Burney Co. Sells 16,444 Shares of Visa Inc. $V

Burney Co. reduced its stake in Visa Inc. (NYSE:VFree Report) by 45.8% during the 1st quarter, Holdings Channel.com reports. The firm owned 19,480 shares of the credit-card processor’s stock after selling 16,444 shares during the period. Burney Co.’s holdings in Visa were worth $5,888,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors also recently modified their holdings of the stock. Brighton Jones LLC grew its stake in Visa by 50.1% in the 4th quarter. Brighton Jones LLC now owns 20,635 shares of the credit-card processor’s stock valued at $6,522,000 after buying an additional 6,883 shares during the last quarter. Revolve Wealth Partners LLC lifted its position in Visa by 68.9% during the fourth quarter. Revolve Wealth Partners LLC now owns 11,811 shares of the credit-card processor’s stock worth $3,733,000 after acquiring an additional 4,817 shares during the last quarter. Nicholas Hoffman & Company LLC. lifted its position in Visa by 4.6% during the first quarter. Nicholas Hoffman & Company LLC. now owns 10,941 shares of the credit-card processor’s stock worth $3,834,000 after acquiring an additional 477 shares during the last quarter. Matrix Asset Advisors Inc. NY boosted its holdings in shares of Visa by 16.9% during the second quarter. Matrix Asset Advisors Inc. NY now owns 1,133 shares of the credit-card processor’s stock worth $402,000 after acquiring an additional 164 shares during the period. Finally, Schnieders Capital Management LLC. grew its position in shares of Visa by 13.8% in the second quarter. Schnieders Capital Management LLC. now owns 18,367 shares of the credit-card processor’s stock valued at $6,521,000 after purchasing an additional 2,230 shares during the last quarter. 82.15% of the stock is owned by institutional investors.

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Analysts Set New Price Targets

A number of equities analysts have recently weighed in on V shares. Citigroup lowered their target price on Visa from $450.00 to $400.00 and set a “buy” rating on the stock in a research note on Tuesday, April 14th. Piper Sandler started coverage on Visa in a report on Monday, June 29th. They issued an “overweight” rating and a $394.00 price objective on the stock. BMO Capital Markets assumed coverage on Visa in a research report on Tuesday, April 21st. They set an “outperform” rating and a $365.00 price objective on the stock. Barclays started coverage on Visa in a research report on Tuesday. They set an “overweight” rating on the stock. Finally, Sanford C. Bernstein restated an “outperform” rating and issued a $450.00 price target on shares of Visa in a research note on Tuesday, June 2nd. Six research analysts have rated the stock with a Strong Buy rating, nineteen have issued a Buy rating and one has given a Hold rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Buy” and an average price target of $397.39.

View Our Latest Report on Visa

Visa Stock Down 1.4%

NYSE V opened at $352.21 on Wednesday. The business has a fifty day moving average price of $328.99 and a two-hundred day moving average price of $324.88. The stock has a market capitalization of $631.79 billion, a PE ratio of 30.68, a PEG ratio of 1.91 and a beta of 0.75. Visa Inc. has a fifty-two week low of $293.89 and a fifty-two week high of $365.02. The company has a debt-to-equity ratio of 0.64, a current ratio of 1.09 and a quick ratio of 1.09.

Visa (NYSE:VGet Free Report) last issued its quarterly earnings results on Tuesday, April 28th. The credit-card processor reported $3.31 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.10 by $0.21. Visa had a return on equity of 65.00% and a net margin of 51.68%.The company had revenue of $11.23 billion for the quarter, compared to analyst estimates of $10.75 billion. During the same quarter last year, the company posted $2.76 EPS. The company’s revenue for the quarter was up 17.1% compared to the same quarter last year. Equities analysts expect that Visa Inc. will post 13.1 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 1st. Shareholders of record on Tuesday, May 12th were given a $0.67 dividend. This represents a $2.68 dividend on an annualized basis and a yield of 0.8%. The ex-dividend date was Tuesday, May 12th. Visa’s payout ratio is currently 23.34%.

Visa announced that its board has authorized a share repurchase program on Tuesday, April 28th that authorizes the company to buyback $20.00 billion in outstanding shares. This buyback authorization authorizes the credit-card processor to buy up to 3.6% of its shares through open market purchases. Shares buyback programs are typically an indication that the company’s board believes its stock is undervalued.

Insiders Place Their Bets

In other news, CFO Chris Suh sold 10,639 shares of the stock in a transaction dated Tuesday, May 12th. The shares were sold at an average price of $324.81, for a total value of $3,455,653.59. Following the completion of the transaction, the chief financial officer owned 9,872 shares of the company’s stock, valued at approximately $3,206,524.32. This represents a 51.87% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Ryan Mcinerney sold 31,455 shares of the firm’s stock in a transaction that occurred on Wednesday, April 29th. The shares were sold at an average price of $340.14, for a total transaction of $10,699,103.70. Following the completion of the sale, the chief executive officer owned 15,174 shares in the company, valued at approximately $5,161,284.36. The trade was a 67.46% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last 90 days, insiders sold 75,581 shares of company stock valued at $25,627,975. 0.12% of the stock is currently owned by corporate insiders.

Visa Profile

(Free Report)

Visa Inc is a global payments technology company that facilitates electronic funds transfers and digital commerce by connecting consumers, merchants, financial institutions and governments. The firm operates one of the world’s largest payment networks, providing processing, authorization, clearing and settlement services for credit, debit and prepaid card transactions. Visa’s network-based model enables partner banks and other issuers to offer branded payment products while Visa focuses on the infrastructure, standards and technologies that move money securely and efficiently around the world.

Visa’s product and service portfolio includes card-based payment products for consumers and businesses, real-time push-payment capabilities, tokenization and authentication services, fraud and risk-management tools, data analytics and APIs for fintech and merchant integration.

Further Reading

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Institutional Ownership by Quarter for Visa (NYSE:V)

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