Family Legacy Financial Solutions LLC Makes New Investment in Visa Inc. $V

Family Legacy Financial Solutions LLC purchased a new position in shares of Visa Inc. (NYSE:V) in the 2nd quarter, according to the company in its most recent filing with the SEC. The institutional investor purchased 78 shares of the credit-card processor’s stock, valued at approximately $28,000.

Several other large investors also recently made changes to their positions in V. GAMMA Investing LLC boosted its stake in shares of Visa by 38,416.3% during the 1st quarter. GAMMA Investing LLC now owns 14,761,375 shares of the credit-card processor’s stock worth $5,173,271,000 after acquiring an additional 14,723,050 shares in the last quarter. Nuveen LLC bought a new stake in Visa during the 1st quarter valued at approximately $3,518,533,000. Universal Beteiligungs und Servicegesellschaft mbH bought a new stake in Visa during the 4th quarter valued at approximately $673,689,000. Vanguard Group Inc. boosted its stake in Visa by 1.1% during the 1st quarter. Vanguard Group Inc. now owns 161,082,431 shares of the credit-card processor’s stock valued at $56,452,949,000 after purchasing an additional 1,677,088 shares during the period. Finally, Wellington Management Group LLP boosted its stake in Visa by 17.7% during the 1st quarter. Wellington Management Group LLP now owns 10,979,720 shares of the credit-card processor’s stock valued at $3,847,953,000 after purchasing an additional 1,651,954 shares during the period. Institutional investors own 82.15% of the company’s stock.

Wall Street Analysts Forecast Growth

V has been the subject of several recent analyst reports. Deutsche Bank Aktiengesellschaft initiated coverage on Visa in a research note on Thursday, July 17th. They set a “buy” rating and a $410.00 target price for the company. The Goldman Sachs Group initiated coverage on Visa in a research note on Monday, June 2nd. They set a “neutral” rating for the company. Jefferies Financial Group increased their target price on Visa from $400.00 to $410.00 and gave the company a “buy” rating in a research note on Tuesday, May 27th. Mizuho upgraded Visa from a “neutral” rating to an “outperform” rating and increased their target price for the company from $359.00 to $425.00 in a research note on Thursday, June 5th. Finally, UBS Group restated a “buy” rating and set a $415.00 target price (up previously from $405.00) on shares of Visa in a research note on Wednesday, July 30th. One investment analyst has rated the stock with a Strong Buy rating, twenty have issued a Buy rating and five have issued a Hold rating to the company. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $385.96.

Visa Trading Down 2.2%

V stock opened at $338.45 on Friday. The business has a fifty day moving average price of $345.81 and a 200 day moving average price of $346.47. Visa Inc. has a fifty-two week low of $268.23 and a fifty-two week high of $375.51. The stock has a market capitalization of $620.32 billion, a price-to-earnings ratio of 33.05, a P/E/G ratio of 2.30 and a beta of 0.92. The company has a debt-to-equity ratio of 0.52, a current ratio of 1.12 and a quick ratio of 1.12.

Visa (NYSE:V) last released its quarterly earnings results on Tuesday, July 29th. The credit-card processor reported $2.98 earnings per share for the quarter, beating analysts’ consensus estimates of $2.85 by $0.13. Visa had a return on equity of 58.93% and a net margin of 52.16%.The firm had revenue of $10.17 billion during the quarter, compared to analysts’ expectations of $9.82 billion. During the same period last year, the firm posted $2.42 EPS. The business’s revenue was up 14.3% on a year-over-year basis. Analysts expect that Visa Inc. will post 11.3 EPS for the current fiscal year.

Visa Dividend Announcement

The company also recently disclosed 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 dividend on an annualized basis and a yield of 0.7%. The ex-dividend date was Tuesday, August 12th. Visa’s dividend payout ratio (DPR) is presently 23.05%.

Insiders Place Their Bets

In other Visa news, General Counsel Julie B. Rottenberg sold 2,027 shares of the stock in a transaction on Monday, August 18th. The stock was sold at an average price of $344.02, for a total value of $697,328.54. Following the transaction, the general counsel directly owned 11,925 shares in the company, valued at approximately $4,102,438.50. This trade represents a 14.53% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Ryan Mcinerney sold 8,630 shares of the stock in a transaction on Tuesday, July 1st. The shares were sold at an average price of $353.82, for a total value of $3,053,466.60. Following the completion of the transaction, the chief executive officer 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 disclosure for this sale can be found here. 0.13% of the stock is currently owned by company insiders.

About Visa

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.