Legacy Private Trust Co. Sells 48 Shares of Visa Inc. (NYSE:V)

Posted by Defense World Staff on Jun 24th, 2023

Legacy Private Trust Co. decreased its position in Visa Inc. (NYSE:V – Get Rating) by 0.6% in the 1st quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 8,274 shares of the credit-card processor’s stock after selling 48 shares during the quarter. Legacy Private Trust Co.’s holdings in Visa were worth $1,865,000 as of its most recent filing with the SEC.

Several other large investors have also made changes to their positions in the company. Global Wealth Strategies & Associates bought a new stake in Visa during the fourth quarter worth approximately $26,000. JDM Financial Group LLC bought a new stake in Visa during the fourth quarter worth approximately $29,000. McElhenny Sheffield Capital Management LLC bought a new stake in Visa during the fourth quarter worth approximately $31,000. Financial Freedom LLC bought a new stake in Visa during the fourth quarter worth approximately $32,000. Finally, St. James Investment Advisors LLC boosted its position in Visa by 58.7% during the fourth quarter. St. James Investment Advisors LLC now owns 219 shares of the credit-card processor’s stock worth $45,000 after purchasing an additional 81 shares during the period. Institutional investors own 84.92% of the company’s stock.

Visa Trading Up 0.5 %

Shares of Visa stock opened at $229.55 on Friday. Visa Inc. has a 52-week low of $174.60 and a 52-week high of $235.57. The stock’s 50-day simple moving average is $228.61 and its 200 day simple moving average is $223.07. The stock has a market capitalization of $430.02 billion, a P/E ratio of 30.69, a P/E/G ratio of 1.75 and a beta of 0.97. The company has a debt-to-equity ratio of 0.56, a quick ratio of 1.50 and a current ratio of 1.50.

Visa (NYSE:V – Get Rating) last posted its earnings results on Tuesday, April 25th. The credit-card processor reported $2.09 earnings per share for the quarter, beating analysts’ consensus estimates of $1.97 by $0.12. The business had revenue of $7.99 billion during the quarter, compared to analyst estimates of $7.79 billion. Visa had a return on equity of 50.21% and a net margin of 50.95%. The company’s quarterly revenue was up 11.1% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $1.79 EPS. As a group, research analysts anticipate that Visa Inc. will post 8.59 EPS for the current year.

Visa Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, June 1st. Stockholders of record on Friday, May 12th were issued a dividend of $0.45 per share. This represents a $1.80 annualized dividend and a dividend yield of 0.78%. The ex-dividend date of this dividend was Thursday, May 11th. Visa’s payout ratio is 24.06%.

Analyst Upgrades and Downgrades

A number of brokerages have issued reports on V. BMO Capital Markets upped their target price on Visa from $253.00 to $263.00 in a research report on Wednesday, April 26th. 22nd Century Group reaffirmed a “maintains” rating on shares of Visa in a research report on Wednesday, April 26th. Truist Financial increased their price objective on Visa from $260.00 to $270.00 in a research report on Wednesday, April 26th. Barclays increased their price objective on Visa from $270.00 to $272.00 in a research report on Monday, May 1st. Finally, StockNews.com initiated coverage on Visa in a research report on Thursday, May 18th. They issued a “buy” rating for the company. One analyst has rated the stock with a sell rating, two have given a hold rating and seventeen have assigned a buy rating to the company. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $260.08.

Insider Transactions at Visa

In other Visa news, CFO Vasant M. Prabhu sold 40,000 shares of the company’s stock in a transaction that occurred on Friday, April 28th. The stock was sold at an average price of $231.36, for a total value of $9,254,400.00. Following the completion of the sale, the chief financial officer now owns 73,638 shares of the company’s stock, valued at $17,036,887.68. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. In other Visa news, CFO Vasant M. Prabhu sold 40,000 shares of the business’s stock in a transaction that occurred on Friday, April 28th. The stock was sold at an average price of $231.36, for a total value of $9,254,400.00. Following the completion of the sale, the chief financial officer now owns 73,638 shares in the company, valued at $17,036,887.68. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Lloyd Carney sold 1,288 shares of the business’s stock in a transaction that occurred on Friday, April 28th. The shares were sold at an average price of $232.97, for a total value of $300,065.36. Following the completion of the sale, the director now owns 2,542 shares of the company’s stock, valued at approximately $592,209.74. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 116,277 shares of company stock valued at $27,018,374. 0.21% of the stock is owned by corporate insiders.

Visa Profile

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Visa Inc operates as a payments technology company worldwide. 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, click to pay; Visa Direct, a real-time payments network; Visa B2B Connect, a multilateral B2B cross-border payments network; Visa Treasury as a Service, a cross-border consumer payments business; 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.