Legacy Wealth Management LLC MS Acquires 655 Shares of Visa Inc. (NYSE:V)

Legacy Wealth Management LLC MS boosted its holdings in shares of Visa Inc. (NYSE:V) by 2.5% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 27,274 shares of the credit-card processor’s stock after acquiring an additional 655 shares during the period. Visa makes up approximately 2.8% of Legacy Wealth Management LLC MS’s investment portfolio, making the stock its 7th largest holding. Legacy Wealth Management LLC MS’s holdings in Visa were worth $7,499,000 at the end of the most recent quarter.

A number of other hedge funds also recently modified their holdings of V. Verde Capital Management raised its holdings in shares of Visa by 44.5% in the second quarter. Verde Capital Management now owns 1,947 shares of the credit-card processor’s stock valued at $511,000 after purchasing an additional 600 shares during the last quarter. Cordatus Wealth Management LLC boosted its holdings in shares of Visa by 0.9% in the 2nd quarter. Cordatus Wealth Management LLC now owns 10,885 shares of the credit-card processor’s stock valued at $2,857,000 after buying an additional 92 shares during the last quarter. Winthrop Advisory Group LLC increased its holdings in Visa by 2.8% during the second quarter. Winthrop Advisory Group LLC now owns 9,180 shares of the credit-card processor’s stock worth $2,409,000 after buying an additional 247 shares during the last quarter. JLB & Associates Inc. raised its position in Visa by 2.0% during the second quarter. JLB & Associates Inc. now owns 10,495 shares of the credit-card processor’s stock worth $2,755,000 after acquiring an additional 205 shares in the last quarter. Finally, Hayek Kallen Investment Management lifted its stake in Visa by 0.9% in the second quarter. Hayek Kallen Investment Management now owns 21,763 shares of the credit-card processor’s stock valued at $5,712,000 after acquiring an additional 192 shares during the last quarter. Institutional investors and hedge funds own 82.15% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently weighed in on the company. Oppenheimer restated an “outperform” rating and issued a $321.00 price target (up previously from $318.00) on shares of Visa in a research note on Wednesday, October 30th. Macquarie lifted their target price on shares of Visa from $300.00 to $335.00 and gave the stock an “outperform” rating in a report on Wednesday, October 30th. Jefferies Financial Group increased their price target on shares of Visa from $320.00 to $330.00 and gave the company a “buy” rating in a report on Wednesday, October 30th. Morgan Stanley boosted their price objective on Visa from $322.00 to $326.00 and gave the stock an “overweight” rating in a report on Wednesday, October 30th. Finally, Robert W. Baird lifted their price target on Visa from $330.00 to $340.00 and gave the stock an “outperform” rating in a report on Wednesday, October 30th. Four research analysts have rated the stock with a hold rating, twenty-five have given a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, Visa presently has a consensus rating of “Moderate Buy” and an average target price of $324.74.

Visa Trading Up 0.3 %

Visa stock traded up $1.07 during mid-day trading on Friday, hitting $315.30. 885,803 shares of the stock were exchanged, compared to its average volume of 6,868,554. The firm’s fifty day simple moving average is $298.56 and its two-hundred day simple moving average is $280.71. The company has a quick ratio of 1.28, a current ratio of 1.28 and a debt-to-equity ratio of 0.55. Visa Inc. has a 12 month low of $252.70 and a 12 month high of $317.42. The stock has a market capitalization of $587.37 billion, a price-to-earnings ratio of 32.29, a PEG ratio of 2.11 and a beta of 0.96.

Visa (NYSE:V) last announced its quarterly earnings data on Tuesday, October 29th. The credit-card processor reported $2.71 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.58 by $0.13. Visa had a return on equity of 53.16% and a net margin of 54.96%. The company had revenue of $9.62 billion for the quarter, compared to the consensus estimate of $9.49 billion. During the same period in the previous year, the business earned $2.33 EPS. The firm’s revenue was up 11.7% compared to the same quarter last year. Analysts forecast that Visa Inc. will post 11.19 EPS for the current year.

Visa Increases Dividend

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

Insider Activity at Visa

In other news, insider Paul D. Fabara sold 2,171 shares of Visa 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 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 filing with the Securities & Exchange Commission, which is available through this hyperlink. 0.19% of the stock is currently owned by corporate insiders.

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.