DE Burlo Group Inc. grew its position in shares of Visa Inc. (NYSE:V) by 7.7% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 156,200 shares of the credit-card processor’s stock after acquiring an additional 11,200 shares during the period. Visa comprises 3.3% of DE Burlo Group Inc.’s portfolio, making the stock its 7th largest position. DE Burlo Group Inc.’s holdings in Visa were worth $14,648,000 at the end of the most recent quarter.
Other large investors have also recently modified their holdings of the company. Wallington Asset Management LLC raised its stake in shares of Visa by 3.8% during the second quarter. Wallington Asset Management LLC now owns 57,779 shares of the credit-card processor’s stock valued at $5,419,000 after acquiring an additional 2,090 shares during the last quarter. Carret Asset Management LLC raised its stake in Visa by 4.5% in the first quarter. Carret Asset Management LLC now owns 27,037 shares of the credit-card processor’s stock worth $2,403,000 after buying an additional 1,153 shares in the last quarter. Cypress Asset Management Inc. TX raised its stake in Visa by 31.1% in the second quarter. Cypress Asset Management Inc. TX now owns 14,720 shares of the credit-card processor’s stock worth $1,380,000 after buying an additional 3,495 shares in the last quarter. Meag Munich Ergo Kapitalanlagegesellschaft MBH raised its stake in Visa by 158.0% in the second quarter. Meag Munich Ergo Kapitalanlagegesellschaft MBH now owns 273,806 shares of the credit-card processor’s stock worth $25,804,000 after buying an additional 167,687 shares in the last quarter. Finally, Achmea Investment Management B.V. bought a new position in Visa in the first quarter worth about $7,938,000. 81.69% of the stock is owned by hedge funds and other institutional investors.
Visa Inc. (NYSE:V) opened at 109.71 on Monday. Visa Inc. has a 52-week low of $75.17 and a 52-week high of $110.74. The company has a market capitalization of $250.84 billion, a P/E ratio of 40.80 and a beta of 0.93. The firm has a 50-day moving average of $106.44 and a 200 day moving average of $98.96.
Visa (NYSE:V) last released its quarterly earnings data on Wednesday, October 25th. The credit-card processor reported $0.90 EPS for the quarter, beating the consensus estimate of $0.85 by $0.05. The business had revenue of $4.86 billion for the quarter, compared to the consensus estimate of $4.63 billion. Visa had a net margin of 36.49% and a return on equity of 31.80%. The business’s revenue for the quarter was up 13.9% on a year-over-year basis. During the same period in the prior year, the firm earned $0.78 EPS. Equities analysts predict that Visa Inc. will post $4.06 earnings per share for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 5th. Stockholders of record on Friday, November 17th will be issued a $0.195 dividend. This is an increase from Visa’s previous quarterly dividend of $0.17. This represents a $0.78 annualized dividend and a dividend yield of 0.71%. The ex-dividend date of this dividend is Thursday, November 16th. Visa’s dividend payout ratio is 23.57%.
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In other news, Director Mary B. Cranston sold 10,400 shares of the company’s stock in a transaction on Thursday, August 17th. The shares were sold at an average price of $103.32, for a total value of $1,074,528.00. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. 0.14% of the stock is owned by corporate insiders.
A number of research firms recently issued reports on V. Wells Fargo & Company raised shares of Visa from a “market perform” rating to an “outperform” rating and increased their price target for the stock from $107.01 to $120.00 in a research note on Tuesday, October 10th. Loop Capital increased their price target on shares of Visa from $101.00 to $111.00 and gave the stock a “buy” rating in a research note on Friday, July 21st. They noted that the move was a valuation call. Deutsche Bank AG increased their price target on shares of Visa from $124.00 to $150.00 and gave the stock a “buy” rating in a research note on Monday, July 10th. Cantor Fitzgerald began coverage on shares of Visa in a research note on Thursday, September 28th. They issued an “overweight” rating and a $120.00 price target for the company. Finally, Instinet increased their price target on shares of Visa from $105.00 to $120.00 and gave the stock a “buy” rating in a research note on Friday, July 21st. Three analysts have rated the stock with a hold rating, twenty-nine have issued a buy rating and one has issued a strong buy rating to the stock. The stock presently has a consensus rating of “Buy” and a consensus target price of $115.95.
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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