Legacy Wealth Management LLC MS Sells 1,776 Shares of Visa Inc. $V

Legacy Wealth Management LLC MS lessened its holdings in shares of Visa Inc. (NYSE:V) by 10.0% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 15,954 shares of the credit-card processor’s stock after selling 1,776 shares during the period. Visa makes up about 1.7% of Legacy Wealth Management LLC MS’s portfolio, making the stock its 13th biggest holding. Legacy Wealth Management LLC MS’s holdings in Visa were worth $5,733,000 at the end of the most recent quarter.

Other institutional investors have also recently made changes to their positions in the company. Tucker Asset Management LLC purchased a new stake in Visa during the 3rd quarter worth approximately $204,000. VCI Wealth Management LLC increased its stake in Visa by 1.8% during the 3rd quarter. VCI Wealth Management LLC now owns 12,970 shares of the credit-card processor’s stock valued at $4,660,000 after purchasing an additional 229 shares in the last quarter. Gerber Kawasaki Wealth & Investment Management raised its holdings in shares of Visa by 6.9% in the third quarter. Gerber Kawasaki Wealth & Investment Management now owns 9,147 shares of the credit-card processor’s stock worth $3,287,000 after buying an additional 590 shares during the last quarter. GRIMES & Co WEALTH MANAGEMENT LLC raised its holdings in shares of Visa by 1.1% in the third quarter. GRIMES & Co WEALTH MANAGEMENT LLC now owns 51,196 shares of the credit-card processor’s stock worth $18,396,000 after buying an additional 571 shares during the last quarter. Finally, BOCHK Asset Management Ltd lifted its stake in shares of Visa by 42.3% during the third quarter. BOCHK Asset Management Ltd now owns 18,500 shares of the credit-card processor’s stock worth $6,648,000 after buying an additional 5,500 shares during the period. Institutional investors and hedge funds own 82.15% of the company’s stock.

Insiders Place Their Bets

In related news, CEO Ryan Mcinerney sold 5,875 shares of the stock in a transaction on Thursday, October 1st. The shares were sold at an average price of $358.81, for a total transaction of $2,108,008.75. Following the sale, the chief executive officer directly owned 15,174 shares of the company’s stock, valued at approximately $5,444,582.94. This represents a 27.91% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, General Counsel Julie Rottenberg sold 1,867 shares of the firm’s stock in a transaction on Wednesday, September 9th. The shares were sold at an average price of $368.34, for a total transaction of $687,690.78. Following the sale, the general counsel owned 18,404 shares in the company, valued at approximately $6,778,929.36. This represents a 9.21% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold 21,520 shares of company stock worth $7,960,757 over the last three months. 0.12% of the stock is currently owned by insiders.

Visa Stock Up 2.9%

Shares of V opened at $425.60 on Tuesday. The company has a market capitalization of $759.45 billion, a price-to-earnings ratio of 34.52, a PEG ratio of 1.88 and a beta of 0.77. Visa Inc. has a 52 week low of $293.89 and a 52 week high of $426.78. The stock’s 50-day moving average price is $382.40 and its 200-day moving average price is $342.74. The company has a quick ratio of 0.99, a current ratio of 0.97 and a debt-to-equity ratio of 0.54.

Visa (NYSE:V) last released its quarterly earnings data on Tuesday, October 27th. The credit-card processor reported $3.48 EPS for the quarter, topping the consensus estimate of $3.44 by $0.04. The business had revenue of $12.14 billion for the quarter, compared to analyst estimates of $12.09 billion. Visa had a return on equity of 70.50% and a net margin of 51.20%. The business’s quarterly revenue was up 13.2% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $2.98 EPS. On average, sell-side analysts predict that Visa Inc. will post 15.03 EPS for the current year.

Visa Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, December 1st. Investors of record on Tuesday, November 10th will be paid a $0.78 dividend. The ex-dividend date is Tuesday, November 10th. This represents a $3.12 annualized dividend and a dividend yield of 0.7%. This is an increase from Visa’s previous quarterly dividend of $0.67. Visa’s dividend payout ratio (DPR) is presently 21.74%.

Analyst Ratings Changes

A number of equities research analysts have recently weighed in on V shares. Robert W. Baird boosted their price objective on shares of Visa from $420.00 to $430.00 and gave the company an “outperform” rating in a report on Monday, October 12th. Mizuho set a $440.00 target price on Visa in a research note on Thursday. Piper Sandler reaffirmed an “overweight” rating and set a $479.00 price target (up from $430.00) on shares of Visa in a research report on Wednesday, October 28th. KeyCorp boosted their price target on Visa from $415.00 to $425.00 and gave the company an “overweight” rating in a research note on Wednesday, July 29th. Finally, Daiwa Securities Group boosted their price target on Visa from $375.00 to $422.00 and gave the company an “outperform” rating in a research note on Thursday, August 6th. Two research analysts have rated the stock with a Strong Buy rating and thirty-five have issued a Buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Buy” and an average price target of $440.03.

Visa News Roundup

Here are the key news stories impacting Visa this week:

• Positive Sentiment: Higher analyst target: Cantor Fitzgerald maintained an Overweight rating and raised its price target to $500, citing Visa’s strong fundamentals while highlighting the importance of monitoring its payments mix. Visa Stocks Rise 2.4% With Higher Cantor Target Facing a Payments-Mix Test
• Positive Sentiment: Zacks upgraded Visa to Rank #2, or Buy, reflecting growing confidence in its earnings prospects. The upgrade may encourage additional buying and supports the broader analyst-positive narrative. Visa Upgraded to Buy
• Positive Sentiment: Stablecoin adoption is expanding: Visa reported a surge in stablecoin use for business payments, offering a potential long-term growth avenue and reinforcing its role in emerging payment technologies. Visa Reports Surge in Stablecoin Use for Business Payments
• Positive Sentiment: Credit trends remain supportive: Recent big-bank results suggest consumers are managing credit-card debt relatively well, reducing concern that credit deterioration will hurt payment volumes. What the Big Banks’ Third-Quarter Reports Say About Credit Card Borrowers
• Neutral Sentiment: Visa is receiving substantial investor attention, while analysts are publishing updated expectations for its upcoming quarterly results. This may increase trading interest but does not itself change the company’s fundamentals. Investors Heavily Search Visa
• Negative Sentiment: Industry risks remain: Visa and other payment networks face higher technology costs and inflation pressure. Investors are also watching whether shifts in the payments mix and competition from alternative payment methods could constrain growth. Zacks Industry Outlook Highlights Visa and Payments Companies

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.