Visa (NYSE:V) Shares Gap Down to $288.63

Shares of Visa Inc. (NYSE:V) gapped down before the market opened on Tuesday . The stock had previously closed at $288.63, but opened at $280.18. Visa shares last traded at $277.79, with a volume of 1,266,266 shares.

Wall Street Analyst Weigh In

Several equities research analysts recently commented on the stock. Monness Crespi & Hardt reaffirmed a “neutral” rating on shares of Visa in a research report on Tuesday. Jefferies Financial Group reduced their target price on shares of Visa from $325.00 to $300.00 and set a “buy” rating for the company in a report on Wednesday, July 24th. TD Cowen decreased their price objective on Visa from $320.00 to $318.00 and set a “buy” rating for the company in a report on Wednesday, July 24th. Piper Sandler lowered their target price on Visa from $322.00 to $319.00 and set an “overweight” rating on the stock in a research report on Wednesday, July 24th. Finally, Compass Point began coverage on Visa in a research note on Wednesday, September 4th. They issued a “buy” rating and a $319.00 price target for the company. Six equities research analysts have rated the stock with a hold rating, twenty-four have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, Visa currently has an average rating of “Moderate Buy” and a consensus target price of $310.22.

Visa Trading Down 1.1 %

The firm has a market cap of $491.73 billion, a P/E ratio of 30.15, a price-to-earnings-growth ratio of 2.04 and a beta of 0.96. The business’s fifty day moving average is $271.12 and its 200-day moving average is $273.42. The company has a debt-to-equity ratio of 0.54, a quick ratio of 1.37 and a current ratio of 1.37.

Visa (NYSE:V) last announced its earnings results on Tuesday, July 23rd. The credit-card processor reported $2.42 EPS for the quarter, meeting the consensus estimate of $2.42. Visa had a return on equity of 51.94% and a net margin of 54.72%. The company had revenue of $8.90 billion for the quarter, compared to analyst estimates of $8.92 billion. During the same quarter in the prior year, the company earned $2.16 EPS. The firm’s revenue for the quarter was up 9.6% compared to the same quarter last year. Analysts predict that Visa Inc. will post 9.92 EPS for the current year.

Visa Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, September 3rd. Investors of record on Friday, August 9th were given a $0.52 dividend. This represents a $2.08 dividend on an annualized basis and a yield of 0.77%. The ex-dividend date of this dividend was Friday, August 9th. Visa’s payout ratio is currently 23.24%.

Insider Transactions at Visa

In other news, CEO Ryan Mcinerney sold 8,620 shares of the stock in a transaction on Tuesday, September 3rd. The stock was sold at an average price of $276.37, for a total transaction 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 filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Company insiders own 0.19% of the company’s stock.

Institutional Inflows and Outflows

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