Visa Inc. (NYSE:V) Shares Acquired by Legacy Private Trust Co.

Legacy Private Trust Co. lifted its position in Visa Inc. (NYSE:V) by 49.6% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 13,728 shares of the credit-card processor’s stock after purchasing an additional 4,550 shares during the period. Legacy Private Trust Co.’s holdings in Visa were worth $4,339,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also recently added to or reduced their stakes in the company. Custom Index Systems LLC acquired a new stake in Visa in the 3rd quarter valued at $731,000. Copley Financial Group Inc. acquired a new position in shares of Visa during the 3rd quarter worth about $616,000. FORA Capital LLC purchased a new position in Visa in the 3rd quarter valued at about $7,987,000. Chicago Capital LLC increased its stake in Visa by 5.2% during the 3rd quarter. Chicago Capital LLC now owns 404,914 shares of the credit-card processor’s stock worth $111,331,000 after buying an additional 20,023 shares in the last quarter. Finally, Nexus Investment Management ULC raised its holdings in shares of Visa by 5,034.0% during the third quarter. Nexus Investment Management ULC now owns 56,371 shares of the credit-card processor’s stock valued at $15,499,000 after acquiring an additional 55,273 shares during the last quarter. 82.15% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several analysts recently issued reports on V shares. Wells Fargo & Company upped their price objective on shares of Visa from $325.00 to $360.00 and gave the company an “overweight” rating in a research note on Friday, January 3rd. Mizuho lifted their price objective on Visa from $279.00 to $292.00 and gave the stock a “neutral” rating in a research report on Friday, November 1st. BMO Capital Markets upped their target price on Visa from $310.00 to $320.00 and gave the company an “outperform” rating in a report on Wednesday, October 30th. Morgan Stanley lifted their price target on Visa from $326.00 to $371.00 and gave the stock an “overweight” rating in a report on Wednesday, December 18th. Finally, Barclays increased their price target on shares of Visa from $319.00 to $347.00 and gave the company an “overweight” rating in a research note on Monday, November 4th. Four analysts have rated the stock with a hold rating, twenty-five have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $329.70.

Visa Stock Performance

Shares of V stock traded up $1.07 during midday trading on Wednesday, hitting $312.74. The company had a trading volume of 5,027,860 shares, compared to its average volume of 5,239,492. The stock has a market cap of $582.60 billion, a price-to-earnings ratio of 32.14, a PEG ratio of 2.11 and a beta of 0.96. The company has a debt-to-equity ratio of 0.55, a current ratio of 1.28 and a quick ratio of 1.28. The company’s 50 day simple moving average is $310.90 and its 200 day simple moving average is $286.27. 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 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.58 by $0.13. The business had revenue of $9.62 billion for the quarter, compared to analyst estimates of $9.49 billion. Visa had a net margin of 54.96% and a return on equity of 53.16%. The business’s revenue was up 11.7% compared to the same quarter last year. During the same period in the previous year, the business posted $2.33 earnings per share. Research analysts anticipate that Visa Inc. will post 11.23 earnings per share for the current fiscal year.

Visa Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, December 2nd. Stockholders of record on Tuesday, November 12th were issued a $0.59 dividend. This represents a $2.36 dividend on an annualized basis and a dividend yield of 0.75%. The ex-dividend date was Tuesday, November 12th. This is an increase from Visa’s previous quarterly dividend of $0.52. Visa’s dividend payout ratio (DPR) is currently 24.25%.

Insider Buying and Selling

In other news, CEO Ryan Mcinerney sold 8,620 shares of the firm’s stock in a transaction 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 Securities & Exchange Commission, which is accessible through this link. Also, insider Paul D. Fabara sold 2,171 shares of the stock in a transaction dated Friday, November 22nd. The shares were sold at an average price of $307.97, for a total transaction of $668,602.87. Following the completion of the sale, the insider now directly owns 17,894 shares in the company, valued at approximately $5,510,815.18. The trade was a 10.82 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.13% of the stock is owned by insiders.

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.