Visa Inc. (NYSE:V) Shares Sold by Legato Capital Management LLC

Legato Capital Management LLC cut its position in shares of Visa Inc. (NYSE:V) by 44.9% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 9,731 shares of the credit-card processor’s stock after selling 7,934 shares during the quarter. Legato Capital Management LLC’s holdings in Visa were worth $3,075,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently added to or reduced their stakes in V. Decker Retirement Planning Inc. acquired a new position in Visa during the 4th quarter valued at approximately $26,000. Peterson Financial Group Inc. acquired a new position in shares of Visa during the third quarter valued at $26,000. POM Investment Strategies LLC boosted its holdings in shares of Visa by 48.5% during the fourth quarter. POM Investment Strategies LLC now owns 98 shares of the credit-card processor’s stock valued at $31,000 after acquiring an additional 32 shares during the period. Modus Advisors LLC acquired a new position in shares of Visa during the fourth quarter valued at $32,000. Finally, Reston Wealth Management LLC acquired a new position in shares of Visa during the third quarter valued at $31,000. Institutional investors and hedge funds own 82.15% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts recently weighed in on V shares. Wells Fargo & Company lifted their price objective on shares of Visa from $360.00 to $395.00 and gave the company an “overweight” rating in a research report on Friday, January 31st. Barclays increased their price objective on Visa from $361.00 to $396.00 and gave the stock an “overweight” rating in a report on Monday, February 3rd. BMO Capital Markets boosted their price target on Visa from $310.00 to $320.00 and gave the stock an “outperform” rating in a research report on Wednesday, October 30th. TD Cowen boosted their price target on Visa from $318.00 to $325.00 and gave the stock a “buy” rating in a research report on Wednesday, October 30th. Finally, Mizuho lifted their price objective on shares of Visa from $279.00 to $292.00 and gave the company a “neutral” rating in a research note on Friday, November 1st. Four research analysts have rated the stock with a hold rating, twenty-five have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $354.73.

Visa Stock Performance

Shares of V stock opened at $353.73 on Friday. Visa Inc. has a 1-year low of $252.70 and a 1-year high of $356.08. The company has a market capitalization of $657.15 billion, a price-to-earnings ratio of 35.66, a P/E/G ratio of 2.32 and a beta of 0.97. The company has a current ratio of 1.12, a quick ratio of 1.28 and a debt-to-equity ratio of 0.45. The stock’s fifty day simple moving average is $324.29 and its 200-day simple moving average is $298.30.

Visa (NYSE:V) last posted its quarterly earnings results on Thursday, January 30th. The credit-card processor reported $2.75 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.66 by $0.09. Visa had a net margin of 54.27% and a return on equity of 54.79%. On average, sell-side analysts predict that Visa Inc. will post 11.27 earnings per share for the current fiscal year.

Visa Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, March 3rd. Stockholders of record on Tuesday, February 11th will be issued a dividend of $0.59 per share. This represents a $2.36 annualized dividend and a dividend yield of 0.67%. The ex-dividend date of this dividend is Tuesday, February 11th. Visa’s dividend payout ratio is currently 23.79%.

Insider Activity

In related news, CAO Peter M. Andreski sold 2,332 shares of Visa stock in a transaction on Friday, February 7th. The stock was sold at an average price of $349.62, for a total transaction of $815,313.84. Following the completion of the sale, the chief accounting officer now owns 4,488 shares of the company’s stock, valued at approximately $1,569,094.56. This trade represents a 34.19 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Paul D. Fabara sold 2,171 shares of the firm’s stock in a transaction dated Friday, November 22nd. The stock was sold at an average price of $307.97, for a total value of $668,602.87. Following the sale, the insider now directly owns 17,894 shares of the company’s stock, valued at $5,510,815.18. This trade represents a 10.82 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 58,056 shares of company stock worth $19,830,050 in the last ninety days. Corporate insiders own 0.13% 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.