Atlantic Union Bankshares Corp Decreases Stock Position in Visa Inc. (NYSE:V)

Atlantic Union Bankshares Corp reduced its position in Visa Inc. (NYSE:V) by 2.3% in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 47,915 shares of the credit-card processor’s stock after selling 1,119 shares during the period. Visa comprises approximately 0.9% of Atlantic Union Bankshares Corp’s holdings, making the stock its 28th largest position. Atlantic Union Bankshares Corp’s holdings in Visa were worth $15,143,000 at the end of the most recent quarter.

A number of other hedge funds also recently added to or reduced their stakes in the company. Decker Retirement Planning Inc. purchased a new stake in Visa during the 4th quarter valued at $26,000. Bradley & Co. Private Wealth Management LLC purchased a new stake in Visa during the 4th quarter valued at $27,000. Peterson Financial Group Inc. purchased a new stake in Visa during the 3rd quarter valued at $26,000. POM Investment Strategies LLC raised its stake in Visa by 48.5% during the 4th quarter. POM Investment Strategies LLC now owns 98 shares of the credit-card processor’s stock valued at $31,000 after buying an additional 32 shares during the last quarter. Finally, Modus Advisors LLC purchased a new stake in shares of Visa in the 4th quarter worth $32,000. 82.15% of the stock is currently owned by hedge funds and other institutional investors.

Visa Stock Up 0.5 %

Shares of NYSE V opened at $345.79 on Friday. The firm’s 50-day moving average price is $336.18 and its 200-day moving average price is $308.35. The company has a current ratio of 1.12, a quick ratio of 1.12 and a debt-to-equity ratio of 0.45. The stock has a market capitalization of $642.41 billion, a price-to-earnings ratio of 34.86, a P/E/G ratio of 2.33 and a beta of 0.95. Visa Inc. has a 12-month low of $252.70 and a 12-month high of $366.54.

Visa (NYSE:V) last posted its quarterly earnings data on Thursday, January 30th. The credit-card processor reported $2.75 earnings per share for the quarter, topping analysts’ consensus estimates of $2.66 by $0.09. Visa had a net margin of 54.27% and a return on equity of 54.79%. On average, equities research analysts anticipate that Visa Inc. will post 11.3 EPS for the current fiscal year.

Visa Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, March 3rd. Investors of record on Tuesday, February 11th were given a $0.59 dividend. This represents a $2.36 dividend on an annualized basis and a yield of 0.68%. The ex-dividend date of this dividend was Tuesday, February 11th. Visa’s dividend payout ratio (DPR) is currently 23.79%.

Insider Buying and Selling

In other news, General Counsel Julie B. Rottenberg sold 2,572 shares of the firm’s stock in a transaction that occurred on Monday, February 3rd. The shares were sold at an average price of $340.00, for a total transaction of $874,480.00. Following the transaction, the general counsel now directly owns 11,925 shares of the company’s stock, valued at approximately $4,054,500. This trade represents a 17.74 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Tullier Kelly Mahon sold 33,741 shares of the firm’s stock in a transaction that occurred on Friday, February 7th. The stock was sold at an average price of $349.77, for a total transaction of $11,801,589.57. Following the transaction, the insider now directly owns 36,566 shares in the company, valued at approximately $12,789,689.82. This trade represents a 47.99 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 64,505 shares of company stock valued at $22,290,507 in the last ninety days. 0.13% of the stock is owned by company insiders.

Analysts Set New Price Targets

Several equities research analysts have recently commented on the company. Oppenheimer restated an “outperform” rating on shares of Visa in a research note on Thursday, February 13th. Barclays upped their price objective on Visa from $361.00 to $396.00 and gave the stock an “overweight” rating in a research note on Monday, February 3rd. Raymond James restated an “outperform” rating and issued a $393.00 price objective (up from $374.00) on shares of Visa in a research note on Friday, January 31st. Keefe, Bruyette & Woods restated a “hold” rating on shares of Visa in a research note on Thursday, February 13th. Finally, Bank of America upped their price objective on Visa from $331.00 to $363.00 and gave the stock a “neutral” rating in a research note on Friday, January 31st. Six equities research analysts have rated the stock with a hold rating, twenty-three have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $353.96.

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.