Atlas Private Wealth Management increased its stake in shares of Visa Inc. (NYSE:V – Free Report) by 1.8% in the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 9,872 shares of the credit-card processor’s stock after purchasing an additional 176 shares during the period. Visa makes up 1.3% of Atlas Private Wealth Management’s investment portfolio, making the stock its 19th largest holding. Atlas Private Wealth Management’s holdings in Visa were worth $2,226,000 as of its most recent filing with the Securities & Exchange Commission.
A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. BCK Partners Inc. bought a new position in Visa in the first quarter worth approximately $2,717,000. Markel Corp increased its stake in shares of Visa by 0.3% in the 1st quarter. Markel Corp now owns 961,105 shares of the credit-card processor’s stock worth $213,144,000 after purchasing an additional 3,065 shares in the last quarter. AMI Investment Management Inc. bought a new position in Visa in the 1st quarter worth $2,323,000. Ergoteles LLC purchased a new position in Visa during the first quarter valued at $538,000. Finally, XTX Topco Ltd bought a new stake in Visa during the first quarter valued at about $1,496,000. Institutional investors own 84.92% of the company’s stock.
Insider Transactions at Visa
In related news, CEO Ryan Mcinerney sold 425 shares of the stock in a transaction dated Tuesday, July 11th. The shares were sold at an average price of $240.00, for a total value of $102,000.00. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In other news, Chairman Alfred F. Kelly, Jr. sold 7,500 shares of the firm’s stock in a transaction that occurred on Monday, May 1st. The shares were sold at an average price of $232.87, for a total transaction of $1,746,525.00. Following the transaction, the chairman now directly owns 154,854 shares of the company’s stock, valued at $36,060,850.98. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, CEO Ryan Mcinerney sold 425 shares of the stock in a transaction that occurred on Tuesday, July 11th. The stock was sold at an average price of $240.00, for a total value of $102,000.00. The disclosure for this sale can be found here. In the last quarter, insiders sold 165,727 shares of company stock worth $38,891,141. 0.22% of the stock is currently owned by insiders.
Visa Stock Up 0.5 %
Visa (NYSE:V – Get Free Report) last posted its quarterly earnings data on Tuesday, April 25th. The credit-card processor reported $2.09 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.97 by $0.12. Visa had a return on equity of 50.21% and a net margin of 50.95%. The business had revenue of $7.99 billion during the quarter, compared to analyst estimates of $7.79 billion. During the same period last year, the company earned $1.79 EPS. The company’s revenue for the quarter was up 11.1% on a year-over-year basis. As a group, equities research analysts predict that Visa Inc. will post 8.59 earnings per share for the current year.
Visa Dividend Announcement
The company also recently announced a quarterly dividend, which was paid on Thursday, June 1st. Stockholders of record on Friday, May 12th were paid a $0.45 dividend. This represents a $1.80 annualized dividend and a dividend yield of 0.74%. The ex-dividend date of this dividend was Thursday, May 11th. Visa’s dividend payout ratio is currently 24.06%.
Analysts Set New Price Targets
A number of research analysts have recently weighed in on V shares. Citigroup lifted their price objective on Visa from $270.00 to $273.00 in a research report on Wednesday, April 26th. Robert W. Baird upped their price target on shares of Visa from $272.00 to $284.00 in a research report on Wednesday, April 26th. Royal Bank of Canada increased their price objective on shares of Visa from $262.00 to $265.00 in a research note on Wednesday, April 26th. Oppenheimer lifted their target price on shares of Visa from $237.00 to $248.00 and gave the company an “outperform” rating in a research note on Wednesday, April 19th. Finally, BMO Capital Markets increased their price target on Visa from $253.00 to $263.00 in a research note on Wednesday, April 26th. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and sixteen have assigned a buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $262.52.
About Visa
Visa Inc operates as a payments technology company worldwide. 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, click to pay; Visa Direct, a real-time payments network; Visa B2B Connect, a multilateral B2B cross-border payments network; Visa Treasury as a Service, a cross-border consumer payments business; 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.
Read More
- Five stocks we like better than Visa
- Delta Takes Flight: Double-Digit Upside In Sight
- Generac Powers Up as Summer Temperatures Rise
- 3 Reasons Why Rivian Can Continue To Surge Higher
- Despite Breaking Higher, Analysts Remain Cautious HP Inc.
- PepsiCo Can Soar To New Highs In The 2nd Half
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).
Receive News & Ratings for Visa Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Visa and related companies with MarketBeat.com's FREE daily email newsletter.
