Atria Wealth Solutions Inc. Sells 2,531 Shares of Visa Inc. (NYSE:V)

Key Points

• Atria Wealth Solutions Inc. reduced its stake in Visa by 2.6%, holding 94,844 shares valued at approximately $33.24 million as of the latest SEC filing.
• Visa reported earnings of $2.98 per share for the latest quarter, exceeding expectations, with revenue rising 14.3% year-over-year to $10.17 billion.
• The company declared a quarterly dividend of $0.59 per share, representing a dividend yield of 0.7%, with the payment scheduled for September 2nd.

Atria Wealth Solutions Inc. lessened its stake in shares of Visa Inc. (NYSE:V - Free Report) by 2.6% in the first quarter, according to the company in its most recent filing with the SEC. The fund owned 94,844 shares of the credit-card processor's stock after selling 2,531 shares during the quarter. Atria Wealth Solutions Inc.'s holdings in Visa were worth $33,239,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also modified their holdings of the company. GAMMA Investing LLC lifted its holdings in shares of Visa by 38,416.3% during the first quarter. GAMMA Investing LLC now owns 14,761,375 shares of the credit-card processor's stock worth $5,173,271,000 after buying an additional 14,723,050 shares in the last quarter. Northern Trust Corp increased its position in Visa by 18.0% during the fourth quarter. Northern Trust Corp now owns 18,260,714 shares of the credit-card processor's stock worth $5,771,116,000 after acquiring an additional 2,785,707 shares during the period. Universal Beteiligungs und Servicegesellschaft mbH bought a new position in Visa during the fourth quarter worth about $673,689,000. Sanders Capital LLC acquired a new stake in Visa in the 4th quarter worth about $623,022,000. Finally, Kovitz Investment Group Partners LLC boosted its holdings in Visa by 295.4% in the 4th quarter. Kovitz Investment Group Partners LLC now owns 2,362,202 shares of the credit-card processor's stock valued at $746,550,000 after purchasing an additional 1,764,781 shares during the period. Institutional investors own 82.15% of the company's stock.

Visa Stock Performance

NYSE V opened at $342.12 on Tuesday. The firm's fifty day moving average price is $354.82 and its two-hundred day moving average price is $346.91. The stock has a market cap of $631.27 billion, a PE ratio of 33.41, a PEG ratio of 2.26 and a beta of 0.94. The company has a debt-to-equity ratio of 0.52, a quick ratio of 1.12 and a current ratio of 1.12. Visa Inc. has a fifty-two week low of $254.51 and a fifty-two week high of $375.51.

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

Visa Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Tuesday, September 2nd. Stockholders of record on Tuesday, August 12th will be issued a dividend of $0.59 per share. This represents a $2.36 annualized dividend and a dividend yield of 0.7%. The ex-dividend date is Tuesday, August 12th. Visa's payout ratio is 23.05%.

Analyst Upgrades and Downgrades

Several research analysts have recently commented on the stock. Barclays reaffirmed an "overweight" rating and set a $408.00 target price (up from $396.00) on shares of Visa in a report on Thursday. Citigroup assumed coverage on Visa in a research note on Monday, June 2nd. They set a "buy" rating on the stock. Evercore ISI initiated coverage on Visa in a report on Wednesday, April 9th. They issued an "in-line" rating and a $330.00 price objective for the company. Deutsche Bank Aktiengesellschaft initiated coverage on Visa in a research report on Thursday, July 17th. They set a "buy" rating and a $410.00 target price for the company. Finally, Wall Street Zen raised Visa from a "hold" rating to a "buy" rating in a report on Monday, May 12th. Five analysts have rated the stock with a hold rating, twenty-three have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $380.84.

Insider Activity

In other Visa news, insider Paul D. Fabara sold 11,636 shares of the company's stock in a transaction that occurred on Wednesday, June 11th. The shares were sold at an average price of $375.00, for a total value of $4,363,500.00. Following the completion of the transaction, the insider directly owned 26,413 shares in the company, valued at approximately $9,904,875. This represents a 30.58% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CEO Ryan Mcinerney sold 8,630 shares of the business's stock in a transaction on Tuesday, July 1st. The stock was sold at an average price of $353.82, for a total transaction of $3,053,466.60. Following the completion of the sale, the chief executive officer directly owned 537 shares in the company, valued at approximately $190,001.34. This represents a 94.14% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 89,913 shares of company stock worth $32,902,432. Company insiders own 0.13% of the company's stock.

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.

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