Legacy Solutions LLC Purchases New Stake in Visa Inc. (NYSE:V)

Legacy Solutions LLC purchased a new position in Visa Inc. (NYSE:V) during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm purchased 1,125 shares of the credit-card processor’s stock, valued at approximately $356,000.

A number of other hedge funds have also recently modified their holdings of the company. Swedbank AB raised its holdings in Visa by 10.7% in the 3rd quarter. Swedbank AB now owns 2,059,111 shares of the credit-card processor’s stock worth $566,153,000 after purchasing an additional 199,440 shares in the last quarter. Howard Capital Management Group LLC raised its stake in Visa by 0.6% in the third quarter. Howard Capital Management Group LLC now owns 106,355 shares of the credit-card processor’s stock worth $29,242,000 after buying an additional 610 shares in the last quarter. Monte Financial Group LLC raised its stake in Visa by 2.9% in the third quarter. Monte Financial Group LLC now owns 5,567 shares of the credit-card processor’s stock worth $1,531,000 after buying an additional 155 shares in the last quarter. RAM Investment Partners LLC lifted its holdings in Visa by 3.5% in the third quarter. RAM Investment Partners LLC now owns 1,904 shares of the credit-card processor’s stock worth $524,000 after buying an additional 64 shares during the period. Finally, McAdam LLC boosted its position in Visa by 2.9% during the 3rd quarter. McAdam LLC now owns 3,345 shares of the credit-card processor’s stock valued at $920,000 after acquiring an additional 95 shares in the last quarter. Hedge funds and other institutional investors own 82.15% of the company’s stock.

Insiders Place Their Bets

In other news, CEO Ryan Mcinerney sold 8,620 shares of Visa stock in a transaction on Thursday, January 2nd. The shares were sold at an average price of $317.78, for a total transaction of $2,739,263.60. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, General Counsel Julie B. Rottenberg sold 2,572 shares of the business’s stock in a transaction on Monday, February 3rd. The shares were sold at an average price of $340.00, for a total transaction of $874,480.00. Following the sale, the general counsel now directly owns 11,925 shares of the company’s stock, valued at approximately $4,054,500. The trade was a 17.74 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 55,885 shares of company stock valued at $19,161,447. Insiders own 0.13% of the company’s stock.

Visa Stock Down 0.6 %

V opened at $348.27 on Friday. The stock has a market capitalization of $647.01 billion, a price-to-earnings ratio of 35.11, a PEG ratio of 2.36 and a beta of 0.97. The firm has a 50 day moving average price of $329.14 and a 200-day moving average price of $302.03. Visa Inc. has a twelve month low of $252.70 and a twelve month high of $357.15. The company has a quick ratio of 1.12, a current ratio of 1.12 and a debt-to-equity ratio of 0.45.

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

Visa Dividend Announcement

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

Wall Street Analysts Forecast Growth

Several brokerages have recently issued reports on V. Macquarie increased their target price on Visa from $300.00 to $335.00 and gave the stock an “outperform” rating in a research report on Wednesday, October 30th. The Goldman Sachs Group increased their price objective on Visa from $346.00 to $384.00 and gave the stock a “buy” rating in a report on Friday, January 31st. UBS Group boosted their target price on shares of Visa from $350.00 to $400.00 and gave the company a “buy” rating in a report on Friday, January 31st. Jefferies Financial Group increased their price target on shares of Visa from $320.00 to $330.00 and gave the stock a “buy” rating in a research note on Wednesday, October 30th. Finally, Citigroup lifted their price target on shares of Visa from $354.00 to $393.00 and gave the company a “buy” rating in a research report on Friday, January 31st. Four investment analysts have rated the stock with a hold rating, twenty-five have given a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, Visa has an average rating of “Moderate Buy” and a consensus target price of $355.31.

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.