Atria Wealth Solutions Inc. Has $17.43 Million Position in Visa Inc. $V

Key Points

• Atria Wealth Solutions Inc. reduced its holdings in Visa by 48.3% in the second quarter, with remaining shares valued at approximately $17.43 million.
• Visa reported $2.98 EPS for the quarter, surpassing estimates, and its revenue increased by 14.3% year-over-year to $10.17 billion.
• Insiders have recently sold significant amounts of Visa shares, including CEO Ryan Mcinerney, who sold 10,485 shares for a total of over $3.58 million.

Atria Wealth Solutions Inc. cut its holdings in shares of Visa Inc. (NYSE:V - Free Report) by 48.3% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 49,025 shares of the credit-card processor's stock after selling 45,819 shares during the quarter. Atria Wealth Solutions Inc.'s holdings in Visa were worth $17,432,000 at the end of the most recent reporting period.

Other hedge funds also recently modified their holdings of the company. Keystone Global Partners LLC bought a new stake in shares of Visa during the 1st quarter worth approximately $26,000. von Borstel & Associates Inc. bought a new stake in Visa during the first quarter worth $27,000. Family Legacy Financial Solutions LLC acquired a new stake in Visa in the second quarter valued at $28,000. Cranbrook Wealth Management LLC grew its position in shares of Visa by 82.0% in the 2nd quarter. Cranbrook Wealth Management LLC now owns 91 shares of the credit-card processor's stock valued at $32,000 after acquiring an additional 41 shares during the period. Finally, 1 North Wealth Services LLC acquired a new position in shares of Visa during the 1st quarter worth about $38,000. Institutional investors own 82.15% of the company's stock.

Visa Stock Performance

Shares of NYSE V opened at $341.90 on Friday. The company has a debt-to-equity ratio of 0.52, a current ratio of 1.12 and a quick ratio of 1.12. The firm has a market cap of $626.63 billion, a price-to-earnings ratio of 33.39, a P/E/G ratio of 1.99 and a beta of 0.90. The stock's fifty day moving average price is $344.30 and its two-hundred day moving average price is $346.83. Visa Inc. has a one year low of $280.78 and a one year high of $375.51.

Visa (NYSE:V - Get Free Report) last announced its earnings results on Tuesday, July 29th. The credit-card processor reported $2.98 EPS for the quarter, topping the consensus estimate of $2.85 by $0.13. Visa had a net margin of 52.16% and a return on equity of 58.93%. The company had revenue of $10.17 billion for the quarter, compared to analysts' expectations of $9.82 billion. During the same period last year, the firm earned $2.42 earnings per share. The business's revenue for the quarter was up 14.3% on a year-over-year basis. On average, equities analysts forecast that Visa Inc. will post 11.3 EPS for the current year.

Visa Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Tuesday, September 2nd. Stockholders of record on Tuesday, August 12th were given a $0.59 dividend. The ex-dividend date was Tuesday, August 12th. This represents a $2.36 annualized dividend and a dividend yield of 0.7%. Visa's payout ratio is presently 23.05%.

Insider Buying and Selling

In related news, CEO Ryan Mcinerney sold 10,485 shares of the stock in a transaction that occurred on Wednesday, October 1st. The shares were sold at an average price of $342.30, for a total value of $3,589,015.50. Following the completion of the transaction, the chief executive officer owned 537 shares of the company's stock, valued at $183,815.10. This represents a 95.13% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, General Counsel Julie B. Rottenberg sold 2,027 shares of the 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 completion of the transaction, the general counsel owned 11,925 shares of the company's stock, valued at $4,102,438.50. This represents a 14.53% decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 0.13% of the company's stock.

Analyst Upgrades and Downgrades

V has been the subject of several recent analyst reports. Robert W. Baird set a $410.00 target price on shares of Visa and gave the company an "outperform" rating in a research note on Monday, October 6th. Truist Financial cut their price objective on Visa from $400.00 to $397.00 and set a "buy" rating for the company in a research report on Thursday, July 17th. Weiss Ratings reiterated a "buy (b)" rating on shares of Visa in a research note on Wednesday, October 8th. Oppenheimer increased their price target on Visa from $390.00 to $391.00 and gave the company an "outperform" rating in a research note on Wednesday, July 2nd. Finally, Raymond James Financial reaffirmed an "outperform" rating on shares of Visa in a research report on Wednesday, July 30th. One analyst has rated the stock with a Strong Buy rating, twenty-one have given a Buy rating and five have given a Hold rating to the company. According to data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average price target of $389.00.

Visa 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.

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