Visa Inc. $V Shares Sold by Legend Financial Advisors Inc.

Key Points

• Legend Financial Advisors Inc. reduced its stake in Visa Inc. by 81.8%, selling 1,357 shares and retaining just 301 shares valued at approximately $107,000.
• Multiple large investors have raised their positions in Visa, with notable increases from Lakeridge Wealth Management LLC (5.7% increase) and Fjarde AP Fonden Fourth Swedish National Pension Fund (14.5% increase).
• Visa's quarterly earnings exceeded expectations, reporting $2.98 earnings per share, surpassing estimates of $2.85, and a revenue of $10.17 billion, compared to the consensus estimate of $9.82 billion.

Legend Financial Advisors Inc. lessened its position in Visa Inc. (NYSE:V - Free Report) by 81.8% in the 2nd quarter, according to its most recent filing with the SEC. The firm owned 301 shares of the credit-card processor's stock after selling 1,357 shares during the period. Legend Financial Advisors Inc.'s holdings in Visa were worth $107,000 at the end of the most recent reporting period.

Other large investors have also made changes to their positions in the company. Lakeridge Wealth Management LLC increased its holdings in shares of Visa by 5.7% in the 1st quarter. Lakeridge Wealth Management LLC now owns 1,507 shares of the credit-card processor's stock valued at $528,000 after purchasing an additional 81 shares in the last quarter. Fjarde AP Fonden Fourth Swedish National Pension Fund increased its holdings in shares of Visa by 14.5% in the 1st quarter. Fjarde AP Fonden Fourth Swedish National Pension Fund now owns 455,183 shares of the credit-card processor's stock valued at $159,523,000 after purchasing an additional 57,800 shares in the last quarter. Iron Gate Global Advisors LLC increased its holdings in shares of Visa by 5.9% in the 1st quarter. Iron Gate Global Advisors LLC now owns 62,890 shares of the credit-card processor's stock valued at $22,040,000 after purchasing an additional 3,484 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its holdings in shares of Visa by 7.2% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 14,277,146 shares of the credit-card processor's stock valued at $5,003,569,000 after purchasing an additional 955,392 shares in the last quarter. Finally, Yeomans Consulting Group Inc. increased its holdings in shares of Visa by 2.9% in the 1st quarter. Yeomans Consulting Group Inc. now owns 1,027 shares of the credit-card processor's stock valued at $360,000 after purchasing an additional 29 shares in the last quarter. Hedge funds and other institutional investors own 82.15% of the company's stock.

Analysts Set New Price Targets

V has been the subject of a number of research analyst reports. UBS Group reiterated a "buy" rating and issued a $415.00 price target (up previously from $405.00) on shares of Visa in a report on Wednesday, July 30th. Macquarie increased their price target on shares of Visa from $380.00 to $425.00 and gave the company an "outperform" rating in a report on Thursday, July 31st. Citigroup began coverage on shares of Visa in a report on Monday, June 2nd. They issued a "buy" rating for the company. The Goldman Sachs Group began coverage on shares of Visa in a report on Monday, June 2nd. They set a "neutral" rating for the company. Finally, Truist Financial dropped their target price on shares of Visa from $400.00 to $397.00 and set a "buy" rating for the company in a report on Thursday, July 17th. One research analyst has rated the stock with a Strong Buy rating, twenty have issued a Buy rating and five have given a Hold rating to the company. Based on data from MarketBeat, Visa currently has an average rating of "Moderate Buy" and an average 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 dated Tuesday, July 1st. The shares were 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 $190,001.34. The trade was a 94.14% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, General Counsel Julie B. Rottenberg sold 2,027 shares of Visa stock in a transaction dated Monday, August 18th. The stock was sold at an average price of $344.02, for a total transaction of $697,328.54. Following the sale, the general counsel owned 11,925 shares of the company's stock, valued at approximately $4,102,438.50. This trade represents 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.

Visa Stock Performance

NYSE:V opened at $337.15 on Friday. The company has a current ratio of 1.12, a quick ratio of 1.12 and a debt-to-equity ratio of 0.52. The firm has a 50-day moving average price of $344.65 and a two-hundred day moving average price of $346.35. Visa Inc. has a twelve month low of $272.78 and a twelve month high of $375.51. The company has a market capitalization of $617.93 billion, a P/E ratio of 32.92, a price-to-earnings-growth ratio of 2.24 and a beta of 0.92.

Visa (NYSE:V - Get Free Report) last posted 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 firm 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 firm's revenue for the quarter was up 14.3% on a year-over-year basis. During the same period last year, the firm posted $2.42 EPS. As a group, research analysts expect that Visa Inc. will post 11.3 earnings per share for the current fiscal year.

Visa Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, September 2nd. Stockholders of record on Tuesday, August 12th were issued a dividend of $0.59 per share. The ex-dividend date was Tuesday, August 12th. This represents a $2.36 dividend on an annualized basis and a dividend yield of 0.7%. Visa's payout ratio is 23.05%.

Visa 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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