Visa Inc. (NYSE:V) Shares Acquired by Amica Mutual Insurance Co.

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Amica Mutual Insurance Co. lifted its holdings in Visa Inc. (NYSE:V – Get Rating) by 1.0% in the 3rd quarter, according to its most recent 13F filing with the SEC. The firm owned 65,019 shares of the credit-card processor’s stock after purchasing an additional 654 shares during the quarter. Visa comprises 1.6% of Amica Mutual Insurance Co.’s holdings, making the stock its 10th biggest position. Amica Mutual Insurance Co.’s holdings in Visa were worth $11,551,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also modified their holdings of the business. 1ST Source Bank raised its stake in Visa by 0.3% in the 2nd quarter. 1ST Source Bank now owns 14,266 shares of the credit-card processor’s stock valued at $2,809,000 after acquiring an additional 47 shares during the period. Austin Private Wealth LLC raised its stake in Visa by 1.4% in the 2nd quarter. Austin Private Wealth LLC now owns 3,522 shares of the credit-card processor’s stock valued at $693,000 after acquiring an additional 49 shares during the period. Copperleaf Capital LLC raised its stake in Visa by 0.6% in the 2nd quarter. Copperleaf Capital LLC now owns 7,968 shares of the credit-card processor’s stock valued at $1,569,000 after acquiring an additional 49 shares during the period. CNB Bank increased its position in Visa by 0.8% during the 2nd quarter. CNB Bank now owns 6,338 shares of the credit-card processor’s stock worth $1,248,000 after buying an additional 49 shares during the period. Finally, Sanders Morris Harris LLC increased its position in Visa by 0.6% during the 2nd quarter. Sanders Morris Harris LLC now owns 9,090 shares of the credit-card processor’s stock worth $1,802,000 after buying an additional 50 shares during the period. 81.87% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In other news, insider Rajat Taneja sold 25,627 shares of Visa stock in a transaction dated Friday, December 2nd. The stock was sold at an average price of $216.67, for a total transaction of $5,552,602.09. Following the sale, the insider now directly owns 232,112 shares of the company’s stock, valued at $50,291,707.04. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 0.21% of the company’s stock.

Analyst Upgrades and Downgrades

V has been the topic of several recent research reports. Morgan Stanley increased their price objective on Visa from $282.00 to $284.00 and gave the stock an “overweight” rating in a research report on Wednesday, October 26th. Barclays lowered their price objective on Visa from $271.00 to $264.00 and set an “overweight” rating on the stock in a research report on Thursday, October 27th. UBS Group lowered their price objective on Visa from $290.00 to $287.00 and set a “buy” rating on the stock in a research report on Thursday, December 15th. Redburn Partners initiated coverage on Visa in a research report on Tuesday, November 29th. They set a “sell” rating on the stock. Finally, Robert W. Baird increased their price objective on Visa from $240.00 to $250.00 in a research report on Wednesday, October 26th. One equities research analyst has rated the stock with a sell rating, four have given a hold rating and twenty-one have issued a buy rating to the company’s stock. According to MarketBeat, Visa currently has an average rating of “Moderate Buy” and an average price target of $248.69.

Visa Stock Performance

NYSE:V opened at $207.76 on Monday. The stock’s 50-day simple moving average is $207.10 and its 200 day simple moving average is $202.12. The firm has a market capitalization of $391.31 billion, a PE ratio of 29.72, a price-to-earnings-growth ratio of 1.67 and a beta of 0.95. The company has a quick ratio of 1.45, a current ratio of 1.45 and a debt-to-equity ratio of 0.61. Visa Inc. has a twelve month low of $174.60 and a twelve month high of $235.85.

Visa (NYSE:V – Get Rating) last released its quarterly earnings data on Tuesday, October 25th. The credit-card processor reported $1.93 earnings per share for the quarter, beating the consensus estimate of $1.86 by $0.07. The business had revenue of $7.79 billion for the quarter, compared to analyst estimates of $7.55 billion. Visa had a return on equity of 48.56% and a net margin of 51.03%. On average, analysts anticipate that Visa Inc. will post 8.28 EPS for the current fiscal year.

Visa announced that its Board of Directors has approved a share buyback plan on Tuesday, October 25th that permits the company to buyback $12.00 billion in outstanding shares. This buyback authorization permits the credit-card processor to repurchase up to 3.1% of its shares through open market purchases. Shares buyback plans are typically a sign that the company’s management believes its stock is undervalued.

Visa Cuts Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, January 3rd. Stockholders of record on Friday, December 16th will be paid a dividend of $0.395 per share. This represents a $1.58 dividend on an annualized basis and a dividend yield of 0.76%. The ex-dividend date is Thursday, December 15th. Visa’s payout ratio is 25.75%.

About Visa

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Visa Inc operates as a payments technology company worldwide. 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, click to pay; Visa Direct, a real-time payments network; Visa B2B Connect, a multilateral B2B cross-border payments network; Visa Treasury as a Service, a cross-border consumer payments business; 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.

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Institutional Ownership by Quarter for Visa (NYSE:V)



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