Amalgamated Bank Has $103.72 Million Stock Holdings in Visa Inc. (NYSE:V)

Amalgamated Bank grew its position in Visa Inc. (NYSE:V) by 11.5% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 377,245 shares of the credit-card processor’s stock after acquiring an additional 38,965 shares during the quarter. Visa accounts for about 0.9% of Amalgamated Bank’s holdings, making the stock its 15th largest position. Amalgamated Bank’s holdings in Visa were worth $103,724,000 at the end of the most recent reporting period.

Several other institutional investors also recently modified their holdings of the company. POM Investment Strategies LLC lifted its stake in Visa by 970.0% during the second quarter. POM Investment Strategies LLC now owns 107 shares of the credit-card processor’s stock worth $28,000 after purchasing an additional 97 shares during the period. Reston Wealth Management LLC acquired a new stake in Visa in the 3rd quarter valued at $31,000. TruNorth Capital Management LLC grew its position in Visa by 211.9% in the second quarter. TruNorth Capital Management LLC now owns 131 shares of the credit-card processor’s stock valued at $34,000 after acquiring an additional 89 shares during the period. Bbjs Financial Advisors LLC bought a new stake in Visa in the second quarter valued at $35,000. Finally, CarsonAllaria Wealth Management Ltd. acquired a new position in Visa during the second quarter worth $35,000. Institutional investors and hedge funds own 82.15% of the company’s stock.

Insider Buying and Selling

In other news, CEO Ryan Mcinerney sold 8,620 shares of Visa stock in a transaction dated Tuesday, September 3rd. The stock was 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 in the company, valued at $148,687.06. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. 0.19% of the stock is currently owned by company insiders.

Visa Trading Up 0.5 %

NYSE:V opened at $293.36 on Wednesday. The firm has a market capitalization of $534.59 billion, a price-to-earnings ratio of 30.15, a PEG ratio of 1.96 and a beta of 0.95. Visa Inc. has a 1-year low of $240.97 and a 1-year high of $296.34. The business’s 50-day moving average price is $281.92 and its two-hundred day moving average price is $273.97. The company has a current ratio of 1.28, a quick ratio of 1.37 and a debt-to-equity ratio of 0.55.

Visa (NYSE:V) last released its quarterly earnings data on Tuesday, October 29th. The credit-card processor reported $2.71 earnings per share for the quarter, topping the consensus estimate of $2.58 by $0.13. Visa had a net margin of 54.96% and a return on equity of 53.16%. The business had revenue of $9.62 billion for the quarter, compared to analyst estimates of $9.49 billion. During the same quarter last year, the firm earned $2.33 EPS. Visa’s quarterly revenue was up 11.7% compared to the same quarter last year. On average, equities analysts expect that Visa Inc. will post 11.18 earnings per share for the current year.

Visa Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, December 2nd. Investors of record on Tuesday, November 12th will be given a $0.59 dividend. The ex-dividend date is Tuesday, November 12th. This represents a $2.36 dividend on an annualized basis and a dividend yield of 0.80%. This is a boost from Visa’s previous quarterly dividend of $0.52. Visa’s dividend payout ratio is currently 21.38%.

Analysts Set New Price Targets

Several equities research analysts have recently commented on V shares. StockNews.com upgraded shares of Visa from a “hold” rating to a “buy” rating in a research note on Friday, August 9th. Bank of America upped their price objective on shares of Visa from $279.00 to $308.00 and gave the stock a “neutral” rating in a research note on Tuesday, September 17th. Keefe, Bruyette & Woods upgraded shares of Visa from a “moderate buy” rating to a “strong-buy” rating in a research note on Tuesday, September 24th. Macquarie boosted their target price on Visa from $300.00 to $335.00 and gave the stock an “outperform” rating in a report on Wednesday, October 30th. Finally, Robert W. Baird lifted their price objective on Visa from $330.00 to $340.00 and gave the company an “outperform” rating in a research report on Wednesday, October 30th. Four analysts have rated the stock with a hold rating, twenty-four have issued a buy rating and two have issued a strong buy rating to the stock. According to MarketBeat.com, Visa currently has a consensus rating of “Moderate Buy” and a consensus price target of $321.74.

About Visa

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.