Atomi Financial Group Inc. Increases Position in Visa Inc. (NYSE:V)

Atomi Financial Group Inc. increased its stake in shares of Visa Inc. (NYSE:V) by 6.0% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 9,787 shares of the credit-card processor’s stock after buying an additional 550 shares during the quarter. Atomi Financial Group Inc.’s holdings in Visa were worth $2,731,000 as of its most recent SEC filing.

Other large investors have also recently made changes to their positions in the company. Montag A & Associates Inc. raised its position in shares of Visa by 0.3% during the 1st quarter. Montag A & Associates Inc. now owns 78,422 shares of the credit-card processor’s stock worth $21,886,000 after purchasing an additional 242 shares during the last quarter. TCI Wealth Advisors Inc. grew its stake in Visa by 4.0% during the 1st quarter. TCI Wealth Advisors Inc. now owns 5,312 shares of the credit-card processor’s stock valued at $1,482,000 after acquiring an additional 205 shares in the last quarter. Primoris Wealth Advisors LLC grew its stake in Visa by 2.2% during the 1st quarter. Primoris Wealth Advisors LLC now owns 2,598 shares of the credit-card processor’s stock valued at $723,000 after acquiring an additional 55 shares in the last quarter. WealthPLAN Partners LLC grew its stake in Visa by 21.4% during the 1st quarter. WealthPLAN Partners LLC now owns 13,929 shares of the credit-card processor’s stock valued at $3,887,000 after acquiring an additional 2,451 shares in the last quarter. Finally, 49 Wealth Management LLC purchased a new stake in Visa during the 1st quarter valued at about $302,000. 82.15% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several analysts have recently weighed in on the stock. Robert W. Baird increased their price target on shares of Visa from $314.00 to $320.00 and gave the company an “outperform” rating in a research note on Wednesday, April 17th. Wedbush increased their price target on shares of Visa from $280.00 to $300.00 and gave the company an “outperform” rating in a research note on Wednesday, April 24th. Bank of America reaffirmed a “neutral” rating and set a $297.00 price objective (down previously from $305.00) on shares of Visa in a research report on Wednesday, July 10th. Macquarie increased their price objective on shares of Visa from $290.00 to $300.00 and gave the stock an “outperform” rating in a research report on Wednesday, April 24th. Finally, TD Cowen assumed coverage on shares of Visa in a research report on Thursday, April 11th. They set a “buy” rating and a $320.00 price objective for the company. Six investment analysts have rated the stock with a hold rating and twenty-one have issued a buy rating to the stock. Based on data from MarketBeat, Visa currently has an average rating of “Moderate Buy” and a consensus price target of $304.44.

Insiders Place Their Bets

In other Visa news, insider Paul D. Fabara sold 25,293 shares of the business’s stock in a transaction that occurred on Wednesday, May 15th. The shares were sold at an average price of $277.15, for a total transaction of $7,009,954.95. Following the completion of the sale, the insider now directly owns 17,894 shares in the company, valued at $4,959,322.10. The transaction was disclosed in a legal filing with the SEC, which is available through this link. In other news, insider Paul D. Fabara sold 25,293 shares of the company’s stock in a transaction on Wednesday, May 15th. The shares were sold at an average price of $277.15, for a total value of $7,009,954.95. Following the completion of the transaction, the insider now directly owns 17,894 shares in the company, valued at $4,959,322.10. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Lloyd Carney sold 909 shares of the company’s stock in a transaction on Friday, April 26th. The shares were sold at an average price of $275.55, for a total transaction of $250,474.95. Following the completion of the transaction, the director now owns 2,591 shares of the company’s stock, valued at $713,950.05. The disclosure for this sale can be found here. 0.19% of the stock is owned by insiders.

Visa Price Performance

V traded up $1.64 during midday trading on Monday, reaching $267.38. 2,413,491 shares of the company’s stock were exchanged, compared to its average volume of 6,839,605. The company has a debt-to-equity ratio of 0.53, a current ratio of 1.40 and a quick ratio of 1.40. The stock has a market capitalization of $489.02 billion, a PE ratio of 29.83, a P/E/G ratio of 1.85 and a beta of 0.95. The business’s 50-day moving average price is $272.82 and its 200 day moving average price is $274.11. Visa Inc. has a 1-year low of $227.68 and a 1-year high of $290.96.

Visa (NYSE:V) last announced its earnings results on Tuesday, April 23rd. The credit-card processor reported $2.51 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.43 by $0.08. The company had revenue of $8.78 billion during the quarter, compared to analysts’ expectations of $8.62 billion. Visa had a net margin of 53.87% and a return on equity of 51.23%. The firm’s quarterly revenue was up 9.9% compared to the same quarter last year. During the same quarter in the previous year, the business posted $2.09 earnings per share. As a group, equities analysts anticipate that Visa Inc. will post 9.94 EPS for the current fiscal year.

Visa Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Monday, June 3rd. Shareholders of record on Friday, May 17th were paid a dividend of $0.52 per share. The ex-dividend date was Thursday, May 16th. This represents a $2.08 annualized dividend and a yield of 0.78%. Visa’s dividend payout ratio is currently 23.24%.

About Visa

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.