Visa Inc. (NYSE:V) is Legacy Wealth Management LLC MS’s 7th Largest Position

Legacy Wealth Management LLC MS boosted its position in Visa Inc. (NYSE:V) by 2.5% during the third quarter, HoldingsChannel reports. The fund owned 27,274 shares of the credit-card processor’s stock after buying an additional 655 shares during the quarter. Visa comprises 2.8% of Legacy Wealth Management LLC MS’s holdings, making the stock its 7th biggest position. Legacy Wealth Management LLC MS’s holdings in Visa were worth $7,499,000 at the end of the most recent reporting period.

A number of other institutional investors also recently modified their holdings of the business. Verde Capital Management raised its stake in shares of Visa by 44.5% during the 2nd quarter. Verde Capital Management now owns 1,947 shares of the credit-card processor’s stock valued at $511,000 after purchasing an additional 600 shares during the period. Cordatus Wealth Management LLC boosted its position in shares of Visa by 0.9% in the second quarter. Cordatus Wealth Management LLC now owns 10,885 shares of the credit-card processor’s stock valued at $2,857,000 after acquiring an additional 92 shares during the period. Winthrop Advisory Group LLC grew its stake in Visa by 2.8% during the second quarter. Winthrop Advisory Group LLC now owns 9,180 shares of the credit-card processor’s stock valued at $2,409,000 after acquiring an additional 247 shares in the last quarter. JLB & Associates Inc. boosted its holdings in Visa by 2.0% in the 2nd quarter. JLB & Associates Inc. now owns 10,495 shares of the credit-card processor’s stock valued at $2,755,000 after purchasing an additional 205 shares during the period. Finally, Hayek Kallen Investment Management increased its holdings in shares of Visa by 0.9% in the second quarter. Hayek Kallen Investment Management now owns 21,763 shares of the credit-card processor’s stock worth $5,712,000 after purchasing an additional 192 shares during the period. 82.15% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

V has been the subject of a number of research analyst reports. Keefe, Bruyette & Woods boosted their price objective on Visa from $335.00 to $360.00 and gave the stock an “outperform” rating in a report on Monday. Jefferies Financial Group increased their target price on Visa from $320.00 to $330.00 and gave the company a “buy” rating in a research note on Wednesday, October 30th. Macquarie upped their price objective on Visa from $300.00 to $335.00 and gave the stock an “outperform” rating in a report on Wednesday, October 30th. Mizuho raised their price objective on Visa from $279.00 to $292.00 and gave the company a “neutral” rating in a report on Friday, November 1st. Finally, Susquehanna increased their target price on shares of Visa from $339.00 to $375.00 and gave the company a “positive” rating in a report on Wednesday. Four investment analysts have rated the stock with a hold rating, twenty-five have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $324.74.

Visa Stock Performance

Shares of NYSE V traded up $1.07 during trading on Friday, reaching $315.30. 885,803 shares of the company traded hands, compared to its average volume of 6,868,554. The firm has a 50 day simple moving average of $298.56 and a 200-day simple moving average of $280.71. Visa Inc. has a 52-week low of $252.70 and a 52-week high of $317.42. The stock has a market capitalization of $587.37 billion, a PE ratio of 32.29, a P/E/G ratio of 2.11 and a beta of 0.96. The company has a quick ratio of 1.28, a current ratio of 1.28 and a debt-to-equity ratio of 0.55.

Visa (NYSE:V) last announced its earnings results on Tuesday, October 29th. The credit-card processor reported $2.71 earnings per share for the quarter, beating analysts’ consensus estimates of $2.58 by $0.13. Visa had a net margin of 54.96% and a return on equity of 53.16%. The business had revenue of $9.62 billion during the quarter, compared to analyst estimates of $9.49 billion. During the same period in the previous year, the business earned $2.33 EPS. The company’s quarterly revenue was up 11.7% compared to the same quarter last year. Equities research analysts anticipate that Visa Inc. will post 11.19 earnings per share for the current year.

Visa Increases Dividend

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

Insider Activity at Visa

In other Visa news, insider Paul D. Fabara sold 2,171 shares of the company’s stock in a transaction dated Friday, November 22nd. The stock was sold at an average price of $307.97, for a total value of $668,602.87. Following the completion of the sale, the insider now owns 17,894 shares in the company, valued at $5,510,815.18. This represents a 10.82 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. 0.19% of the stock is currently 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.