Burns J W & Co. Inc. NY Decreases Holdings in Visa Inc. (NYSE:V)

Burns J W & Co. Inc. NY lessened its position in shares of Visa Inc. (NYSE:V - Free Report) by 4.2% in the fourth quarter, according to its most recent filing with the SEC. The firm owned 112,886 shares of the credit-card processor's stock after selling 4,963 shares during the quarter. Visa makes up approximately 4.6% of Burns J W & Co. Inc. NY's investment portfolio, making the stock its 3rd largest holding. Burns J W & Co. Inc. NY's holdings in Visa were worth $35,676,000 at the end of the most recent reporting period.

Other hedge funds have also recently added to or reduced their stakes in the company. Peterson Financial Group Inc. acquired a new stake in Visa during the third quarter worth approximately $26,000. Reston Wealth Management LLC bought a new position in shares of Visa during the 3rd quarter worth approximately $31,000. Modus Advisors LLC acquired a new stake in shares of Visa during the 4th quarter worth approximately $32,000. Fairway Wealth LLC bought a new stake in shares of Visa in the 2nd quarter valued at $39,000. Finally, West Financial Advisors LLC lifted its position in shares of Visa by 101.4% during the 3rd quarter. West Financial Advisors LLC now owns 145 shares of the credit-card processor's stock valued at $40,000 after acquiring an additional 73 shares during the period. Institutional investors own 82.15% of the company's stock.

Visa Stock Performance

V traded up $2.32 during trading on Tuesday, hitting $309.24. 5,107,561 shares of the company traded hands, compared to its average volume of 5,958,574. The firm has a market cap of $576.08 billion, a P/E ratio of 31.78, a price-to-earnings-growth ratio of 2.11 and a beta of 0.96. The company has a quick ratio of 1.28, a current ratio of 1.28 and a debt-to-equity ratio of 0.55. Visa Inc. has a one year low of $252.70 and a one year high of $321.61. The stock's fifty day moving average is $312.76 and its 200 day moving average is $287.65.

Visa (NYSE:V - Get Free Report) last issued its quarterly earnings results on Tuesday, October 29th. The credit-card processor reported $2.71 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.58 by $0.13. The company had revenue of $9.62 billion during the quarter, compared to analyst estimates of $9.49 billion. Visa had a net margin of 54.96% and a return on equity of 53.16%. Visa's quarterly revenue was up 11.7% compared to the same quarter last year. During the same quarter last year, the business posted $2.33 EPS. As a group, equities analysts predict that Visa Inc. will post 11.23 EPS for the current fiscal year.

Visa Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, December 2nd. Stockholders of record on Tuesday, November 12th were given a dividend of $0.59 per share. This represents a $2.36 dividend on an annualized basis and a dividend yield of 0.76%. The ex-dividend date was Tuesday, November 12th. This is a boost from Visa's previous quarterly dividend of $0.52. Visa's dividend payout ratio is currently 24.25%.

Wall Street Analysts Forecast Growth

V has been the subject of a number of research reports. Susquehanna raised their price target on shares of Visa from $339.00 to $375.00 and gave the stock a "positive" rating in a report on Wednesday, December 11th. Royal Bank of Canada raised their target price on Visa from $311.00 to $322.00 and gave the company an "outperform" rating in a research note on Wednesday, October 30th. Piper Sandler upped their price target on Visa from $319.00 to $322.00 and gave the stock an "overweight" rating in a research note on Wednesday, October 30th. Deutsche Bank Aktiengesellschaft raised their price objective on Visa from $300.00 to $340.00 and gave the company a "buy" rating in a research note on Wednesday, October 30th. Finally, BMO Capital Markets increased their target price on Visa from $310.00 to $320.00 and gave the stock an "outperform" rating in a report on Wednesday, October 30th. Four investment analysts have rated the stock with a hold rating, twenty-four have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the company has an average rating of "Moderate Buy" and a consensus price target of $331.92.

Insider Transactions at Visa

In other Visa news, insider Paul D. Fabara sold 2,171 shares of Visa stock in a transaction dated Friday, November 22nd. The stock was sold at an average price of $307.97, for a total transaction of $668,602.87. Following the completion of the transaction, the insider now owns 17,894 shares of the company's stock, valued at $5,510,815.18. The trade was a 10.82 % 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 8,620 shares of the company's stock in a transaction dated Thursday, January 2nd. The shares were sold at an average price of $317.78, for a total value of $2,739,263.60. The disclosure for this sale can be found here. 0.13% of the stock is owned by corporate insiders.

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.