Burr Financial Services LLC Lowers Holdings in Visa Inc. (NYSE:V)

Burr Financial Services LLC reduced its stake in Visa Inc. (NYSE:V) by 10.8% during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 1,995 shares of the credit-card processor’s stock after selling 242 shares during the period. Visa makes up 0.4% of Burr Financial Services LLC’s portfolio, making the stock its 21st biggest position. Burr Financial Services LLC’s holdings in Visa were worth $524,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also recently modified their holdings of V. Vanguard Group Inc. lifted its position in Visa by 0.6% during the first quarter. Vanguard Group Inc. now owns 142,202,830 shares of the credit-card processor’s stock valued at $39,685,966,000 after purchasing an additional 788,908 shares during the period. Capital International Investors raised its stake in 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 buying an additional 626,618 shares during 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 buying an additional 968,008 shares during the period. Norges Bank purchased a new position in shares of Visa in the 4th quarter worth $3,895,015,000. Finally, Jennison Associates LLC grew its holdings in shares of Visa by 0.7% in the fourth quarter. Jennison Associates LLC now owns 11,824,113 shares of the credit-card processor’s stock worth $3,078,408,000 after acquiring an additional 85,123 shares during the period. 82.15% of the stock is currently owned by institutional investors.

Visa Trading Up 0.0 %

NYSE:V traded up $0.10 during midday trading on Wednesday, hitting $268.15. 6,639,302 shares of the company traded hands, compared to its average volume of 7,217,395. The firm has a market capitalization of $490.42 billion, a P/E ratio of 29.99, a P/E/G ratio of 1.89 and a beta of 0.95. The firm’s fifty day moving average is $266.10 and its 200-day moving average is $273.43. Visa Inc. has a 12-month low of $227.78 and a 12-month high of $290.96. The company has a current ratio of 1.37, a quick ratio of 1.37 and a debt-to-equity ratio of 0.54.

Visa (NYSE:V) last issued its earnings results on Tuesday, July 23rd. The credit-card processor reported $2.42 EPS for the quarter, hitting analysts’ consensus estimates of $2.42. The business had revenue of $8.90 billion for the quarter, compared to the consensus estimate of $8.92 billion. Visa had a net margin of 54.72% and a return on equity of 51.94%. The company’s revenue for the quarter was up 9.6% compared to the same quarter last year. During the same period in the prior year, the firm earned $2.16 EPS. On average, sell-side analysts predict that Visa Inc. will post 9.91 EPS for the current year.

Visa Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 3rd. Stockholders of record on Friday, August 9th will be paid a dividend of $0.52 per share. The ex-dividend date of this dividend is Friday, August 9th. This represents a $2.08 dividend on an annualized basis and a dividend yield of 0.78%. Visa’s dividend payout ratio is presently 23.24%.

Wall Street Analyst Weigh In

Several research analysts have weighed in on the stock. Evercore ISI decreased their price target on shares of Visa from $335.00 to $330.00 and set an “outperform” rating on the stock in a research report on Tuesday, June 25th. Royal Bank of Canada decreased their target price on Visa from $315.00 to $311.00 and set an “outperform” rating on the stock in a report on Wednesday, July 24th. TD Cowen cut their price target on Visa from $320.00 to $318.00 and set a “buy” rating for the company in a report on Wednesday, July 24th. Citigroup decreased their price objective on Visa from $321.00 to $319.00 and set a “buy” rating on the stock in a research note on Wednesday, July 24th. Finally, JPMorgan Chase & Co. raised their target price on shares of Visa from $290.00 to $320.00 and gave the company an “overweight” rating in a research note on Tuesday. Six research analysts have rated the stock with a hold rating, twenty-one have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $308.50.

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.