Amalgamated Bank Sells 23,720 Shares of Visa Inc. (NYSE:V)

Amalgamated Bank reduced its stake in Visa Inc. (NYSE:V) by 5.6% in the fourth quarter, Holdings Channel.com reports. The institutional investor owned 399,320 shares of the credit-card processor’s stock after selling 23,720 shares during the period. Visa comprises 0.8% of Amalgamated Bank’s holdings, making the stock its 14th largest position. Amalgamated Bank’s holdings in Visa were worth $103,963,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently modified their holdings of V. Altshuler Shaham Ltd purchased a new position in Visa in the third quarter worth about $25,000. O Brien Wealth Partners LLC bought a new position in shares of Visa during the fourth quarter valued at $32,000. Valued Wealth Advisors LLC bought a new stake in Visa in the 4th quarter worth about $37,000. Stuart Chaussee & Associates Inc. lifted its position in Visa by 66.2% during the fourth quarter. Stuart Chaussee & Associates Inc. now owns 236 shares of the credit-card processor’s stock valued at $61,000 after purchasing an additional 94 shares during the period. Finally, Macroview Investment Management LLC lifted its holdings in shares of Visa by 1,019.2% during the 3rd quarter. Macroview Investment Management LLC now owns 291 shares of the credit-card processor’s stock valued at $67,000 after buying an additional 265 shares during the period. 82.15% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

V has been the topic of a number of recent research reports. Raymond James increased their target price on Visa from $287.00 to $311.00 and gave the company an “outperform” rating in a report on Friday, January 26th. KeyCorp raised their price objective on shares of Visa from $275.00 to $300.00 and gave the stock an “overweight” rating in a report on Monday, January 8th. TD Cowen initiated coverage on shares of Visa in a research report on Thursday, April 11th. They issued a “buy” rating and a $320.00 price target on the stock. UBS Group lifted their price target on shares of Visa from $315.00 to $325.00 and gave the stock a “buy” rating in a research note on Wednesday, April 24th. Finally, Keefe, Bruyette & Woods upped their price objective on Visa from $305.00 to $315.00 and gave the stock an “outperform” rating in a research note on Friday, January 26th. Five research analysts have rated the stock with a hold rating and twenty have given a buy rating to the company’s stock. Based on data from MarketBeat, Visa presently has an average rating of “Moderate Buy” and an average target price of $303.00.

Insider Buying and Selling

In related news, CEO Ryan Mcinerney sold 8,200 shares of the business’s stock in a transaction on Monday, April 1st. The stock was sold at an average price of $280.36, for a total transaction of $2,298,952.00. Following the completion of the transaction, the chief executive officer now owns 538 shares in the company, valued at approximately $150,833.68. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. In related news, CEO Ryan Mcinerney sold 8,200 shares of Visa stock in a transaction dated Monday, April 1st. The shares were sold at an average price of $280.36, for a total transaction of $2,298,952.00. Following the completion of the sale, the chief executive officer now owns 538 shares in the company, valued at approximately $150,833.68. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Lloyd Carney sold 909 shares of the business’s stock in a transaction that occurred on Friday, April 26th. The shares were sold at an average price of $275.55, for a total value of $250,474.95. Following the completion of the sale, the director now owns 2,591 shares of the company’s stock, valued at approximately $713,950.05. The disclosure for this sale can be found here. Insiders have sold 11,724 shares of company stock valued at $3,278,698 in the last ninety days. 0.19% of the stock is owned by company insiders.

Visa Trading Up 0.1 %

NYSE V traded up $0.22 during trading hours on Thursday, hitting $267.54. 2,916,672 shares of the company were exchanged, compared to its average volume of 5,899,863. Visa Inc. has a 52 week low of $216.14 and a 52 week high of $290.96. The company has a quick ratio of 1.40, a current ratio of 1.40 and a debt-to-equity ratio of 0.53. The stock has a 50-day moving average price of $278.79 and a 200 day moving average price of $265.21. The stock has a market cap of $491.34 billion, a PE ratio of 29.87, a price-to-earnings-growth ratio of 1.84 and a beta of 0.95.

Visa (NYSE:V) last released its earnings results on Tuesday, April 23rd. The credit-card processor reported $2.51 earnings per share for the quarter, beating the consensus estimate of $2.43 by $0.08. The firm had revenue of $8.78 billion for the quarter, compared to the consensus estimate of $8.62 billion. Visa had a return on equity of 51.23% and a net margin of 53.87%. The company’s revenue for the quarter was up 9.9% compared to the same quarter last year. During the same quarter in the previous year, the company posted $2.09 EPS. Analysts forecast that Visa Inc. will post 9.93 earnings per share for the current fiscal year.

Visa Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, June 3rd. Investors of record on Friday, May 17th will be issued a dividend of $0.52 per share. The ex-dividend date of this dividend is Thursday, May 16th. This represents a $2.08 annualized dividend and a yield of 0.78%. Visa’s payout ratio is 23.24%.

Visa 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.