Visa (NYSE:V) Stock Price Down 1.5%

Visa Inc. (NYSE:V)’s share price was down 1.5% during mid-day trading on Wednesday . The stock traded as low as $258.53 and last traded at $261.51. Approximately 2,770,849 shares traded hands during trading, a decline of 59% from the average daily volume of 6,807,605 shares. The stock had previously closed at $265.44.

Analyst Ratings Changes

Several equities research analysts have recently issued reports on V shares. UBS Group lifted their price target on Visa from $315.00 to $325.00 and gave the company a “buy” rating in a report on Wednesday, April 24th. Bank of America restated a “neutral” rating and issued a $297.00 target price (down from $305.00) on shares of Visa in a report on Wednesday. Oppenheimer boosted their target price on Visa from $297.00 to $299.00 and gave the stock an “outperform” rating in a report on Wednesday, April 24th. Mizuho boosted their target price on Visa from $265.00 to $275.00 and gave the stock a “neutral” rating in a report on Thursday, May 2nd. Finally, Piper Sandler assumed coverage on Visa in a report on Monday, May 13th. They issued an “overweight” rating and a $322.00 target price for the company. Six investment analysts have rated the stock with a hold rating and twenty-one have given a buy rating to the company’s stock. According to data from MarketBeat.com, Visa currently has a consensus rating of “Moderate Buy” and an average price target of $304.44.

Visa Trading Down 0.2 %

The company has a 50 day moving average of $272.88 and a 200 day moving average of $273.85. The company has a current ratio of 1.40, a quick ratio of 1.40 and a debt-to-equity ratio of 0.53. The firm has a market cap of $480.19 billion, a price-to-earnings ratio of 29.34, a price-to-earnings-growth ratio of 1.80 and a beta of 0.95.

Visa (NYSE:V) last announced its quarterly earnings results on Tuesday, April 23rd. The credit-card processor reported $2.51 EPS for the quarter, beating the consensus estimate of $2.43 by $0.08. The business had revenue of $8.78 billion for the quarter, compared to analyst estimates of $8.62 billion. Visa had a return on equity of 51.23% and a net margin of 53.87%. Visa’s quarterly revenue was up 9.9% on a year-over-year basis. During the same quarter in the previous year, the firm earned $2.09 EPS. As a group, research analysts anticipate that Visa Inc. will post 9.94 EPS for the current year.

Visa Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, June 3rd. Shareholders of record on Friday, May 17th were paid a $0.52 dividend. This represents a $2.08 dividend on an annualized basis and a yield of 0.79%. The ex-dividend date of this dividend was Thursday, May 16th. Visa’s dividend payout ratio is currently 23.24%.

Insiders Place Their Bets

In other Visa news, insider Paul D. Fabara sold 25,293 shares of the business’s stock in a transaction on Wednesday, May 15th. The stock was sold at an average price of $277.15, for a total value of $7,009,954.95. Following the transaction, the insider now owns 17,894 shares of the company’s stock, valued at $4,959,322.10. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. In other news, Director Lloyd Carney sold 909 shares of the company’s stock in a transaction on Friday, April 26th. The stock was sold at an average price of $275.55, for a total transaction of $250,474.95. Following the transaction, the director now owns 2,591 shares of the company’s stock, valued at $713,950.05. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Paul D. Fabara sold 25,293 shares of the company’s stock in a transaction on Wednesday, May 15th. The shares were sold at an average price of $277.15, for a total value of $7,009,954.95. Following the transaction, the insider now directly owns 17,894 shares in the company, valued at approximately $4,959,322.10. The disclosure for this sale can be found here. Insiders own 0.19% of the company’s stock.

Hedge Funds Weigh In On Visa

Large investors have recently made changes to their positions in the company. Raleigh Capital Management Inc. increased its holdings in Visa by 3.2% in the third quarter. Raleigh Capital Management Inc. now owns 1,528 shares of the credit-card processor’s stock valued at $351,000 after purchasing an additional 47 shares during the last quarter. Chemung Canal Trust Co. increased its holdings in shares of Visa by 0.8% in the fourth quarter. Chemung Canal Trust Co. now owns 23,918 shares of the credit-card processor’s stock worth $6,227,000 after acquiring an additional 198 shares in the last quarter. DNB Asset Management AS increased its holdings in shares of Visa by 5.2% in the fourth quarter. DNB Asset Management AS now owns 1,978,616 shares of the credit-card processor’s stock worth $515,133,000 after acquiring an additional 97,910 shares in the last quarter. Trust Co. of Toledo NA OH increased its holdings in shares of Visa by 14.0% in the fourth quarter. Trust Co. of Toledo NA OH now owns 14,642 shares of the credit-card processor’s stock worth $3,812,000 after acquiring an additional 1,799 shares in the last quarter. Finally, FCF Advisors LLC increased its holdings in shares of Visa by 104.0% in the fourth quarter. FCF Advisors LLC now owns 30,502 shares of the credit-card processor’s stock worth $7,941,000 after acquiring an additional 15,548 shares in the last quarter. Institutional investors and hedge funds own 82.15% 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.