Burney Co. Sells 618 Shares of Visa Inc. (NYSE:V)

Burney Co. cut its holdings in Visa Inc. (NYSE:V) by 1.9% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The firm owned 32,059 shares of the credit-card processor’s stock after selling 618 shares during the period. Burney Co.’s holdings in Visa were worth $10,132,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Peterson Financial Group Inc. bought a new position in Visa during the third quarter valued at about $26,000. Reston Wealth Management LLC acquired a new stake in Visa during the third quarter valued at approximately $31,000. Modus Advisors LLC acquired a new stake in Visa during the fourth quarter valued at approximately $32,000. West Financial Advisors LLC boosted its holdings in Visa by 101.4% during the third quarter. West Financial Advisors LLC now owns 145 shares of the credit-card processor’s stock valued at $40,000 after purchasing an additional 73 shares in the last quarter. Finally, Global Wealth Strategies & Associates boosted its holdings in Visa by 79.0% during the third quarter. Global Wealth Strategies & Associates now owns 179 shares of the credit-card processor’s stock valued at $49,000 after purchasing an additional 79 shares in the last quarter. 82.15% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of research firms have weighed in on V. BMO Capital Markets lifted their price objective on Visa from $310.00 to $320.00 and gave the company an “outperform” rating in a report on Wednesday, October 30th. Deutsche Bank Aktiengesellschaft lifted their price objective on Visa from $300.00 to $340.00 and gave the company a “buy” rating in a report on Wednesday, October 30th. Robert W. Baird lifted their price objective on Visa from $330.00 to $340.00 and gave the company an “outperform” rating in a report on Wednesday, October 30th. Wells Fargo & Company lifted their price objective on Visa from $325.00 to $360.00 and gave the company an “overweight” rating in a report on Friday, January 3rd. Finally, TD Cowen boosted their target price on Visa from $318.00 to $325.00 and gave the stock a “buy” rating in a report on Wednesday, October 30th. Four analysts have rated the stock with a hold rating, twenty-four have given a buy rating and two have assigned a strong buy rating to the company. According to MarketBeat.com, Visa presently has an average rating of “Moderate Buy” and a consensus target price of $331.92.

Visa Price Performance

V opened at $316.45 on Thursday. The company has a quick ratio of 1.28, a current ratio of 1.28 and a debt-to-equity ratio of 0.55. Visa Inc. has a 12 month low of $252.70 and a 12 month high of $321.61. The company has a fifty day simple moving average of $312.76 and a 200 day simple moving average of $287.65. The stock has a market cap of $589.51 billion, a P/E ratio of 32.52, a P/E/G ratio of 2.06 and a beta of 0.96.

Visa (NYSE:V) last released its quarterly earnings data on Tuesday, October 29th. The credit-card processor reported $2.71 EPS for the quarter, beating analysts’ consensus estimates of $2.58 by $0.13. Visa had a net margin of 54.96% and a return on equity of 53.16%. The business had revenue of $9.62 billion during the quarter, compared to analysts’ expectations of $9.49 billion. During the same quarter in the prior year, the company earned $2.33 EPS. The firm’s quarterly revenue was up 11.7% on a year-over-year basis. On average, research analysts expect that Visa Inc. will post 11.22 EPS for the current year.

Visa Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, December 2nd. Shareholders of record on Tuesday, November 12th were issued a dividend of $0.59 per share. This represents a $2.36 dividend on an annualized basis and a yield of 0.75%. The ex-dividend date was Tuesday, November 12th. This is a boost from Visa’s previous quarterly dividend of $0.52. Visa’s dividend payout ratio is 24.25%.

Insiders Place Their Bets

In related news, insider Paul D. Fabara sold 2,171 shares of the firm’s stock in a transaction dated Friday, November 22nd. The shares were sold at an average price of $307.97, for a total value of $668,602.87. Following the completion of the sale, the insider now directly owns 17,894 shares in the company, valued at approximately $5,510,815.18. This trade represents a 10.82 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CEO Ryan Mcinerney sold 8,620 shares of the firm’s stock in a transaction dated Thursday, January 2nd. The shares were sold at an average price of $317.78, for a total transaction of $2,739,263.60. The disclosure for this sale can be found here. Corporate insiders own 0.13% of the company’s stock.

Visa Company 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.