Visa (NYSE:V) Stock Price Down 1%

Visa Inc. (NYSE:V) was down 1% during trading on Wednesday . The company traded as low as $288.74 and last traded at $288.75. Approximately 681,940 shares traded hands during mid-day trading, a decline of 90% from the average daily volume of 7,042,347 shares. The stock had previously closed at $291.56.

Analyst Upgrades and Downgrades

Several equities analysts have issued reports on the stock. Citigroup decreased their price objective on shares of Visa from $321.00 to $319.00 and set a “buy” rating for the company in a research note on Wednesday, July 24th. Jefferies Financial Group lowered their price target on Visa from $325.00 to $300.00 and set a “buy” rating on the stock in a report on Wednesday, July 24th. Macquarie reaffirmed an “outperform” rating and set a $300.00 price objective on shares of Visa in a research note on Wednesday, July 24th. Royal Bank of Canada lowered their target price on Visa from $315.00 to $311.00 and set an “outperform” rating on the stock in a research note on Wednesday, July 24th. Finally, Piper Sandler cut their price target on Visa from $322.00 to $319.00 and set an “overweight” rating for the company in a research note on Wednesday, July 24th. Six research analysts have rated the stock with a hold rating, twenty-four have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $310.22.

Visa Trading Down 1.1 %

The company has a debt-to-equity ratio of 0.54, a quick ratio of 1.37 and a current ratio of 1.37. The firm has a market capitalization of $519.81 billion, a price-to-earnings ratio of 31.87, a P/E/G ratio of 2.05 and a beta of 0.96. The business has a fifty day moving average price of $270.27 and a 200 day moving average price of $273.46.

Visa (NYSE:V) last released its quarterly earnings data on Tuesday, July 23rd. The credit-card processor reported $2.42 EPS for the quarter, hitting analysts’ consensus estimates of $2.42. The company had revenue of $8.90 billion for the quarter, compared to the consensus estimate of $8.92 billion. Visa had a return on equity of 51.94% and a net margin of 54.72%. The company’s quarterly revenue was up 9.6% compared to the same quarter last year. During the same period last year, the business posted $2.16 EPS. As a group, equities analysts forecast that Visa Inc. will post 9.92 earnings per share for the current year.

Visa Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, September 3rd. Investors of record on Friday, August 9th were issued a dividend of $0.52 per share. The ex-dividend date of this dividend was Friday, August 9th. This represents a $2.08 annualized dividend and a dividend yield of 0.73%. Visa’s payout ratio is 23.24%.

Insider Activity at Visa

In other Visa 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 owns 538 shares in the company, valued at approximately $148,687.06. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 0.19% of the stock is owned by insiders.

Hedge Funds Weigh In On Visa

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Livelsberger Financial Advisory bought a new stake in shares of Visa in the 4th quarter valued at approximately $25,000. Westend Capital Management LLC bought a new stake in Visa during the first quarter valued at $25,000. POM Investment Strategies LLC increased its stake in Visa by 970.0% during the second quarter. POM Investment Strategies LLC now owns 107 shares of the credit-card processor’s stock valued at $28,000 after purchasing an additional 97 shares during the last quarter. Frank Rimerman Advisors LLC bought a new position in shares of Visa in the 4th quarter worth about $33,000. Finally, TruNorth Capital Management LLC boosted its holdings in shares of Visa by 211.9% in the 2nd quarter. TruNorth Capital Management LLC now owns 131 shares of the credit-card processor’s stock valued at $34,000 after buying an additional 89 shares during the period. 82.15% of the stock is owned by hedge funds and other institutional investors.

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.