Atlantic Union Bankshares Corp Has $15.14 Million Stock Position in Visa Inc. (NYSE:V)

Atlantic Union Bankshares Corp cut its stake in Visa Inc. (NYSE:V - Free Report) by 2.3% in the 4th quarter, according to the company in its most recent disclosure 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 quarter. Visa accounts for about 0.9% of Atlantic Union Bankshares Corp's portfolio, making the stock its 28th biggest position. Atlantic Union Bankshares Corp's holdings in Visa were worth $15,143,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Peterson Financial Group Inc. purchased a new stake in shares of Visa during the third quarter valued at approximately $26,000. Decker Retirement Planning Inc. purchased a new stake in shares of Visa during the fourth quarter valued at approximately $26,000. Bradley & Co. Private Wealth Management LLC purchased a new stake in shares of Visa during the fourth quarter valued at approximately $27,000. POM Investment Strategies LLC increased its position in shares of Visa by 48.5% during the fourth quarter. POM Investment Strategies LLC now owns 98 shares of the credit-card processor's stock valued at $31,000 after acquiring an additional 32 shares during the last quarter. Finally, Modus Advisors LLC purchased a new stake in shares of Visa during the fourth quarter valued at approximately $32,000. 82.15% of the stock is owned by hedge funds and other institutional investors.

Visa Stock Up 0.5 %

NYSE V opened at $345.79 on Friday. The company has a debt-to-equity ratio of 0.45, a current ratio of 1.12 and a quick ratio of 1.12. The stock has a market capitalization of $642.41 billion, a PE ratio of 34.86, a PEG ratio of 2.33 and a beta of 0.95. Visa Inc. has a 1 year low of $252.70 and a 1 year high of $366.54. The business's 50-day moving average is $336.18 and its 200 day moving average is $308.35.

Remove Ads

Visa (NYSE:V - Get Free Report) last posted its earnings results on Thursday, January 30th. The credit-card processor reported $2.75 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.66 by $0.09. Visa had a return on equity of 54.79% and a net margin of 54.27%. Sell-side analysts forecast that Visa Inc. will post 11.3 earnings per share for the current year.

Visa Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, March 3rd. Investors of record on Tuesday, February 11th were paid a $0.59 dividend. The ex-dividend date of this dividend was Tuesday, February 11th. This represents a $2.36 annualized dividend and a dividend yield of 0.68%. Visa's payout ratio is presently 23.79%.

Insider Buying and Selling

In other Visa news, CEO Ryan Mcinerney sold 8,620 shares of Visa stock in a transaction that occurred on Monday, March 3rd. The stock was sold at an average price of $363.00, for a total transaction of $3,129,060.00. Following the sale, the chief executive officer now directly owns 537 shares of the company's stock, valued at approximately $194,931. The trade was a 94.14 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, General Counsel Julie B. Rottenberg sold 2,572 shares of the business's stock in a transaction that occurred on Monday, February 3rd. The stock was sold at an average price of $340.00, for a total value of $874,480.00. Following the completion of the sale, the general counsel now directly owns 11,925 shares in the company, valued at approximately $4,054,500. This represents a 17.74 % 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 over the last ninety days. 0.13% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

Several brokerages have weighed in on V. Bank of America increased their price objective on Visa from $331.00 to $363.00 and gave the company a "neutral" rating in a report on Friday, January 31st. Keefe, Bruyette & Woods reissued a "hold" rating on shares of Visa in a report on Thursday, February 13th. Seaport Res Ptn raised Visa from a "hold" rating to a "strong-buy" rating in a report on Tuesday, January 14th. The Goldman Sachs Group raised their price target on Visa from $346.00 to $384.00 and gave the stock a "buy" rating in a report on Friday, January 31st. Finally, Citigroup reaffirmed a "neutral" rating on shares of Visa in a report on Thursday, February 13th. Six investment analysts have rated the stock with a hold rating, twenty-three have given a buy rating and one has issued a strong buy rating to the company's stock. Based on data from MarketBeat, the company has an average rating of "Moderate Buy" and an average target price of $353.96.

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.

Want to see what other hedge funds are holding V? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Visa Inc. (NYSE:V - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.