My Legacy Advisors LLC Cuts Stock Holdings in Visa Inc. (NYSE:V)

My Legacy Advisors LLC lowered its position in shares of Visa Inc. (NYSE:V) by 18.4% in the third quarter, Holdings Channel.com reports. The fund owned 7,150 shares of the credit-card processor’s stock after selling 1,616 shares during the quarter. My Legacy Advisors LLC’s holdings in Visa were worth $1,966,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently made changes to their positions in the company. POM Investment Strategies LLC grew its stake in Visa by 970.0% during the 2nd quarter. POM Investment Strategies LLC now owns 107 shares of the credit-card processor’s stock valued at $28,000 after acquiring an additional 97 shares in the last quarter. TruNorth Capital Management LLC boosted its holdings in shares of Visa by 211.9% during the 2nd quarter. TruNorth Capital Management LLC now owns 131 shares of the credit-card processor’s stock worth $34,000 after purchasing an additional 89 shares during the last quarter. Bbjs Financial Advisors LLC acquired a new position in shares of Visa during the 2nd quarter worth approximately $35,000. CarsonAllaria Wealth Management Ltd. acquired a new stake in shares of Visa in the second quarter valued at approximately $35,000. Finally, Abich Financial Wealth Management LLC lifted its position in Visa by 52.9% during the first quarter. Abich Financial Wealth Management LLC now owns 133 shares of the credit-card processor’s stock worth $37,000 after buying an additional 46 shares in the last quarter. 82.15% of the stock is owned by institutional investors and hedge funds.

Visa Trading Down 0.7 %

Shares of V stock opened at $284.88 on Wednesday. Visa Inc. has a twelve month low of $228.03 and a twelve month high of $293.07. The company has a current ratio of 1.37, a quick ratio of 1.37 and a debt-to-equity ratio of 0.54. The business’s 50 day moving average is $277.95 and its two-hundred day moving average is $273.02. The company has a market capitalization of $521.03 billion, a P/E ratio of 31.83, a price-to-earnings-growth ratio of 2.00 and a beta of 0.96.

Visa (NYSE:V) last announced its quarterly earnings data on Tuesday, July 23rd. The credit-card processor reported $2.42 earnings per share (EPS) for the quarter, meeting the consensus estimate of $2.42. Visa had a net margin of 54.72% and a return on equity of 51.94%. The company had revenue of $8.90 billion for the quarter, compared to analysts’ expectations of $8.92 billion. During the same period in the previous year, the company posted $2.16 EPS. Visa’s revenue was up 9.6% compared to the same quarter last year. Equities analysts forecast that Visa Inc. will post 9.92 EPS for the current year.

Analysts Set New Price Targets

Several analysts have issued reports on V shares. Keefe, Bruyette & Woods upgraded Visa from a “moderate buy” rating to a “strong-buy” rating in a report on Tuesday, September 24th. Monness Crespi & Hardt reaffirmed a “neutral” rating on shares of Visa in a research note on Tuesday, September 24th. BMO Capital Markets upped their target price on shares of Visa from $300.00 to $310.00 and gave the company an “outperform” rating in a research report on Thursday, October 3rd. Oppenheimer started coverage on shares of Visa in a research note on Tuesday, October 1st. They issued an “outperform” rating and a $318.00 price target on the stock. Finally, Piper Sandler dropped their target price on shares of Visa from $322.00 to $319.00 and set an “overweight” rating for the company in a report on Wednesday, July 24th. Four research analysts have rated the stock with a hold rating, twenty-three have given a buy rating and two have given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Visa currently has an average rating of “Moderate Buy” and an average price target of $314.19.

Insider Transactions at Visa

In related news, CEO Ryan Mcinerney sold 8,620 shares of the firm’s stock in a transaction dated 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 sale, the chief executive officer now owns 538 shares in the company, valued at $148,687.06. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Company insiders own 0.19% of the company’s stock.

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.