Burney Co. increased its position in shares of Visa Inc. (NYSE:V) by 20.4% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 60,068 shares of the credit-card processor’s stock after purchasing an additional 10,193 shares during the period. Burney Co.’s holdings in Visa were worth $5,672,000 at the end of the most recent quarter.
A number of other institutional investors have also recently added to or reduced their stakes in the stock. Motco boosted its stake in Visa by 25.1% during the second quarter. Motco now owns 1,176 shares of the credit-card processor’s stock worth $110,000 after buying an additional 236 shares during the period. BDO Wealth Advisors LLC purchased a new position in Visa during the second quarter worth about $115,000. Mascoma Wealth Management LLC purchased a new position in shares of Visa in the second quarter valued at approximately $122,000. SpiderRock Advisors LLC boosted its stake in shares of Visa by 107.1% in the second quarter. SpiderRock Advisors LLC now owns 1,309 shares of the credit-card processor’s stock valued at $124,000 after purchasing an additional 19,709 shares during the period. Finally, Advantage Investment Management LLC boosted its stake in shares of Visa by 27.4% in the first quarter. Advantage Investment Management LLC now owns 1,462 shares of the credit-card processor’s stock valued at $130,000 after purchasing an additional 314 shares during the period. Hedge funds and other institutional investors own 82.09% of the company’s stock.
V has been the subject of several recent research reports. BidaskClub raised shares of Visa from a “buy” rating to a “strong-buy” rating in a research note on Tuesday, July 25th. Zacks Investment Research lowered shares of Visa from a “buy” rating to a “hold” rating in a research note on Thursday, July 27th. Vetr lowered shares of Visa from a “hold” rating to a “sell” rating and set a $100.88 price objective for the company. in a research note on Tuesday, August 22nd. Robert W. Baird reissued a “buy” rating on shares of Visa in a research note on Thursday, August 24th. Finally, UBS AG reissued an “overweight” rating on shares of Visa in a research note on Thursday, August 24th. Three investment analysts have rated the stock with a hold rating, twenty-nine have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. The company has a consensus rating of “Buy” and an average target price of $116.08.
Visa (NYSE:V) last released its quarterly earnings data on Wednesday, October 25th. The credit-card processor reported $0.90 EPS for the quarter, topping the consensus estimate of $0.85 by $0.05. Visa had a net margin of 36.49% and a return on equity of 31.80%. The business had revenue of $4.86 billion for the quarter, compared to analyst estimates of $4.63 billion. During the same period in the previous year, the firm earned $0.78 EPS. The business’s revenue for the quarter was up 13.9% compared to the same quarter last year. analysts anticipate that Visa Inc. will post 4.05 earnings per share for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 5th. Investors of record on Friday, November 17th will be given a $0.195 dividend. The ex-dividend date of this dividend is Thursday, November 16th. This is a positive change from Visa’s previous quarterly dividend of $0.17. This represents a $0.78 annualized dividend and a dividend yield of 0.70%. Visa’s payout ratio is currently 27.86%.
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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