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

W.G. Shaheen & Associates DBA Whitney & Co raised its stake in shares of Visa Inc. (NYSE:V) by 0.2% during the second quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 63,145 shares of the credit-card processor’s stock after buying an additional 156 shares during the quarter. Visa comprises about 2.2% of W.G. Shaheen & Associates DBA Whitney & Co’s investment portfolio, making the stock its 12th biggest position. W.G. Shaheen & Associates DBA Whitney & Co’s holdings in Visa were worth $22,420,000 as of its most recent filing with the SEC.

A number of other large investors have also recently bought and sold shares of the stock. Telos Capital Management Inc. grew its holdings in Visa by 2.3% during the 2nd quarter. Telos Capital Management Inc. now owns 59,134 shares of the credit-card processor’s stock valued at $20,996,000 after buying an additional 1,351 shares during the last quarter. EPG Wealth Management LLC grew its holdings in Visa by 2.9% during the 2nd quarter. EPG Wealth Management LLC now owns 7,456 shares of the credit-card processor’s stock valued at $2,647,000 after buying an additional 213 shares during the last quarter. AAF Wealth Management LLC grew its holdings in Visa by 12.5% during the 2nd quarter. AAF Wealth Management LLC now owns 783 shares of the credit-card processor’s stock valued at $278,000 after buying an additional 87 shares during the last quarter. State of Michigan Retirement System grew its holdings in Visa by 1.0% during the 2nd quarter. State of Michigan Retirement System now owns 600,023 shares of the credit-card processor’s stock valued at $213,038,000 after buying an additional 6,100 shares during the last quarter. Finally, Tredje AP fonden grew its holdings in Visa by 24.9% during the 2nd quarter. Tredje AP fonden now owns 433,247 shares of the credit-card processor’s stock valued at $153,824,000 after buying an additional 86,389 shares during the last quarter. Institutional investors and hedge funds own 82.15% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts have commented on the company. Wells Fargo & Company upgraded Visa to a “strong-buy” rating in a report on Wednesday, October 22nd. Deutsche Bank Aktiengesellschaft began coverage on Visa in a report on Thursday, July 17th. They set a “buy” rating and a $410.00 price objective on the stock. Morgan Stanley set a $398.00 price objective on Visa and gave the stock an “overweight” rating in a report on Wednesday, October 29th. Erste Group Bank cut Visa from a “buy” rating to a “hold” rating in a report on Monday, September 22nd. Finally, Robert W. Baird set a $425.00 price objective on Visa in a report on Wednesday, October 29th. Four investment analysts have rated the stock with a Strong Buy rating, seventeen have given a Buy rating and five have given a Hold rating to the stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $400.00.

Visa Trading Down 1.2%

Shares of V opened at $336.74 on Tuesday. 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 firm has a market capitalization of $617.17 billion, a P/E ratio of 32.98, a price-to-earnings-growth ratio of 2.03 and a beta of 0.87. The stock’s fifty day simple moving average is $344.54 and its 200 day simple moving average is $348.57. Visa Inc. has a twelve month low of $290.76 and a twelve month high of $375.51.

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

Visa Increases Dividend

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

Insider Activity

In related news, General Counsel Julie B. Rottenberg sold 2,027 shares of the business’s stock in a transaction dated Monday, August 18th. The stock was sold at an average price of $344.02, for a total value of $697,328.54. Following the completion of the sale, the general counsel directly owned 11,925 shares of the company’s stock, valued at $4,102,438.50. The trade was a 14.53% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CEO Ryan Mcinerney sold 10,485 shares of the business’s stock in a transaction dated Wednesday, October 1st. The shares were 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 directly owned 537 shares of the company’s stock, valued at approximately $183,815.10. This represents a 95.13% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. 0.13% of the stock is owned by insiders.

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.