Sunburst Financial Group LLC Grows Stake in Visa Inc. $V

Sunburst Financial Group LLC increased its position in shares of Visa Inc. (NYSE:V) by 7.9% during the second quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 3,116 shares of the credit-card processor’s stock after buying an additional 228 shares during the quarter. Sunburst Financial Group LLC’s holdings in Visa were worth $1,106,000 as of its most recent SEC filing.

Other hedge funds have also recently added to or reduced their stakes in the company. Keystone Global Partners LLC purchased a new position in Visa during the 1st quarter worth approximately $26,000. Family Legacy Financial Solutions LLC purchased a new position in Visa during the 2nd quarter worth approximately $28,000. Harbor Asset Planning Inc. purchased a new position in Visa during the 2nd quarter worth approximately $29,000. Cranbrook Wealth Management LLC grew its stake in Visa by 82.0% during the 2nd quarter. Cranbrook Wealth Management LLC now owns 91 shares of the credit-card processor’s stock worth $32,000 after buying an additional 41 shares during the last quarter. Finally, Hoese & Co LLP purchased a new position in Visa during the 2nd quarter worth approximately $36,000. Hedge funds and other institutional investors own 82.15% of the company’s stock.

Insider Activity at Visa

In related news, Director Lloyd Carney sold 900 shares of the firm’s stock in a transaction that occurred on Tuesday, November 4th. The stock was sold at an average price of $336.48, for a total value of $302,832.00. Following the completion of the transaction, the director directly owned 2,468 shares of the company’s stock, valued at $830,432.64. This trade represents a 26.72% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO Ryan Mcinerney sold 10,485 shares of the firm’s stock in a transaction that occurred on Monday, November 3rd. The shares were sold at an average price of $341.00, for a total value of $3,575,385.00. Following the completion of the transaction, the chief executive officer directly owned 537 shares of the company’s stock, valued at $183,117. The trade was a 95.13% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold 23,897 shares of company stock valued at $8,164,561 in the last ninety days. Corporate insiders own 0.13% of the company’s stock.

Wall Street Analyst Weigh In

V has been the topic of a number of research reports. Deutsche Bank Aktiengesellschaft initiated coverage on Visa in a research note on Thursday, July 17th. They set a “buy” rating and a $410.00 price target on the stock. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Visa in a research report on Wednesday, October 8th. Robert W. Baird set a $425.00 price objective on Visa in a research report on Wednesday, October 29th. UBS Group set a $425.00 price objective on Visa and gave the stock a “buy” rating in a research report on Wednesday, October 29th. Finally, Wells Fargo & Company raised Visa to a “strong-buy” rating in a research report on Wednesday, October 22nd. Four research analysts have rated the stock with a Strong Buy rating, seventeen have issued a Buy rating and five have issued a Hold rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $400.00.

Visa Stock Up 0.0%

V opened at $340.31 on Thursday. The company has a debt-to-equity ratio of 0.53, a current ratio of 1.08 and a quick ratio of 1.12. The business has a 50 day simple moving average of $344.10 and a 200-day simple moving average of $348.59. The stock has a market capitalization of $623.72 billion, a P/E ratio of 33.33, a P/E/G ratio of 2.06 and a beta of 0.87. Visa Inc. has a 12 month low of $299.00 and a 12 month high of $375.51.

Visa (NYSE:V) last posted its quarterly earnings results on Tuesday, October 28th. The credit-card processor reported $2.98 EPS for the quarter, beating the consensus estimate of $2.97 by $0.01. The business had revenue of $10.72 billion during the quarter, compared to analysts’ expectations of $10.60 billion. Visa had a return on equity of 60.31% and a net margin of 50.15%.The company’s quarterly revenue was up 11.5% compared to the same quarter last year. During the same period last year, the firm earned $2.71 EPS. On average, equities analysts anticipate that Visa Inc. will post 11.3 earnings per share for the current fiscal year.

Visa Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, December 1st. Investors of record on Wednesday, November 12th will be paid a $0.67 dividend. This represents a $2.68 annualized dividend and a yield of 0.8%. The ex-dividend date of this dividend is Wednesday, November 12th. This is an increase from Visa’s previous quarterly dividend of $0.59. Visa’s dividend payout ratio (DPR) is 23.11%.

Visa 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.