Legacy Private Trust Co. Trims Holdings in Visa Inc. (NYSE:V)

Legacy Private Trust Co. decreased its holdings in Visa Inc. (NYSE:V) by 0.9% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 8,854 shares of the credit-card processor’s stock after selling 81 shares during the period. Legacy Private Trust Co.’s holdings in Visa were worth $2,471,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Abacus Wealth Partners LLC purchased a new position in shares of Visa during the first quarter valued at $383,000. Thomasville National Bank increased its stake in shares of Visa by 2.4% during the first quarter. Thomasville National Bank now owns 108,206 shares of the credit-card processor’s stock valued at $30,198,000 after buying an additional 2,549 shares during the period. Signal Advisors Wealth LLC increased its stake in shares of Visa by 281.2% during the first quarter. Signal Advisors Wealth LLC now owns 4,113 shares of the credit-card processor’s stock valued at $1,148,000 after buying an additional 3,034 shares during the period. Perpetual Ltd increased its stake in shares of Visa by 0.8% during the first quarter. Perpetual Ltd now owns 6,344 shares of the credit-card processor’s stock valued at $1,770,000 after buying an additional 52 shares during the period. Finally, Montecito Bank & Trust increased its stake in shares of Visa by 1.1% during the first quarter. Montecito Bank & Trust now owns 11,612 shares of the credit-card processor’s stock valued at $3,241,000 after buying an additional 122 shares during the period. Hedge funds and other institutional investors own 82.15% of the company’s stock.

Analyst Upgrades and Downgrades

V has been the topic of several research reports. Mizuho raised their price target on Visa from $265.00 to $275.00 and gave the company a “neutral” rating in a research note on Thursday, May 2nd. UBS Group lifted their target price on Visa from $315.00 to $325.00 and gave the company a “buy” rating in a research note on Wednesday, April 24th. Evercore ISI lifted their target price on Visa from $325.00 to $335.00 and gave the company an “outperform” rating in a research note on Tuesday, March 26th. William Blair reiterated an “outperform” rating on shares of Visa in a research note on Wednesday, April 24th. Finally, Redburn Atlantic reiterated a “neutral” rating and issued a $307.00 target price on shares of Visa in a research note on Wednesday, March 27th. Five analysts have rated the stock with a hold rating and twenty-one have assigned a buy rating to the company. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $303.76.

Insider Buying and Selling

In related news, insider Paul D. Fabara sold 25,293 shares of Visa stock in a transaction that occurred on Wednesday, May 15th. The stock was sold at an average price of $277.15, for a total transaction of $7,009,954.95. Following the completion of the transaction, the insider now directly owns 17,894 shares in the company, valued at $4,959,322.10. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In related news, insider Paul D. Fabara sold 25,293 shares of Visa stock in a transaction that occurred on Wednesday, May 15th. The stock was sold at an average price of $277.15, for a total transaction of $7,009,954.95. Following the completion of the transaction, the insider now directly owns 17,894 shares in the company, valued at $4,959,322.10. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Lloyd Carney sold 909 shares of Visa stock in a transaction that occurred on Friday, April 26th. The shares were sold at an average price of $275.55, for a total value of $250,474.95. Following the transaction, the director now owns 2,591 shares of the company’s stock, valued at $713,950.05. The disclosure for this sale can be found here. Insiders sold 34,402 shares of company stock valued at $9,559,382 over the last quarter. 0.19% of the stock is currently owned by company insiders.

Visa Trading Down 0.6 %

Visa stock opened at $275.20 on Friday. The company has a quick ratio of 1.40, a current ratio of 1.40 and a debt-to-equity ratio of 0.53. Visa Inc. has a 52 week low of $225.50 and a 52 week high of $290.96. The company has a market capitalization of $503.32 billion, a price-to-earnings ratio of 30.75, a price-to-earnings-growth ratio of 1.89 and a beta of 0.97. The stock has a 50-day moving average price of $273.97 and a 200 day moving average price of $272.88.

Visa (NYSE:V) last released its 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 firm had revenue of $8.78 billion during the quarter, compared to the consensus estimate of $8.62 billion. During the same quarter in the previous year, the company posted $2.09 earnings per share. The company’s revenue was up 9.9% compared to the same quarter last year. Sell-side analysts anticipate that Visa Inc. will post 9.94 EPS for the current year.

Visa Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, June 3rd. Investors of record on Friday, May 17th were issued a dividend of $0.52 per share. This represents a $2.08 dividend on an annualized basis and a dividend yield of 0.76%. The ex-dividend date was Thursday, May 16th. Visa’s dividend payout ratio (DPR) is 23.24%.

Visa Company 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.