Legacy Wealth Planning LLC Purchases New Stake in Visa Inc (NYSE:V)

Legacy Wealth Planning LLC purchased a new stake in Visa Inc (NYSE:V) during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm purchased 1,230 shares of the credit-card processor’s stock, valued at approximately $238,000.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Emerald Advisors LLC raised its stake in shares of Visa by 2.1% during the second quarter. Emerald Advisors LLC now owns 2,428 shares of the credit-card processor’s stock valued at $469,000 after purchasing an additional 51 shares during the period. BEAM Asset Management LLC boosted its holdings in Visa by 2.0% in the second quarter. BEAM Asset Management LLC now owns 2,654 shares of the credit-card processor’s stock worth $525,000 after purchasing an additional 52 shares during the period. Perennial Investment Advisors LLC boosted its holdings in Visa by 2.6% in the second quarter. Perennial Investment Advisors LLC now owns 2,023 shares of the credit-card processor’s stock worth $391,000 after purchasing an additional 52 shares during the period. Trellis Advisors LLC lifted its stake in Visa by 2.2% in the second quarter. Trellis Advisors LLC now owns 2,419 shares of the credit-card processor’s stock valued at $467,000 after buying an additional 52 shares during the last quarter. Finally, Atlas Private Wealth Management lifted its stake in Visa by 0.6% in the second quarter. Atlas Private Wealth Management now owns 9,459 shares of the credit-card processor’s stock valued at $1,827,000 after buying an additional 53 shares during the last quarter. Hedge funds and other institutional investors own 80.74% of the company’s stock.

In related news, Director Lloyd Carney sold 1,550 shares of the business’s stock in a transaction that occurred on Tuesday, August 4th. The stock was sold at an average price of $192.64, for a total value of $298,592.00. Following the completion of the sale, the director now directly owns 2,962 shares in the company, valued at approximately $570,599.68. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CEO Alfred F. Kelly, Jr. sold 7,000 shares of the business’s stock in a transaction that occurred on Thursday, July 30th. The stock was sold at an average price of $195.00, for a total value of $1,365,000.00. Following the completion of the sale, the chief executive officer now owns 130,090 shares of the company’s stock, valued at $25,367,550. The disclosure for this sale can be found here. In the last three months, insiders sold 118,122 shares of company stock valued at $24,683,231. 0.19% of the stock is currently owned by company insiders.

A number of equities research analysts have issued reports on the company. Daiwa Capital Markets reiterated a “neutral” rating and issued a $204.00 target price on shares of Visa in a research note on Tuesday, July 21st. Piper Sandler raised their target price on Visa from $200.00 to $206.00 and gave the company a “neutral” rating in a research note on Wednesday, July 29th. Raymond James raised their target price on Visa from $204.00 to $217.00 and gave the company an “outperform” rating in a research note on Wednesday, July 29th. SunTrust Banks lifted their price objective on shares of Visa from $200.00 to $220.00 and gave the company a “buy” rating in a research note on Tuesday, June 2nd. Finally, Morgan Stanley lifted their price objective on shares of Visa from $196.00 to $203.00 and gave the company an “overweight” rating in a research note on Tuesday, July 28th. Seven investment analysts have rated the stock with a hold rating and twenty-four have issued a buy rating to the company’s stock. Visa presently has a consensus rating of “Buy” and an average price target of $212.28.

NYSE:V traded down $0.86 on Friday, hitting $200.68. 7,438,646 shares of the company’s stock traded hands, compared to its average volume of 10,539,540. The company has a current ratio of 1.55, a quick ratio of 1.55 and a debt-to-equity ratio of 0.59. Visa Inc has a 1 year low of $133.93 and a 1 year high of $217.35. The firm has a 50-day moving average price of $201.21 and a 200-day moving average price of $186.70. The company has a market cap of $396.36 billion, a PE ratio of 38.22, a price-to-earnings-growth ratio of 3.10 and a beta of 0.90.

Visa (NYSE:V) last announced its quarterly earnings results on Tuesday, July 28th. The credit-card processor reported $1.07 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $1.02 by $0.05. The business had revenue of $4.84 billion during the quarter, compared to analysts’ expectations of $4.85 billion. Visa had a return on equity of 40.65% and a net margin of 51.37%. The firm’s quarterly revenue was down 18.6% compared to the same quarter last year. During the same quarter in the previous year, the business posted $1.37 EPS. On average, research analysts forecast that Visa Inc will post 5.01 EPS for the current fiscal year.

The company also recently declared a quarterly dividend, which was paid on Tuesday, September 1st. Investors of record on Friday, August 14th were paid a $0.30 dividend. The ex-dividend date was Thursday, August 13th. This represents a $1.20 annualized dividend and a dividend yield of 0.60%. Visa’s payout ratio is 22.06%.

Visa Profile

Visa Inc operates as a payments technology company worldwide. The company facilitates commerce through the transfer of value and information among consumers, merchants, financial institutions, businesses, strategic partners, and government entities. It operates VisaNet, a processing network that enables authorization, clearing, and settlement of payment transactions; and offers fraud protection for account holders and assured payment for merchants.

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Institutional Ownership by Quarter for Visa (NYSE:V)

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