Legacy Financial Group Inc. Buys 1,026 Shares of Visa Inc. (NYSE:V)

Legacy Financial Group Inc. lifted its holdings in shares of Visa Inc. (NYSE:V - Free Report) by 97.1% in the first quarter, according to its most recent filing with the SEC. The firm owned 2,083 shares of the credit-card processor's stock after acquiring an additional 1,026 shares during the period. Legacy Financial Group Inc.'s holdings in Visa were worth $694,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. von Borstel & Associates Inc. bought a new stake in shares of Visa in the 1st quarter worth about $27,000. Sellwood Investment Partners LLC bought a new position in shares of Visa in the fourth quarter valued at about $41,000. Mountain Hill Investment Partners Corp. bought a new position in shares of Visa in the fourth quarter valued at about $47,000. Measured Risk Portfolios Inc. bought a new position in shares of Visa in the fourth quarter valued at about $47,000. Finally, Navigoe LLC bought a new position in shares of Visa in the fourth quarter valued at about $53,000. 82.15% of the stock is owned by institutional investors.

Insider Transactions at Visa

In related news, insider Paul D. Fabara sold 46,214 shares of the firm's stock in a transaction dated Thursday, June 5th. The shares were sold at an average price of $370.00, for a total transaction of $17,099,180.00. Following the transaction, the insider directly owned 26,413 shares of the company's stock, valued at $9,772,810. This trade represents a 63.63% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, General Counsel Julie B. Rottenberg sold 2,575 shares of the firm's stock in a transaction dated Thursday, May 1st. The shares were sold at an average price of $345.58, for a total transaction of $889,868.50. Following the transaction, the general counsel directly owned 11,925 shares in the company, valued at $4,121,041.50. The trade was a 17.76% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 101,108 shares of company stock valued at $36,771,200. Corporate insiders own 0.13% of the company's stock.

Analysts Set New Price Targets

V has been the topic of several recent research reports. Macquarie decreased their price target on Visa from $400.00 to $380.00 and set an "outperform" rating on the stock in a report on Wednesday, April 30th. Jefferies Financial Group raised their price target on Visa from $400.00 to $410.00 and gave the company a "buy" rating in a report on Tuesday, May 27th. The Goldman Sachs Group started coverage on Visa in a report on Monday, June 2nd. They issued a "neutral" rating on the stock. Evercore ISI assumed coverage on Visa in a report on Wednesday, April 9th. They issued an "in-line" rating and a $330.00 price objective for the company. Finally, Wall Street Zen upgraded Visa from a "hold" rating to a "buy" rating in a report on Monday, May 12th. Five research analysts have rated the stock with a hold rating, twenty-three have given a buy rating and one has issued 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 an average price target of $372.84.

Visa Trading Down 1.0%

Visa stock traded down $3.42 during trading hours on Tuesday, hitting $347.09. The stock had a trading volume of 4,887,324 shares, compared to its average volume of 6,809,815. The company has a quick ratio of 1.08, a current ratio of 1.08 and a debt-to-equity ratio of 0.45. The stock has a market cap of $640.43 billion, a price-to-earnings ratio of 34.88, a P/E/G ratio of 2.38 and a beta of 0.92. Visa Inc. has a one year low of $252.70 and a one year high of $375.51. The business's 50 day simple moving average is $356.96 and its 200-day simple moving average is $343.09.

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 firm had revenue of $9.59 billion for the quarter, compared to analyst estimates of $9.57 billion. During the same quarter in the previous year, the company posted $2.51 EPS. The business's revenue was up 9.3% on a year-over-year basis. On average, equities analysts predict that Visa Inc. will post 11.3 EPS for the current fiscal year.

Visa Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Monday, June 2nd. Stockholders of record on Tuesday, May 13th were given a $0.59 dividend. This represents a $2.36 annualized dividend and a dividend yield of 0.68%. The ex-dividend date was Tuesday, May 13th. Visa's dividend payout ratio (DPR) is presently 23.72%.

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.