Visa Inc. (NYSE:V) Shares Bought by Legacy Financial Strategies LLC

Legacy Financial Strategies LLC lifted its holdings in shares of Visa Inc. (NYSE:V) by 27.8% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 1,008 shares of the credit-card processor’s stock after buying an additional 219 shares during the period. Legacy Financial Strategies LLC’s holdings in Visa were worth $277,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Westend Capital Management LLC acquired a new position in Visa during the 1st quarter valued at about $25,000. POM Investment Strategies LLC lifted its position in Visa by 970.0% in the second quarter. POM Investment Strategies LLC now owns 107 shares of the credit-card processor’s stock worth $28,000 after purchasing an additional 97 shares during the period. TruNorth Capital Management LLC increased its position in shares of Visa by 211.9% during the 2nd quarter. TruNorth Capital Management LLC now owns 131 shares of the credit-card processor’s stock valued at $34,000 after purchasing an additional 89 shares during the period. Bbjs Financial Advisors LLC bought a new stake in shares of Visa in the 2nd quarter worth $35,000. Finally, CarsonAllaria Wealth Management Ltd. acquired a new stake in shares of Visa in the second quarter valued at $35,000. 82.15% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other news, CEO Ryan Mcinerney sold 8,620 shares of the stock in a transaction dated Tuesday, September 3rd. The stock was sold at an average price of $276.37, for a total transaction of $2,382,309.40. Following the transaction, the chief executive officer now owns 538 shares of the company’s stock, valued at approximately $148,687.06. This represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Company insiders own 0.19% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages have commented on V. Evercore ISI dropped their price target on shares of Visa from $335.00 to $330.00 and set an “outperform” rating on the stock in a research report on Tuesday, June 25th. Piper Sandler dropped their target price on shares of Visa from $322.00 to $319.00 and set an “overweight” rating on the stock in a report on Wednesday, July 24th. Citigroup reduced their target price on shares of Visa from $321.00 to $319.00 and set a “buy” rating for the company in a report on Wednesday, July 24th. Macquarie reaffirmed an “outperform” rating and issued a $300.00 price target on shares of Visa in a report on Friday, September 27th. Finally, Morgan Stanley reiterated an “overweight” rating and set a $322.00 price objective on shares of Visa in a research report on Wednesday, September 25th. Four analysts have rated the stock with a hold rating, twenty-three have assigned a buy rating and two have given a strong buy rating to the company. According to data from MarketBeat, Visa presently has a consensus rating of “Moderate Buy” and an average target price of $314.19.

Visa Stock Performance

Shares of V stock opened at $290.62 on Friday. Visa Inc. has a fifty-two week low of $228.03 and a fifty-two week high of $293.07. The stock’s 50-day moving average is $276.91 and its two-hundred day moving average is $272.91. The company has a debt-to-equity ratio of 0.54, a current ratio of 1.37 and a quick ratio of 1.37. The firm has a market cap of $531.53 billion, a P/E ratio of 32.47, a PEG ratio of 1.94 and a beta of 0.96.

Visa (NYSE:V) last released its quarterly earnings data on Tuesday, July 23rd. The credit-card processor reported $2.42 EPS for the quarter, hitting analysts’ consensus estimates of $2.42. The firm had revenue of $8.90 billion for the quarter, compared to the consensus estimate of $8.92 billion. Visa had a return on equity of 51.94% and a net margin of 54.72%. The firm’s revenue was up 9.6% on a year-over-year basis. During the same quarter in the prior year, the company posted $2.16 earnings per share. Analysts predict that Visa Inc. will post 9.92 earnings per share for the current fiscal year.

Visa Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, September 3rd. Investors of record on Friday, August 9th were paid a $0.52 dividend. This represents a $2.08 annualized dividend and a dividend yield of 0.72%. The ex-dividend date was Friday, August 9th. Visa’s payout ratio is presently 23.24%.

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.