Atalanta Sosnoff Capital LLC lowered its position in shares of Visa Inc. (NYSE:V) by 1.5% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 591,618 shares of the credit-card processor’s stock after selling 8,729 shares during the period. Visa accounts for approximately 3.1% of Atalanta Sosnoff Capital LLC’s portfolio, making the stock its 7th largest position. Atalanta Sosnoff Capital LLC’s holdings in Visa were worth $131,783,000 at the end of the most recent quarter.
A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. Creative Financial Designs Inc. ADV boosted its stake in Visa by 2.0% in the second quarter. Creative Financial Designs Inc. ADV now owns 2,118 shares of the credit-card processor’s stock valued at $495,000 after acquiring an additional 42 shares in the last quarter. G&S Capital LLC raised its holdings in shares of Visa by 1.8% in the second quarter. G&S Capital LLC now owns 2,429 shares of the credit-card processor’s stock valued at $568,000 after buying an additional 43 shares during the last quarter. Founders Capital Management raised its holdings in shares of Visa by 2.9% in the second quarter. Founders Capital Management now owns 1,600 shares of the credit-card processor’s stock valued at $374,000 after buying an additional 45 shares during the last quarter. CapWealth Advisors LLC raised its holdings in shares of Visa by 4.4% in the second quarter. CapWealth Advisors LLC now owns 1,067 shares of the credit-card processor’s stock valued at $249,000 after buying an additional 45 shares during the last quarter. Finally, IPG Investment Advisors LLC raised its holdings in shares of Visa by 1.2% in the second quarter. IPG Investment Advisors LLC now owns 3,916 shares of the credit-card processor’s stock valued at $916,000 after buying an additional 45 shares during the last quarter. Institutional investors own 80.54% of the company’s stock.
Shares of V opened at $203.25 on Thursday. The firm’s 50-day moving average is $219.79 and its two-hundred day moving average is $228.86. The firm has a market capitalization of $395.92 billion, a P/E ratio of 36.10, a PEG ratio of 1.88 and a beta of 0.92. Visa Inc. has a twelve month low of $192.81 and a twelve month high of $252.67. The company has a current ratio of 1.75, a quick ratio of 2.00 and a debt-to-equity ratio of 0.58.
The firm also recently declared a quarterly dividend, which will be paid on Tuesday, December 7th. Stockholders of record on Friday, November 12th will be given a $0.375 dividend. The ex-dividend date is Wednesday, November 10th. This is a positive change from Visa’s previous quarterly dividend of $0.32. This represents a $1.50 annualized dividend and a dividend yield of 0.74%. Visa’s dividend payout ratio is currently 26.64%.
A number of equities research analysts have recently commented on V shares. Susquehanna Bancshares upped their target price on shares of Visa from $265.00 to $290.00 and gave the company a “positive” rating in a report on Wednesday, July 28th. Mizuho reduced their target price on shares of Visa from $275.00 to $255.00 and set a “buy” rating for the company in a report on Monday, November 1st. Wells Fargo & Company upped their target price on shares of Visa from $265.00 to $280.00 and gave the company an “overweight” rating in a report on Wednesday, July 28th. Wedbush increased their price target on shares of Visa from $250.00 to $270.00 and gave the stock an “outperform” rating in a report on Wednesday, July 28th. Finally, Zacks Investment Research cut shares of Visa from a “buy” rating to a “hold” rating and set a $227.00 price target for the company. in a report on Thursday, October 28th. Two analysts have rated the stock with a hold rating and twenty-five have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Buy” and a consensus price target of $270.11.
In related news, CEO Alfred F. Kelly, Jr. sold 9,000 shares of the firm’s stock in a transaction that occurred on Thursday, September 30th. The shares were sold at an average price of $227.58, for a total transaction of $2,048,220.00. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, President Ryan Mcinerney sold 11,193 shares of the firm’s stock in a transaction that occurred on Wednesday, September 1st. The stock was sold at an average price of $229.10, for a total transaction of $2,564,316.30. Following the sale, the president now owns 11,193 shares in the company, valued at approximately $2,564,316.30. The disclosure for this sale can be found here. Insiders sold 51,580 shares of company stock worth $11,376,866 over the last quarter. Company insiders own 0.19% of the company’s stock.
Visa, Inc engages in the provision of digital payment services. It also facilitates global commerce through the transfer of value and information among global network of consumers, merchants, financial institutions, businesses, strategic partners, and government entities. It offers debit card, credit card, prepaid products, commercial payment solutions, and global ATM.
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