Legacy Private Trust Co. Sells 873 Shares of Visa Inc. $V

Key Points

• Legacy Private Trust Co. has reduced its holdings in Visa Inc. by 6.4%, selling 873 shares in the 2nd quarter, now owning 12,757 shares valued at approximately $4.53 million.
• Visa declared a quarterly dividend of $0.59, representing an annualized yield of 0.7%, with a payout ratio of 23.05% as reported on September 2nd.
• Analyst ratings for Visa have mostly remained positive, with a consensus rating of "Moderate Buy" and a target price around $385.96, indicating bullish sentiment among market analysts.

Legacy Private Trust Co. trimmed its holdings in Visa Inc. (NYSE:V - Free Report) by 6.4% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 12,757 shares of the credit-card processor's stock after selling 873 shares during the quarter. Legacy Private Trust Co.'s holdings in Visa were worth $4,529,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors also recently bought and sold shares of the company. Keystone Global Partners LLC bought a new position in shares of Visa during the first quarter valued at approximately $26,000. von Borstel & Associates Inc. bought a new stake in shares of Visa in the 1st quarter worth approximately $27,000. 1 North Wealth Services LLC purchased a new stake in shares of Visa in the 1st quarter worth approximately $38,000. Anderson Financial Strategies LLC bought a new position in Visa during the 1st quarter valued at approximately $53,000. Finally, O Brien Wealth Partners LLC purchased a new position in Visa during the first quarter valued at $54,000. 82.15% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several brokerages have recently weighed in on V. Raymond James Financial restated an "outperform" rating on shares of Visa in a report on Wednesday, July 30th. Deutsche Bank Aktiengesellschaft began coverage on Visa in a report on Thursday, July 17th. They issued a "buy" rating and a $410.00 target price for the company. Oppenheimer increased their price objective on Visa from $390.00 to $391.00 and gave the company an "outperform" rating in a research report on Wednesday, July 2nd. Morgan Stanley boosted their target price on Visa from $386.00 to $402.00 and gave the stock an "overweight" rating in a research report on Wednesday, July 30th. Finally, Mizuho raised shares of Visa from a "neutral" rating to an "outperform" rating and raised their price target for the company from $359.00 to $425.00 in a report on Thursday, June 5th. One investment analyst has rated the stock with a Strong Buy rating, twenty have assigned a Buy rating and five have issued a Hold rating to the stock. Based on data from MarketBeat, Visa has a consensus rating of "Moderate Buy" and a consensus price target of $385.96.

Insider Transactions at Visa

In other news, CEO Ryan Mcinerney sold 8,630 shares of Visa stock in a transaction on Tuesday, July 1st. The stock was sold at an average price of $353.82, for a total transaction of $3,053,466.60. Following the completion of the sale, the chief executive officer directly owned 537 shares in the company, valued at approximately $190,001.34. This trade represents a 94.14% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, General Counsel Julie B. Rottenberg sold 2,027 shares of the business's stock in a transaction that occurred on Monday, August 18th. The shares were sold at an average price of $344.02, for a total value of $697,328.54. Following the completion of the sale, the general counsel owned 11,925 shares of the company's stock, valued at $4,102,438.50. The trade was a 14.53% decrease in their position. The disclosure for this sale can be found here. Insiders own 0.13% of the company's stock.

Visa Trading Down 1.2%

Shares of V stock opened at $339.33 on Monday. The company has a debt-to-equity ratio of 0.52, a current ratio of 1.12 and a quick ratio of 1.12. The company has a market cap of $621.92 billion, a price-to-earnings ratio of 33.14, a PEG ratio of 2.26 and a beta of 0.92. Visa Inc. has a 1 year low of $268.23 and a 1 year high of $375.51. The firm has a fifty day moving average price of $347.03 and a 200-day moving average price of $346.86.

Visa (NYSE:V - Get Free Report) last released its earnings results on Tuesday, July 29th. The credit-card processor reported $2.98 earnings per share for the quarter, beating the consensus estimate of $2.85 by $0.13. The company had revenue of $10.17 billion for the quarter, compared to the consensus estimate of $9.82 billion. Visa had a return on equity of 58.93% and a net margin of 52.16%.Visa's quarterly revenue was up 14.3% compared to the same quarter last year. During the same period in the previous year, the business earned $2.42 earnings per share. As a group, equities analysts predict that Visa Inc. will post 11.3 earnings per share for the current year.

Visa Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, September 2nd. Investors of record on Tuesday, August 12th were given a $0.59 dividend. This represents a $2.36 annualized dividend and a yield of 0.7%. The ex-dividend date was Tuesday, August 12th. Visa's payout ratio is currently 23.05%.

Visa Company 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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