Legacy CG LLC Sells 1,386 Shares of Visa Inc. $V

Legacy CG LLC trimmed its position in shares of Visa Inc. (NYSE:V) by 7.5% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 17,126 shares of the credit-card processor’s stock after selling 1,386 shares during the period. Visa comprises 1.6% of Legacy CG LLC’s investment portfolio, making the stock its 26th largest position. Legacy CG LLC’s holdings in Visa were worth $6,154,000 at the end of the most recent reporting period.

Other hedge funds also recently bought and sold shares of the company. John Boyer Inc. bought a new position in Visa during the third quarter valued at approximately $27,000. Philadelphia Investment Partners LLC purchased a new position in shares of Visa during the second quarter worth approximately $29,000. Virtus Advisers LLC bought a new stake in shares of Visa in the 2nd quarter worth approximately $33,000. Robinswood Financial LLC bought a new stake in shares of Visa in the 1st quarter worth approximately $35,000. Finally, Portfolio Resources Advisor Group Inc. bought a new stake in shares of Visa in the 3rd quarter worth approximately $35,000. Institutional investors own 82.15% of the company’s stock.

Insider Buying and Selling at Visa

In other Visa news, CEO Ryan Mcinerney sold 5,875 shares of the business’s stock in a transaction dated Monday, November 2nd. The shares were sold at an average price of $416.22, for a total value of $2,445,292.50. Following the transaction, the chief executive officer owned 15,174 shares in the company, valued at approximately $6,315,722.28. The trade was a 27.91% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, General Counsel Julie B. Rottenberg sold 1,867 shares of the business’s stock in a transaction dated Wednesday, September 9th. The shares were sold at an average price of $368.34, for a total transaction of $687,690.78. Following the completion of the transaction, the general counsel owned 18,404 shares in the company, valued at $6,778,929.36. The trade was a 9.21% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold a total of 27,395 shares of company stock valued at $10,406,050 in the last three months. 0.12% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

Several equities analysts recently commented on V shares. Barclays increased their target price on shares of Visa from $420.00 to $440.00 and gave the company an “overweight” rating in a report on Wednesday, October 28th. BMO Capital Markets set a $438.00 price target on shares of Visa and gave the stock an “outperform” rating in a research note on Wednesday, October 28th. Loop Capital upped their price target on shares of Visa from $387.00 to $404.00 and gave the company a “buy” rating in a research report on Wednesday, July 29th. Argus upped their price target on shares of Visa from $396.00 to $420.00 and gave the company a “buy” rating in a research report on Friday, July 31st. Finally, Piper Sandler reaffirmed an “overweight” rating and set a $479.00 price objective (up from $430.00) on shares of Visa in a research note on Wednesday, October 28th. Two investment analysts have rated the stock with a Strong Buy rating and thirty-five have assigned a Buy rating to the company’s stock. According to MarketBeat.com, Visa presently has an average rating of “Buy” and an average target price of $440.03.

Visa Stock Performance

Shares of V stock opened at $420.27 on Wednesday. The company has a market capitalization of $749.95 billion, a P/E ratio of 34.09, a PEG ratio of 1.81 and a beta of 0.80. Visa Inc. has a fifty-two week low of $293.89 and a fifty-two week high of $426.78. The company has a debt-to-equity ratio of 0.54, a quick ratio of 0.99 and a current ratio of 0.97. The stock has a 50 day moving average price of $383.16 and a two-hundred day moving average price of $343.20.

Visa (NYSE:V) last issued its earnings results on Tuesday, October 27th. The credit-card processor reported $3.48 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.44 by $0.04. Visa had a net margin of 51.20% and a return on equity of 70.50%. The firm had revenue of $12.14 billion for the quarter, compared to analysts’ expectations of $12.09 billion. During the same quarter last year, the business earned $2.98 earnings per share. The business’s revenue was up 13.2% on a year-over-year basis. Analysts expect that Visa Inc. will post 15.03 earnings per share for the current year.

Visa Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, December 1st. Shareholders of record on Tuesday, November 10th will be given a dividend of $0.78 per share. This represents a $3.12 annualized dividend and a yield of 0.7%. The ex-dividend date of this dividend is Tuesday, November 10th. This is an increase from Visa’s previous quarterly dividend of $0.67. Visa’s dividend payout ratio is currently 21.74%.

Key Stories Impacting Visa

Here are the key news stories impacting Visa this week:

• Positive Sentiment: Visa raised its quarterly dividend to $0.78 per share, alongside reported double-digit year-over-year growth in quarterly revenue and profit. These developments support the view that its payments business is growing while returning cash to shareholders. Read article: Will Earnings Beat Change Visa Stock’s Narrative
• Positive Sentiment: Visa signed partnerships in Hong Kong and Senegal to advance AI-enabled commerce and digital payments, potentially expanding its reach in fintech and financial inclusion. Read article: Visa Signs Two New Deals To Push AI Commerce And Digital Payments
• Positive Sentiment: Bill Ackman praised Visa alongside Mastercard and Netflix, while Cantor Fitzgerald maintained an Overweight rating and raised its price target to $500. Zacks also upgraded Visa to a Buy rating, citing earnings prospects. Read article: Ackman Calls Stock Market Broken but Touts Visa Read article: Visa Stocks Rise With Higher Cantor Target
• Neutral Sentiment: Former CEO Joseph Saunders, who led Visa’s 2008 IPO, has died. The reports describe his legacy but provide no indication of an operational or financial impact on the company. Read article: Former Visa CEO Joseph Saunders Dies
• Negative Sentiment: CEO Ryan McInerney sold 5,875 shares, reducing his position by about 28%. The sale was made under a pre-arranged Rule 10b5-1 plan, which moderates its significance as a signal about his outlook. Read SEC filing

About Visa

Visa Inc (NYSE: V) is a global payments technology company that facilitates electronic payments between consumers, businesses, financial institutions and governments. Through its VisaNet network, the company authorizes, clears and settles transactions made with Visa-branded credit, debit and prepaid cards, while generally not issuing cards, extending credit or setting cardholder account terms.

Visa provides payment products and services for consumer, commercial and government payments, as well as digital commerce and money movement.