Legacy Financial Advisors Inc. Boosts Stock Position in Visa Inc. (NYSE:V)

Legacy Financial Advisors Inc. raised its position in shares of Visa Inc. (NYSE:V) by 8.3% during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 11,624 shares of the credit-card processor’s stock after purchasing an additional 886 shares during the quarter. Visa accounts for 0.6% of Legacy Financial Advisors Inc.’s portfolio, making the stock its 29th largest position. Legacy Financial Advisors Inc.’s holdings in Visa were worth $3,026,000 at the end of the most recent reporting period.

Several other large investors have also added to or reduced their stakes in the company. Sapient Capital LLC acquired a new position in shares of Visa in the 4th quarter valued at about $29,626,000. Axxcess Wealth Management LLC lifted its holdings in shares of Visa by 12.5% in the 4th quarter. Axxcess Wealth Management LLC now owns 57,287 shares of the credit-card processor’s stock valued at $14,915,000 after buying an additional 6,356 shares during the period. Power Wealth Management LLC acquired a new position in shares of Visa in the 4th quarter valued at about $200,000. Solano Wealth Management Inc. acquired a new position in shares of Visa in the 4th quarter valued at about $366,000. Finally, Alterna Wealth Management Inc. lifted its holdings in shares of Visa by 20.1% in the 4th quarter. Alterna Wealth Management Inc. now owns 4,177 shares of the credit-card processor’s stock valued at $1,087,000 after buying an additional 700 shares during the period. Hedge funds and other institutional investors own 82.15% of the company’s stock.

Analysts Set New Price Targets

A number of research firms recently weighed in on V. Robert W. Baird upped their price target on Visa from $314.00 to $320.00 and gave the stock an “outperform” rating in a report on Wednesday, April 17th. Evercore ISI upped their price target on Visa from $325.00 to $335.00 and gave the stock an “outperform” rating in a report on Tuesday, March 26th. Macquarie upped their price target on Visa from $290.00 to $300.00 and gave the stock an “outperform” rating in a report on Wednesday, April 24th. Barclays upped their price target on Visa from $304.00 to $319.00 and gave the stock an “overweight” rating in a report on Monday, January 29th. Finally, Redburn Atlantic reaffirmed a “neutral” rating and issued a $307.00 price target on shares of Visa in a report on Wednesday, March 27th. Five investment analysts have rated the stock with a hold rating and twenty have assigned a buy rating to the stock. According to MarketBeat.com, Visa has a consensus rating of “Moderate Buy” and a consensus price target of $303.00.

Insider Activity

In other news, Director Lloyd Carney sold 909 shares of the stock in a transaction on Friday, April 26th. The stock was sold at an average price of $275.55, for a total value of $250,474.95. Following the sale, the director now directly owns 2,591 shares in the company, valued at $713,950.05. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In other Visa news, Director Lloyd Carney sold 909 shares of the firm’s stock in a transaction on Friday, April 26th. The stock was sold at an average price of $275.55, for a total value of $250,474.95. Following the sale, the director now directly owns 2,591 shares in the company, valued at $713,950.05. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CAO Peter M. Andreski sold 2,615 shares of the firm’s stock in a transaction on Wednesday, February 7th. The shares were sold at an average price of $278.88, for a total value of $729,271.20. Following the completion of the sale, the chief accounting officer now owns 4,898 shares in the company, valued at $1,365,954.24. The disclosure for this sale can be found here. Over the last three months, insiders have sold 11,724 shares of company stock worth $3,278,698. Corporate insiders own 0.19% of the company’s stock.

Visa Trading Up 0.3 %

NYSE:V traded up $0.88 during trading hours on Friday, reaching $268.49. 3,862,018 shares of the stock were exchanged, compared to its average volume of 6,930,902. The company has a quick ratio of 1.40, a current ratio of 1.40 and a debt-to-equity ratio of 0.53. The business has a 50-day moving average of $278.17 and a two-hundred day moving average of $265.42. Visa Inc. has a twelve month low of $216.14 and a twelve month high of $290.96. The company has a market capitalization of $493.08 billion, a price-to-earnings ratio of 30.00, a PEG ratio of 1.84 and a beta of 0.95.

Visa (NYSE:V) last released its quarterly earnings results on Tuesday, April 23rd. The credit-card processor reported $2.51 EPS for the quarter, topping analysts’ consensus estimates of $2.43 by $0.08. Visa had a return on equity of 51.23% and a net margin of 53.87%. The company had revenue of $8.78 billion for the quarter, compared to analysts’ expectations of $8.62 billion. During the same period in the prior year, the firm earned $2.09 earnings per share. The firm’s revenue was up 9.9% compared to the same quarter last year. On average, equities analysts predict that Visa Inc. will post 9.94 EPS for the current year.

Visa Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, June 3rd. Stockholders of record on Friday, May 17th will be paid a $0.52 dividend. This represents a $2.08 annualized dividend and a dividend yield of 0.77%. The ex-dividend date is Thursday, May 16th. Visa’s payout ratio is currently 23.24%.

Visa 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.