Atticus Wealth Management LLC Has $1 Million Stock Position in Visa Inc. (NYSE:V)

Atticus Wealth Management LLC cut its holdings in Visa Inc. (NYSE:V) by 3.0% during the 2nd quarter, HoldingsChannel reports. The fund owned 3,812 shares of the credit-card processor’s stock after selling 118 shares during the quarter. Atticus Wealth Management LLC’s holdings in Visa were worth $1,000,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also modified their holdings of the business. Nadler Financial Group Inc. grew its holdings in shares of Visa by 2.4% during the 4th quarter. Nadler Financial Group Inc. now owns 1,900 shares of the credit-card processor’s stock worth $495,000 after purchasing an additional 44 shares in the last quarter. Andrew Hill Investment Advisors Inc. bought a new stake in Visa during the fourth quarter worth about $3,427,000. Knights of Columbus Asset Advisors LLC grew its stake in Visa by 1.1% during the fourth quarter. Knights of Columbus Asset Advisors LLC now owns 75,421 shares of the credit-card processor’s stock worth $19,636,000 after buying an additional 795 shares in the last quarter. Hilltop National Bank bought a new position in Visa in the 1st quarter valued at about $1,212,000. Finally, TCI Wealth Advisors Inc. increased its holdings in Visa by 0.8% in the 4th quarter. TCI Wealth Advisors Inc. now owns 5,107 shares of the credit-card processor’s stock valued at $1,330,000 after buying an additional 40 shares during the period. 82.15% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several analysts recently issued reports on V shares. StockNews.com upgraded shares of Visa from a “hold” rating to a “buy” rating in a research report on Friday, August 9th. Piper Sandler reduced their target price on Visa from $322.00 to $319.00 and set an “overweight” rating on the stock in a report on Wednesday, July 24th. Citigroup lowered their price target on Visa from $321.00 to $319.00 and set a “buy” rating for the company in a report on Wednesday, July 24th. Evercore ISI reduced their price objective on Visa from $335.00 to $330.00 and set an “outperform” rating on the stock in a research note on Tuesday, June 25th. Finally, Mizuho lifted their target price on Visa from $265.00 to $275.00 and gave the company a “neutral” rating in a research report on Thursday, May 2nd. Six analysts have rated the stock with a hold rating, twenty-one have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $307.25.

Visa Stock Up 0.4 %

Shares of NYSE V traded up $1.12 during midday trading on Friday, hitting $267.92. 2,215,987 shares of the stock traded hands, compared to its average volume of 7,209,539. Visa Inc. has a one year low of $227.78 and a one year high of $290.96. The business has a 50 day moving average price of $266.63 and a two-hundred day moving average price of $273.64. The company has a debt-to-equity ratio of 0.54, a quick ratio of 1.37 and a current ratio of 1.37. The company has a market cap of $488.23 billion, a PE ratio of 29.78, a P/E/G ratio of 1.84 and a beta of 0.95.

Visa (NYSE:V) last released its quarterly earnings data on Tuesday, July 23rd. The credit-card processor reported $2.42 earnings per share for the quarter, hitting the consensus estimate of $2.42. The firm had revenue of $8.90 billion for the quarter, compared to the consensus estimate of $8.92 billion. Visa had a net margin of 54.72% and a return on equity of 51.94%. The business’s revenue was up 9.6% on a year-over-year basis. During the same quarter in the prior year, the company posted $2.16 earnings per share. On average, equities analysts predict that Visa Inc. will post 9.91 EPS for the current year.

Visa Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, September 3rd. Shareholders of record on Friday, August 9th will be paid a dividend of $0.52 per share. The ex-dividend date is Friday, August 9th. This represents a $2.08 dividend on an annualized basis and a yield of 0.78%. Visa’s dividend payout ratio (DPR) is currently 23.24%.

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.