Bourgeon Capital Management LLC Sells 1,253 Shares of Visa Inc. $V

Key Points

• Bourgeon Capital Management LLC reduced its stake in Visa Inc. by 36.4%, selling 1,253 shares and now holding 2,186 shares valued at $776,000.
• Visa's earnings per share for the last quarter were reported at $2.98, exceeding analysts' expectations, with revenues at $10.17 billion, reflecting a 14.3% increase from the previous year.
• Several analysts have upgraded their price targets for Visa, with Barclays setting a new target at $408.00, and a consensus rating of "Moderate Buy" remains among market analysts.

Bourgeon Capital Management LLC trimmed its stake in Visa Inc. (NYSE:V - Free Report) by 36.4% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 2,186 shares of the credit-card processor's stock after selling 1,253 shares during the period. Bourgeon Capital Management LLC's holdings in Visa were worth $776,000 as of its most recent SEC filing.

A number of other large investors have also recently bought and sold shares of the stock. Keystone Global Partners LLC acquired a new position in Visa during the 1st quarter worth about $26,000. von Borstel & Associates Inc. bought a new position in shares of Visa in the first quarter worth about $27,000. Family Legacy Financial Solutions LLC acquired a new position in shares of Visa during the second quarter worth approximately $28,000. Cranbrook Wealth Management LLC grew its stake in shares of Visa by 82.0% during the second quarter. Cranbrook Wealth Management LLC now owns 91 shares of the credit-card processor's stock valued at $32,000 after purchasing an additional 41 shares during the last quarter. Finally, 1 North Wealth Services LLC bought a new stake in shares of Visa during the first quarter valued at approximately $38,000. 82.15% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several research analysts have issued reports on V shares. Barclays reaffirmed an "overweight" rating and set a $408.00 price objective (up previously from $396.00) on shares of Visa in a report on Thursday, July 31st. Oppenheimer lifted their target price on Visa from $390.00 to $391.00 and gave the company an "outperform" rating in a research note on Wednesday, July 2nd. Erste Group Bank lowered Visa from a "buy" rating to a "hold" rating in a research report on Monday, September 22nd. UBS Group reissued a "buy" rating and set a $415.00 price objective (up from $405.00) on shares of Visa in a report on Wednesday, July 30th. Finally, Morgan Stanley boosted their price objective on Visa from $386.00 to $402.00 and gave the stock an "overweight" rating in a report on Wednesday, July 30th. One equities research analyst has rated the stock with a Strong Buy rating, twenty have issued a Buy rating and five have issued a Hold rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average target price of $385.96.

Insider Activity

In other news, General Counsel Julie B. Rottenberg sold 2,027 shares of Visa stock in a transaction dated Monday, August 18th. The stock was sold at an average price of $344.02, for a total transaction of $697,328.54. Following the transaction, the general counsel owned 11,925 shares in the company, valued at $4,102,438.50. The trade was a 14.53% 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 Visa stock in a transaction dated Wednesday, October 1st. The shares were sold at an average price of $342.30, for a total value of $3,589,015.50. Following the transaction, the chief executive officer owned 537 shares in the company, valued at $183,815.10. This trade represents a 95.13% decrease in their position. The disclosure for this sale can be found here. Insiders own 0.13% of the company's stock.

Visa Price Performance

Shares of V opened at $345.97 on Friday. The company has a current ratio of 1.12, a quick ratio of 1.12 and a debt-to-equity ratio of 0.52. Visa Inc. has a 1 year low of $273.24 and a 1 year high of $375.51. The stock has a market cap of $634.09 billion, a P/E ratio of 33.79, a price-to-earnings-growth ratio of 2.06 and a beta of 0.90. The stock's 50-day moving average price is $343.92 and its two-hundred day moving average price is $346.60.

Visa (NYSE:V - Get Free Report) last issued its earnings results on Tuesday, July 29th. The credit-card processor reported $2.98 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $2.85 by $0.13. Visa had a return on equity of 58.93% and a net margin of 52.16%.The firm had revenue of $10.17 billion for the quarter, compared to analysts' expectations of $9.82 billion. During the same quarter last year, the business earned $2.42 earnings per share. The company's revenue was up 14.3% compared to the same quarter last year. On average, equities analysts predict that Visa Inc. will post 11.3 earnings per share for the current year.

Visa Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, September 2nd. Stockholders of record on Tuesday, August 12th were issued a dividend of $0.59 per share. This represents a $2.36 annualized dividend and a dividend yield of 0.7%. The ex-dividend date was Tuesday, August 12th. Visa's payout ratio is 23.05%.

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.

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