Atticus Wealth Management LLC Reduces Stock Position in Visa Inc. (NYSE:V)

Posted by on Apr 16th, 2023

Atticus Wealth Management LLC decreased its stake in Visa Inc. (NYSE:V – Get Rating) by 6.5% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 3,853 shares of the credit-card processor’s stock after selling 267 shares during the quarter. Atticus Wealth Management LLC’s holdings in Visa were worth $801,000 as of its most recent SEC filing.

A number of other hedge funds have also recently modified their holdings of V. Occidental Asset Management LLC boosted its position in Visa by 4.3% during the fourth quarter. Occidental Asset Management LLC now owns 11,195 shares of the credit-card processor’s stock worth $2,326,000 after purchasing an additional 465 shares in the last quarter. Private Trust Co. NA boosted its position in Visa by 1.7% during the fourth quarter. Private Trust Co. NA now owns 8,208 shares of the credit-card processor’s stock worth $1,705,000 after purchasing an additional 140 shares in the last quarter. Foster Group Inc. purchased a new position in Visa during the fourth quarter worth approximately $210,000. First City Capital Management Inc. purchased a new position in Visa during the third quarter worth approximately $213,000. Finally, Capital Investment Advisors LLC boosted its position in Visa by 4.0% during the fourth quarter. Capital Investment Advisors LLC now owns 23,619 shares of the credit-card processor’s stock worth $4,907,000 after purchasing an additional 899 shares in the last quarter. Hedge funds and other institutional investors own 81.87% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages have issued reports on V. Raymond James increased their price target on Visa from $261.00 to $281.00 and gave the stock an “outperform” rating in a research report on Friday, January 27th. Wells Fargo & Company increased their target price on Visa from $250.00 to $265.00 and gave the company an “overweight” rating in a report on Friday, January 27th. Truist Financial increased their target price on Visa from $235.00 to $260.00 in a report on Friday, January 20th. JPMorgan Chase & Co. increased their target price on Visa from $243.00 to $265.00 and gave the company an “overweight” rating in a report on Friday, January 27th. Finally, Jefferies Financial Group increased their target price on Visa from $225.00 to $260.00 and gave the company a “buy” rating in a report on Wednesday, January 18th. One analyst has rated the stock with a sell rating, two have assigned a hold rating and twenty have assigned a buy rating to the company. According to data from MarketBeat.com, Visa currently has an average rating of “Moderate Buy” and an average price target of $259.11.

Insider Transactions at Visa

In other news, Chairman Alfred F. Kelly, Jr. sold 58,000 shares of the firm’s stock in a transaction on Monday, March 6th. The stock was sold at an average price of $223.99, for a total transaction of $12,991,420.00. Following the completion of the transaction, the chairman now directly owns 162,354 shares in the company, valued at $36,365,672.46. The transaction was disclosed in a document filed with the SEC, which is available at this link. In other news, Chairman Alfred F. Kelly, Jr. sold 58,000 shares of the firm’s stock in a transaction on Monday, March 6th. The stock was sold at an average price of $223.99, for a total transaction of $12,991,420.00. Following the completion of the transaction, the chairman now directly owns 162,354 shares in the company, valued at $36,365,672.46. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, insider Rajat Taneja sold 61,721 shares of the firm’s stock in a transaction on Friday, February 3rd. The stock was sold at an average price of $229.92, for a total value of $14,190,892.32. Following the transaction, the insider now owns 232,112 shares of the company’s stock, valued at $53,367,191.04. The disclosure for this sale can be found here. Insiders sold a total of 133,115 shares of company stock worth $30,115,598 over the last ninety days. Company insiders own 0.22% of the company’s stock.

Visa Price Performance

V stock opened at $234.02 on Friday. The business has a fifty day moving average of $223.73 and a two-hundred day moving average of $212.59. The company has a quick ratio of 1.44, a current ratio of 1.44 and a debt-to-equity ratio of 0.59. The stock has a market cap of $440.19 billion, a price-to-earnings ratio of 32.73, a price-to-earnings-growth ratio of 1.82 and a beta of 0.96. Visa Inc. has a 52-week low of $174.60 and a 52-week high of $234.99.

Visa (NYSE:V – Get Rating) last posted its earnings results on Thursday, January 26th. The credit-card processor reported $2.18 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.01 by $0.17. The company had revenue of $7.90 billion during the quarter, compared to analysts’ expectations of $7.70 billion. Visa had a return on equity of 49.95% and a net margin of 50.28%. The firm’s quarterly revenue was up 11.9% compared to the same quarter last year. During the same quarter last year, the firm earned $1.81 earnings per share. As a group, research analysts anticipate that Visa Inc. will post 8.43 earnings per share for the current year.

Visa Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, March 1st. Shareholders of record on Friday, February 10th were paid a dividend of $0.45 per share. This is a boost from Visa’s previous quarterly dividend of $0.40. The ex-dividend date was Thursday, February 9th. This represents a $1.80 annualized dividend and a yield of 0.77%. Visa’s dividend payout ratio (DPR) is 25.17%.

Visa Profile

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Visa, Inc engages in the provision of digital payment services. It also facilitates global commerce through the transfer of value and information among a global network of consumers, merchants, financial institutions, businesses, strategic partners, and government entities. It offers debit cards, credit cards, prepaid products, commercial payment solutions, and global automated teller machines (ATMs).

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Institutional Ownership by Quarter for Visa (NYSE:V)

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