Atalanta Sosnoff Capital LLC Lowers Position in Visa Inc. $V

Atalanta Sosnoff Capital LLC decreased its holdings in shares of Visa Inc. (NYSE:V) by 21.0% during the second quarter, according to its most recent filing with the SEC. The firm owned 977 shares of the credit-card processor’s stock after selling 260 shares during the period. Atalanta Sosnoff Capital LLC’s holdings in Visa were worth $347,000 at the end of the most recent reporting period.

Several other large investors have also modified their holdings of the business. Keystone Global Partners LLC purchased a new position in Visa during the first quarter valued at approximately $26,000. Family Legacy Financial Solutions LLC bought a new stake in Visa during the 2nd quarter valued at $28,000. Harbor Asset Planning Inc. bought a new stake in Visa during the 2nd quarter valued at $29,000. Cranbrook Wealth Management LLC increased its holdings 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, Hoese & Co LLP bought a new position in shares of Visa in the 2nd quarter worth $36,000. Institutional investors own 82.15% of the company’s stock.

Visa Trading Up 1.4%

Shares of Visa stock opened at $328.24 on Monday. The firm’s 50 day simple moving average is $340.46 and its two-hundred day simple moving average is $347.90. The firm has a market capitalization of $597.97 billion, a price-to-earnings ratio of 32.15, a PEG ratio of 1.94 and a beta of 0.87. Visa Inc. has a 12-month low of $299.00 and a 12-month high of $375.51. The company has a current ratio of 1.08, a quick ratio of 1.08 and a debt-to-equity ratio of 0.53.

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, beating analysts’ consensus estimates of $2.97 by $0.01. Visa had a net margin of 50.15% and a return on equity of 60.31%. The firm had revenue of $10.72 billion for the quarter, compared to analyst estimates of $10.60 billion. During the same period in the previous year, the company earned $2.71 earnings per share. The business’s quarterly revenue was up 11.5% compared to the same quarter last year. Analysts predict that Visa Inc. will post 11.3 EPS for the current year.

Visa Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, December 1st. Stockholders of record on Wednesday, November 12th will be issued a $0.67 dividend. This is a boost from Visa’s previous quarterly dividend of $0.59. This represents a $2.68 dividend on an annualized basis and a dividend yield of 0.8%. The ex-dividend date of this dividend is Wednesday, November 12th. Visa’s dividend payout ratio is currently 26.25%.

Insider Activity

In other news, Director Lloyd Carney sold 900 shares of the firm’s stock in a transaction dated Tuesday, November 4th. The stock was sold at an average price of $336.48, for a total value of $302,832.00. Following the completion of the transaction, the director directly owned 2,468 shares in the company, valued at $830,432.64. This trade represents a 26.72% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, insider Paul D. Fabara sold 2,172 shares of Visa stock in a transaction dated Friday, November 21st. The stock was sold at an average price of $325.93, for a total value of $707,919.96. Following the sale, the insider directly owned 26,413 shares of the company’s stock, valued at $8,608,789.09. This trade represents a 7.60% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last three months, insiders have sold 24,042 shares of company stock valued at $8,175,152. Company insiders own 0.13% of the company’s stock.

Analyst Upgrades and Downgrades

V has been the subject of a number of analyst reports. KeyCorp restated an “overweight” rating and set a $405.00 price objective on shares of Visa in a research note on Wednesday, October 22nd. Barclays reissued an “overweight” rating and set a $408.00 price target (up from $396.00) on shares of Visa in a research report on Thursday, July 31st. Erste Group Bank downgraded shares of Visa from a “buy” rating to a “hold” rating in a research report on Monday, September 22nd. UBS Group set a $425.00 price objective on shares of Visa and gave the stock a “buy” rating in a research note on Wednesday, October 29th. Finally, Raymond James Financial reissued an “outperform” rating and set a $408.00 target price (up previously from $398.00) on shares of Visa in a research report on Wednesday, October 29th. Four investment analysts have rated the stock with a Strong Buy rating, seventeen have given a Buy rating and five have given a Hold rating to the company. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $400.00.

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.