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

Legacy Private Trust Co. lowered its stake in shares of Visa Inc. (NYSE:V) by 0.9% in the second quarter, Holdings Channel reports. The institutional investor owned 8,201 shares of the credit-card processor’s stock after selling 73 shares during the quarter. Legacy Private Trust Co.’s holdings in Visa were worth $1,948,000 as of its most recent SEC filing.

Other hedge funds have also made changes to their positions in the company. Radnor Capital Management LLC boosted its holdings in Visa by 15.7% in the second quarter. Radnor Capital Management LLC now owns 9,555 shares of the credit-card processor’s stock worth $2,269,000 after purchasing an additional 1,300 shares during the period. Grandview Asset Management LLC boosted its holdings in Visa by 9.6% in the second quarter. Grandview Asset Management LLC now owns 6,227 shares of the credit-card processor’s stock worth $1,479,000 after purchasing an additional 548 shares during the period. Woodstock Corp lifted its stake in Visa by 8.8% in the second quarter. Woodstock Corp now owns 34,614 shares of the credit-card processor’s stock valued at $8,220,000 after buying an additional 2,812 shares during the last quarter. Indiana Trust & Investment Management CO lifted its stake in Visa by 0.8% in the second quarter. Indiana Trust & Investment Management CO now owns 8,861 shares of the credit-card processor’s stock valued at $2,104,000 after buying an additional 70 shares during the last quarter. Finally, Nexus Investment Management ULC lifted its stake in Visa by 9.8% in the second quarter. Nexus Investment Management ULC now owns 1,098 shares of the credit-card processor’s stock valued at $261,000 after buying an additional 98 shares during the last quarter. Institutional investors and hedge funds own 81.35% of the company’s stock.

Analyst Ratings Changes

A number of research firms have issued reports on V. Wells Fargo & Company raised their target price on Visa from $265.00 to $270.00 and gave the company an “overweight” rating in a research note on Wednesday, July 26th. Truist Financial lifted their price objective on shares of Visa from $270.00 to $275.00 in a research note on Wednesday, July 26th. StockNews.com began coverage on shares of Visa in a research note on Thursday, August 17th. They set a “buy” rating on the stock. Jefferies Financial Group boosted their price target on shares of Visa from $270.00 to $280.00 and gave the stock a “buy” rating in a research report on Wednesday, July 19th. Finally, Bank of America boosted their price target on shares of Visa from $270.00 to $275.00 in a research report on Tuesday, July 18th. One investment analyst has rated the stock with a sell rating, one has given a hold rating and sixteen have issued a buy rating to the company. Based on data from MarketBeat, Visa presently has a consensus rating of “Moderate Buy” and an average target price of $273.77.

Visa Trading Down 0.2 %

Shares of NYSE V opened at $241.00 on Friday. The stock has a market cap of $448.70 billion, a price-to-earnings ratio of 30.58, a PEG ratio of 1.81 and a beta of 0.95. The business has a 50 day simple moving average of $241.58 and a 200 day simple moving average of $232.04. Visa Inc. has a 52 week low of $174.60 and a 52 week high of $250.06. The company has a debt-to-equity ratio of 0.55, a quick ratio of 1.49 and a current ratio of 1.49.

Visa (NYSE:V) last posted its earnings results on Tuesday, July 25th. The credit-card processor reported $2.16 earnings per share for the quarter, topping the consensus estimate of $2.11 by $0.05. Visa had a return on equity of 49.42% and a net margin of 51.94%. The firm had revenue of $8.12 billion during the quarter, compared to analyst estimates of $8.06 billion. During the same period in the previous year, the company earned $1.98 EPS. The company’s revenue for the quarter was up 11.7% on a year-over-year basis. On average, research analysts predict that Visa Inc. will post 8.65 earnings per share for the current fiscal year.

Visa Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, September 1st. Investors of record on Friday, August 11th were issued a $0.45 dividend. The ex-dividend date was Thursday, August 10th. This represents a $1.80 annualized dividend and a yield of 0.75%. Visa’s dividend payout ratio (DPR) is currently 22.84%.

Insider Buying and Selling

In other news, insider Rajat Taneja sold 15,800 shares of the company’s stock in a transaction that occurred on Wednesday, September 13th. The stock was sold at an average price of $250.01, for a total transaction of $3,950,158.00. Following the completion of the transaction, the insider now directly owns 232,112 shares in the company, valued at $58,030,321.12. The sale was disclosed in a filing with the SEC, which can be accessed through this link. In other news, CEO Ryan Mcinerney sold 425 shares of the business’s stock in a transaction that occurred on Tuesday, July 11th. The stock was sold at an average price of $240.00, for a total transaction of $102,000.00. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Rajat Taneja sold 15,800 shares of the business’s stock in a transaction that occurred on Wednesday, September 13th. The shares were sold at an average price of $250.01, for a total value of $3,950,158.00. Following the sale, the insider now owns 232,112 shares in the company, valued at $58,030,321.12. The disclosure for this sale can be found here. In the last ninety days, insiders sold 81,550 shares of company stock worth $19,795,806. 0.22% of the stock is currently owned by insiders.

Visa Company Profile

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.