Burns J W & Co. Inc. NY Has $34.48 Million Position in Visa Inc. (NYSE:V)

Burns J W & Co. Inc. NY decreased its stake in shares of Visa Inc. (NYSE:V) by 2.4% in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 123,561 shares of the credit-card processor’s stock after selling 3,080 shares during the period. Visa makes up about 4.8% of Burns J W & Co. Inc. NY’s investment portfolio, making the stock its 3rd largest holding. Burns J W & Co. Inc. NY’s holdings in Visa were worth $34,483,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors have also made changes to their positions in V. Nadler Financial Group Inc. grew its stake in Visa by 2.4% in the 4th quarter. Nadler Financial Group Inc. now owns 1,900 shares of the credit-card processor’s stock valued at $495,000 after buying an additional 44 shares during the last quarter. Towerpoint Wealth LLC bought a new position in Visa in the 4th quarter valued at approximately $216,000. Andrew Hill Investment Advisors Inc. bought a new position in Visa in the 4th quarter valued at approximately $3,427,000. Richelieu Gestion SA bought a new position in shares of Visa during the fourth quarter valued at $307,000. Finally, Cooper Financial Group raised its stake in shares of Visa by 6.4% during the fourth quarter. Cooper Financial Group now owns 7,926 shares of the credit-card processor’s stock valued at $2,064,000 after acquiring an additional 476 shares during the last quarter. 82.15% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several research firms have recently weighed in on V. Redburn Atlantic reiterated a “neutral” rating and set a $307.00 price objective on shares of Visa in a research report on Wednesday, March 27th. William Blair reissued an “outperform” rating on shares of Visa in a research report on Wednesday, April 24th. UBS Group boosted their price objective on shares of Visa from $315.00 to $325.00 and gave the company a “buy” rating in a research note on Wednesday, April 24th. Wedbush boosted their price objective on shares of Visa from $280.00 to $300.00 and gave the company an “outperform” rating in a research note on Wednesday, April 24th. Finally, Macquarie boosted their price objective on shares of Visa from $290.00 to $300.00 and gave the company an “outperform” rating in a research note on Wednesday, April 24th. Five analysts have rated the stock with a hold rating and twenty-one have given a buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $303.56.

Visa Stock Down 1.5 %

Shares of V stock traded down $4.12 during trading hours on Friday, reaching $262.47. 13,957,270 shares of the company’s stock were exchanged, compared to its average volume of 8,762,266. The stock’s fifty day moving average price is $273.88 and its two-hundred day moving average price is $273.41. The stock has a market cap of $480.04 billion, a PE ratio of 29.31, a PEG ratio of 1.82 and a beta of 0.97. Visa Inc. has a 1 year low of $227.68 and a 1 year high of $290.96. The company has a current ratio of 1.40, a quick ratio of 1.40 and a debt-to-equity ratio of 0.53.

Visa (NYSE:V) last announced its earnings results on Tuesday, April 23rd. The credit-card processor reported $2.51 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.43 by $0.08. The firm had revenue of $8.78 billion for the quarter, compared to analyst estimates of $8.62 billion. Visa had a return on equity of 51.23% and a net margin of 53.87%. The business’s revenue was up 9.9% on a year-over-year basis. During the same quarter last year, the firm posted $2.09 EPS. Research analysts predict that Visa Inc. will post 9.94 EPS for the current year.

Visa Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, June 3rd. Investors of record on Friday, May 17th were given a dividend of $0.52 per share. This represents a $2.08 dividend on an annualized basis and a dividend yield of 0.79%. The ex-dividend date of this dividend was Thursday, May 16th. Visa’s payout ratio is 23.24%.

Insider Buying and Selling

In other news, Director Lloyd Carney sold 909 shares of Visa stock in a transaction dated Friday, April 26th. The stock was sold at an average price of $275.55, for a total value of $250,474.95. Following the completion of the transaction, the director now owns 2,591 shares in the company, valued at approximately $713,950.05. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In other Visa news, CEO Ryan Mcinerney sold 8,200 shares of the business’s stock in a transaction that occurred on Monday, April 1st. The stock was sold at an average price of $280.36, for a total value of $2,298,952.00. Following the completion of the sale, the chief executive officer now owns 538 shares in the company, valued at $150,833.68. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, Director Lloyd Carney sold 909 shares of the business’s stock in a transaction that occurred on Friday, April 26th. The shares were sold at an average price of $275.55, for a total value of $250,474.95. Following the completion of the sale, the director now owns 2,591 shares of the company’s stock, valued at approximately $713,950.05. The disclosure for this sale can be found here. In the last ninety days, insiders sold 34,402 shares of company stock valued at $9,559,382. 0.19% of the stock is currently owned by insiders.

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.