DE Burlo Group Inc. Sells 90,088 Shares of Visa Inc. (NYSE:V)

DE Burlo Group Inc. cut its stake in shares of Visa Inc. (NYSE:V) by 78.2% in the third quarter, according to the company in its most recent disclosure with the SEC. The firm owned 25,112 shares of the credit-card processor’s stock after selling 90,088 shares during the quarter. DE Burlo Group Inc.’s holdings in Visa were worth $6,905,000 as of its most recent filing with the SEC.

A number of other institutional investors have also made changes to their positions in V. Peterson Financial Group Inc. acquired a new position in shares of Visa during the 3rd quarter worth about $26,000. POM Investment Strategies LLC raised its stake in shares of Visa by 970.0% during the 2nd quarter. POM Investment Strategies LLC now owns 107 shares of the credit-card processor’s stock worth $28,000 after purchasing an additional 97 shares in the last quarter. Reston Wealth Management LLC bought a new stake in shares of Visa during the 3rd quarter worth approximately $31,000. TruNorth Capital Management LLC raised its stake in shares of Visa by 211.9% during the 2nd quarter. TruNorth Capital Management LLC now owns 131 shares of the credit-card processor’s stock worth $34,000 after purchasing an additional 89 shares in the last quarter. Finally, Bbjs Financial Advisors LLC acquired a new position in shares of Visa during the 2nd quarter worth approximately $35,000. 82.15% of the stock is owned by institutional investors.

Visa Price Performance

Shares of NYSE V opened at $307.39 on Thursday. The stock has a market cap of $560.16 billion, a PE ratio of 31.59, a price-to-earnings-growth ratio of 2.09 and a beta of 0.95. Visa Inc. has a fifty-two week low of $250.03 and a fifty-two week high of $312.44. The company has a debt-to-equity ratio of 0.55, a quick ratio of 1.28 and a current ratio of 1.28. The stock has a fifty day moving average of $288.57 and a 200-day moving average of $276.84.

Visa (NYSE:V) last posted its earnings results on Tuesday, October 29th. The credit-card processor reported $2.71 EPS for the quarter, topping the consensus estimate of $2.58 by $0.13. Visa had a return on equity of 53.16% and a net margin of 54.96%. The business had revenue of $9.62 billion during the quarter, compared to analysts’ expectations of $9.49 billion. During the same period in the previous year, the business earned $2.33 earnings per share. The firm’s revenue was up 11.7% on a year-over-year basis. Equities research analysts anticipate that Visa Inc. will post 11.19 earnings per share for the current year.

Visa Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, December 2nd. Stockholders of record on Tuesday, November 12th will be paid a $0.59 dividend. This represents a $2.36 dividend on an annualized basis and a dividend yield of 0.77%. The ex-dividend date is Tuesday, November 12th. This is a positive change from Visa’s previous quarterly dividend of $0.52. Visa’s payout ratio is 24.25%.

Insider Activity

In other Visa news, CEO Ryan Mcinerney sold 8,620 shares of the company’s stock in a transaction that occurred on Tuesday, September 3rd. The stock was sold at an average price of $276.37, for a total transaction of $2,382,309.40. Following the transaction, the chief executive officer now owns 538 shares in the company, valued at approximately $148,687.06. This represents a 94.13 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 0.19% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

V has been the topic of a number of recent analyst reports. Oppenheimer reissued an “outperform” rating and set a $321.00 target price (up from $318.00) on shares of Visa in a report on Wednesday, October 30th. Bank of America upped their price objective on Visa from $279.00 to $308.00 and gave the stock a “neutral” rating in a research report on Tuesday, September 17th. StockNews.com upgraded Visa from a “hold” rating to a “buy” rating in a research report on Friday, August 9th. Morgan Stanley increased their target price on Visa from $322.00 to $326.00 and gave the company an “overweight” rating in a research report on Wednesday, October 30th. Finally, Compass Point assumed coverage on Visa in a research note on Wednesday, September 4th. They issued a “buy” rating and a $319.00 price target for the company. Four equities research analysts have rated the stock with a hold rating, twenty-four have given a buy rating and two have assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $321.74.

About Visa

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.