Visa Inc. (NYSE:V) Shares Sold by Amalgamated Bank

Amalgamated Bank lessened its stake in Visa Inc. (NYSE:V) by 2.7% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 338,280 shares of the credit-card processor’s stock after selling 9,546 shares during the period. Visa accounts for approximately 0.8% of Amalgamated Bank’s portfolio, making the stock its 15th largest position. Amalgamated Bank’s holdings in Visa were worth $88,788,000 at the end of the most recent reporting period.

Other hedge funds also recently made changes to their positions in the company. Livelsberger Financial Advisory purchased a new stake in Visa in the 4th quarter valued at $25,000. Westend Capital Management LLC acquired a new position in Visa in the first quarter valued at $25,000. POM Investment Strategies LLC raised its holdings in shares of Visa by 970.0% in the second quarter. POM Investment Strategies LLC now owns 107 shares of the credit-card processor’s stock valued at $28,000 after buying an additional 97 shares during the last quarter. Frank Rimerman Advisors LLC acquired a new stake in shares of Visa during the fourth quarter worth about $33,000. Finally, TruNorth Capital Management LLC grew its holdings in shares of Visa by 211.9% during the second quarter. TruNorth Capital Management LLC now owns 131 shares of the credit-card processor’s stock worth $34,000 after buying an additional 89 shares during the last quarter. Hedge funds and other institutional investors own 82.15% of the company’s stock.

Insiders Place Their Bets

In related news, CEO Ryan Mcinerney sold 8,620 shares of the company’s stock in a transaction that occurred on Tuesday, September 3rd. The shares were sold at an average price of $276.37, for a total transaction of $2,382,309.40. Following the transaction, the chief executive officer now owns 538 shares of the company’s stock, valued at $148,687.06. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. 0.19% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

A number of analysts have weighed in on V shares. Piper Sandler decreased their price objective on Visa from $322.00 to $319.00 and set an “overweight” rating for the company in a research report on Wednesday, July 24th. Jefferies Financial Group decreased their price target on Visa from $325.00 to $300.00 and set a “buy” rating for the company in a report on Wednesday, July 24th. The Goldman Sachs Group reissued a “buy” rating and issued a $317.00 price objective on shares of Visa in a research note on Thursday, September 12th. Macquarie restated an “outperform” rating and issued a $300.00 target price on shares of Visa in a research note on Wednesday, July 24th. Finally, Bank of America boosted their price target on shares of Visa from $279.00 to $308.00 and gave the stock a “neutral” rating in a research note on Tuesday. Six analysts have rated the stock with a hold rating, twenty-four have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $310.22.

Visa Stock Up 0.4 %

Shares of NYSE V opened at $291.61 on Wednesday. The firm’s 50-day moving average is $269.30 and its two-hundred day moving average is $273.27. The company has a market capitalization of $533.34 billion, a PE ratio of 32.58, a price-to-earnings-growth ratio of 2.01 and a beta of 0.96. Visa Inc. has a 12-month low of $227.78 and a 12-month high of $293.07. The company has a debt-to-equity ratio of 0.54, a current ratio of 1.37 and a quick ratio of 1.37.

Visa (NYSE:V) last posted its earnings results on Tuesday, July 23rd. The credit-card processor reported $2.42 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $2.42. Visa had a return on equity of 51.94% and a net margin of 54.72%. The firm had revenue of $8.90 billion for the quarter, compared to analyst estimates of $8.92 billion. During the same quarter in the prior year, the company earned $2.16 EPS. Visa’s revenue was up 9.6% on a year-over-year basis. Equities analysts anticipate that Visa Inc. will post 9.92 EPS for the current fiscal year.

Visa Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, September 3rd. Investors of record on Friday, August 9th were paid a $0.52 dividend. This represents a $2.08 annualized dividend and a yield of 0.71%. The ex-dividend date was Friday, August 9th. 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.