Ipswich Investment Management Co. Inc. Has $7.43 Million Holdings in Visa Inc. (NYSE:V)

Ipswich Investment Management Co. Inc. lifted its stake in Visa Inc. (NYSE:V) by 1.5% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 27,003 shares of the credit-card processor’s stock after purchasing an additional 400 shares during the period. Visa accounts for 1.7% 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 $7,425,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. POM Investment Strategies LLC lifted its holdings 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 acquiring an additional 97 shares in the last quarter. Reston Wealth Management LLC acquired a new position in shares of Visa during the 3rd quarter worth about $31,000. TruNorth Capital Management LLC increased its holdings in shares of Visa by 211.9% during the 2nd quarter. TruNorth Capital Management LLC now owns 131 shares of the credit-card processor’s stock worth $34,000 after acquiring an additional 89 shares during the last quarter. Bbjs Financial Advisors LLC bought a new position in shares of Visa during the second quarter worth approximately $35,000. Finally, CarsonAllaria Wealth Management Ltd. acquired a new position in shares of Visa in the second quarter valued at about $35,000. 82.15% of the stock is currently owned by institutional investors and hedge funds.

Visa Trading Up 0.5 %

NYSE:V opened at $309.67 on Friday. The firm has a fifty day simple moving average of $287.04 and a two-hundred day simple moving average of $275.90. Visa Inc. has a 12 month low of $245.60 and a 12 month high of $312.44. The stock has a market capitalization of $564.31 billion, a price-to-earnings ratio of 31.83, a PEG ratio of 2.06 and a beta of 0.95. 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 issued its earnings results on Tuesday, October 29th. The credit-card processor reported $2.71 EPS for the quarter, beating analysts’ consensus estimates of $2.58 by $0.13. The business had revenue of $9.62 billion during the quarter, compared to analyst estimates of $9.49 billion. Visa had a return on equity of 53.16% and a net margin of 54.96%. The firm’s revenue was up 11.7% compared to the same quarter last year. During the same period in the previous year, the company posted $2.33 EPS. Analysts expect that Visa Inc. will post 11.19 EPS for the current fiscal year.

Visa Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, December 2nd. Shareholders of record on Tuesday, November 12th will be issued a dividend of $0.59 per share. This is an increase from Visa’s previous quarterly dividend of $0.52. The ex-dividend date of this dividend is Tuesday, November 12th. This represents a $2.36 annualized dividend and a yield of 0.76%. Visa’s dividend payout ratio is presently 24.25%.

Analyst Upgrades and Downgrades

V has been the subject of several analyst reports. Bank of America lifted their price objective on Visa from $279.00 to $308.00 and gave the company a “neutral” rating in a report on Tuesday, September 17th. Morgan Stanley lifted their price target on Visa from $322.00 to $326.00 and gave the company an “overweight” rating in a research note on Wednesday, October 30th. Jefferies Financial Group raised their price objective on Visa from $320.00 to $330.00 and gave the company a “buy” rating in a research note on Wednesday, October 30th. The Goldman Sachs Group reissued a “buy” rating and set a $317.00 target price on shares of Visa in a research note on Thursday, September 12th. Finally, BMO Capital Markets lifted their price target on shares of Visa from $310.00 to $320.00 and gave the company an “outperform” rating in a report on Wednesday, October 30th. Four research 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 company. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $321.74.

Insider Activity

In other news, CEO Ryan Mcinerney sold 8,620 shares of the firm’s stock in a transaction that occurred on Tuesday, September 3rd. The stock was sold at an average price of $276.37, for a total value of $2,382,309.40. Following the transaction, the chief executive officer now owns 538 shares in the company, valued at $148,687.06. This trade represents a 94.13 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Corporate insiders own 0.19% of the company’s stock.

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.