
Check Out Our Latest Stock Analysis on Visa
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.
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