Visa Inc. (V) Shares Sold by Burns J W & Co. Inc. NY
Burns J W & Co. Inc. NY reduced its stake in Visa Inc. (NYSE:V) by 0.2% in the second quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 162,320 shares of the credit-card processor’s stock after selling 399 shares during the quarter. Visa makes up 4.1% of Burns J W & Co. Inc. NY’s investment portfolio, making the stock its 2nd largest holding. Burns J W & Co. Inc. NY’s holdings in Visa were worth $15,222,000 as of its most recent filing with the Securities and Exchange Commission.
A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. Clearbridge Investments LLC increased its position in shares of Visa by 41.4% during the 1st quarter. Clearbridge Investments LLC now owns 9,145,672 shares of the credit-card processor’s stock valued at $812,776,000 after purchasing an additional 2,677,533 shares during the last quarter. Swiss National Bank increased its position in shares of Visa by 23.2% during the 1st quarter. Swiss National Bank now owns 7,360,428 shares of the credit-card processor’s stock valued at $654,121,000 after purchasing an additional 1,388,200 shares during the last quarter. Akre Capital Management LLC increased its position in shares of Visa by 35.0% during the 1st quarter. Akre Capital Management LLC now owns 4,889,020 shares of the credit-card processor’s stock valued at $434,487,000 after purchasing an additional 1,267,080 shares during the last quarter. Karp Capital Management Corp increased its position in shares of Visa by 3,256.5% during the 1st quarter. Karp Capital Management Corp now owns 970,495 shares of the credit-card processor’s stock valued at $86,248,000 after purchasing an additional 941,581 shares during the last quarter. Finally, MUFG Securities EMEA plc increased its position in shares of Visa by 7.0% during the 1st quarter. MUFG Securities EMEA plc now owns 11,768,474 shares of the credit-card processor’s stock valued at $1,045,864,000 after purchasing an additional 775,000 shares during the last quarter. 81.68% of the stock is owned by institutional investors and hedge funds.
Shares of Visa Inc. (V) traded up 0.09% during trading on Monday, hitting $105.39. The company had a trading volume of 2,317,719 shares. Visa Inc. has a 52 week low of $75.17 and a 52 week high of $106.83. The firm’s 50 day moving average is $102.82 and its 200-day moving average is $95.21. The stock has a market capitalization of $240.97 billion, a P/E ratio of 39.19 and a beta of 0.94.
Visa (NYSE:V) last announced its quarterly earnings results on Thursday, July 20th. The credit-card processor reported $0.86 EPS for the quarter, beating analysts’ consensus estimates of $0.81 by $0.05. Visa had a return on equity of 30.95% and a net margin of 36.53%. The company had revenue of $4.57 billion during the quarter, compared to analyst estimates of $4.36 billion. During the same period in the prior year, the company earned $0.69 earnings per share. The firm’s revenue was up 25.8% on a year-over-year basis. Equities research analysts anticipate that Visa Inc. will post $3.43 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which was paid on Tuesday, September 5th. Investors of record on Friday, August 18th were paid a dividend of $0.165 per share. This represents a $0.66 dividend on an annualized basis and a yield of 0.63%. The ex-dividend date of this dividend was Wednesday, August 16th. Visa’s payout ratio is presently 24.54%.
V has been the subject of several research analyst reports. Oppenheimer Holdings, Inc. raised their target price on Visa from $100.00 to $106.00 in a research report on Tuesday, July 18th. Vetr raised Visa from a “hold” rating to a “buy” rating and set a $100.12 target price for the company in a research report on Tuesday, June 27th. Mizuho initiated coverage on Visa in a research report on Tuesday, June 27th. They set a “buy” rating and a $115.00 target price for the company. Jefferies Group LLC reaffirmed a “buy” rating and set a $104.00 target price on shares of Visa in a research report on Sunday, June 25th. Finally, BidaskClub downgraded Visa from a “strong-buy” rating to a “buy” rating in a research note on Tuesday, June 13th. Four analysts have rated the stock with a hold rating, twenty-seven have assigned a buy rating and one has given a strong buy rating to the company’s stock. Visa currently has an average rating of “Buy” and a consensus target price of $105.35.
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In related news, Director Mary B. Cranston sold 10,400 shares of the stock in a transaction that occurred on Thursday, August 17th. The stock was sold at an average price of $103.32, for a total transaction of $1,074,528.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Tullier Kelly Mahon sold 29,772 shares of the stock in a transaction that occurred on Thursday, July 27th. The shares were sold at an average price of $100.91, for a total value of $3,004,292.52. Following the transaction, the executive vice president now directly owns 17,360 shares of the company’s stock, valued at $1,751,797.60. The disclosure for this sale can be found here. 0.14% of the stock is currently owned by corporate insiders.
Visa Inc (Visa) is a payments technology company that connects consumers, merchants, financial institutions, businesses, strategic partners and government entities to electronic payments. The Company operates through payment services segment. The Company enables global commerce through the transfer of value and information among the participants.
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