Atticus Wealth Management LLC Increases Stock Holdings in Visa Inc. (NYSE:V)

Atticus Wealth Management LLC boosted its position in Visa Inc. (NYSE:V) by 2.6% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 3,818 shares of the credit-card processor’s stock after purchasing an additional 95 shares during the quarter. Atticus Wealth Management LLC’s holdings in Visa were worth $1,207,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors have also recently bought and sold shares of the company. Quarry LP lifted its holdings in shares of Visa by 310.5% during the 2nd quarter. Quarry LP now owns 468 shares of the credit-card processor’s stock worth $123,000 after acquiring an additional 354 shares during the last quarter. Advisory Alpha LLC lifted its stake in Visa by 18.0% during the second quarter. Advisory Alpha LLC now owns 4,055 shares of the credit-card processor’s stock worth $1,064,000 after purchasing an additional 620 shares during the last quarter. Granite Bay Wealth Management LLC boosted its holdings in shares of Visa by 90.8% in the 2nd quarter. Granite Bay Wealth Management LLC now owns 3,247 shares of the credit-card processor’s stock worth $852,000 after purchasing an additional 1,545 shares in the last quarter. RiverFront Investment Group LLC increased its position in shares of Visa by 9.8% during the 2nd quarter. RiverFront Investment Group LLC now owns 24,195 shares of the credit-card processor’s stock valued at $6,351,000 after purchasing an additional 2,168 shares during the last quarter. Finally, Strategic Investment Solutions Inc. IL purchased a new position in shares of Visa during the 2nd quarter valued at about $322,000. 82.15% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of research analysts have commented on V shares. Royal Bank of Canada increased their price target on shares of Visa from $311.00 to $322.00 and gave the company an “outperform” rating in a research report on Wednesday, October 30th. Keefe, Bruyette & Woods lifted their target price on shares of Visa from $335.00 to $360.00 and gave the stock an “outperform” rating in a research report on Monday, December 9th. Seaport Res Ptn upgraded shares of Visa from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, January 14th. Morgan Stanley lifted their price objective on Visa from $326.00 to $371.00 and gave the stock an “overweight” rating in a report on Wednesday, December 18th. Finally, Bank of America increased their target price on Visa from $314.00 to $331.00 and gave the company a “neutral” rating in a report on Wednesday, January 22nd. Four equities research analysts have rated the stock with a hold rating, twenty-three have given a buy rating and two have issued a strong buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $335.52.

Insider Buying and Selling

In related news, CEO Ryan Mcinerney sold 8,620 shares of Visa stock in a transaction dated Thursday, January 2nd. The stock was sold at an average price of $317.78, for a total value of $2,739,263.60. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Paul D. Fabara sold 2,171 shares of the company’s stock in a transaction dated Friday, November 22nd. The shares were sold at an average price of $307.97, for a total transaction of $668,602.87. Following the transaction, the insider now owns 17,894 shares in the company, valued at $5,510,815.18. This represents a 10.82 % decrease in their position. The disclosure for this sale can be found here. 0.13% of the stock is currently owned by company insiders.

Visa Price Performance

V stock opened at $336.45 on Thursday. The company has a debt-to-equity ratio of 0.55, a quick ratio of 1.28 and a current ratio of 1.28. The firm has a market capitalization of $626.76 billion, a price-to-earnings ratio of 34.58, a PEG ratio of 2.17 and a beta of 0.96. The firm has a 50 day moving average price of $315.85 and a 200-day moving average price of $291.78. Visa Inc. has a 52-week low of $252.70 and a 52-week high of $337.83.

Visa (NYSE:V) last released its earnings results on Tuesday, October 29th. The credit-card processor reported $2.71 EPS for the quarter, topping analysts’ consensus estimates of $2.58 by $0.13. The firm had revenue of $9.62 billion for the quarter, compared to analysts’ expectations of $9.49 billion. Visa had a return on equity of 53.16% and a net margin of 54.96%. The company’s quarterly revenue was up 11.7% on a year-over-year basis. During the same period in the prior year, the firm posted $2.33 earnings per share. Equities research analysts forecast that Visa Inc. will post 11.19 EPS for the current fiscal year.

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.