Visa Inc. (NYSE:V) Shares Acquired by Legacy Private Trust Co.

Legacy Private Trust Co. increased its holdings in shares of Visa Inc. (NYSE:V) by 49.6% during the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 13,728 shares of the credit-card processor’s stock after purchasing an additional 4,550 shares during the quarter. Legacy Private Trust Co.’s holdings in Visa were worth $4,339,000 at the end of the most recent quarter.

Other hedge funds have also recently added to or reduced their stakes in the company. Peterson Financial Group Inc. acquired a new position in Visa in the third quarter valued at $26,000. Reston Wealth Management LLC acquired a new position in shares of Visa in the 3rd quarter valued at about $31,000. Modus Advisors LLC acquired a new position in shares of Visa in the 4th quarter valued at about $32,000. Fairway Wealth LLC purchased a new stake in shares of Visa during the 2nd quarter worth about $39,000. Finally, West Financial Advisors LLC raised its holdings in Visa by 101.4% in the third quarter. West Financial Advisors LLC now owns 145 shares of the credit-card processor’s stock valued at $40,000 after buying an additional 73 shares during the period. 82.15% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

V has been the subject of several recent research reports. Deutsche Bank Aktiengesellschaft increased their price objective on shares of Visa from $300.00 to $340.00 and gave the stock a “buy” rating in a research report on Wednesday, October 30th. The Goldman Sachs Group reaffirmed a “buy” rating and issued a $317.00 target price on shares of Visa in a research report on Thursday, September 12th. BMO Capital Markets boosted their price target on Visa from $310.00 to $320.00 and gave the stock an “outperform” rating in a research report on Wednesday, October 30th. Piper Sandler increased their price objective on shares of Visa from $319.00 to $322.00 and gave the company an “overweight” rating in a research report on Wednesday, October 30th. Finally, Citigroup boosted their target price on shares of Visa from $319.00 to $326.00 and gave the stock a “buy” rating in a research report on Wednesday, October 30th. Four research analysts have rated the stock with a hold rating, twenty-five have given a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $329.70.

Visa Stock Performance

Shares of Visa stock traded up $1.07 on Wednesday, reaching $312.74. 5,027,860 shares of the company were exchanged, compared to its average volume of 5,239,492. The firm has a market cap of $582.60 billion, a price-to-earnings ratio of 32.14, a P/E/G ratio of 2.11 and a beta of 0.96. Visa Inc. has a 1-year low of $252.70 and a 1-year high of $321.61. The company has a debt-to-equity ratio of 0.55, a quick ratio of 1.28 and a current ratio of 1.28. The company’s 50-day moving average is $310.90 and its two-hundred day moving average is $286.27.

Visa (NYSE:V) last posted its earnings results on Tuesday, October 29th. The credit-card processor reported $2.71 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.58 by $0.13. Visa had a return on equity of 53.16% and a net margin of 54.96%. The company had revenue of $9.62 billion for the quarter, compared to analysts’ expectations of $9.49 billion. During the same period last year, the business posted $2.33 earnings per share. The firm’s quarterly revenue was up 11.7% compared to the same quarter last year. As a group, research analysts expect that Visa Inc. will post 11.23 earnings per share for the current fiscal year.

Visa Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, December 2nd. Shareholders of record on Tuesday, November 12th were given a $0.59 dividend. This is a boost from Visa’s previous quarterly dividend of $0.52. The ex-dividend date of this dividend was Tuesday, November 12th. This represents a $2.36 annualized dividend and a yield of 0.75%. Visa’s dividend payout ratio is 24.25%.

Insider Buying and Selling at Visa

In other news, CEO Ryan Mcinerney sold 8,620 shares of the company’s stock in a transaction that occurred on Thursday, January 2nd. The shares were sold at an average price of $317.78, for a total value of $2,739,263.60. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, insider Paul D. Fabara sold 2,171 shares of the stock in a transaction that occurred on Friday, November 22nd. The shares were sold at an average price of $307.97, for a total transaction of $668,602.87. Following the completion of the transaction, the insider now owns 17,894 shares of the company’s stock, valued at $5,510,815.18. This trade represents a 10.82 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.13% of the stock is owned by company insiders.

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.