Visa Inc. (NYSE:V) Shares Bought by Legacy Capital Group California Inc.

Legacy Capital Group California Inc. raised its stake in Visa Inc. (NYSE:V) by 7.2% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 1,534 shares of the credit-card processor’s stock after acquiring an additional 103 shares during the quarter. Legacy Capital Group California Inc.’s holdings in Visa were worth $485,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently added to or reduced their stakes in V. JLB & Associates Inc. grew its holdings in Visa by 34.1% in the fourth quarter. JLB & Associates Inc. now owns 14,331 shares of the credit-card processor’s stock valued at $4,529,000 after purchasing an additional 3,642 shares during the period. Trinity Legacy Partners LLC lifted its position in shares of Visa by 1.1% during the 4th quarter. Trinity Legacy Partners LLC now owns 18,256 shares of the credit-card processor’s stock valued at $5,770,000 after buying an additional 190 shares in the last quarter. Financial Harvest LLC purchased a new position in shares of Visa during the 4th quarter valued at approximately $302,000. Nicholson Wealth Management Group LLC grew its stake in Visa by 71.1% in the 4th quarter. Nicholson Wealth Management Group LLC now owns 5,772 shares of the credit-card processor’s stock valued at $1,824,000 after acquiring an additional 2,398 shares during the period. Finally, Aspen Investment Management Inc increased its holdings in Visa by 1.1% in the 4th quarter. Aspen Investment Management Inc now owns 7,148 shares of the credit-card processor’s stock worth $2,259,000 after acquiring an additional 76 shares in the last quarter. 82.15% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several analysts have recently issued reports on the stock. Piper Sandler reiterated an “overweight” rating and issued a $383.00 target price (up previously from $368.00) on shares of Visa in a research report on Friday, January 31st. Macquarie raised their target price on Visa from $300.00 to $335.00 and gave the company an “outperform” rating in a research report on Wednesday, October 30th. Mizuho boosted their price target on Visa from $279.00 to $292.00 and gave the stock a “neutral” rating in a research report on Friday, November 1st. Susquehanna raised their price objective on Visa from $395.00 to $410.00 and gave the company a “positive” rating in a report on Friday. Finally, TD Cowen lifted their target price on shares of Visa from $318.00 to $325.00 and gave the stock a “buy” rating in a research note on Wednesday, October 30th. Six equities research analysts have rated the stock with a hold rating, twenty-three have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $353.96.

Visa Price Performance

Visa stock opened at $348.27 on Monday. The company has a debt-to-equity ratio of 0.45, a quick ratio of 1.12 and a current ratio of 1.12. The company has a market capitalization of $647.01 billion, a price-to-earnings ratio of 35.11, a price-to-earnings-growth ratio of 2.33 and a beta of 0.97. The company’s 50 day simple moving average is $329.14 and its 200-day simple moving average is $302.66. Visa Inc. has a 1 year low of $252.70 and a 1 year high of $357.15.

Visa (NYSE:V) last released its quarterly earnings results on Thursday, January 30th. The credit-card processor reported $2.75 EPS for the quarter, topping analysts’ consensus estimates of $2.66 by $0.09. Visa had a return on equity of 54.79% and a net margin of 54.27%. As a group, equities research analysts expect that Visa Inc. will post 11.3 earnings per share for the current year.

Visa Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, March 3rd. Investors of record on Tuesday, February 11th will be issued a dividend of $0.59 per share. This represents a $2.36 dividend on an annualized basis and a yield of 0.68%. The ex-dividend date of this dividend is Tuesday, February 11th. Visa’s dividend payout ratio (DPR) is 23.79%.

Insiders Place Their Bets

In other Visa news, General Counsel Julie B. Rottenberg sold 2,572 shares of the company’s stock in a transaction dated Monday, February 3rd. The stock was sold at an average price of $340.00, for a total transaction of $874,480.00. Following the sale, the general counsel now owns 11,925 shares in the company, valued at $4,054,500. This represents a 17.74 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CAO Peter M. Andreski sold 2,332 shares of Visa stock in a transaction dated Friday, February 7th. The shares were sold at an average price of $349.62, for a total value of $815,313.84. Following the completion of the transaction, the chief accounting officer now owns 4,488 shares of the company’s stock, valued at $1,569,094.56. The trade was a 34.19 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 55,885 shares of company stock worth $19,161,447 over the last three months. Company insiders own 0.13% of the company’s stock.

Visa 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.