Burford Brothers Inc. Lowers Holdings in Visa Inc. $V

Burford Brothers Inc. trimmed its stake in Visa Inc. (NYSE:V) by 4.1% during the 2nd quarter, HoldingsChannel reports. The fund owned 2,812 shares of the credit-card processor’s stock after selling 119 shares during the quarter. Burford Brothers Inc.’s holdings in Visa were worth $998,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently modified their holdings of V. Keystone Global Partners LLC bought a new stake in Visa during the 1st quarter valued at about $26,000. von Borstel & Associates Inc. purchased a new stake in shares of Visa during the first quarter valued at approximately $27,000. Family Legacy Financial Solutions LLC purchased a new stake in shares of Visa during the second quarter valued at approximately $28,000. Harbor Asset Planning Inc. bought a new stake in shares of Visa during the second quarter valued at approximately $29,000. Finally, Cranbrook Wealth Management LLC increased its position in shares of Visa by 82.0% during the second quarter. Cranbrook Wealth Management LLC now owns 91 shares of the credit-card processor’s stock valued at $32,000 after acquiring an additional 41 shares in the last quarter. 82.15% of the stock is currently owned by institutional investors.

Visa Price Performance

NYSE V opened at $347.17 on Wednesday. The business’s fifty day moving average price is $344.68 and its 200-day moving average price is $347.11. The stock has a market capitalization of $636.29 billion, a price-to-earnings ratio of 33.90, a PEG ratio of 2.04 and a beta of 0.90. The company has a debt-to-equity ratio of 0.52, a current ratio of 1.12 and a quick ratio of 1.12. Visa Inc. has a 1-year low of $280.78 and a 1-year high of $375.51.

Visa (NYSE:V) last released its quarterly earnings results on Tuesday, July 29th. The credit-card processor reported $2.98 earnings per share for the quarter, beating the consensus estimate of $2.85 by $0.13. The firm had revenue of $10.17 billion for the quarter, compared to analysts’ expectations of $9.82 billion. Visa had a return on equity of 58.93% and a net margin of 52.16%.The company’s revenue was up 14.3% compared to the same quarter last year. During the same period in the prior year, the firm earned $2.42 EPS. On average, equities analysts predict that Visa Inc. will post 11.3 earnings per share for the current year.

Visa Dividend Announcement

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

Analyst Ratings Changes

Several analysts have commented on the company. Raymond James Financial reiterated an “outperform” rating on shares of Visa in a research note on Wednesday, July 30th. Morgan Stanley increased their price objective on Visa from $386.00 to $402.00 and gave the company an “overweight” rating in a research report on Wednesday, July 30th. Erste Group Bank downgraded Visa from a “buy” rating to a “hold” rating in a report on Monday, September 22nd. Macquarie upped their target price on shares of Visa from $380.00 to $425.00 and gave the company an “outperform” rating in a research note on Thursday, July 31st. Finally, Deutsche Bank Aktiengesellschaft assumed coverage on shares of Visa in a report on Thursday, July 17th. They set a “buy” rating and a $410.00 price target on the stock. One equities research analyst has rated the stock with a Strong Buy rating, twenty-one have given a Buy rating and five have assigned a Hold rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $389.74.

Insider Buying and Selling at Visa

In other news, General Counsel Julie B. Rottenberg sold 2,027 shares of the stock in a transaction on Monday, August 18th. The stock was sold at an average price of $344.02, for a total transaction of $697,328.54. Following the transaction, the general counsel directly owned 11,925 shares of the company’s stock, valued at $4,102,438.50. This represents a 14.53% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CEO Ryan Mcinerney sold 10,485 shares of the stock in a transaction on Wednesday, October 1st. The shares were sold at an average price of $342.30, for a total value of $3,589,015.50. Following the transaction, the chief executive officer directly owned 537 shares in the company, valued at $183,815.10. The trade was a 95.13% decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.13% of the stock is owned by corporate insiders.

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.