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

Amalgamated Bank reduced its holdings in Visa Inc. (NYSE:V) by 0.6% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 374,893 shares of the credit-card processor’s stock after selling 2,352 shares during the period. Visa comprises 1.0% of Amalgamated Bank’s holdings, making the stock its 13th largest position. Amalgamated Bank’s holdings in Visa were worth $118,481,000 as of its most recent SEC filing.

Other institutional investors also recently bought and sold shares of the company. Avalon Capital Management raised its holdings in shares of Visa by 0.6% during the fourth quarter. Avalon Capital Management now owns 6,543 shares of the credit-card processor’s stock valued at $2,068,000 after acquiring an additional 39 shares during the last quarter. FourThought Financial Partners LLC increased its position in shares of Visa by 1.3% during the fourth quarter. FourThought Financial Partners LLC now owns 63,709 shares of the credit-card processor’s stock worth $20,135,000 after purchasing an additional 821 shares in the last quarter. Twin Peaks Wealth Advisors LLC raised its stake in Visa by 8.4% in the 4th quarter. Twin Peaks Wealth Advisors LLC now owns 1,568 shares of the credit-card processor’s stock valued at $496,000 after purchasing an additional 121 shares during the last quarter. Commonwealth Retirement Investments LLC lifted its holdings in Visa by 2.3% in the 4th quarter. Commonwealth Retirement Investments LLC now owns 9,456 shares of the credit-card processor’s stock valued at $2,988,000 after purchasing an additional 213 shares in the last quarter. Finally, Fairhaven Wealth Management LLC boosted its stake in Visa by 0.3% during the 4th quarter. Fairhaven Wealth Management LLC now owns 20,683 shares of the credit-card processor’s stock worth $6,537,000 after purchasing an additional 58 shares during the last quarter. 82.15% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In related news, CAO Peter M. Andreski sold 2,332 shares of the firm’s stock in a transaction that occurred on Friday, February 7th. The shares were sold at an average price of $349.62, for a total value of $815,313.84. Following the sale, the chief accounting officer now owns 4,488 shares of the company’s stock, valued at $1,569,094.56. This trade represents a 34.19 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Tullier Kelly Mahon sold 33,741 shares of Visa stock in a transaction that occurred on 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 completion of the transaction, the insider now owns 36,566 shares of the company’s stock, valued at $12,789,689.82. This represents a 47.99 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 55,885 shares of company stock worth $19,161,447 in the last ninety days. 0.13% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

A number of equities research analysts have recently commented on V shares. Royal Bank of Canada increased their target price 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. Jefferies Financial Group increased their price objective on shares of Visa from $320.00 to $330.00 and gave the company a “buy” rating in a report on Wednesday, October 30th. Bank of America boosted their target price on Visa from $331.00 to $363.00 and gave the stock a “neutral” rating in a report on Friday, January 31st. Morgan Stanley upped their price target on Visa from $326.00 to $371.00 and gave the company an “overweight” rating in a research report on Wednesday, December 18th. Finally, Piper Sandler reiterated an “overweight” rating and set a $383.00 price objective (up previously from $368.00) on shares of Visa in a research report on Friday, January 31st. Six research analysts have rated the stock with a hold rating, twenty-three have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $353.96.

Visa Stock Down 0.4 %

NYSE:V opened at $350.61 on Thursday. Visa Inc. has a 52 week low of $252.70 and a 52 week high of $357.15. The company has a quick ratio of 1.12, a current ratio of 1.12 and a debt-to-equity ratio of 0.45. The stock’s fifty day moving average is $331.31 and its two-hundred day moving average is $304.27. The stock has a market capitalization of $651.36 billion, a price-to-earnings ratio of 35.34, a price-to-earnings-growth ratio of 2.33 and a beta of 0.97.

Visa (NYSE:V) last announced its 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%. Research analysts anticipate that Visa Inc. will post 11.3 EPS for the current year.

Visa Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, March 3rd. Investors of record on Tuesday, February 11th will be paid a dividend of $0.59 per share. This represents a $2.36 annualized dividend and a yield of 0.67%. The ex-dividend date of this dividend is Tuesday, February 11th. Visa’s payout ratio is currently 23.79%.

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.