My Legacy Advisors LLC Sells 229 Shares of Visa Inc. (NYSE:V)

My Legacy Advisors LLC decreased its position in shares of Visa Inc. (NYSE:V) by 3.2% in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 6,921 shares of the credit-card processor’s stock after selling 229 shares during the quarter. My Legacy Advisors LLC’s holdings in Visa were worth $2,189,000 as of its most recent SEC filing.

Several other hedge funds have also recently added to or reduced their stakes in the company. Decker Retirement Planning Inc. bought a new stake in shares of Visa in the 4th quarter valued at $26,000. Peterson Financial Group Inc. bought a new stake in shares of Visa in the 3rd quarter valued at $26,000. Modus Advisors LLC bought a new stake in shares of Visa in the 4th quarter valued at $32,000. Reston Wealth Management LLC bought a new stake in shares of Visa in the 3rd quarter valued at $31,000. Finally, West Financial Advisors LLC increased its stake in shares of Visa by 101.4% in the 3rd quarter. West Financial Advisors LLC now owns 145 shares of the credit-card processor’s stock valued at $40,000 after acquiring an additional 73 shares in the last quarter. Institutional investors own 82.15% of the company’s stock.

Insider Transactions at Visa

In other Visa news, insider Paul D. Fabara sold 2,171 shares of the stock in a transaction that occurred on Friday, November 22nd. The shares were sold at an average price of $307.97, for a total transaction of $668,602.87. Following the transaction, the insider now directly owns 17,894 shares in the company, valued at $5,510,815.18. This trade represents a 10.82 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Ryan Mcinerney sold 8,620 shares of the stock in a transaction that occurred on Thursday, January 2nd. The shares were sold at an average price of $317.78, for a total transaction of $2,739,263.60. The disclosure for this sale can be found here. Insiders own 0.13% of the company’s stock.

Analysts Set New Price Targets

A number of analysts have commented on the stock. Barclays boosted 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. Morgan Stanley boosted their price target on shares of Visa from $326.00 to $371.00 and gave the company an “overweight” rating in a research note on Wednesday, December 18th. Royal Bank of Canada boosted their price target on shares of Visa from $311.00 to $322.00 and gave the company an “outperform” rating in a research note on Wednesday, October 30th. Monness Crespi & Hardt restated a “neutral” rating on shares of Visa in a research note on Tuesday, September 24th. Finally, TD Cowen boosted their price target on shares of Visa from $318.00 to $325.00 and gave the company a “buy” rating in a research note on Wednesday, October 30th. Four equities research analysts have rated the stock with a hold rating, twenty-four have assigned a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat, Visa has an average rating of “Moderate Buy” and an average target price of $331.92.

Visa Price Performance

NYSE V opened at $319.97 on Tuesday. The company has a market cap of $596.06 billion, a PE ratio of 32.88, a price-to-earnings-growth ratio of 2.06 and a beta of 0.96. Visa Inc. has a 52 week low of $252.70 and a 52 week high of $321.61. The company has a quick ratio of 1.28, a current ratio of 1.28 and a debt-to-equity ratio of 0.55. The firm’s 50-day simple moving average is $313.41 and its two-hundred day simple moving average is $288.73.

Visa (NYSE:V) last released its quarterly earnings data on Tuesday, October 29th. The credit-card processor reported $2.71 EPS for the quarter, beating the consensus estimate of $2.58 by $0.13. The business had revenue of $9.62 billion for the quarter, compared to the consensus estimate of $9.49 billion. Visa had a net margin of 54.96% and a return on equity of 53.16%. The company’s revenue was up 11.7% compared to the same quarter last year. During the same period in the prior year, the firm earned $2.33 earnings per share. Research analysts predict that Visa Inc. will post 11.22 earnings per share for the current year.

Visa Increases Dividend

The company 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 0.74%. This is an increase from Visa’s previous quarterly dividend of $0.52. The ex-dividend date of this dividend was Tuesday, November 12th. Visa’s dividend payout ratio is presently 24.25%.

About Visa

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.