Sunburst Financial Group LLC Buys 128 Shares of Visa Inc. (NYSE:V)

Sunburst Financial Group LLC raised its stake in Visa Inc. (NYSE:V) by 5.3% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 2,557 shares of the credit-card processor’s stock after acquiring an additional 128 shares during the period. Sunburst Financial Group LLC’s holdings in Visa were worth $703,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently bought and sold shares of the company. KMG Fiduciary Partners LLC lifted its stake in shares of Visa by 0.3% during the third quarter. KMG Fiduciary Partners LLC now owns 13,933 shares of the credit-card processor’s stock valued at $3,831,000 after acquiring an additional 37 shares during the period. Iron Horse Wealth Management LLC increased its holdings in shares of Visa by 15.9% in the third quarter. Iron Horse Wealth Management LLC now owns 270 shares of the credit-card processor’s stock worth $74,000 after acquiring an additional 37 shares in the last quarter. Tlwm grew its holdings in shares of Visa by 0.7% during the second quarter. Tlwm now owns 5,241 shares of the credit-card processor’s stock worth $1,376,000 after buying an additional 38 shares in the last quarter. Meridian Financial Partners LLC grew its holdings in shares of Visa by 0.5% during the second quarter. Meridian Financial Partners LLC now owns 8,160 shares of the credit-card processor’s stock worth $2,196,000 after buying an additional 38 shares in the last quarter. Finally, First National Corp MA ADV grew its holdings in shares of Visa by 1.0% during the third quarter. First National Corp MA ADV now owns 3,841 shares of the credit-card processor’s stock worth $1,056,000 after buying an additional 38 shares in the last quarter. Institutional investors and hedge funds own 82.15% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages recently commented on V. Oppenheimer reissued an “outperform” rating and set a $321.00 price target (up from $318.00) on shares of Visa in a research report on Wednesday. JPMorgan Chase & Co. lifted their price target on Visa from $290.00 to $320.00 and gave the stock an “overweight” rating in a report on Tuesday, August 20th. The Goldman Sachs Group restated a “buy” rating and set a $317.00 price objective on shares of Visa in a research note on Thursday, September 12th. Bank of America raised their price objective on Visa from $279.00 to $308.00 and gave the stock a “neutral” rating in a research note on Tuesday, September 17th. Finally, Macquarie lifted their price target on Visa from $300.00 to $335.00 and gave the company an “outperform” rating in a research note on Wednesday. Four equities research analysts have rated the stock with a hold rating, twenty-four have given a buy rating and two have issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $320.07.

Insiders Place Their Bets

In other 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 value of $2,382,309.40. Following the completion of the transaction, the chief executive officer now directly owns 538 shares of the company’s stock, valued at $148,687.06. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Corporate insiders own 0.19% of the company’s stock.

Visa Stock Down 0.1 %

Shares of NYSE:V opened at $289.89 on Friday. The company has a market capitalization of $528.27 billion, a price-to-earnings ratio of 29.79, a P/E/G ratio of 2.00 and a beta of 0.96. The company has a debt-to-equity ratio of 0.55, a current ratio of 1.28 and a quick ratio of 1.37. The business’s 50-day moving average is $280.53 and its 200-day moving average is $273.50. Visa Inc. has a 1 year low of $232.99 and a 1 year high of $296.34.

Visa (NYSE:V) last issued its earnings results on Tuesday, October 29th. The credit-card processor reported $2.71 EPS for the quarter, beating analysts’ consensus estimates 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 analyst estimates of $9.49 billion. During the same period in the previous year, the company posted $2.33 EPS. The firm’s revenue was up 11.7% compared to the same quarter last year. Equities research analysts predict that Visa Inc. will post 11.12 earnings per share for the current year.

Visa Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, December 2nd. Shareholders of record on Tuesday, November 12th will be issued a dividend of $0.59 per share. This is a positive change from Visa’s previous quarterly dividend of $0.52. This represents a $2.36 dividend on an annualized basis and a yield of 0.81%. The ex-dividend date is Tuesday, November 12th. Visa’s payout ratio is currently 21.38%.

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.