Legend Financial Advisors Inc. Decreases Stake in Visa Inc. (NYSE:V)

Legend Financial Advisors Inc. decreased its holdings in shares of Visa Inc. (NYSE:V) by 94.0% in the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 100 shares of the credit-card processor’s stock after selling 1,558 shares during the quarter. Legend Financial Advisors Inc.’s holdings in Visa were worth $27,000 as of its most recent SEC filing.

A number of other hedge funds have also modified their holdings of V. Westend Capital Management LLC acquired a new stake in Visa in the 1st quarter valued at about $25,000. POM Investment Strategies LLC increased its position in Visa by 970.0% during the second quarter. POM Investment Strategies LLC now owns 107 shares of the credit-card processor’s stock worth $28,000 after purchasing an additional 97 shares during the last quarter. TruNorth Capital Management LLC grew its stake in shares of Visa by 211.9% in the 2nd quarter. TruNorth Capital Management LLC now owns 131 shares of the credit-card processor’s stock valued at $34,000 after buying an additional 89 shares during the period. Abich Financial Wealth Management LLC increased its holdings in shares of Visa by 52.9% during the 1st quarter. Abich Financial Wealth Management LLC now owns 133 shares of the credit-card processor’s stock worth $37,000 after buying an additional 46 shares during the last quarter. Finally, CarsonAllaria Wealth Management Ltd. purchased a new stake in shares of Visa during the 2nd quarter valued at approximately $35,000. 82.15% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several research analysts recently weighed in on the company. William Blair upgraded Visa to a “strong-buy” rating in a research report on Tuesday, July 23rd. StockNews.com upgraded Visa from a “hold” rating to a “buy” rating in a report on Friday, August 9th. Monness Crespi & Hardt restated a “neutral” rating on shares of Visa in a report on Tuesday, September 24th. Citigroup decreased their target price on shares of Visa from $321.00 to $319.00 and set a “buy” rating on the stock in a research report on Wednesday, July 24th. Finally, Evercore ISI dropped their price target on shares of Visa from $335.00 to $330.00 and set an “outperform” rating for the company in a research report on Tuesday, June 25th. Four investment analysts have rated the stock with a hold rating, twenty-three have assigned a buy rating and two have given a strong buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $314.19.

Visa Stock Up 0.1 %

V stock opened at $290.62 on Friday. The company’s 50 day moving average is $276.91 and its two-hundred day moving average is $272.94. Visa Inc. has a twelve month low of $228.03 and a twelve month high of $293.07. The company has a current ratio of 1.37, a quick ratio of 1.37 and a debt-to-equity ratio of 0.54. The stock has a market cap of $531.53 billion, a P/E ratio of 32.47, a PEG ratio of 1.94 and a beta of 0.96.

Visa (NYSE:V) last released its quarterly earnings data on Tuesday, July 23rd. The credit-card processor reported $2.42 earnings per share (EPS) for the quarter, meeting the consensus estimate of $2.42. Visa had a net margin of 54.72% and a return on equity of 51.94%. The company had revenue of $8.90 billion during the quarter, compared to the consensus estimate of $8.92 billion. During the same quarter in the prior year, the firm posted $2.16 earnings per share. Visa’s revenue for the quarter was up 9.6% on a year-over-year basis. Research analysts expect that Visa Inc. will post 9.92 earnings per share for the current fiscal year.

Visa Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, September 3rd. Shareholders of record on Friday, August 9th were paid a $0.52 dividend. This represents a $2.08 dividend on an annualized basis and a yield of 0.72%. The ex-dividend date was Friday, August 9th. Visa’s dividend payout ratio is currently 23.24%.

Insider Transactions at Visa

In related news, CEO Ryan Mcinerney sold 8,620 shares of the business’s stock in a transaction dated Tuesday, September 3rd. The stock was sold at an average price of $276.37, for a total value of $2,382,309.40. Following the transaction, the chief executive officer now owns 538 shares in the company, valued at $148,687.06. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Insiders own 0.19% of the company’s stock.

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.