Ipswich Investment Management Co. Inc. Has $8.73 Million Holdings in Visa Inc. (NYSE:V)

Ipswich Investment Management Co. Inc. raised its holdings in Visa Inc. (NYSE:V) by 2.3% in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 27,618 shares of the credit-card processor’s stock after purchasing an additional 615 shares during the quarter. Visa makes up about 2.1% of Ipswich Investment Management Co. Inc.’s investment portfolio, making the stock its 10th largest position. Ipswich Investment Management Co. Inc.’s holdings in Visa were worth $8,729,000 at the end of the most recent quarter.

Several other institutional investors have also recently bought and sold shares of the business. Swedbank AB increased its stake in shares of Visa by 10.7% in the 3rd quarter. Swedbank AB now owns 2,059,111 shares of the credit-card processor’s stock valued at $566,153,000 after buying an additional 199,440 shares during the period. Howard Capital Management Group LLC increased its stake in shares of Visa by 0.6% in the 3rd quarter. Howard Capital Management Group LLC now owns 106,355 shares of the credit-card processor’s stock valued at $29,242,000 after buying an additional 610 shares during the period. Heritage Oak Wealth Advisors LLC acquired a new stake in shares of Visa in the 3rd quarter valued at $368,000. Ballentine Partners LLC increased its stake in shares of Visa by 11.6% in the 3rd quarter. Ballentine Partners LLC now owns 37,096 shares of the credit-card processor’s stock valued at $10,199,000 after buying an additional 3,864 shares during the period. Finally, Heritage Financial Services LLC acquired a new stake in shares of Visa in the 3rd quarter valued at $205,000. Institutional investors own 82.15% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms have recently commented on V. Piper Sandler reissued an “overweight” rating and issued a $383.00 target price (up from $368.00) on shares of Visa in a research note on Friday, January 31st. Jefferies Financial Group lifted their target price on Visa from $320.00 to $330.00 and gave the company a “buy” rating in a research note on Wednesday, October 30th. JPMorgan Chase & Co. lifted their price objective on Visa from $340.00 to $375.00 and gave the stock an “overweight” rating in a research note on Friday, January 31st. Keefe, Bruyette & Woods reaffirmed a “hold” rating on shares of Visa in a research note on Thursday, February 13th. Finally, Royal Bank of Canada lifted their price objective on Visa from $311.00 to $322.00 and gave the stock an “outperform” rating in a research note on Wednesday, October 30th. Six equities research analysts have rated the stock with a hold rating, twenty-three have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $353.96.

Visa Stock Performance

Shares of Visa stock opened at $348.27 on Monday. The firm has a market cap of $647.01 billion, a price-to-earnings ratio of 35.11, a price-to-earnings-growth ratio of 2.33 and a beta of 0.97. The stock’s 50-day moving average is $329.14 and its 200-day moving average is $302.66. Visa Inc. has a one year low of $252.70 and a one year high of $357.15. The company has a debt-to-equity ratio of 0.45, a current ratio of 1.12 and a quick ratio of 1.12.

Visa (NYSE:V) last issued its quarterly earnings results on Thursday, January 30th. The credit-card processor reported $2.75 EPS for the quarter, beating analysts’ consensus estimates of $2.66 by $0.09. Visa had a return on equity of 54.79% and a net margin of 54.27%. Equities analysts predict that Visa Inc. will post 11.3 earnings per share for the current fiscal year.

Visa Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, March 3rd. Investors of record on Tuesday, February 11th will be issued a dividend of $0.59 per share. The ex-dividend date is Tuesday, February 11th. This represents a $2.36 annualized dividend and a yield of 0.68%. Visa’s payout ratio is presently 23.79%.

Insider Buying and Selling

In related news, insider Tullier Kelly Mahon sold 33,741 shares of the company’s stock in a transaction dated Friday, February 7th. The stock was sold at an average price of $349.77, for a total transaction of $11,801,589.57. Following the sale, the insider now owns 36,566 shares in the company, valued at approximately $12,789,689.82. This represents a 47.99 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CEO Ryan Mcinerney sold 8,620 shares of the company’s 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 disclosure for this sale can be found here. Over the last quarter, insiders have sold 55,885 shares of company stock worth $19,161,447. Corporate insiders own 0.13% of the company’s stock.

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.