Amalgamated Bank Acquires 14,489 Shares of Visa Inc. (NYSE:V)

Amalgamated Bank raised its stake in Visa Inc. (NYSE:V - Free Report) by 3.9% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 389,382 shares of the credit-card processor's stock after purchasing an additional 14,489 shares during the period. Visa makes up approximately 1.2% of Amalgamated Bank's holdings, making the stock its 12th biggest position. Amalgamated Bank's holdings in Visa were worth $136,463,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently made changes to their positions in V. Norges Bank acquired a new position in shares of Visa during the fourth quarter worth approximately $5,171,271,000. GAMMA Investing LLC lifted its stake in shares of Visa by 38,416.3% during the first quarter. GAMMA Investing LLC now owns 14,761,375 shares of the credit-card processor's stock valued at $5,173,271,000 after acquiring an additional 14,723,050 shares during the period. Vanguard Group Inc. boosted its holdings in Visa by 4.6% in the fourth quarter. Vanguard Group Inc. now owns 159,405,343 shares of the credit-card processor's stock valued at $50,378,465,000 after acquiring an additional 7,079,706 shares during the last quarter. Raymond James Financial Inc. acquired a new stake in Visa in the fourth quarter worth about $1,955,403,000. Finally, Northern Trust Corp lifted its position in Visa by 18.0% during the 4th quarter. Northern Trust Corp now owns 18,260,714 shares of the credit-card processor's stock valued at $5,771,116,000 after purchasing an additional 2,785,707 shares during the period. Institutional investors own 82.15% of the company's stock.

Wall Street Analysts Forecast Growth

A number of analysts have recently commented on the company. William Blair reaffirmed an "outperform" rating on shares of Visa in a research note on Wednesday, April 30th. Oppenheimer raised their price objective on Visa from $390.00 to $391.00 and gave the stock an "outperform" rating in a research note on Wednesday. Jefferies Financial Group boosted their price objective on Visa from $400.00 to $410.00 and gave the company a "buy" rating in a research report on Tuesday, May 27th. Susquehanna reissued a "positive" rating on shares of Visa in a research note on Friday, March 21st. Finally, Evercore ISI began coverage on shares of Visa in a research report on Wednesday, April 9th. They issued an "in-line" rating and a $330.00 price objective on the stock. Five 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 stock. Based on data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $372.84.

Insider Activity at Visa

In related news, General Counsel Julie B. Rottenberg sold 2,575 shares of Visa stock in a transaction that occurred on Thursday, May 1st. The shares were sold at an average price of $345.58, for a total transaction of $889,868.50. Following the sale, the general counsel directly owned 11,925 shares in the company, valued at $4,121,041.50. This trade represents a 17.76% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Paul D. Fabara sold 46,214 shares of Visa stock in a transaction on Thursday, June 5th. The stock was sold at an average price of $370.00, for a total transaction of $17,099,180.00. Following the transaction, the insider owned 26,413 shares in the company, valued at approximately $9,772,810. This trade represents a 63.63% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 92,478 shares of company stock worth $33,717,733 in the last quarter. 0.13% of the stock is owned by insiders.

Visa Price Performance

V traded down $1.48 during trading on Wednesday, hitting $353.99. 5,130,608 shares of the stock traded hands, compared to its average volume of 6,860,270. The business has a 50 day moving average price of $354.48 and a 200 day moving average price of $340.57. The company has a debt-to-equity ratio of 0.45, a current ratio of 1.08 and a quick ratio of 1.08. Visa Inc. has a twelve month low of $252.70 and a twelve month high of $375.51. The company has a market cap of $653.17 billion, a price-to-earnings ratio of 35.58, a PEG ratio of 2.41 and a beta of 0.92.

Visa (NYSE:V - Get Free Report) last posted its quarterly earnings results on Tuesday, April 29th. The credit-card processor reported $2.76 earnings per share for the quarter, beating analysts' consensus estimates of $2.68 by $0.08. The company had revenue of $9.59 billion for the quarter, compared to the consensus estimate of $9.57 billion. Visa had a net margin of 52.86% and a return on equity of 56.28%. The firm's quarterly revenue was up 9.3% compared to the same quarter last year. During the same period last year, the company posted $2.51 EPS. Equities research analysts forecast that Visa Inc. will post 11.3 earnings per share for the current fiscal year.

Visa Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, June 2nd. Stockholders of record on Tuesday, May 13th were paid a $0.59 dividend. This represents a $2.36 annualized dividend and a dividend yield of 0.67%. The ex-dividend date was Tuesday, May 13th. Visa's dividend payout ratio is currently 23.72%.

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.