DE Burlo Group Inc. Cuts Position in Visa Inc. (NYSE:V)

DE Burlo Group Inc. decreased its position in shares of Visa Inc. (NYSE:V) by 0.5% during the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 23,822 shares of the credit-card processor’s stock after selling 115 shares during the period. Visa makes up approximately 1.2% of DE Burlo Group Inc.’s holdings, making the stock its 29th largest holding. DE Burlo Group Inc.’s holdings in Visa were worth $8,349,000 at the end of the most recent reporting period.

Several other hedge funds have also recently added to or reduced their stakes in the company. von Borstel & Associates Inc. bought a new position in shares of Visa during the first quarter valued at about $27,000. Measured Risk Portfolios Inc. purchased a new stake in Visa during the 4th quarter valued at about $47,000. Navigoe LLC purchased a new stake in Visa during the 4th quarter valued at about $53,000. O Brien Wealth Partners LLC bought a new position in Visa during the 1st quarter worth approximately $54,000. Finally, Hurley Capital LLC purchased a new position in Visa in the 4th quarter worth approximately $56,000. Institutional investors own 82.15% of the company’s stock.

Visa Trading Up 0.8%

NYSE V opened at $356.93 on Friday. Visa Inc. has a 12 month low of $254.51 and a 12 month high of $375.51. 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 stock’s fifty day moving average price is $356.30 and its 200-day moving average price is $345.00. The stock has a market cap of $658.60 billion, a P/E ratio of 35.87, a P/E/G ratio of 2.39 and a beta of 0.92.

Visa (NYSE:V) last announced its quarterly earnings data on Tuesday, April 29th. The credit-card processor reported $2.76 EPS for the quarter, beating the consensus estimate of $2.68 by $0.08. The company had revenue of $9.59 billion for the quarter, compared to the consensus estimate of $9.57 billion. Visa had a net margin of 52.86% and a return on equity of 56.28%. Visa’s revenue for the quarter was up 9.3% on a year-over-year basis. During the same period in the prior year, the firm posted $2.51 EPS. As a group, equities analysts forecast that Visa Inc. will post 11.3 EPS for the current fiscal year.

Visa Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, June 2nd. Investors of record on Tuesday, May 13th were issued a $0.59 dividend. The ex-dividend date of this dividend was Tuesday, May 13th. This represents a $2.36 dividend on an annualized basis and a yield of 0.66%. Visa’s payout ratio is currently 23.72%.

Wall Street Analyst Weigh In

V has been the subject of a number of analyst reports. Wall Street Zen raised Visa from a “hold” rating to a “buy” rating in a research note on Monday, May 12th. William Blair reissued an “outperform” rating on shares of Visa in a research report on Wednesday, April 30th. Jefferies Financial Group raised their price target on shares of Visa from $400.00 to $410.00 and gave the stock a “buy” rating in a report on Tuesday, May 27th. Truist Financial lowered their price objective on shares of Visa from $400.00 to $397.00 and set a “buy” rating for the company in a research note on Thursday, July 17th. Finally, Evercore ISI started coverage on Visa in a research note on Wednesday, April 9th. They issued an “in-line” rating and a $330.00 target price on the stock. Five equities research analysts have rated the stock with a hold rating, twenty-three have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, Visa presently has an average rating of “Moderate Buy” and an average target price of $375.52.

Insider Buying and Selling

In other Visa news, insider Paul D. Fabara sold 46,214 shares of the stock in a transaction on Thursday, June 5th. The stock was sold at an average price of $370.00, for a total transaction of $17,099,180.00. Following the sale, the insider directly owned 26,413 shares in the company, valued at approximately $9,772,810. This trade represents a 63.63% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, General Counsel Julie B. Rottenberg sold 2,575 shares of the business’s stock in a transaction on Thursday, May 1st. The stock was sold at an average price of $345.58, for a total value of $889,868.50. Following the completion of the transaction, the general counsel owned 11,925 shares of the company’s stock, valued at $4,121,041.50. This represents a 17.76% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 101,108 shares of company stock worth $36,771,200 in the last three months. Insiders own 0.13% of the company’s stock.

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.