Burford Brothers Inc. Sells 119 Shares of Visa Inc. $V

Burford Brothers Inc. reduced its stake in shares of Visa Inc. (NYSE:V) by 4.1% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. 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 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Keystone Global Partners LLC bought a new position in shares of Visa in the first quarter worth approximately $26,000. von Borstel & Associates Inc. purchased a new stake in Visa during the 1st quarter valued at $27,000. Family Legacy Financial Solutions LLC purchased a new stake in Visa during the 2nd quarter valued at $28,000. Harbor Asset Planning Inc. bought a new stake in Visa in the 2nd quarter worth $29,000. Finally, Cranbrook Wealth Management LLC increased its position in shares of Visa by 82.0% in 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 during the period. Institutional investors own 82.15% of the company’s stock.

Insider Buying and Selling at Visa

In related news, CEO Ryan Mcinerney sold 10,485 shares of the stock in a transaction dated 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 completion of the transaction, the chief executive officer directly owned 537 shares in the company, valued at $183,815.10. This trade represents a 95.13% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, General Counsel Julie B. Rottenberg sold 2,027 shares of the business’s stock in a transaction dated Monday, August 18th. The stock was sold at an average price of $344.02, for a total transaction of $697,328.54. Following the sale, the general counsel directly owned 11,925 shares in the company, valued at $4,102,438.50. The trade was a 14.53% decrease in their position. The disclosure for this sale can be found here. Company insiders own 0.13% of the company’s stock.

Analyst Ratings Changes

A number of research firms have recently weighed in on V. Weiss Ratings reiterated a “buy (b)” rating on shares of Visa in a report on Wednesday, October 8th. Wells Fargo & Company set a $412.00 price target on Visa and gave the company an “overweight” rating in a research report on Tuesday. Truist Financial cut their price objective on Visa from $400.00 to $397.00 and set a “buy” rating on the stock in a research report on Thursday, July 17th. Raymond James Financial reissued an “outperform” rating on shares of Visa in a research note on Wednesday, July 30th. Finally, UBS Group restated a “buy” rating and set a $415.00 target price (up previously from $405.00) on shares of Visa in a report on Wednesday, July 30th. One investment 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 company’s stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $389.74.

Visa Stock Performance

Visa stock opened at $347.17 on Wednesday. Visa Inc. has a fifty-two week low of $280.78 and a fifty-two week high of $375.51. The stock’s 50 day simple moving average is $344.68 and its two-hundred day simple moving average is $347.11. The company has a debt-to-equity ratio of 0.52, a quick ratio of 1.12 and a current ratio of 1.12. The stock has a market cap of $636.29 billion, a price-to-earnings ratio of 33.90, a PEG ratio of 2.04 and a beta of 0.90.

Visa (NYSE:V) last announced its earnings results on Tuesday, July 29th. The credit-card processor reported $2.98 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.85 by $0.13. The firm had revenue of $10.17 billion during the quarter, compared to analyst estimates of $9.82 billion. Visa had a return on equity of 58.93% and a net margin of 52.16%.The business’s revenue was up 14.3% compared to the same quarter last year. During the same quarter in the prior year, the company earned $2.42 EPS. As a group, analysts expect that Visa Inc. will post 11.3 earnings per share for the current fiscal year.

Visa Dividend Announcement

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

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.