Atlantic Union Bankshares Corp Sells 1,323 Shares of Visa Inc. (NYSE:V)

Atlantic Union Bankshares Corp lowered its stake in Visa Inc. (NYSE:V) by 5.7% in the 2nd quarter, according to its most recent disclosure with the SEC. The fund owned 21,902 shares of the credit-card processor’s stock after selling 1,323 shares during the quarter. Atlantic Union Bankshares Corp’s holdings in Visa were worth $5,201,000 at the end of the most recent quarter.

Other institutional investors have also recently made changes to their positions in the company. Selective Wealth Management Inc. purchased a new stake in shares of Visa during the second quarter worth about $2,937,000. Rempart Asset Management Inc. grew its position in shares of Visa by 0.9% in the 2nd quarter. Rempart Asset Management Inc. now owns 88,673 shares of the credit-card processor’s stock worth $21,058,000 after buying an additional 766 shares during the last quarter. Ferguson Wellman Capital Management Inc. increased its stake in shares of Visa by 1.0% during the second quarter. Ferguson Wellman Capital Management Inc. now owns 328,155 shares of the credit-card processor’s stock valued at $77,930,000 after buying an additional 3,298 shares during the period. Norway Savings Bank raised its holdings in shares of Visa by 5.0% during the second quarter. Norway Savings Bank now owns 3,246 shares of the credit-card processor’s stock valued at $771,000 after acquiring an additional 155 shares in the last quarter. Finally, Capital Investment Advisors LLC lifted its stake in Visa by 4.6% in the second quarter. Capital Investment Advisors LLC now owns 24,036 shares of the credit-card processor’s stock worth $5,708,000 after acquiring an additional 1,049 shares during the period. Hedge funds and other institutional investors own 81.35% of the company’s stock.

Visa Trading Up 1.5 %

Shares of NYSE:V opened at $244.64 on Tuesday. The company has a debt-to-equity ratio of 0.55, a current ratio of 1.49 and a quick ratio of 1.49. Visa Inc. has a 1 year low of $174.60 and a 1 year high of $250.06. The company has a market cap of $455.48 billion, a P/E ratio of 31.05, a PEG ratio of 1.81 and a beta of 0.95. The stock’s fifty day moving average price is $241.67 and its 200-day moving average price is $232.37.

Visa (NYSE:V) last posted its earnings results on Tuesday, July 25th. The credit-card processor reported $2.16 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.11 by $0.05. The business had revenue of $8.12 billion for the quarter, compared to analysts’ expectations of $8.06 billion. Visa had a net margin of 51.94% and a return on equity of 49.42%. The business’s revenue for the quarter was up 11.7% compared to the same quarter last year. During the same quarter in the prior year, the business earned $1.98 EPS. Sell-side analysts expect that Visa Inc. will post 8.65 earnings per share for the current year.

Visa Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, September 1st. Investors of record on Friday, August 11th were issued a $0.45 dividend. This represents a $1.80 annualized dividend and a yield of 0.74%. The ex-dividend date of this dividend was Thursday, August 10th. Visa’s dividend payout ratio is currently 22.84%.

Analyst Ratings Changes

Several equities research analysts have recently commented on the stock. Barclays raised their target price on shares of Visa from $272.00 to $287.00 and gave the stock an “overweight” rating in a research report on Monday, July 24th. Bank of America upped their target price on Visa from $270.00 to $275.00 in a report on Tuesday, July 18th. Mizuho restated a “neutral” rating and issued a $255.00 target price on shares of Visa in a research note on Tuesday, August 29th. Jefferies Financial Group upped their price target on Visa from $270.00 to $280.00 and gave the stock a “buy” rating in a research note on Wednesday, July 19th. Finally, Credit Suisse Group raised their price objective on Visa from $265.00 to $275.00 in a research report on Wednesday, July 26th. One investment analyst has rated the stock with a sell rating, one has given a hold rating and sixteen have given a buy rating to the company. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $273.77.

Insiders Place Their Bets

In other news, insider Rajat Taneja sold 15,800 shares of the firm’s stock in a transaction on Wednesday, September 13th. The stock was sold at an average price of $250.01, for a total value of $3,950,158.00. Following the transaction, the insider now directly owns 232,112 shares in the company, valued at approximately $58,030,321.12. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. In other Visa news, CEO Ryan Mcinerney sold 8,150 shares of the company’s stock in a transaction that occurred on Friday, September 1st. The shares were sold at an average price of $247.47, for a total transaction of $2,016,880.50. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Rajat Taneja sold 15,800 shares of the stock in a transaction that occurred on Wednesday, September 13th. The stock was sold at an average price of $250.01, for a total transaction of $3,950,158.00. Following the completion of the transaction, the insider now owns 232,112 shares in the company, valued at $58,030,321.12. The disclosure for this sale can be found here. In the last quarter, insiders sold 81,550 shares of company stock valued at $19,795,806. Company insiders own 0.21% of the company’s stock.

Visa Company Profile

Visa Inc operates as a payments technology company worldwide. 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, click to pay; Visa Direct, a real-time payments network; Visa B2B Connect, a multilateral B2B cross-border payments network; Visa Treasury as a Service, a cross-border consumer payments business; 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.