Legacy Wealth Management LLC MS Sells 1,783 Shares of Visa Inc. (NYSE:V)

Legacy Wealth Management LLC MS reduced its holdings in shares of Visa Inc. (NYSE:V) by 6.5% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 25,491 shares of the credit-card processor’s stock after selling 1,783 shares during the quarter. Visa accounts for about 3.2% of Legacy Wealth Management LLC MS’s holdings, making the stock its 6th biggest position. Legacy Wealth Management LLC MS’s holdings in Visa were worth $8,056,000 as of its most recent SEC filing.

A number of other hedge funds have also recently made changes to their positions in V. Unionview LLC raised its holdings in shares of Visa by 1.5% in the third quarter. Unionview LLC now owns 2,296 shares of the credit-card processor’s stock valued at $631,000 after purchasing an additional 33 shares during the last quarter. FWG Holdings LLC lifted its holdings in Visa by 1.1% during the third quarter. FWG Holdings LLC now owns 3,168 shares of the credit-card processor’s stock worth $900,000 after acquiring an additional 34 shares during the period. St. Louis Trust Co boosted its position in Visa by 0.9% in the third quarter. St. Louis Trust Co now owns 3,885 shares of the credit-card processor’s stock worth $1,068,000 after purchasing an additional 34 shares during the last quarter. Menard Financial Group LLC boosted its position in Visa by 0.6% in the third quarter. Menard Financial Group LLC now owns 6,217 shares of the credit-card processor’s stock worth $1,709,000 after purchasing an additional 35 shares during the last quarter. Finally, KMG Fiduciary Partners LLC increased its position in shares of Visa by 0.3% during the 3rd quarter. KMG Fiduciary Partners LLC now owns 13,933 shares of the credit-card processor’s stock valued at $3,831,000 after purchasing an additional 37 shares during the last quarter. 82.15% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at Visa

In other Visa news, CEO Ryan Mcinerney sold 8,620 shares of Visa stock in a transaction that occurred on Thursday, January 2nd. The stock was sold at an average price of $317.78, for a total value of $2,739,263.60. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, insider Paul D. Fabara sold 2,171 shares of the stock in a transaction that occurred on Friday, November 22nd. The shares were sold at an average price of $307.97, for a total value of $668,602.87. Following the sale, the insider now directly owns 17,894 shares of the company’s stock, valued at approximately $5,510,815.18. This trade represents a 10.82 % decrease in their position. The disclosure for this sale can be found here. Company insiders own 0.13% of the company’s stock.

Visa Price Performance

Shares of V stock traded down $1.58 during trading on Monday, hitting $313.33. The company had a trading volume of 833,202 shares, compared to its average volume of 3,308,660. The stock’s 50-day moving average is $309.73 and its two-hundred day moving average is $285.76. The stock has a market capitalization of $583.69 billion, a price-to-earnings ratio of 32.20, a price-to-earnings-growth ratio of 2.11 and a beta of 0.96. The company has a quick ratio of 1.28, a current ratio of 1.28 and a debt-to-equity ratio of 0.55. Visa Inc. has a 52 week low of $252.70 and a 52 week high of $321.61.

Visa (NYSE:V) last issued its quarterly earnings results on Tuesday, October 29th. The credit-card processor reported $2.71 EPS for the quarter, topping analysts’ consensus estimates of $2.58 by $0.13. Visa had a net margin of 54.96% and a return on equity of 53.16%. The firm had revenue of $9.62 billion for the quarter, compared to analyst estimates of $9.49 billion. During the same quarter in the prior year, the firm earned $2.33 EPS. The business’s revenue for the quarter was up 11.7% compared to the same quarter last year. As a group, analysts predict that Visa Inc. will post 11.23 EPS for the current fiscal year.

Visa Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, December 2nd. Shareholders of record on Tuesday, November 12th were paid a $0.59 dividend. The ex-dividend date of this dividend was Tuesday, November 12th. This represents a $2.36 annualized dividend and a yield of 0.75%. This is a positive change from Visa’s previous quarterly dividend of $0.52. Visa’s dividend payout ratio is currently 24.25%.

Analyst Upgrades and Downgrades

V has been the topic of a number of research analyst reports. Susquehanna boosted their price target on shares of Visa from $339.00 to $375.00 and gave the stock a “positive” rating in a report on Wednesday, December 11th. Royal Bank of Canada raised their price target on shares of Visa from $311.00 to $322.00 and gave the stock an “outperform” rating in a research note on Wednesday, October 30th. Oppenheimer upped their price objective on Visa from $321.00 to $375.00 and gave the company an “outperform” rating in a research note on Thursday, December 19th. BMO Capital Markets raised their target price on Visa from $310.00 to $320.00 and gave the stock an “outperform” rating in a research report on Wednesday, October 30th. Finally, Piper Sandler upped their price target on Visa from $319.00 to $322.00 and gave the company an “overweight” rating in a research report on Wednesday, October 30th. Four investment analysts have rated the stock with a hold rating, twenty-five have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, Visa has a consensus rating of “Moderate Buy” and an average price target of $329.70.

Visa Company 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.