Legacy Trust cut its holdings in shares of Visa Inc. (NYSE:V - Free Report) by 5.1% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 35,132 shares of the credit-card processor's stock after selling 1,905 shares during the period. Visa makes up approximately 3.1% of Legacy Trust's holdings, making the stock its 6th biggest position. Legacy Trust's holdings in Visa were worth $12,474,000 as of its most recent SEC filing.
Several other institutional investors and hedge funds have also added to or reduced their stakes in V. Keystone Global Partners LLC acquired a new stake in shares of Visa during the first quarter valued at approximately $26,000. Family Legacy Financial Solutions LLC acquired a new stake in shares of Visa during the second quarter valued at approximately $28,000. von Borstel & Associates Inc. acquired a new stake in shares of Visa during the first quarter valued at approximately $27,000. Cranbrook Wealth Management LLC raised its holdings in shares of Visa by 82.0% during the second quarter. Cranbrook Wealth Management LLC now owns 91 shares of the credit-card processor's stock valued at $32,000 after acquiring an additional 41 shares during the period. Finally, Westend Capital Management LLC raised its holdings in shares of Visa by 83.1% during the second quarter. Westend Capital Management LLC now owns 108 shares of the credit-card processor's stock valued at $38,000 after acquiring an additional 49 shares during the period. 82.15% of the stock is owned by institutional investors and hedge funds.
Visa Stock Performance
V stock opened at $351.31 on Thursday. The company has a quick ratio of 1.12, a current ratio of 1.12 and a debt-to-equity ratio of 0.52. The company has a market capitalization of $643.88 billion, a price-to-earnings ratio of 34.31, a P/E/G ratio of 2.09 and a beta of 0.90. Visa Inc. has a 12 month low of $274.42 and a 12 month high of $375.51. The firm has a 50 day moving average of $343.66 and a two-hundred day moving average of $346.96.
Visa (NYSE:V - Get Free Report) last posted its earnings results on Tuesday, July 29th. The credit-card processor reported $2.98 EPS for the quarter, topping the consensus estimate of $2.85 by $0.13. The company had revenue of $10.17 billion during the quarter, compared to the consensus estimate of $9.82 billion. Visa had a net margin of 52.16% and a return on equity of 58.93%. The company's revenue for the quarter was up 14.3% compared to the same quarter last year. During the same period in the previous year, the firm posted $2.42 earnings per share. As a group, equities analysts anticipate that Visa Inc. will post 11.3 EPS for the current fiscal year.
Visa Announces Dividend
The firm also recently announced a quarterly dividend, which was paid on Tuesday, September 2nd. Shareholders 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 of this dividend was Tuesday, August 12th. Visa's payout ratio is currently 23.05%.
Insider Activity at Visa
In other news, CEO Ryan Mcinerney sold 10,485 shares of the business's stock in a transaction on Wednesday, October 1st. The shares were sold at an average price of $342.30, for a total value of $3,589,015.50. Following the completion of the sale, the chief executive officer directly owned 537 shares in the company, valued at approximately $183,815.10. The trade was a 95.13% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, General Counsel Julie B. Rottenberg sold 2,027 shares of the business's stock in a transaction on Monday, August 18th. The stock was sold at an average price of $344.02, for a total transaction 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 ownership of the stock. The disclosure for this sale can be found here. Insiders own 0.13% of the company's stock.
Analysts Set New Price Targets
A number of equities research analysts have recently issued reports on V shares. Truist Financial cut their price target on shares of Visa from $400.00 to $397.00 and set a "buy" rating on the stock in a report on Thursday, July 17th. Deutsche Bank Aktiengesellschaft started coverage on shares of Visa in a report on Thursday, July 17th. They set a "buy" rating and a $410.00 price target on the stock. Barclays reaffirmed an "overweight" rating and set a $408.00 price objective (up from $396.00) on shares of Visa in a research report on Thursday, July 31st. Erste Group Bank downgraded shares of Visa from a "buy" rating to a "hold" rating in a research report on Monday, September 22nd. Finally, UBS Group reaffirmed a "buy" rating and set a $415.00 price objective (up from $405.00) on shares of Visa in a research report on Wednesday, July 30th. One research analyst has rated the stock with a Strong Buy rating, twenty-one have issued a Buy rating and five have issued a Hold rating to the company's stock. Based on data from MarketBeat.com, Visa has an average rating of "Moderate Buy" and a consensus target price of $389.00.
Read Our Latest 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.
Featured Articles
Want to see what other hedge funds are holding V? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Visa Inc. (NYSE:V - Free Report).
This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.
Before you consider Visa, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Visa wasn't on the list.
While Visa currently has a Moderate Buy rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
Nuclear energy stocks are roaring. It's the hottest energy sector of the year. Cameco Corp, Paladin Energy, and BWX Technologies were all up more than 40% in 2024. The biggest market moves could still be ahead of us, and there are seven nuclear energy stocks that could rise much higher in the next several months. To unlock these tickers, enter your email address below.
Get This Free Report
Like this article? Share it with a colleague.
Link copied to clipboard.
