Visa Inc. (NYSE:V) is Legacy Trust’s 4th Largest Position

Posted by Defense World Staff on Jul 3rd, 2023

Legacy Trust increased its position in shares of Visa Inc. (NYSE:V – Free Report) by 0.9% during the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 39,741 shares of the credit-card processor’s stock after purchasing an additional 357 shares during the quarter. Visa makes up about 2.7% of Legacy Trust’s holdings, making the stock its 4th biggest position. Legacy Trust’s holdings in Visa were worth $8,960,000 at the end of the most recent reporting period.

A number of other institutional investors have also added to or reduced their stakes in V. Vanguard Group Inc. increased its holdings in Visa by 0.6% during the third quarter. Vanguard Group Inc. now owns 145,236,910 shares of the credit-card processor’s stock worth $25,801,337,000 after buying an additional 912,545 shares during the last quarter. Morgan Stanley grew its position in shares of Visa by 13.0% during the 4th quarter. Morgan Stanley now owns 51,122,866 shares of the credit-card processor’s stock valued at $10,621,287,000 after acquiring an additional 5,864,340 shares during the period. Price T Rowe Associates Inc. MD increased its stake in shares of Visa by 4.5% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 51,100,136 shares of the credit-card processor’s stock worth $10,616,564,000 after purchasing an additional 2,216,275 shares during the last quarter. Geode Capital Management LLC raised its holdings in shares of Visa by 2.0% in the 4th quarter. Geode Capital Management LLC now owns 32,221,146 shares of the credit-card processor’s stock worth $6,683,673,000 after purchasing an additional 640,839 shares during the period. Finally, Alliancebernstein L.P. raised its holdings in shares of Visa by 7.0% in the 3rd quarter. Alliancebernstein L.P. now owns 27,141,800 shares of the credit-card processor’s stock worth $4,821,741,000 after purchasing an additional 1,785,695 shares during the period. 84.92% of the stock is owned by institutional investors.

Visa Trading Up 1.3 %

Shares of V opened at $237.48 on Monday. Visa Inc. has a 1-year low of $174.60 and a 1-year high of $238.28. The company has a debt-to-equity ratio of 0.56, a current ratio of 1.50 and a quick ratio of 1.50. The company has a market capitalization of $444.88 billion, a P/E ratio of 31.75, a P/E/G ratio of 1.82 and a beta of 0.97. The firm’s 50 day simple moving average is $228.31 and its 200 day simple moving average is $223.95.

Visa (NYSE:V – Free Report) last issued its quarterly earnings results on Tuesday, April 25th. The credit-card processor reported $2.09 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.97 by $0.12. The firm 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 revenue was up 11.1% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.79 earnings per share. Sell-side analysts forecast that Visa Inc. will post 8.58 earnings per share for the current fiscal 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 paid a $0.45 dividend. The ex-dividend date was Thursday, May 11th. This represents a $1.80 dividend on an annualized basis and a dividend yield of 0.76%. Visa’s dividend payout ratio (DPR) is 24.06%.

Analyst Ratings Changes

A number of research firms have issued reports on V. Oppenheimer raised their target price on Visa from $237.00 to $248.00 and gave the stock an “outperform” rating in a research report on Wednesday, April 19th. KeyCorp lifted their price objective on Visa from $250.00 to $260.00 in a report on Monday, April 24th. Robert W. Baird upped their price objective on shares of Visa from $272.00 to $284.00 in a report on Wednesday, April 26th. BMO Capital Markets lifted their target price on shares of Visa from $253.00 to $263.00 in a research note on Wednesday, April 26th. Finally, Citigroup boosted their price target on shares of Visa from $270.00 to $273.00 in a research report on Wednesday, April 26th. One analyst has rated the stock with a sell rating, two have issued a hold rating and seventeen have given a buy rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $260.08.

Insider Activity at Visa

In other Visa news, CFO Vasant M. Prabhu sold 13,343 shares of the business’s stock in a transaction on Monday, May 1st. The shares were sold at an average price of $234.26, for a total value of $3,125,731.18. Following the completion of the sale, the chief financial officer now directly owns 73,638 shares of the company’s stock, valued at $17,250,437.88. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other Visa news, Director Lloyd Carney sold 1,288 shares of the stock in a transaction on Friday, April 28th. The shares were sold at an average price of $232.97, for a total transaction 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 sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CFO Vasant M. Prabhu sold 13,343 shares of the firm’s stock in a transaction on Monday, May 1st. The stock was sold at an average price of $234.26, for a total transaction of $3,125,731.18. Following the completion of the sale, the chief financial officer now directly owns 73,638 shares in the company, valued at approximately $17,250,437.88. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 116,277 shares of company stock valued at $27,018,374. Insiders own 0.21% of the company’s stock.

About Visa

(Free Report)

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.