Visa Inc. $V Stock Position Lifted by Atlas Legacy Advisors LLC

by · The Cerbat Gem

Atlas Legacy Advisors LLC grew its stake in shares of Visa Inc. (NYSE:V – Free Report) by 27.9% during the 2nd quarter, HoldingsChannel reports. The fund owned 1,294 shares of the credit-card processor’s stock after acquiring an additional 282 shares during the period. Atlas Legacy Advisors LLC’s holdings in Visa were worth $459,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also modified their holdings of the company. Keystone Global Partners LLC acquired a new position in Visa in the first quarter worth approximately $26,000. Family Legacy Financial Solutions LLC acquired a new stake in Visa in the second quarter valued at approximately $28,000. Harbor Asset Planning Inc. bought a new stake in Visa in the second quarter worth approximately $29,000. Cranbrook Wealth Management LLC raised its holdings in shares of Visa by 82.0% during the 2nd quarter. Cranbrook Wealth Management LLC now owns 91 shares of the credit-card processor’s stock valued at $32,000 after purchasing an additional 41 shares in the last quarter. Finally, Hoese & Co LLP acquired a new stake in shares of Visa in the 2nd quarter valued at $36,000. 82.15% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In related news, General Counsel Julie B. Rottenberg sold 2,027 shares of the company’s stock in a transaction dated Monday, August 18th. The shares were sold at an average price of $344.02, for a total value of $697,328.54. Following the sale, the general counsel owned 11,925 shares of the company’s stock, valued at $4,102,438.50. The trade was a 14.53% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CEO Ryan Mcinerney sold 10,485 shares of the stock in a transaction dated Monday, November 3rd. The stock was sold at an average price of $341.00, for a total transaction of $3,575,385.00. Following the completion of the transaction, the chief executive officer directly owned 537 shares of the company’s stock, valued at $183,117. This trade represents a 95.13% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last 90 days, insiders sold 23,897 shares of company stock worth $8,164,561. 0.13% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

Several research firms have weighed in on V. Robert W. Baird set a $425.00 target price on Visa in a report on Wednesday, October 29th. Deutsche Bank Aktiengesellschaft began coverage on Visa in a research note on Thursday, July 17th. They issued a “buy” rating and a $410.00 price objective on the stock. KeyCorp reissued an “overweight” rating and issued a $405.00 price target on shares of Visa in a research report on Wednesday, October 22nd. Raymond James Financial restated an “outperform” rating and issued a $408.00 price objective (up from $398.00) on shares of Visa in a research note on Wednesday, October 29th. Finally, Citigroup upgraded shares of Visa to a “strong-buy” rating in a research note on Thursday, October 23rd. Four analysts have rated the stock with a Strong Buy rating, seventeen have assigned a Buy rating and five have given a Hold rating to the company. According to MarketBeat, Visa has a consensus rating of “Moderate Buy” and a consensus price target of $400.00.

View Our Latest Stock Analysis on V

Visa Stock Down 0.3%

NYSE V opened at $335.91 on Friday. Visa Inc. has a twelve month low of $299.00 and a twelve month high of $375.51. The company has a debt-to-equity ratio of 0.53, a quick ratio of 1.12 and a current ratio of 1.08. The stock has a market cap of $615.66 billion, a PE ratio of 32.90, a PEG ratio of 2.04 and a beta of 0.87. The firm has a 50-day simple moving average of $343.52 and a 200 day simple moving average of $348.62.

Visa (NYSE:V – Get Free Report) last announced its quarterly earnings data on Tuesday, October 28th. The credit-card processor reported $2.98 EPS for the quarter, topping analysts’ consensus estimates of $2.97 by $0.01. Visa had a return on equity of 60.31% and a net margin of 50.15%.The company had revenue of $10.72 billion during the quarter, compared to the consensus estimate of $10.60 billion. During the same quarter last year, the company earned $2.71 EPS. The company’s quarterly revenue was up 11.5% on a year-over-year basis. On average, research analysts forecast that Visa Inc. will post 11.3 EPS for the current year.

Visa Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, December 1st. Shareholders of record on Wednesday, November 12th will be issued a $0.67 dividend. This is a boost from Visa’s previous quarterly dividend of $0.59. The ex-dividend date of this dividend is Wednesday, November 12th. This represents a $2.68 annualized dividend and a yield of 0.8%. Visa’s payout ratio is presently 23.11%.

Visa Profile

(Free Report)

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.

See Also

Want to see what other hedge funds are holding V? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Visa Inc. (NYSE:V – Free Report).