1,386 Visa Inc. $V Shares Sold by Legacy CG LLC

Legacy CG LLC trimmed its holdings in Visa Inc. (NYSE:V) by 7.5% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 17,126 shares of the credit-card processor’s stock after selling 1,386 shares during the period. Visa makes up 1.6% of Legacy CG LLC’s investment portfolio, making the stock its 26th biggest holding. Legacy CG LLC’s holdings in Visa were worth $6,154,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also bought and sold shares of V. Beacon Capital Management LLC boosted its holdings in shares of Visa by 2.0% in the third quarter. Beacon Capital Management LLC now owns 1,283 shares of the credit-card processor’s stock worth $461,000 after acquiring an additional 25 shares during the period. Argyle Capital Partners LLC grew its position in shares of Visa by 0.7% in the third quarter. Argyle Capital Partners LLC now owns 3,912 shares of the credit-card processor’s stock valued at $1,406,000 after purchasing an additional 27 shares in the last quarter. Verus Financial Partners Inc. grew its position in shares of Visa by 3.7% in the third quarter. Verus Financial Partners Inc. now owns 752 shares of the credit-card processor’s stock valued at $270,000 after purchasing an additional 27 shares in the last quarter. Concorde Asset Management LLC raised its stake in shares of Visa by 4.0% during the 2nd quarter. Concorde Asset Management LLC now owns 728 shares of the credit-card processor’s stock valued at $250,000 after purchasing an additional 28 shares during the period. Finally, Ellis Investment Partners LLC raised its stake in shares of Visa by 2.1% during the 3rd quarter. Ellis Investment Partners LLC now owns 1,363 shares of the credit-card processor’s stock valued at $490,000 after purchasing an additional 28 shares during the period. Institutional investors own 82.15% of the company’s stock.

Insider Buying and Selling

In other Visa news, CEO Ryan Mcinerney sold 5,875 shares of the business’s stock in a transaction that occurred on Monday, November 2nd. The shares were sold at an average price of $416.22, for a total value of $2,445,292.50. Following the completion of the transaction, the chief executive officer owned 15,174 shares of the company’s stock, valued at $6,315,722.28. The trade was a 27.91% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, General Counsel Julie B. Rottenberg sold 1,867 shares of the stock in a transaction on Wednesday, September 9th. The stock was sold at an average price of $368.34, for a total transaction of $687,690.78. Following the completion of the transaction, the general counsel directly owned 18,404 shares in the company, valued at $6,778,929.36. The trade was a 9.21% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold 27,395 shares of company stock worth $10,406,050 over the last ninety days. 0.12% of the stock is currently owned by insiders.

More Visa News

Here are the key news stories impacting Visa this week:

• Positive Sentiment: Visa raised its quarterly dividend to $0.78 per share, alongside reported double-digit year-over-year growth in quarterly revenue and profit. These developments support the view that its payments business is growing while returning cash to shareholders. Read article: Will Earnings Beat Change Visa Stock’s Narrative
• Positive Sentiment: Visa signed partnerships in Hong Kong and Senegal to advance AI-enabled commerce and digital payments, potentially expanding its reach in fintech and financial inclusion. Read article: Visa Signs Two New Deals To Push AI Commerce And Digital Payments
• Positive Sentiment: Bill Ackman praised Visa alongside Mastercard and Netflix, while Cantor Fitzgerald maintained an Overweight rating and raised its price target to $500. Zacks also upgraded Visa to a Buy rating, citing earnings prospects. Read article: Ackman Calls Stock Market Broken but Touts Visa Read article: Visa Stocks Rise With Higher Cantor Target
• Neutral Sentiment: Former CEO Joseph Saunders, who led Visa’s 2008 IPO, has died. The reports describe his legacy but provide no indication of an operational or financial impact on the company. Read article: Former Visa CEO Joseph Saunders Dies
• Negative Sentiment: CEO Ryan McInerney sold 5,875 shares, reducing his position by about 28%. The sale was made under a pre-arranged Rule 10b5-1 plan, which moderates its significance as a signal about his outlook. Read SEC filing

Wall Street Analysts Forecast Growth

A number of analysts recently issued reports on V shares. Truist Financial set a $443.00 price objective on Visa and gave the stock a “buy” rating in a report on Friday, October 23rd. Susquehanna set a $480.00 target price on Visa and gave the company a “positive” rating in a report on Monday, October 26th. Clear Str upgraded Visa to a “strong-buy” rating in a research report on Thursday, July 16th. TD Cowen reissued a “buy” rating and issued a $450.00 price target (up from $420.00) on shares of Visa in a report on Wednesday, October 28th. Finally, Citigroup restated a “buy” rating and issued a $440.00 price objective (up from $400.00) on shares of Visa in a research report on Wednesday, July 29th. Two investment analysts have rated the stock with a Strong Buy rating and thirty-five have given a Buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Buy” and an average target price of $440.03.

Visa Stock Performance

NYSE:V opened at $420.27 on Wednesday. The business’s 50-day moving average price is $383.16 and its two-hundred day moving average price is $343.20. Visa Inc. has a twelve month low of $293.89 and a twelve month high of $426.78. The stock has a market cap of $749.95 billion, a P/E ratio of 34.09, a PEG ratio of 1.81 and a beta of 0.80. The company has a quick ratio of 0.99, a current ratio of 0.97 and a debt-to-equity ratio of 0.54.

Visa (NYSE:V) last issued its quarterly earnings results on Tuesday, October 27th. The credit-card processor reported $3.48 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.44 by $0.04. Visa had a return on equity of 70.50% and a net margin of 51.20%. The firm had revenue of $12.14 billion during the quarter, compared to the consensus estimate of $12.09 billion. During the same quarter last year, the company posted $2.98 EPS. The company’s revenue for the quarter was up 13.2% on a year-over-year basis. As a group, equities analysts predict that Visa Inc. will post 15.03 EPS for the current fiscal year.

Visa Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, December 1st. Investors of record on Tuesday, November 10th will be paid a $0.78 dividend. This is an increase from Visa’s previous quarterly dividend of $0.67. This represents a $3.12 dividend on an annualized basis and a yield of 0.7%. The ex-dividend date of this dividend is Tuesday, November 10th. Visa’s payout ratio is 21.74%.

About Visa

Visa Inc (NYSE: V) is a global payments technology company that facilitates electronic payments between consumers, businesses, financial institutions and governments. Through its VisaNet network, the company authorizes, clears and settles transactions made with Visa-branded credit, debit and prepaid cards, while generally not issuing cards, extending credit or setting cardholder account terms.

Visa provides payment products and services for consumer, commercial and government payments, as well as digital commerce and money movement.