Ipswich Investment Management Co. Inc. Has $4.18 Million Stake in Visa Inc. (V)
Ipswich Investment Management Co. Inc. decreased its position in Visa Inc. (NYSE:V) by 2.9% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 44,524 shares of the credit-card processor’s stock after selling 1,317 shares during the period. Visa makes up about 2.0% of Ipswich Investment Management Co. Inc.’s portfolio, making the stock its 18th largest position. Ipswich Investment Management Co. Inc.’s holdings in Visa were worth $4,175,000 as of its most recent SEC filing.
Other institutional investors have also recently made changes to their positions in the company. Mercer Capital Advisers Inc. increased its position in shares of Visa by 2.2% in the first quarter. Mercer Capital Advisers Inc. now owns 1,167 shares of the credit-card processor’s stock worth $104,000 after buying an additional 25 shares in the last quarter. Mascoma Wealth Management LLC bought a new position in shares of Visa during the second quarter worth about $122,000. SpiderRock Advisors LLC increased its position in shares of Visa by 107.1% in the second quarter. SpiderRock Advisors LLC now owns 1,309 shares of the credit-card processor’s stock worth $124,000 after buying an additional 19,709 shares in the last quarter. Advantage Investment Management LLC increased its position in shares of Visa by 27.4% in the first quarter. Advantage Investment Management LLC now owns 1,462 shares of the credit-card processor’s stock worth $130,000 after buying an additional 314 shares in the last quarter. Finally, Delta Asset Management LLC TN increased its position in shares of Visa by 2.5% in the first quarter. Delta Asset Management LLC TN now owns 1,541 shares of the credit-card processor’s stock worth $137,000 after buying an additional 38 shares in the last quarter. Institutional investors own 82.29% of the company’s stock.
Shares of Visa Inc. (NYSE:V) traded up 0.34% on Friday, reaching $102.51. 5,670,884 shares of the company’s stock were exchanged. Visa Inc. has a 12 month low of $75.17 and a 12 month high of $103.93. The company has a market capitalization of $234.38 billion, a P/E ratio of 38.12 and a beta of 0.94. The firm’s 50 day moving average price is $98.78 and its 200-day moving average price is $92.76.
Visa (NYSE:V) last issued its earnings results on Thursday, July 20th. The credit-card processor reported $0.86 earnings per share for the quarter, beating analysts’ consensus estimates of $0.81 by $0.05. The company had revenue of $4.57 billion for the quarter, compared to the consensus estimate of $4.36 billion. Visa had a return on equity of 30.95% and a net margin of 36.53%. The firm’s quarterly revenue was up 25.8% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.69 EPS. On average, equities analysts anticipate that Visa Inc. will post $3.43 EPS for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Tuesday, September 5th. Stockholders of record on Friday, August 18th will be issued a $0.165 dividend. The ex-dividend date of this dividend is Wednesday, August 16th. This represents a $0.66 dividend on an annualized basis and a dividend yield of 0.64%. Visa’s dividend payout ratio is 24.54%.
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V has been the subject of a number of research analyst reports. CIBC increased their price target on shares of Visa from $95.00 to $100.00 and gave the company an “outperform” rating in a report on Wednesday, April 26th. Zacks Investment Research upgraded shares of Visa from a “hold” rating to a “buy” rating and set a $106.00 price target for the company in a report on Monday, May 29th. Deutsche Bank AG increased their price target on shares of Visa from $124.00 to $150.00 and gave the company a “buy” rating in a report on Monday, July 10th. Vetr downgraded shares of Visa from a “hold” rating to a “sell” rating and set a $92.84 price target for the company. in a report on Monday, June 5th. Finally, Cowen and Company reiterated an “outperform” rating and issued a $105.00 price target (up previously from $100.00) on shares of Visa in a report on Sunday, April 23rd. Four investment analysts have rated the stock with a hold rating, twenty-six have given a buy rating and two have issued a strong buy rating to the company. The company currently has a consensus rating of “Buy” and a consensus target price of $104.56.
In other news, EVP Tullier Kelly Mahon sold 29,772 shares of the company’s stock in a transaction dated Thursday, July 27th. The stock was sold at an average price of $100.91, for a total value of $3,004,292.52. Following the transaction, the executive vice president now owns 17,360 shares in the company, valued at approximately $1,751,797.60. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. 0.14% of the stock is owned by corporate insiders.
Visa Company Profile
Visa Inc (Visa) is a payments technology company that connects consumers, merchants, financial institutions, businesses, strategic partners and government entities to electronic payments. The Company operates through payment services segment. The Company enables global commerce through the transfer of value and information among the participants.
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