Visa Inc. (NYSE:V) Holdings Lifted by W.G. Shaheen & Associates DBA Whitney & Co

W.G. Shaheen & Associates DBA Whitney & Co raised its position in Visa Inc. (NYSE:V - Free Report) by 1.8% in the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 62,989 shares of the credit-card processor's stock after acquiring an additional 1,100 shares during the period. Visa makes up approximately 2.3% of W.G. Shaheen & Associates DBA Whitney & Co's holdings, making the stock its 10th biggest holding. W.G. Shaheen & Associates DBA Whitney & Co's holdings in Visa were worth $22,075,000 at the end of the most recent quarter.

Several other institutional investors also recently bought and sold shares of the company. von Borstel & Associates Inc. acquired a new position in Visa during the first quarter valued at $27,000. Sellwood Investment Partners LLC acquired a new position in Visa during the fourth quarter valued at $41,000. Measured Risk Portfolios Inc. acquired a new position in Visa during the fourth quarter valued at $47,000. O Brien Wealth Partners LLC acquired a new position in Visa during the first quarter valued at $54,000. Finally, Global X Japan Co. Ltd. acquired a new position in Visa during the first quarter valued at $56,000. 82.15% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other Visa news, CEO Ryan Mcinerney sold 8,630 shares of the stock in a transaction that occurred on Tuesday, July 1st. The shares were sold at an average price of $353.82, for a total transaction of $3,053,466.60. Following the sale, the chief executive officer directly owned 537 shares in the company, valued at $190,001.34. This represents a 94.14% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, insider Paul D. Fabara sold 11,636 shares of the firm's stock in a transaction on Wednesday, June 11th. The shares were sold at an average price of $375.00, for a total transaction of $4,363,500.00. Following the completion of the sale, the insider owned 26,413 shares in the company, valued at $9,904,875. The trade was a 30.58% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 101,108 shares of company stock worth $36,771,200 in the last ninety days. 0.13% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of research firms recently issued reports on V. Jefferies Financial Group boosted their target price on shares of Visa from $400.00 to $410.00 and gave the company a "buy" rating in a research report on Tuesday, May 27th. Oppenheimer lifted their price objective on shares of Visa from $390.00 to $391.00 and gave the company an "outperform" rating in a report on Wednesday, July 2nd. Piper Sandler lifted their price objective on shares of Visa from $383.00 to $384.00 and gave the company an "overweight" rating in a report on Wednesday, April 30th. Truist Financial cut their price objective on shares of Visa from $400.00 to $397.00 and set a "buy" rating for the company in a report on Thursday, July 17th. Finally, Wall Street Zen raised shares of Visa from a "hold" rating to a "buy" rating in a report on Monday, May 12th. Five analysts have rated the stock with a hold rating, twenty-three have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, Visa presently has a consensus rating of "Moderate Buy" and an average target price of $375.52.

Visa Trading Down 0.3%

Shares of V stock traded down $0.99 during trading hours on Thursday, hitting $354.30. The company had a trading volume of 5,882,734 shares, compared to its average volume of 6,597,131. The company's fifty day moving average is $356.62 and its 200 day moving average is $344.40. The company has a debt-to-equity ratio of 0.45, a current ratio of 1.08 and a quick ratio of 1.08. Visa Inc. has a fifty-two week low of $252.70 and a fifty-two week high of $375.51. The stock has a market capitalization of $653.74 billion, a PE ratio of 35.61, a price-to-earnings-growth ratio of 2.38 and a beta of 0.92.

Visa (NYSE:V - Get Free Report) last released its earnings results on Tuesday, April 29th. The credit-card processor reported $2.76 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $2.68 by $0.08. The company had revenue of $9.59 billion for the quarter, compared to analyst estimates of $9.57 billion. Visa had a net margin of 52.86% and a return on equity of 56.28%. The firm's quarterly revenue was up 9.3% on a year-over-year basis. During the same period in the prior year, the business earned $2.51 EPS. Research analysts expect that Visa Inc. will post 11.3 earnings per share for the current fiscal year.

Visa Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, June 2nd. Shareholders of record on Tuesday, May 13th were issued a dividend of $0.59 per share. The ex-dividend date was Tuesday, May 13th. This represents a $2.36 dividend on an annualized basis and a yield of 0.67%. Visa's dividend payout ratio (DPR) is presently 23.72%.

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.