Legacy Financial Advisors Inc. Has $3.35 Million Stake in Visa Inc. (NYSE:V)

Legacy Financial Advisors Inc. raised its stake in shares of Visa Inc. (NYSE:V) by 4.2% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 12,757 shares of the credit-card processor’s stock after buying an additional 514 shares during the quarter. Visa comprises 0.6% of Legacy Financial Advisors Inc.’s portfolio, making the stock its 26th biggest position. Legacy Financial Advisors Inc.’s holdings in Visa were worth $3,348,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds also recently modified their holdings of the stock. 11 Capital Partners LP increased its holdings in Visa by 28.0% during the 2nd quarter. 11 Capital Partners LP now owns 48,440 shares of the credit-card processor’s stock worth $12,714,000 after purchasing an additional 10,600 shares in the last quarter. Summit Trail Advisors LLC boosted its position in shares of Visa by 0.6% during the second quarter. Summit Trail Advisors LLC now owns 19,035 shares of the credit-card processor’s stock worth $4,996,000 after buying an additional 118 shares during the period. Capstone Triton Financial Group LLC grew its holdings in shares of Visa by 15.5% during the second quarter. Capstone Triton Financial Group LLC now owns 3,734 shares of the credit-card processor’s stock worth $980,000 after buying an additional 500 shares in the last quarter. Thames Capital Management LLC raised its position in Visa by 3.2% in the 2nd quarter. Thames Capital Management LLC now owns 49,469 shares of the credit-card processor’s stock valued at $12,984,000 after buying an additional 1,548 shares during the last quarter. Finally, Blue Whale Capital LLP boosted its position in Visa by 4.6% during the 2nd quarter. Blue Whale Capital LLP now owns 203,400 shares of the credit-card processor’s stock worth $53,386,000 after acquiring an additional 8,900 shares during the last quarter. 82.15% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

A number of analysts have commented on the stock. The Goldman Sachs Group reiterated a “buy” rating and issued a $317.00 price target on shares of Visa in a research note on Thursday, September 12th. Jefferies Financial Group cut their target price on shares of Visa from $325.00 to $300.00 and set a “buy” rating for the company in a research note on Wednesday, July 24th. Compass Point began coverage on shares of Visa in a research note on Wednesday, September 4th. They issued a “buy” rating and a $319.00 price target on the stock. Macquarie restated an “outperform” rating and set a $300.00 price objective on shares of Visa in a research report on Wednesday, July 24th. Finally, Evercore ISI decreased their target price on Visa from $335.00 to $330.00 and set an “outperform” rating on the stock in a research report on Tuesday, June 25th. Six investment analysts have rated the stock with a hold rating, twenty-four have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $310.22.

Visa Stock Performance

Shares of Visa stock opened at $284.67 on Friday. The company has a debt-to-equity ratio of 0.54, a current ratio of 1.37 and a quick ratio of 1.37. Visa Inc. has a one year low of $227.78 and a one year high of $293.07. The business has a 50-day simple moving average of $270.65 and a 200 day simple moving average of $273.49. The firm has a market capitalization of $518.76 billion, a price-to-earnings ratio of 31.81, a PEG ratio of 2.05 and a beta of 0.96.

Visa (NYSE:V) last released its quarterly earnings results on Tuesday, July 23rd. The credit-card processor reported $2.42 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $2.42. The business had revenue of $8.90 billion during the quarter, compared to the consensus estimate of $8.92 billion. Visa had a return on equity of 51.94% and a net margin of 54.72%. The company’s quarterly revenue was up 9.6% on a year-over-year basis. During the same quarter in the previous year, the business earned $2.16 EPS. On average, research analysts anticipate that Visa Inc. will post 9.92 earnings per share for the current fiscal year.

Visa Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, September 3rd. Shareholders of record on Friday, August 9th were issued a dividend of $0.52 per share. This represents a $2.08 annualized dividend and a yield of 0.73%. The ex-dividend date was Friday, August 9th. Visa’s dividend payout ratio (DPR) is presently 23.24%.

Insiders Place Their Bets

In related news, CEO Ryan Mcinerney sold 8,620 shares of Visa stock in a transaction that occurred on Tuesday, September 3rd. The shares were sold at an average price of $276.37, for a total value of $2,382,309.40. Following the completion of the transaction, the chief executive officer now directly owns 538 shares in the company, valued at approximately $148,687.06. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Company insiders own 0.19% of the company’s stock.

Visa 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.