Visa Inc. $V Shares Acquired by W.G. Shaheen & Associates DBA Whitney & Co

W.G. Shaheen & Associates DBA Whitney & Co lifted its position in shares of Visa Inc. (NYSE:V) by 0.2% during the second quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 63,145 shares of the credit-card processor’s stock after purchasing an additional 156 shares during the period. Visa comprises about 2.2% of W.G. Shaheen & Associates DBA Whitney & Co’s holdings, making the stock its 12th largest position. W.G. Shaheen & Associates DBA Whitney & Co’s holdings in Visa were worth $22,420,000 at the end of the most recent reporting period.

Other institutional investors have also recently added to or reduced their stakes in the company. Keystone Global Partners LLC acquired a new position in Visa in the 1st quarter valued at about $26,000. Family Legacy Financial Solutions LLC acquired a new position in Visa in the 2nd quarter valued at about $28,000. von Borstel & Associates Inc. acquired a new position in Visa in the 1st quarter valued at about $27,000. Harbor Asset Planning Inc. acquired a new position in Visa in the 2nd quarter valued at about $29,000. Finally, Cranbrook Wealth Management LLC increased its position in Visa by 82.0% in the 2nd quarter. Cranbrook Wealth Management LLC now owns 91 shares of the credit-card processor’s stock valued at $32,000 after acquiring an additional 41 shares during the period. Institutional investors and hedge funds own 82.15% of the company’s stock.

Analyst Ratings Changes

V has been the topic of several recent research reports. Erste Group Bank cut Visa from a “buy” rating to a “hold” rating in a research report on Monday, September 22nd. Macquarie dropped their target price on Visa from $425.00 to $410.00 and set an “outperform” rating on the stock in a research report on Wednesday, October 29th. Raymond James Financial reiterated an “outperform” rating and set a $408.00 target price (up previously from $398.00) on shares of Visa in a research report on Wednesday, October 29th. Truist Financial dropped their target price on Visa from $400.00 to $397.00 and set a “buy” rating on the stock in a research report on Thursday, July 17th. Finally, Weiss Ratings reiterated a “buy (b)” rating on shares of Visa in a research report on Wednesday, October 8th. Four equities research analysts have rated the stock with a Strong Buy rating, seventeen have issued a Buy rating and five have issued a Hold rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $400.00.

Visa Stock Performance

NYSE V opened at $336.74 on Tuesday. The stock has a market capitalization of $617.17 billion, a price-to-earnings ratio of 32.98, a PEG ratio of 2.03 and a beta of 0.87. The company has a current ratio of 1.08, a quick ratio of 1.12 and a debt-to-equity ratio of 0.53. The business’s 50 day moving average is $344.54 and its two-hundred day moving average is $348.57. Visa Inc. has a 12-month low of $290.76 and a 12-month high of $375.51.

Visa (NYSE:V) last released its quarterly earnings results on Tuesday, October 28th. The credit-card processor reported $2.98 earnings per share for the quarter, topping analysts’ consensus estimates of $2.97 by $0.01. The business had revenue of $10.72 billion for the quarter, compared to analysts’ expectations of $10.60 billion. Visa had a return on equity of 60.31% and a net margin of 50.15%.The company’s revenue was up 11.5% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $2.71 EPS. Research analysts expect that Visa Inc. will post 11.3 EPS for the current year.

Visa Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, December 1st. Investors of record on Wednesday, November 12th will be issued a $0.67 dividend. The ex-dividend date is Wednesday, November 12th. This represents a $2.68 dividend on an annualized basis and a dividend yield of 0.8%. This is an increase from Visa’s previous quarterly dividend of $0.59. Visa’s payout ratio is currently 23.11%.

Insider Buying and Selling

In related news, General Counsel Julie B. Rottenberg sold 2,027 shares of the company’s stock in a transaction that occurred on Monday, August 18th. The stock was sold at an average price of $344.02, for a total value of $697,328.54. Following the sale, the general counsel owned 11,925 shares in the company, valued at $4,102,438.50. This represents a 14.53% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CEO Ryan Mcinerney sold 10,485 shares of the company’s stock in a transaction that occurred on Wednesday, October 1st. The stock was sold at an average price of $342.30, for a total value of $3,589,015.50. Following the completion of the sale, the chief executive officer owned 537 shares in the company, valued at approximately $183,815.10. This represents a 95.13% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Corporate insiders own 0.13% 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.