Investors Sell Visa Inc. (V) on Strength (V)
Traders sold shares of Visa Inc. (NYSE:V) on strength during trading hours on Friday. $76.41 million flowed into the stock on the tick-up and $297.15 million flowed out of the stock on the tick-down, for a money net flow of $220.74 million out of the stock. Of all equities tracked, Visa had the 2nd highest net out-flow for the day. Visa traded up $0.53 for the day and closed at $107.55
V has been the topic of several research analyst reports. Wells Fargo & Co upgraded Visa from a “market perform” rating to an “outperform” rating and boosted their price objective for the company from $107.01 to $120.00 in a research report on Tuesday, October 10th. UBS AG restated an “overweight” rating on shares of Visa in a research report on Thursday, August 24th. Deutsche Bank AG boosted their price objective on Visa from $124.00 to $150.00 and gave the company a “buy” rating in a research report on Monday, July 10th. Barclays PLC boosted their price objective on Visa from $114.00 to $123.00 and gave the company an “overweight” rating in a research report on Wednesday. Finally, Nomura boosted their price objective on Visa from $105.00 to $120.00 and gave the company a “buy” rating in a research report on Friday, July 21st. Two analysts have rated the stock with a hold rating, thirty-one have assigned a buy rating and one has issued a strong buy rating to the stock. The stock presently has an average rating of “Buy” and an average target price of $111.86.
The stock’s 50 day moving average price is $105.76 and its 200 day moving average price is $98.25. The stock has a market capitalization of $245.91 billion, a PE ratio of 40.00 and a beta of 0.93.
Visa (NYSE:V) last posted its earnings results on Thursday, July 20th. The credit-card processor reported $0.86 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.81 by $0.05. Visa had a net margin of 36.53% and a return on equity of 30.95%. The firm had revenue of $4.57 billion during the quarter, compared to the consensus estimate of $4.36 billion. During the same quarter last year, the firm earned $0.69 EPS. The firm’s revenue for the quarter was up 25.8% on a year-over-year basis. Equities research analysts expect that Visa Inc. will post $3.43 EPS for the current fiscal year.
The business also recently announced a quarterly dividend, which will be paid on Tuesday, December 5th. Investors of record on Friday, November 17th will be issued a $0.195 dividend. This represents a $0.78 annualized dividend and a yield of 0.73%. The ex-dividend date is Thursday, November 16th. This is an increase from Visa’s previous quarterly dividend of $0.17. Visa’s dividend payout ratio (DPR) is 24.54%.
In other Visa news, Director Mary B. Cranston sold 10,400 shares of the firm’s stock in a transaction that occurred on Thursday, August 17th. The shares were sold at an average price of $103.32, for a total value of $1,074,528.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Tullier Kelly Mahon sold 29,772 shares of the firm’s stock in a transaction that occurred on Thursday, July 27th. The shares were sold at an average price of $100.91, for a total transaction of $3,004,292.52. Following the completion of the transaction, the executive vice president now directly owns 17,360 shares of the company’s stock, valued at approximately $1,751,797.60. The disclosure for this sale can be found here. 0.14% of the stock is currently owned by company insiders.
A number of hedge funds have recently modified their holdings of the business. Vanguard Group Inc. boosted its position in Visa by 2.1% in the 2nd quarter. Vanguard Group Inc. now owns 127,020,401 shares of the credit-card processor’s stock valued at $11,911,973,000 after buying an additional 2,628,148 shares during the period. BlackRock Inc. boosted its position in Visa by 1.3% in the 2nd quarter. BlackRock Inc. now owns 114,649,667 shares of the credit-card processor’s stock valued at $10,751,846,000 after buying an additional 1,440,034 shares during the period. State Street Corp boosted its position in Visa by 0.9% in the 1st quarter. State Street Corp now owns 83,471,859 shares of the credit-card processor’s stock valued at $7,418,151,000 after buying an additional 722,878 shares during the period. Bank of New York Mellon Corp boosted its position in Visa by 0.4% in the 1st quarter. Bank of New York Mellon Corp now owns 18,286,230 shares of the credit-card processor’s stock valued at $1,625,097,000 after buying an additional 73,926 shares during the period. Finally, Fisher Asset Management LLC boosted its position in Visa by 2.3% in the 3rd quarter. Fisher Asset Management LLC now owns 15,971,471 shares of the credit-card processor’s stock valued at $1,680,838,000 after buying an additional 355,320 shares during the period. 81.65% of the stock is owned by institutional investors.
Visa Inc (Visa) is a payments technology company that connects consumers, merchants, financial institutions, businesses, strategic partners and government entities to electronic payments. The Company operates through payment services segment. The Company enables global commerce through the transfer of value and information among the participants.
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