Visa Inc. $V Shares Sold by Burr Financial Services LLC

Burr Financial Services LLC trimmed its position in Visa Inc. (NYSE:V) by 4.4% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 1,195 shares of the credit-card processor’s stock after selling 55 shares during the quarter. Visa comprises 0.4% of Burr Financial Services LLC’s investment portfolio, making the stock its 22nd biggest position. Burr Financial Services LLC’s holdings in Visa were worth $424,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently bought and sold shares of the company. Keystone Global Partners LLC purchased a new stake in shares of Visa in the 1st quarter valued at approximately $26,000. von Borstel & Associates Inc. purchased a new stake in shares of Visa in the 1st quarter valued at approximately $27,000. 1 North Wealth Services LLC purchased a new stake in shares of Visa in the 1st quarter valued at approximately $38,000. Anderson Financial Strategies LLC purchased a new stake in shares of Visa in the 1st quarter valued at approximately $53,000. Finally, O Brien Wealth Partners LLC purchased a new stake in shares of Visa in the 1st quarter valued at approximately $54,000. 82.15% of the stock is currently owned by institutional investors and hedge funds.

Visa Trading Down 0.1%

NYSE V opened at $338.96 on Tuesday. The company has a quick ratio of 1.12, a current ratio of 1.12 and a debt-to-equity ratio of 0.52. Visa Inc. has a 52 week low of $268.23 and a 52 week high of $375.51. The stock has a market capitalization of $621.24 billion, a PE ratio of 33.10, a price-to-earnings-growth ratio of 2.26 and a beta of 0.92. The firm has a 50 day moving average of $346.67 and a two-hundred day moving average of $346.69.

Visa (NYSE:V) last posted its quarterly earnings results on Tuesday, July 29th. The credit-card processor reported $2.98 EPS for the quarter, topping the consensus estimate of $2.85 by $0.13. Visa had a net margin of 52.16% and a return on equity of 58.93%. The company had revenue of $10.17 billion during the quarter, compared to analysts’ expectations of $9.82 billion. During the same quarter in the previous year, the business posted $2.42 EPS. The firm’s revenue was up 14.3% on a year-over-year basis. As a group, research analysts expect that Visa Inc. will post 11.3 EPS for the current fiscal year.

Visa Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, September 2nd. Shareholders of record on Tuesday, August 12th were issued a dividend of $0.59 per share. This represents a $2.36 annualized dividend and a yield of 0.7%. The ex-dividend date was Tuesday, August 12th. Visa’s payout ratio is 23.05%.

Analysts Set New Price Targets

Several equities research analysts recently weighed in on the stock. Truist Financial cut their target price on shares of Visa from $400.00 to $397.00 and set a “buy” rating on the stock in a research note on Thursday, July 17th. Deutsche Bank Aktiengesellschaft assumed coverage on shares of Visa in a research note on Thursday, July 17th. They set a “buy” rating and a $410.00 target price on the stock. Raymond James Financial reaffirmed an “outperform” rating on shares of Visa in a research note on Wednesday, July 30th. Jefferies Financial Group upped their target price on shares of Visa from $400.00 to $410.00 and gave the stock a “buy” rating in a research note on Tuesday, May 27th. Finally, Citigroup assumed coverage on shares of Visa in a research note on Monday, June 2nd. They set a “buy” rating on the stock. One research analyst has rated the stock with a Strong Buy rating, twenty have given a Buy rating and five have given a Hold rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $385.96.

Insider Activity at Visa

In related news, CEO Ryan Mcinerney sold 8,630 shares of the stock in a transaction on Tuesday, July 1st. The shares were sold at an average price of $353.82, for a total value of $3,053,466.60. Following the transaction, the chief executive officer directly owned 537 shares of the company’s stock, valued at $190,001.34. This trade represents a 94.14% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, General Counsel Julie B. Rottenberg sold 2,027 shares of the stock in a transaction on Monday, August 18th. The shares were sold at an average price of $344.02, for a total transaction of $697,328.54. Following the completion of the transaction, the general counsel directly owned 11,925 shares in the company, valued at $4,102,438.50. This trade represents a 14.53% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 0.13% of the company’s stock.

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.