Atlantic Union Bankshares Corp Acquires 42,279 Shares of Visa Inc. $V

Atlantic Union Bankshares Corp lifted its holdings in shares of Visa Inc. (NYSE:V) by 90.4% during the second quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 89,030 shares of the credit-card processor’s stock after purchasing an additional 42,279 shares during the period. Visa accounts for 0.7% of Atlantic Union Bankshares Corp’s holdings, making the stock its 29th biggest holding. Atlantic Union Bankshares Corp’s holdings in Visa were worth $31,610,000 as of its most recent SEC filing.

Several other institutional investors also recently modified their holdings of V. Vanguard Group Inc. grew its position in shares of Visa by 1.1% in the 1st quarter. Vanguard Group Inc. now owns 161,082,431 shares of the credit-card processor’s stock valued at $56,452,949,000 after buying an additional 1,677,088 shares during the last quarter. Northern Trust Corp lifted its stake in shares of Visa by 4.0% in the first quarter. Northern Trust Corp now owns 18,987,013 shares of the credit-card processor’s stock worth $6,654,189,000 after acquiring an additional 726,299 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its stake in shares of Visa by 7.2% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 14,277,146 shares of the credit-card processor’s stock worth $5,003,569,000 after acquiring an additional 955,392 shares during the period. Charles Schwab Investment Management Inc. boosted its holdings in Visa by 3.5% in the first quarter. Charles Schwab Investment Management Inc. now owns 12,675,220 shares of the credit-card processor’s stock valued at $4,442,157,000 after acquiring an additional 434,217 shares during the last quarter. Finally, Wellington Management Group LLP increased its position in Visa by 17.7% during the 1st quarter. Wellington Management Group LLP now owns 10,979,720 shares of the credit-card processor’s stock valued at $3,847,953,000 after purchasing an additional 1,651,954 shares during the period. Institutional investors own 82.15% of the company’s stock.

Wall Street Analyst Weigh In

V has been the subject of a number of analyst reports. Deutsche Bank Aktiengesellschaft began coverage on shares of Visa in a research note on Thursday, July 17th. They set a “buy” rating and a $410.00 target price for the company. Wells Fargo & Company upgraded Visa to a “strong-buy” rating in a report on Wednesday, October 22nd. Robert W. Baird set a $425.00 price target on Visa in a research note on Wednesday, October 29th. Macquarie reduced their target price on shares of Visa from $425.00 to $410.00 and set an “outperform” rating for the company in a research note on Wednesday, October 29th. Finally, Weiss Ratings reiterated a “buy (b)” rating on shares of Visa in a report on Wednesday, October 8th. Four investment analysts have rated the stock with a Strong Buy rating, seventeen have issued a Buy rating and five have issued a Hold rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $400.00.

Visa Stock Performance

Shares of V opened at $336.63 on Friday. Visa Inc. has a 1 year low of $299.00 and a 1 year high of $375.51. The company has a debt-to-equity ratio of 0.53, a current ratio of 1.08 and a quick ratio of 1.12. The stock’s fifty day moving average price is $343.84 and its two-hundred day moving average price is $348.51. The firm has a market cap of $616.97 billion, a PE ratio of 32.97, a PEG ratio of 2.06 and a beta of 0.87.

Visa (NYSE:V) last announced its quarterly earnings data on Tuesday, October 28th. The credit-card processor reported $2.98 earnings per share for the quarter, topping the consensus estimate of $2.97 by $0.01. Visa had a return on equity of 60.31% and a net margin of 50.15%.The company had revenue of $10.72 billion during the quarter, compared to analyst estimates of $10.60 billion. During the same quarter last year, the firm posted $2.71 EPS. The firm’s revenue for the quarter was up 11.5% on a year-over-year basis. On average, equities research analysts forecast that Visa Inc. will post 11.3 EPS for the current year.

Visa Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, December 1st. Stockholders of record on Wednesday, November 12th will be given a $0.67 dividend. This represents a $2.68 annualized dividend and a dividend yield of 0.8%. This is an increase from Visa’s previous quarterly dividend of $0.59. The ex-dividend date of this dividend is Wednesday, November 12th. Visa’s payout ratio is presently 23.11%.

Insider Activity at Visa

In related news, CEO Ryan Mcinerney sold 10,485 shares of the firm’s stock in a transaction that occurred on Monday, November 3rd. The shares were sold at an average price of $341.00, for a total value of $3,575,385.00. Following the completion of the transaction, the chief executive officer directly owned 537 shares of the company’s stock, valued at approximately $183,117. This trade represents a 95.13% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, General Counsel Julie B. Rottenberg sold 2,027 shares of Visa stock in a transaction that occurred on Monday, August 18th. The shares were sold at an average price of $344.02, for a total transaction 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 is available in the SEC filing. In the last ninety days, insiders have sold 23,897 shares of company stock worth $8,164,561. 0.13% of the stock is owned by corporate insiders.

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.