Legacy Wealth Management LLC MS reduced its position in Visa Inc. (NYSE:V - Free Report) by 8.3% during the first quarter, according to its most recent 13F filing with the SEC. The firm owned 23,377 shares of the credit-card processor's stock after selling 2,114 shares during the period. Visa accounts for approximately 2.7% of Legacy Wealth Management LLC MS's portfolio, making the stock its 5th largest holding. Legacy Wealth Management LLC MS's holdings in Visa were worth $8,193,000 at the end of the most recent quarter.
Several other institutional investors have also added to or reduced their stakes in the business. Lederer & Associates Investment Counsel CA increased its stake in Visa by 0.7% in the first quarter. Lederer & Associates Investment Counsel CA now owns 11,368 shares of the credit-card processor's stock valued at $3,984,000 after acquiring an additional 80 shares during the last quarter. Kera Capital Partners Inc. increased its holdings in Visa by 5.9% during the 1st quarter. Kera Capital Partners Inc. now owns 990 shares of the credit-card processor's stock valued at $347,000 after purchasing an additional 55 shares during the period. Marcum Wealth LLC raised its holdings in shares of Visa by 0.9% during the first quarter. Marcum Wealth LLC now owns 10,458 shares of the credit-card processor's stock valued at $3,665,000 after acquiring an additional 92 shares in the last quarter. Centre Asset Management LLC purchased a new stake in Visa in the first quarter worth $4,849,000. Finally, Confluence Investment Management LLC bought a new stake in Visa in the first quarter valued at $226,000. 82.15% of the stock is owned by hedge funds and other institutional investors.
Visa Stock Performance
NYSE:V traded up $3.03 on Friday, hitting $365.43. The stock had a trading volume of 8,725,642 shares, compared to its average volume of 7,023,744. The business's 50-day simple moving average is $342.99 and its two-hundred day simple moving average is $333.16. The stock has a market cap of $674.28 billion, a price-to-earnings ratio of 36.84, a price-to-earnings-growth ratio of 2.33 and a beta of 0.96. Visa Inc. has a 52-week low of $252.70 and a 52-week high of $369.15. The company has a quick ratio of 1.12, a current ratio of 1.12 and a debt-to-equity ratio of 0.45.
Visa (NYSE:V - Get Free Report) last issued its quarterly earnings data on Tuesday, April 29th. The credit-card processor reported $2.76 earnings per share for the quarter, topping the consensus estimate of $2.68 by $0.08. The firm had revenue of $9.59 billion for the quarter, compared to analysts' expectations of $9.57 billion. Visa had a net margin of 54.27% and a return on equity of 54.79%. The business's quarterly revenue was up 9.3% on a year-over-year basis. During the same quarter in the prior year, the business earned $2.51 EPS. As a group, research analysts predict that Visa Inc. will post 11.3 earnings per share for the current year.
Visa Dividend Announcement
The firm also recently declared a quarterly dividend, which will be paid on Monday, June 2nd. Stockholders of record on Tuesday, May 13th will be paid a dividend of $0.59 per share. This represents a $2.36 annualized dividend and a dividend yield of 0.65%. The ex-dividend date is Tuesday, May 13th. Visa's dividend payout ratio is presently 23.72%.
Insider Activity
In other Visa news, CEO Ryan Mcinerney sold 8,620 shares of Visa stock in a transaction on Monday, March 3rd. The shares were sold at an average price of $363.00, for a total transaction of $3,129,060.00. Following the completion of the transaction, the chief executive officer now directly owns 537 shares of the company's stock, valued at $194,931. The trade was a 94.14% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, General Counsel Julie B. Rottenberg sold 2,575 shares of the firm's stock in a transaction dated Thursday, May 1st. The stock was sold at an average price of $345.58, for a total transaction of $889,868.50. Following the completion of the sale, the general counsel now owns 11,925 shares of the company's stock, valued at $4,121,041.50. This trade represents a 17.76% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 121,948 shares of company stock valued at $41,548,282 in the last 90 days. Company insiders own 0.13% of the company's stock.
Analysts Set New Price Targets
A number of equities research analysts have recently weighed in on the stock. UBS Group lifted their target price on shares of Visa from $395.00 to $405.00 and gave the company a "buy" rating in a research note on Wednesday. JPMorgan Chase & Co. upped their price target on Visa from $340.00 to $375.00 and gave the stock an "overweight" rating in a research note on Friday, January 31st. Wall Street Zen raised Visa from a "hold" rating to a "buy" rating in a research report on Monday, May 12th. Barclays upped their target price on shares of Visa from $361.00 to $396.00 and gave the stock an "overweight" rating in a research report on Monday, February 3rd. Finally, Wells Fargo & Company upped their price objective on shares of Visa from $360.00 to $395.00 and gave the stock an "overweight" rating in a report on Friday, January 31st. Six investment analysts have rated the stock with a hold rating, twenty-one have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus price target of $366.13.
Get Our Latest Report on Visa
Visa Profile
(
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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