Amalgamated Bank Trims Holdings in Visa Inc. (NYSE:V)

Amalgamated Bank reduced its stake in shares of Visa Inc. (NYSE:V) by 2.7% in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 338,280 shares of the credit-card processor’s stock after selling 9,546 shares during the quarter. Visa makes up approximately 0.8% of Amalgamated Bank’s investment portfolio, making the stock its 15th largest position. Amalgamated Bank’s holdings in Visa were worth $88,788,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also recently made changes to their positions in V. Alaethes Wealth LLC grew its holdings in shares of Visa by 0.4% during the fourth quarter. Alaethes Wealth LLC now owns 8,843 shares of the credit-card processor’s stock worth $2,302,000 after buying an additional 37 shares in the last quarter. Jessup Wealth Management Inc grew its stake in Visa by 0.7% during the 1st quarter. Jessup Wealth Management Inc now owns 5,051 shares of the credit-card processor’s stock valued at $1,410,000 after acquiring an additional 37 shares in the last quarter. Long Run Wealth Advisors LLC raised its holdings in Visa by 2.5% in the 1st quarter. Long Run Wealth Advisors LLC now owns 1,519 shares of the credit-card processor’s stock valued at $424,000 after acquiring an additional 37 shares during the last quarter. Cordatus Wealth Management LLC lifted its stake in Visa by 0.3% in the 1st quarter. Cordatus Wealth Management LLC now owns 10,793 shares of the credit-card processor’s stock worth $3,012,000 after purchasing an additional 37 shares in the last quarter. Finally, Garden State Investment Advisory Services LLC boosted its holdings in shares of Visa by 1.8% during the 4th quarter. Garden State Investment Advisory Services LLC now owns 2,191 shares of the credit-card processor’s stock worth $571,000 after purchasing an additional 38 shares during the last quarter. 82.15% of the stock is currently owned by institutional investors.

Visa Stock Performance

NYSE:V opened at $291.61 on Wednesday. Visa Inc. has a 52 week low of $227.78 and a 52 week high of $293.07. The company has a fifty day simple moving average of $269.30 and a two-hundred day simple moving average of $273.27. The company has a quick ratio of 1.37, a current ratio of 1.37 and a debt-to-equity ratio of 0.54. The company has a market cap of $533.34 billion, a price-to-earnings ratio of 32.58, a price-to-earnings-growth ratio of 2.01 and a beta of 0.96.

Visa (NYSE:V) last released its earnings results on Tuesday, July 23rd. The credit-card processor reported $2.42 EPS for the quarter, hitting the consensus estimate of $2.42. The firm had revenue of $8.90 billion during the quarter, compared to analysts’ expectations of $8.92 billion. Visa had a return on equity of 51.94% and a net margin of 54.72%. Visa’s revenue for the quarter was up 9.6% on a year-over-year basis. During the same period in the previous year, the firm posted $2.16 EPS. As a group, equities analysts anticipate that Visa Inc. will post 9.92 earnings per share 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 issued a $0.52 dividend. The ex-dividend date of this dividend was Friday, August 9th. This represents a $2.08 annualized dividend and a yield of 0.71%. Visa’s dividend payout ratio (DPR) is 23.24%.

Wall Street Analyst Weigh In

A number of brokerages recently commented on V. Bank of America lifted their price objective on Visa from $279.00 to $308.00 and gave the stock a “neutral” rating in a research report on Tuesday. Morgan Stanley lowered their price target on shares of Visa from $326.00 to $322.00 and set an “overweight” rating on the stock in a research report on Wednesday, July 24th. Royal Bank of Canada cut their price objective on shares of Visa from $315.00 to $311.00 and set an “outperform” rating for the company in a research report on Wednesday, July 24th. BNP Paribas upgraded shares of Visa from a “neutral” rating to an “outperform” rating and set a $325.00 target price on the stock in a report on Tuesday, September 3rd. Finally, William Blair upgraded shares of Visa to a “strong-buy” rating in a report on Tuesday, July 23rd. Six investment analysts have rated the stock with a hold rating, twenty-four have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $310.22.

Insider Buying and Selling

In related news, CEO Ryan Mcinerney sold 8,620 shares of the business’s stock in a transaction 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 completion of the transaction, the chief executive officer now owns 538 shares in the company, valued at $148,687.06. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. 0.19% of the stock is owned by insiders.

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.