W.G. Shaheen & Associates DBA Whitney & Co Buys 553 Shares of Visa Inc. (NYSE:V)

W.G. Shaheen & Associates DBA Whitney & Co grew its holdings in Visa Inc. (NYSE:V) by 0.9% during the third quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 61,769 shares of the credit-card processor’s stock after purchasing an additional 553 shares during the quarter. Visa comprises about 1.8% of W.G. Shaheen & Associates DBA Whitney & Co’s investment portfolio, making the stock its 18th largest position. W.G. Shaheen & Associates DBA Whitney & Co’s holdings in Visa were worth $16,983,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently bought and sold shares of V. Peterson Financial Group Inc. acquired a new position in shares of Visa during the third quarter valued at $26,000. POM Investment Strategies LLC lifted its stake in shares of Visa by 970.0% during the second quarter. POM Investment Strategies LLC now owns 107 shares of the credit-card processor’s stock valued at $28,000 after acquiring an additional 97 shares during the period. Reston Wealth Management LLC acquired a new position in shares of Visa during the third quarter valued at $31,000. TruNorth Capital Management LLC lifted its stake in shares of Visa by 211.9% during 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. Finally, Bbjs Financial Advisors LLC acquired a new position in shares of Visa during the second quarter valued at $35,000. Institutional investors and hedge funds own 82.15% of the company’s stock.

Insider Activity at Visa

In other news, CEO Ryan Mcinerney sold 8,620 shares of Visa stock in a transaction dated Tuesday, September 3rd. The shares were sold at an average price of $276.37, for a total value of $2,382,309.40. Following the completion of the transaction, the chief executive officer now owns 538 shares of the company’s stock, valued at $148,687.06. This trade represents a 94.13 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. 0.19% of the stock is owned by insiders.

Analysts Set New Price Targets

V has been the topic of several research reports. BMO Capital Markets upped their price target on Visa from $310.00 to $320.00 and gave the company an “outperform” rating in a research note on Wednesday, October 30th. JPMorgan Chase & Co. increased their target price on Visa from $290.00 to $320.00 and gave the company an “overweight” rating in a research note on Tuesday, August 20th. Keefe, Bruyette & Woods raised Visa from a “moderate buy” rating to a “strong-buy” rating in a research note on Tuesday, September 24th. BNP Paribas raised Visa from a “neutral” rating to an “outperform” rating and set a $325.00 target price on the stock in a research note on Tuesday, September 3rd. Finally, Monness Crespi & Hardt reissued a “neutral” rating on shares of Visa in a research note on Tuesday, September 24th. Four equities research analysts have rated the stock with a hold rating, twenty-four have issued a buy rating and two have given a strong buy rating to the company. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $321.74.

Visa Stock Up 0.8 %

Visa stock opened at $312.16 on Tuesday. The company has a market cap of $568.85 billion, a P/E ratio of 32.08, a price-to-earnings-growth ratio of 2.07 and a beta of 0.95. Visa Inc. has a 1-year low of $245.60 and a 1-year high of $312.44. The company has a fifty day simple moving average of $287.57 and a 200 day simple moving average of $276.32. The company has a current ratio of 1.28, a quick ratio of 1.28 and a debt-to-equity ratio of 0.55.

Visa (NYSE:V) last released its earnings results on Tuesday, October 29th. The credit-card processor reported $2.71 earnings per share 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 the consensus estimate of $9.49 billion. Visa had a net margin of 54.96% and a return on equity of 53.16%. The firm’s revenue for the quarter was up 11.7% compared to the same quarter last year. During the same quarter last year, the firm earned $2.33 earnings per share. Research analysts anticipate that Visa Inc. will post 11.19 earnings per share for the current fiscal year.

Visa Increases Dividend

The firm also recently announced 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 of this dividend is Tuesday, November 12th. This represents a $2.36 dividend on an annualized basis and a yield of 0.76%. This is an increase from Visa’s previous quarterly dividend of $0.52. Visa’s dividend payout ratio (DPR) is 24.25%.

Visa 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.