W.G. Shaheen & Associates DBA Whitney & Co Has $19.56 Million Position in Visa Inc. (NYSE:V)

W.G. Shaheen & Associates DBA Whitney & Co lifted its holdings in shares of Visa Inc. (NYSE:V) by 0.2% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 61,889 shares of the credit-card processor’s stock after purchasing an additional 120 shares during the quarter. Visa accounts for about 2.1% of W.G. Shaheen & Associates DBA Whitney & Co’s portfolio, making the stock its 14th biggest position. W.G. Shaheen & Associates DBA Whitney & Co’s holdings in Visa were worth $19,559,000 as of its most recent SEC filing.

A number of other hedge funds also recently modified their holdings of the business. Decker Retirement Planning Inc. bought a new position in shares of Visa during the fourth quarter worth about $26,000. Peterson Financial Group Inc. bought a new position in shares of Visa during the third quarter worth about $26,000. POM Investment Strategies LLC grew its holdings in shares of Visa by 48.5% during the fourth quarter. POM Investment Strategies LLC now owns 98 shares of the credit-card processor’s stock worth $31,000 after buying an additional 32 shares in the last quarter. Modus Advisors LLC bought a new position in shares of Visa during the fourth quarter worth about $32,000. Finally, Compass Planning Associates Inc bought a new position in shares of Visa during the fourth quarter worth about $32,000. Institutional investors and hedge funds own 82.15% of the company’s stock.

Insider Buying and Selling at Visa

In other news, CAO Peter M. Andreski sold 2,332 shares of Visa stock in a transaction on Friday, February 7th. The stock was sold at an average price of $349.62, for a total value of $815,313.84. Following the transaction, the chief accounting officer now owns 4,488 shares in the company, valued at approximately $1,569,094.56. This trade represents a 34.19 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CEO Ryan Mcinerney sold 8,620 shares of the business’s stock in a transaction on Thursday, January 2nd. The stock was sold at an average price of $317.78, for a total value of $2,739,263.60. The disclosure for this sale can be found here. Insiders sold 55,885 shares of company stock valued at $19,161,447 in the last three months. Corporate insiders own 0.13% of the company’s stock.

Analysts Set New Price Targets

V has been the subject of a number of research reports. Piper Sandler reiterated an “overweight” rating and set a $383.00 price objective (up from $368.00) on shares of Visa in a report on Friday, January 31st. TD Cowen raised their price target on Visa from $318.00 to $325.00 and gave the company a “buy” rating in a research note on Wednesday, October 30th. Barclays raised their price target on Visa from $361.00 to $396.00 and gave the company an “overweight” rating in a research note on Monday, February 3rd. Bank of America raised their price target on Visa from $331.00 to $363.00 and gave the company a “neutral” rating in a research note on Friday, January 31st. Finally, Raymond James restated an “outperform” rating and issued a $393.00 price target (up from $374.00) on shares of Visa in a research note on Friday, January 31st. Six analysts have rated the stock with a hold rating, twenty-three have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, Visa currently has a consensus rating of “Moderate Buy” and an average target price of $353.96.

Visa Price Performance

Shares of NYSE V opened at $350.61 on Thursday. The stock has a market capitalization of $651.36 billion, a PE ratio of 35.34, a P/E/G ratio of 2.33 and a beta of 0.97. The company has a debt-to-equity ratio of 0.45, a current ratio of 1.12 and a quick ratio of 1.12. The business has a fifty day moving average price of $331.31 and a two-hundred day moving average price of $304.27. Visa Inc. has a fifty-two week low of $252.70 and a fifty-two week high of $357.15.

Visa (NYSE:V) last announced its quarterly earnings data on Thursday, January 30th. The credit-card processor reported $2.75 earnings per share for the quarter, beating the consensus estimate of $2.66 by $0.09. Visa had a return on equity of 54.79% and a net margin of 54.27%. As a group, equities analysts predict that Visa Inc. will post 11.3 earnings per share for the current fiscal year.

Visa Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, March 3rd. Shareholders of record on Tuesday, February 11th will be issued a $0.59 dividend. The ex-dividend date of this dividend is Tuesday, February 11th. This represents a $2.36 annualized dividend and a yield of 0.67%. Visa’s dividend payout ratio is presently 23.79%.

About Visa

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.