Burney Co. Acquires 4,578 Shares of Visa Inc. (NYSE:V)

Burney Co. boosted its holdings in shares of Visa Inc. (NYSE:V - Free Report) by 14.3% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 36,637 shares of the credit-card processor's stock after buying an additional 4,578 shares during the quarter. Burney Co.'s holdings in Visa were worth $12,840,000 at the end of the most recent quarter.

Other hedge funds also recently bought and sold shares of the company. Geode Capital Management LLC grew its position in Visa by 4.4% during the fourth quarter. Geode Capital Management LLC now owns 40,345,176 shares of the credit-card processor's stock worth $12,729,901,000 after buying an additional 1,689,926 shares in the last quarter. Capital International Investors grew its position in Visa by 3.8% during the fourth quarter. Capital International Investors now owns 23,816,573 shares of the credit-card processor's stock worth $7,526,660,000 after buying an additional 866,596 shares in the last quarter. Capital World Investors grew its position in Visa by 1.0% during the fourth quarter. Capital World Investors now owns 23,277,622 shares of the credit-card processor's stock worth $7,356,614,000 after buying an additional 241,057 shares in the last quarter. Northern Trust Corp grew its position in Visa by 18.0% during the fourth quarter. Northern Trust Corp now owns 18,260,714 shares of the credit-card processor's stock worth $5,771,116,000 after buying an additional 2,785,707 shares in the last quarter. Finally, Norges Bank acquired a new stake in Visa during the fourth quarter worth about $5,171,271,000. 82.15% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of equities research analysts recently weighed in on the company. Wall Street Zen raised Visa from a "hold" rating to a "buy" rating in a research report on Monday, May 12th. Macquarie cut their price target on shares of Visa from $400.00 to $380.00 and set an "outperform" rating for the company in a research note on Wednesday, April 30th. Piper Sandler raised their price target on shares of Visa from $383.00 to $384.00 and gave the stock an "overweight" rating in a research note on Wednesday, April 30th. Oppenheimer raised their price target on shares of Visa from $390.00 to $391.00 and gave the stock an "outperform" rating in a research note on Wednesday, July 2nd. Finally, BMO Capital Markets raised their price target on shares of Visa from $370.00 to $380.00 and gave the stock an "outperform" rating in a research note on Wednesday, April 30th. Five equities research analysts have rated the stock with a hold rating, twenty-three have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average target price of $375.52.

Visa Price Performance

Shares of Visa stock traded down $0.99 on Thursday, hitting $354.30. 5,882,734 shares of the company traded hands, compared to its average volume of 6,597,131. The firm's 50-day simple moving average is $356.62 and its 200 day simple moving average is $344.40. The company has a current ratio of 1.08, a quick ratio of 1.08 and a debt-to-equity ratio of 0.45. The company has a market cap of $653.74 billion, a P/E ratio of 35.61, a P/E/G ratio of 2.38 and a beta of 0.92. Visa Inc. has a 12-month low of $252.70 and a 12-month high of $375.51.

Visa (NYSE:V - Get Free Report) last issued its earnings results on Tuesday, April 29th. The credit-card processor reported $2.76 EPS for the quarter, topping analysts' consensus estimates of $2.68 by $0.08. The company had revenue of $9.59 billion for the quarter, compared to analysts' expectations of $9.57 billion. Visa had a net margin of 52.86% and a return on equity of 56.28%. The firm's revenue was up 9.3% compared to the same quarter last year. During the same quarter last year, the company earned $2.51 EPS. Analysts expect that Visa Inc. will post 11.3 earnings per share for the current fiscal year.

Visa Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Monday, June 2nd. Shareholders of record on Tuesday, May 13th were issued a $0.59 dividend. This represents a $2.36 dividend on an annualized basis and a yield of 0.67%. The ex-dividend date was Tuesday, May 13th. Visa's dividend payout ratio (DPR) is presently 23.72%.

Insiders Place Their Bets

In other Visa news, CEO Ryan Mcinerney sold 8,630 shares of the firm's stock in a transaction on Tuesday, July 1st. The shares were sold at an average price of $353.82, for a total value of $3,053,466.60. Following the sale, the chief executive officer owned 537 shares of the company's stock, valued at $190,001.34. This trade represents a 94.14% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Paul D. Fabara sold 11,636 shares of Visa stock in a transaction dated Wednesday, June 11th. The shares were sold at an average price of $375.00, for a total transaction of $4,363,500.00. Following the sale, the insider directly owned 26,413 shares in the company, valued at $9,904,875. The trade was a 30.58% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 101,108 shares of company stock valued at $36,771,200 in the last quarter. Insiders own 0.13% 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.