Legacy CG LLC Buys 4,234 Shares of Visa Inc. (NYSE:V)

Legacy CG LLC grew its stake in Visa Inc. (NYSE:V) by 20.7% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 24,692 shares of the credit-card processor’s stock after acquiring an additional 4,234 shares during the period. Visa accounts for about 2.4% of Legacy CG LLC’s investment portfolio, making the stock its 11th biggest position. Legacy CG LLC’s holdings in Visa were worth $6,429,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors also recently modified their holdings of the stock. Investment Advisory Services Inc. TX ADV raised its stake in shares of Visa by 2.0% during the third quarter. Investment Advisory Services Inc. TX ADV now owns 3,930 shares of the credit-card processor’s stock worth $904,000 after buying an additional 78 shares during the last quarter. Towerpoint Wealth LLC bought a new stake in Visa in the fourth quarter valued at about $216,000. Wayfinding Financial LLC lifted its stake in Visa by 10.1% in the third quarter. Wayfinding Financial LLC now owns 1,757 shares of the credit-card processor’s stock valued at $406,000 after buying an additional 161 shares during the period. Richelieu Gestion SA bought a new position in Visa during the fourth quarter worth about $307,000. Finally, Cooper Financial Group grew its holdings in Visa by 6.4% during the fourth quarter. Cooper Financial Group now owns 7,926 shares of the credit-card processor’s stock valued at $2,064,000 after purchasing an additional 476 shares during the period. 82.15% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of brokerages have recently weighed in on V. Susquehanna lifted their price target on shares of Visa from $300.00 to $326.00 and gave the stock a “positive” rating in a research report on Friday, January 26th. Mizuho reiterated a “neutral” rating and issued a $265.00 price objective on shares of Visa in a research report on Wednesday, March 27th. TD Cowen initiated coverage on shares of Visa in a report on Thursday, April 11th. They set a “buy” rating and a $320.00 target price on the stock. Royal Bank of Canada upped their price target on shares of Visa from $290.00 to $309.00 and gave the company an “outperform” rating in a report on Friday, January 26th. Finally, Raymond James raised their price objective on shares of Visa from $287.00 to $311.00 and gave the stock an “outperform” rating in a report on Friday, January 26th. Five investment analysts have rated the stock with a hold rating and nineteen have given a buy rating to the company’s stock. According to MarketBeat, Visa presently has an average rating of “Moderate Buy” and a consensus target price of $296.87.

Visa Stock Up 0.0 %

V stock opened at $271.34 on Wednesday. Visa Inc. has a 1-year low of $216.14 and a 1-year high of $290.96. The business’s 50 day simple moving average is $279.93 and its 200 day simple moving average is $262.49. The company has a current ratio of 1.45, a quick ratio of 1.45 and a debt-to-equity ratio of 0.54. The firm has a market capitalization of $498.32 billion, a PE ratio of 31.22, a PEG ratio of 1.87 and a beta of 0.96.

Visa (NYSE:V) last issued its quarterly earnings data on Thursday, January 25th. The credit-card processor reported $2.41 EPS for the quarter, beating analysts’ consensus estimates of $2.34 by $0.07. The firm had revenue of $8.63 billion for the quarter, compared to analyst estimates of $8.55 billion. Visa had a return on equity of 50.02% and a net margin of 53.92%. The company’s revenue for the quarter was up 9.3% on a year-over-year basis. During the same period in the prior year, the firm posted $2.18 EPS. As a group, research analysts anticipate that Visa Inc. will post 9.89 EPS for the current year.

Visa Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, March 1st. Investors of record on Friday, February 9th were paid a $0.52 dividend. This represents a $2.08 annualized dividend and a yield of 0.77%. The ex-dividend date was Thursday, February 8th. Visa’s payout ratio is 23.94%.

Insiders Place Their Bets

In other news, CEO Ryan Mcinerney sold 8,200 shares of the company’s stock in a transaction on Monday, April 1st. The shares were sold at an average price of $280.36, for a total transaction of $2,298,952.00. Following the completion of the transaction, the chief executive officer now directly owns 538 shares in the company, valued at $150,833.68. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In related news, insider Rajat Taneja sold 36,546 shares of Visa stock in a transaction that occurred on Friday, January 19th. The shares were sold at an average price of $270.20, for a total transaction of $9,874,729.20. Following the sale, the insider now directly owns 232,112 shares in the company, valued at approximately $62,716,662.40. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, CEO Ryan Mcinerney sold 8,200 shares of the business’s stock in a transaction on Monday, April 1st. The stock was sold at an average price of $280.36, for a total transaction of $2,298,952.00. Following the completion of the sale, the chief executive officer now directly owns 538 shares in the company, valued at approximately $150,833.68. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 55,511 shares of company stock valued at $15,131,081. 0.19% of the stock is currently owned by 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.