Atticus Wealth Management LLC Has $1.62 Million Stake in Visa Inc. $V

Atticus Wealth Management LLC lifted its stake in shares of Visa Inc. (NYSE:V - Free Report) by 21.4% in the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 4,556 shares of the credit-card processor's stock after buying an additional 803 shares during the quarter. Atticus Wealth Management LLC's holdings in Visa were worth $1,618,000 as of its most recent filing with the Securities & Exchange Commission.

Several other large investors also recently modified their holdings of the stock. Mn Services Vermogensbeheer B.V. grew its position in shares of Visa by 11.0% during the 2nd quarter. Mn Services Vermogensbeheer B.V. now owns 645,376 shares of the credit-card processor's stock worth $229,141,000 after buying an additional 64,000 shares during the period. SK Wealth Management LLC acquired a new stake in shares of Visa during the 2nd quarter worth approximately $216,000. Wedmont Private Capital grew its position in shares of Visa by 7.4% during the 2nd quarter. Wedmont Private Capital now owns 27,252 shares of the credit-card processor's stock worth $9,750,000 after buying an additional 1,867 shares during the period. Swedbank AB grew its position in shares of Visa by 14.9% during the 2nd quarter. Swedbank AB now owns 2,706,304 shares of the credit-card processor's stock worth $960,873,000 after buying an additional 351,085 shares during the period. Finally, Secure Asset Management LLC lifted its holdings in shares of Visa by 12.9% in the 2nd quarter. Secure Asset Management LLC now owns 10,885 shares of the credit-card processor's stock worth $3,865,000 after purchasing an additional 1,242 shares in the last quarter. Institutional investors and hedge funds own 82.15% of the company's stock.

Visa Trading Down 2.2%

Shares of Visa stock opened at $338.45 on Friday. Visa Inc. has a 52-week low of $268.23 and a 52-week high of $375.51. The stock's 50-day simple moving average is $345.81 and its 200 day simple moving average is $346.47. The stock has a market capitalization of $620.32 billion, a P/E ratio of 33.05, a P/E/G ratio of 2.30 and a beta of 0.92. 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 (NYSE:V - Get Free Report) last announced its quarterly earnings data on Tuesday, July 29th. The credit-card processor reported $2.98 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $2.85 by $0.13. Visa had a return on equity of 58.93% and a net margin of 52.16%.The business had revenue of $10.17 billion for the quarter, compared to analysts' expectations of $9.82 billion. During the same period in the previous year, the business posted $2.42 EPS. The firm's quarterly revenue was up 14.3% compared to the same quarter last year. As a group, research analysts anticipate that Visa Inc. will post 11.3 EPS for the current year.

Visa Announces Dividend

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

Wall Street Analysts Forecast Growth

A number of equities analysts recently issued reports on V shares. Truist Financial cut their target price on Visa from $400.00 to $397.00 and set a "buy" rating on the stock in a report on Thursday, July 17th. Mizuho upgraded Visa from a "neutral" rating to an "outperform" rating and increased their target price for the stock from $359.00 to $425.00 in a report on Thursday, June 5th. Oppenheimer increased their target price on Visa from $390.00 to $391.00 and gave the stock an "outperform" rating in a report on Wednesday, July 2nd. Raymond James Financial reiterated an "outperform" rating on shares of Visa in a report on Wednesday, July 30th. Finally, Jefferies Financial Group increased their target price on Visa from $400.00 to $410.00 and gave the stock a "buy" rating in a report on Tuesday, May 27th. One investment analyst has rated the stock with a Strong Buy rating, twenty have given a Buy rating and five have assigned a Hold rating to the company's stock. Based on data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $385.96.

Insider Transactions at Visa

In related news, General Counsel Julie B. Rottenberg sold 2,027 shares of the business's stock in a transaction dated Monday, August 18th. The stock was sold at an average price of $344.02, for a total value of $697,328.54. Following the sale, the general counsel directly owned 11,925 shares in the company, valued at approximately $4,102,438.50. The trade was a 14.53% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CEO Ryan Mcinerney sold 8,630 shares of the business's stock in a transaction dated Tuesday, July 1st. The shares were sold at an average price of $353.82, for a total value of $3,053,466.60. Following the completion of the sale, the chief executive officer owned 537 shares in the company, 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 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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