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

Atomi Financial Group Inc. grew its stake in Visa Inc. (NYSE:V) by 5.9% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 13,350 shares of the credit-card processor’s stock after acquiring an additional 747 shares during the quarter. Atomi Financial Group Inc.’s holdings in Visa were worth $3,670,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also made changes to their positions in the company. Westend Capital Management LLC purchased a new position in Visa during the 1st quarter worth $25,000. Livelsberger Financial Advisory purchased a new position in Visa during the 4th quarter worth $25,000. POM Investment Strategies LLC grew its stake in Visa by 970.0% during the 2nd quarter. POM Investment Strategies LLC now owns 107 shares of the credit-card processor’s stock worth $28,000 after buying an additional 97 shares during the last quarter. TruNorth Capital Management LLC grew its stake in Visa by 211.9% during the 2nd quarter. TruNorth Capital Management LLC now owns 131 shares of the credit-card processor’s stock worth $34,000 after buying an additional 89 shares during the last quarter. Finally, Abich Financial Wealth Management LLC grew its stake in Visa by 52.9% during the 1st quarter. Abich Financial Wealth Management LLC now owns 133 shares of the credit-card processor’s stock worth $37,000 after buying an additional 46 shares during the last quarter. 82.15% of the stock is currently owned by hedge funds and other institutional investors.

Visa Stock Performance

NYSE V opened at $274.96 on Wednesday. The stock has a market capitalization of $502.88 billion, a price-to-earnings ratio of 30.72, a PEG ratio of 1.92 and a beta of 0.96. Visa Inc. has a twelve month low of $228.03 and a twelve month high of $293.07. The company has a current ratio of 1.37, a quick ratio of 1.37 and a debt-to-equity ratio of 0.54. The stock has a 50-day moving average of $273.24 and a 200 day moving average of $272.74.

Visa (NYSE:V) last posted its quarterly earnings data on Tuesday, July 23rd. The credit-card processor reported $2.42 EPS for the quarter, hitting the consensus estimate of $2.42. Visa had a return on equity of 51.94% and a net margin of 54.72%. The company had revenue of $8.90 billion during the quarter, compared to analyst estimates of $8.92 billion. During the same period in the previous year, the business earned $2.16 EPS. Visa’s quarterly revenue was up 9.6% on a year-over-year basis. Sell-side analysts anticipate that Visa Inc. will post 9.92 EPS for the current fiscal year.

Visa Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, September 3rd. Shareholders of record on Friday, August 9th were paid a dividend of $0.52 per share. The ex-dividend date was Friday, August 9th. This represents a $2.08 annualized dividend and a yield of 0.76%. Visa’s dividend payout ratio (DPR) is currently 23.24%.

Wall Street Analysts Forecast Growth

V has been the topic of several research analyst reports. The Goldman Sachs Group reiterated a “buy” rating and set a $317.00 price target on shares of Visa in a research note on Thursday, September 12th. Evercore ISI dropped their price target on Visa from $335.00 to $330.00 and set an “outperform” rating on the stock in a research note on Tuesday, June 25th. Royal Bank of Canada dropped their price target on Visa from $315.00 to $311.00 and set an “outperform” rating on the stock in a research note on Wednesday, July 24th. Oppenheimer initiated coverage on Visa in a research note on Tuesday, October 1st. They set an “outperform” rating and a $318.00 price target on the stock. Finally, Morgan Stanley reiterated an “overweight” rating and set a $322.00 price target on shares of Visa in a research note on Wednesday, September 25th. Six analysts have rated the stock with a hold rating, twenty-three have assigned a buy rating and two have assigned a strong buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $312.04.

Insiders Place Their Bets

In other Visa news, CEO Ryan Mcinerney sold 8,620 shares of the business’s stock in a transaction that occurred on Tuesday, September 3rd. The stock was sold at an average price of $276.37, for a total transaction of $2,382,309.40. Following the completion of the sale, the chief executive officer now directly owns 538 shares in the company, valued at approximately $148,687.06. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 0.19% of the stock is owned by company 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.