Atalanta Sosnoff Capital LLC Sells 35 Shares of Visa Inc. (NYSE:V)

Atalanta Sosnoff Capital LLC lowered its holdings in shares of Visa Inc. (NYSE:V) by 1.4% in the fourth quarter, according to its most recent disclosure with the SEC. The firm owned 2,451 shares of the credit-card processor’s stock after selling 35 shares during the period. Atalanta Sosnoff Capital LLC’s holdings in Visa were worth $775,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also recently bought and sold shares of V. Principal Financial Group Inc. raised its holdings in Visa by 7.7% in the 3rd quarter. Principal Financial Group Inc. now owns 5,733,284 shares of the credit-card processor’s stock valued at $1,576,366,000 after acquiring an additional 411,210 shares during the period. Versant Capital Management Inc increased its stake in shares of Visa by 23.4% during the fourth quarter. Versant Capital Management Inc now owns 4,526 shares of the credit-card processor’s stock worth $1,430,000 after purchasing an additional 858 shares during the period. GAMMA Investing LLC boosted its stake in Visa by 15.2% in the 4th quarter. GAMMA Investing LLC now owns 38,325 shares of the credit-card processor’s stock valued at $12,112,000 after purchasing an additional 5,055 shares during the period. Modus Advisors LLC bought a new stake in Visa in the 4th quarter valued at $32,000. Finally, First Citizens Financial Corp grew its holdings in Visa by 108.5% in the 4th quarter. First Citizens Financial Corp now owns 3,575 shares of the credit-card processor’s stock valued at $1,130,000 after buying an additional 1,860 shares in the last quarter. Institutional investors own 82.15% of the company’s stock.

Visa Stock Up 1.5 %

Shares of NYSE V opened at $347.66 on Friday. The company has a 50 day simple moving average of $337.61 and a 200 day simple moving average of $324.57. The company has a debt-to-equity ratio of 0.45, a current ratio of 1.12 and a quick ratio of 1.12. Visa Inc. has a 1 year low of $252.70 and a 1 year high of $366.54. The firm has a market cap of $645.87 billion, a PE ratio of 35.05, a price-to-earnings-growth ratio of 2.33 and a beta of 0.94.

Visa (NYSE:V) last released its quarterly earnings results on Tuesday, April 29th. The credit-card processor reported $2.76 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.68 by $0.08. Visa had a net margin of 54.27% and a return on equity of 54.79%. The firm had revenue of $9.59 billion during the quarter, compared to the consensus estimate of $9.57 billion. During the same quarter last year, the firm earned $2.51 earnings per share. The company’s revenue for the quarter was up 9.3% on a year-over-year basis. On average, research analysts forecast that Visa Inc. will post 11.3 EPS for the current year.

Visa Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, June 2nd. Stockholders of record on Tuesday, May 13th will be paid a $0.59 dividend. The ex-dividend date is Tuesday, May 13th. This represents a $2.36 annualized dividend and a dividend yield of 0.68%. Visa’s payout ratio is 23.79%.

Insider Transactions at Visa

In other Visa news, CAO Peter M. Andreski sold 2,332 shares of the stock in a transaction dated 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 directly owns 4,488 shares in the company, valued at approximately $1,569,094.56. This trade represents a 34.19 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Tullier Kelly Mahon sold 33,741 shares of the business’s stock in a transaction dated Friday, February 7th. The shares were sold at an average price of $349.77, for a total value of $11,801,589.57. Following the completion of the transaction, the insider now directly owns 36,566 shares in the company, valued at $12,789,689.82. This represents a 47.99 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 154,400 shares of company stock worth $52,711,258 over the last ninety days. 0.13% of the stock is owned by insiders.

Analysts Set New Price Targets

Several equities analysts recently commented on V shares. Oppenheimer restated an “outperform” rating on shares of Visa in a research note on Thursday, February 13th. Citigroup reaffirmed a “neutral” rating on shares of Visa in a report on Thursday, February 13th. Macquarie dropped their price target on shares of Visa from $400.00 to $380.00 and set an “outperform” rating for the company in a research report on Wednesday. JPMorgan Chase & Co. raised their price objective on Visa from $340.00 to $375.00 and gave the stock an “overweight” rating in a research note on Friday, January 31st. Finally, Wells Fargo & Company lifted their price objective on Visa from $360.00 to $395.00 and gave the company an “overweight” rating in a report on Friday, January 31st. Seven analysts have rated the stock with a hold rating, twenty have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $362.38.

Visa Company Profile

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.