Atlantic Union Bankshares Corp Cuts Stock Holdings in Visa Inc. (NYSE:V)

Atlantic Union Bankshares Corp lessened its stake in Visa Inc. (NYSE:V - Free Report) by 2.4% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 46,751 shares of the credit-card processor's stock after selling 1,164 shares during the period. Visa comprises about 1.0% of Atlantic Union Bankshares Corp's holdings, making the stock its 27th largest holding. Atlantic Union Bankshares Corp's holdings in Visa were worth $16,384,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors also recently modified their holdings of V. von Borstel & Associates Inc. bought a new stake in shares of Visa in the first quarter worth about $27,000. Sellwood Investment Partners LLC bought a new stake in shares of Visa in the 4th quarter worth approximately $41,000. Mountain Hill Investment Partners Corp. purchased a new position in shares of Visa during the fourth quarter valued at approximately $47,000. Measured Risk Portfolios Inc. purchased a new position in shares of Visa during the fourth quarter valued at approximately $47,000. Finally, Navigoe LLC bought a new position in shares of Visa during the fourth quarter valued at approximately $53,000. Institutional investors own 82.15% of the company's stock.

Analyst Upgrades and Downgrades

Several brokerages have recently issued reports on V. Oppenheimer increased their target price on Visa from $390.00 to $391.00 and gave the stock an "outperform" rating in a research report on Wednesday, July 2nd. Jefferies Financial Group raised their price objective on Visa from $400.00 to $410.00 and gave the company a "buy" rating in a research report on Tuesday, May 27th. BMO Capital Markets upped their target price on shares of Visa from $370.00 to $380.00 and gave the stock an "outperform" rating in a research report on Wednesday, April 30th. Mizuho raised shares of Visa from a "neutral" rating to an "outperform" rating and lifted their price target for the company from $359.00 to $425.00 in a research report on Thursday, June 5th. Finally, Macquarie dropped their price objective on shares of Visa from $400.00 to $380.00 and set an "outperform" rating on the stock in a research note on Wednesday, April 30th. Five investment analysts have rated the stock with a hold rating, twenty-three have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus target price of $375.52.

Insiders Place Their Bets

In other news, General Counsel Julie B. Rottenberg sold 2,575 shares of the stock in a transaction that occurred on Thursday, May 1st. The stock was sold at an average price of $345.58, for a total value of $889,868.50. Following the sale, the general counsel directly owned 11,925 shares in the company, valued at approximately $4,121,041.50. This represents a 17.76% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CEO Ryan Mcinerney sold 8,630 shares of the firm's stock in a transaction that occurred on Tuesday, July 1st. The stock was sold at an average price of $353.82, for a total value of $3,053,466.60. Following the sale, the chief executive officer directly owned 537 shares of the company's stock, valued at $190,001.34. This represents a 94.14% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 101,108 shares of company stock valued at $36,771,200 over the last three months. 0.13% of the stock is owned by company insiders.

Visa Trading Down 0.3%

Visa stock opened at $348.90 on Friday. Visa Inc. has a 12-month low of $252.70 and a 12-month high of $375.51. The firm has a market capitalization of $643.78 billion, a price-to-earnings ratio of 35.07, a P/E/G ratio of 2.36 and a beta of 0.92. The firm has a 50 day moving average of $356.82 and a 200 day moving average of $343.82. The company has a current ratio of 1.08, a quick ratio of 1.08 and a debt-to-equity ratio of 0.45.

Visa (NYSE:V - Get Free Report) last released its quarterly earnings data 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. The firm had revenue of $9.59 billion for the quarter, compared to analysts' expectations of $9.57 billion. Visa had a net margin of 52.86% and a return on equity of 56.28%. The company's revenue for the quarter was up 9.3% compared to the same quarter last year. During the same quarter last year, the business posted $2.51 earnings per share. As a group, research analysts predict that Visa Inc. will post 11.3 earnings per share for the current year.

Visa Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, June 2nd. Shareholders of record on Tuesday, May 13th were paid a dividend of $0.59 per share. This represents a $2.36 annualized dividend and a yield of 0.68%. The ex-dividend date of this dividend was Tuesday, May 13th. Visa's payout ratio is 23.72%.

About Visa

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.

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