LGL Partners LLC Decreases Stake in Visa Inc. (NYSE:V)

LGL Partners LLC lowered its position in Visa Inc. (NYSE:VGet Rating) by 15.8% in the 1st quarter, HoldingsChannel reports. The fund owned 4,294 shares of the credit-card processor’s stock after selling 804 shares during the period. LGL Partners LLC’s holdings in Visa were worth $952,000 as of its most recent filing with the SEC.

Other large investors also recently added to or reduced their stakes in the company. Cross Staff Investments Inc lifted its holdings in Visa by 0.7% in the first quarter. Cross Staff Investments Inc now owns 6,801 shares of the credit-card processor’s stock valued at $1,508,000 after acquiring an additional 47 shares during the last quarter. Physicians Financial Services Inc. lifted its holdings in Visa by 0.3% in the first quarter. Physicians Financial Services Inc. now owns 19,388 shares of the credit-card processor’s stock valued at $4,300,000 after acquiring an additional 49 shares during the last quarter. Westhampton Capital LLC lifted its holdings in Visa by 3.4% in the first quarter. Westhampton Capital LLC now owns 1,510 shares of the credit-card processor’s stock valued at $335,000 after acquiring an additional 50 shares during the last quarter. Alhambra Investment Partners LLC lifted its holdings in Visa by 1.0% in the first quarter. Alhambra Investment Partners LLC now owns 5,273 shares of the credit-card processor’s stock valued at $1,169,000 after acquiring an additional 52 shares during the last quarter. Finally, Beam Wealth Advisors Inc. lifted its holdings in Visa by 3.3% in the first quarter. Beam Wealth Advisors Inc. now owns 1,609 shares of the credit-card processor’s stock valued at $357,000 after acquiring an additional 52 shares during the last quarter. Hedge funds and other institutional investors own 81.49% of the company’s stock.

Insiders Place Their Bets

In other news, CEO Alfred F. Kelly, Jr. sold 9,000 shares of the stock in a transaction dated Friday, July 29th. The shares were sold at an average price of $212.11, for a total transaction of $1,908,990.00. Following the completion of the sale, the chief executive officer now owns 156,887 shares in the company, valued at $33,277,301.57. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Corporate insiders own 0.21% of the company’s stock.

Analyst Ratings Changes

A number of research analysts have commented on V shares. Truist Financial decreased their price target on Visa from $275.00 to $250.00 in a research note on Thursday, June 30th. Daiwa Capital Markets cut Visa from an “outperform” rating to a “neutral” rating and decreased their price target for the stock from $230.00 to $225.00 in a research note on Tuesday, August 16th. Mizuho decreased their price target on Visa from $235.00 to $215.00 and set a “neutral” rating on the stock in a research note on Friday, July 1st. Morgan Stanley upped their price target on Visa from $284.00 to $291.00 and gave the stock an “overweight” rating in a research note on Wednesday, July 27th. Finally, Macquarie decreased their price target on Visa from $270.00 to $260.00 and set an “outperform” rating on the stock in a research note on Wednesday, July 27th. Four investment analysts have rated the stock with a hold rating and eighteen have given a buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $257.64.

Visa Stock Performance

Shares of V stock opened at $205.20 on Friday. The stock’s 50-day moving average is $207.79 and its two-hundred day moving average is $207.91. The firm has a market cap of $387.91 billion, a price-to-earnings ratio of 30.27, a PEG ratio of 1.62 and a beta of 0.90. Visa Inc. has a 1 year low of $185.91 and a 1 year high of $236.96. The company has a debt-to-equity ratio of 0.63, a quick ratio of 1.43 and a current ratio of 1.43.

Visa Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, September 1st. Shareholders of record on Friday, August 12th were issued a dividend of $0.375 per share. This represents a $1.50 annualized dividend and a dividend yield of 0.73%. The ex-dividend date was Thursday, August 11th. Visa’s payout ratio is 22.12%.

About Visa

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Visa Inc operates as a payments technology company worldwide. The company facilitates digital payments among consumers, merchants, financial institutions, businesses, strategic partners, and government entities. It operates VisaNet, a transaction processing network that enables authorization, clearing, and settlement of payment transactions.

See Also

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Institutional Ownership by Quarter for Visa (NYSE:V)

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