Visa Inc. (NYSE:V) is Burns J W & Co. Inc. NY’s 3rd Largest Position

Burns J W & Co. Inc. NY cut its stake in shares of Visa Inc. (NYSE:V) by 4.4% in the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 117,849 shares of the credit-card processor’s stock after selling 5,429 shares during the period. Visa accounts for approximately 4.2% of Burns J W & Co. Inc. NY’s holdings, making the stock its 3rd biggest holding. Burns J W & Co. Inc. NY’s holdings in Visa were worth $32,403,000 at the end of the most recent reporting period.

Other institutional investors also recently made changes to their positions in the company. Vanguard Group Inc. lifted its holdings in shares of Visa by 0.6% during the 1st quarter. Vanguard Group Inc. now owns 142,202,830 shares of the credit-card processor’s stock valued at $39,685,966,000 after acquiring an additional 788,908 shares in the last quarter. Capital International Investors lifted its holdings in shares of Visa by 2.7% during the 1st quarter. Capital International Investors now owns 23,570,391 shares of the credit-card processor’s stock valued at $6,578,025,000 after acquiring an additional 626,618 shares in the last quarter. Capital World Investors lifted its holdings in shares of Visa by 5.4% during the 1st quarter. Capital World Investors now owns 18,863,796 shares of the credit-card processor’s stock valued at $5,264,508,000 after acquiring an additional 968,008 shares in the last quarter. Ameriprise Financial Inc. lifted its holdings in shares of Visa by 2.4% during the 2nd quarter. Ameriprise Financial Inc. now owns 14,610,590 shares of the credit-card processor’s stock valued at $3,833,981,000 after acquiring an additional 345,829 shares in the last quarter. Finally, Legal & General Group Plc lifted its holdings in shares of Visa by 2.2% during the 2nd quarter. Legal & General Group Plc now owns 14,416,394 shares of the credit-card processor’s stock valued at $3,783,857,000 after acquiring an additional 312,286 shares in the last quarter. 82.15% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of brokerages have commented on V. TD Cowen cut their price objective on shares of Visa from $320.00 to $318.00 and set a “buy” rating on the stock in a report on Wednesday, July 24th. Evercore ISI cut their price objective on shares of Visa from $335.00 to $330.00 and set an “outperform” rating on the stock in a report on Tuesday, June 25th. Piper Sandler cut their price objective on shares of Visa from $322.00 to $319.00 and set an “overweight” rating on the stock in a report on Wednesday, July 24th. Keefe, Bruyette & Woods upgraded shares of Visa from a “moderate buy” rating to a “strong-buy” rating in a report on Tuesday, September 24th. Finally, Citigroup cut their price objective on shares of Visa from $321.00 to $319.00 and set a “buy” rating on the stock in a report on Wednesday, July 24th. Six equities research analysts have rated the stock with a hold rating, twenty-three have given a buy rating and two have issued a strong buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $312.04.

Visa Price Performance

Shares of Visa stock traded up $1.07 on Friday, hitting $277.93. The company had a trading volume of 4,260,920 shares, compared to its average volume of 7,201,777. The business has a 50-day simple moving average of $273.00 and a 200-day simple moving average of $273.07. The company has a debt-to-equity ratio of 0.54, a current ratio of 1.37 and a quick ratio of 1.37. The company has a market cap of $508.32 billion, a PE ratio of 31.05, a PEG ratio of 1.92 and a beta of 0.96. Visa Inc. has a 52 week low of $228.03 and a 52 week high of $293.07.

Visa (NYSE:V) last posted its quarterly earnings data on Tuesday, July 23rd. The credit-card processor reported $2.42 earnings per share (EPS) for the quarter, meeting the consensus estimate of $2.42. Visa had a net margin of 54.72% and a return on equity of 51.94%. The business had revenue of $8.90 billion during the quarter, compared to analysts’ expectations of $8.92 billion. During the same period last year, the firm posted $2.16 earnings per share. The business’s revenue was up 9.6% on a year-over-year basis. Research analysts expect that Visa Inc. will post 9.92 EPS for the current fiscal year.

Visa Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, September 3rd. Investors of record on Friday, August 9th were paid a dividend of $0.52 per share. This represents a $2.08 annualized dividend and a yield of 0.75%. The ex-dividend date of this dividend was Friday, August 9th. Visa’s dividend payout ratio is presently 23.24%.

Insider Activity at Visa

In related news, CEO Ryan Mcinerney sold 8,620 shares of the company’s stock in a transaction that occurred on Tuesday, September 3rd. The shares were sold at an average price of $276.37, for a total value of $2,382,309.40. Following the completion of the sale, the chief executive officer now owns 538 shares in the company, valued at approximately $148,687.06. This represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 0.19% 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.