Visa (NYSE:V) Trading Down 0.1% – Here’s What Happened

Shares of Visa Inc. (NYSE:V) were down 0.1% on Wednesday . The stock traded as low as $322.85 and last traded at $323.17. Approximately 1,196,116 shares traded hands during trading, a decline of 78% from the average daily volume of 5,387,276 shares. The stock had previously closed at $323.63.

Wall Street Analyst Weigh In

Several research analysts recently weighed in on V shares. Morgan Stanley lifted their price target on Visa from $326.00 to $371.00 and gave the company an “overweight” rating in a research report on Wednesday, December 18th. Barclays boosted their price objective on Visa from $319.00 to $347.00 and gave the company an “overweight” rating in a research report on Monday, November 4th. BMO Capital Markets boosted their price objective on Visa from $310.00 to $320.00 and gave the company an “outperform” rating in a research report on Wednesday, October 30th. Macquarie boosted their price target on Visa from $300.00 to $335.00 and gave the stock an “outperform” rating in a research report on Wednesday, October 30th. Finally, Robert W. Baird boosted their price target on Visa from $330.00 to $340.00 and gave the stock an “outperform” rating in a research report on Wednesday, October 30th. Four analysts have rated the stock with a hold rating, twenty-four have assigned a buy rating and two have assigned a strong buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $334.58.

Visa Trading Up 0.6 %

The firm has a market cap of $615.11 billion, a PE ratio of 33.94, a P/E/G ratio of 2.17 and a beta of 0.96. The company has a current ratio of 1.28, a quick ratio of 1.28 and a debt-to-equity ratio of 0.55. The business has a fifty day moving average price of $314.54 and a 200 day moving average price of $289.98.

Visa (NYSE:V) last announced its earnings results on Tuesday, October 29th. The credit-card processor reported $2.71 earnings per share (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 firm had revenue of $9.62 billion during the quarter, compared to analysts’ expectations of $9.49 billion. During the same period in the prior year, the firm earned $2.33 EPS. The business’s revenue was up 11.7% on a year-over-year basis. Analysts forecast that Visa Inc. will post 11.19 EPS for the current year.

Visa Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, December 2nd. Stockholders of record on Tuesday, November 12th were issued a $0.59 dividend. This is a boost from Visa’s previous quarterly dividend of $0.52. This represents a $2.36 annualized dividend and a dividend yield of 0.71%. The ex-dividend date of this dividend was Tuesday, November 12th. Visa’s dividend payout ratio (DPR) is currently 24.25%.

Insider Activity at Visa

In other Visa news, insider Paul D. Fabara sold 2,171 shares of the firm’s stock in a transaction on Friday, November 22nd. The stock was sold at an average price of $307.97, for a total transaction of $668,602.87. Following the completion of the transaction, the insider now owns 17,894 shares of the company’s stock, valued at approximately $5,510,815.18. This trade represents a 10.82 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, CEO Ryan Mcinerney sold 8,620 shares of Visa stock in a transaction on Thursday, January 2nd. The shares were sold at an average price of $317.78, for a total value of $2,739,263.60. The disclosure for this sale can be found here. 0.13% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Ameriprise Financial Inc. lifted its stake in shares of Visa by 2.4% during the second quarter. Ameriprise Financial Inc. now owns 14,610,590 shares of the credit-card processor’s stock worth $3,833,981,000 after purchasing an additional 345,829 shares in the last quarter. Employees Retirement System of Texas increased its holdings in Visa by 128.7% in the second quarter. Employees Retirement System of Texas now owns 44,673 shares of the credit-card processor’s stock valued at $11,725,000 after buying an additional 25,140 shares during the last quarter. Dundas Partners LLP increased its holdings in Visa by 3.4% in the second quarter. Dundas Partners LLP now owns 147,604 shares of the credit-card processor’s stock valued at $38,741,000 after buying an additional 4,899 shares during the last quarter. Drucker Wealth 3.0 LLC bought a new stake in Visa in the second quarter valued at about $2,525,000. Finally, Delta Investment Management LLC increased its holdings in Visa by 8.9% in the second quarter. Delta Investment Management LLC now owns 7,908 shares of the credit-card processor’s stock valued at $2,076,000 after buying an additional 648 shares during the last quarter. Institutional investors and hedge funds own 82.15% of the company’s stock.

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.