Julie Rottenberg Sells 2,027 Shares of Visa (NYSE:V) Stock

Visa Inc. (NYSE:V) General Counsel Julie Rottenberg sold 2,027 shares of the stock in a transaction that occurred on Thursday, July 2nd. The shares were sold at an average price of $360.00, for a total value of $729,720.00. Following the transaction, the general counsel directly owned 18,404 shares of the company’s stock, valued at approximately $6,625,440. The trade was a 9.92% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Visa Price Performance

V traded down $4.91 during trading hours on Monday, hitting $357.22. The company’s stock had a trading volume of 11,482,851 shares, compared to its average volume of 8,088,925. Visa Inc. has a 12 month low of $293.89 and a 12 month high of $365.02. The stock has a market cap of $640.77 billion, a price-to-earnings ratio of 31.12, a P/E/G ratio of 1.93 and a beta of 0.75. The business’s 50-day moving average price is $327.17 and its 200-day moving average price is $324.74. The company has a current ratio of 1.09, a quick ratio of 1.09 and a debt-to-equity ratio of 0.64.

Visa (NYSE:V) last issued its quarterly earnings results on Tuesday, April 28th. The credit-card processor reported $3.31 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $3.10 by $0.21. Visa had a return on equity of 65.00% and a net margin of 51.68%.The company had revenue of $11.23 billion during the quarter, compared to the consensus estimate of $10.75 billion. During the same period last year, the company earned $2.76 earnings per share. Visa’s revenue was up 17.1% on a year-over-year basis. Sell-side analysts expect that Visa Inc. will post 13.1 earnings per share for the current fiscal year.

Visa Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, June 1st. Stockholders of record on Tuesday, May 12th were given a dividend of $0.67 per share. The ex-dividend date of this dividend was Tuesday, May 12th. This represents a $2.68 dividend on an annualized basis and a dividend yield of 0.8%. Visa’s dividend payout ratio (DPR) is 23.34%.

Visa declared that its board has approved a stock repurchase program on Tuesday, April 28th that permits the company to buyback $20.00 billion in outstanding shares. This buyback authorization permits the credit-card processor to purchase up to 3.6% of its stock through open market purchases. Stock buyback programs are generally a sign that the company’s leadership believes its stock is undervalued.

Analyst Upgrades and Downgrades

Several research firms have commented on V. Cantor Fitzgerald reissued an “overweight” rating and set a $400.00 price target on shares of Visa in a research report on Wednesday, April 29th. Loop Capital started coverage on shares of Visa in a report on Tuesday, March 31st. They issued a “buy” rating and a $387.00 price target on the stock. Truist Financial set a $371.00 price target on Visa and gave the stock a “buy” rating in a report on Tuesday, May 12th. Citigroup decreased their price target on shares of Visa from $450.00 to $400.00 and set a “buy” rating for the company in a report on Tuesday, April 14th. Finally, Sanford C. Bernstein reissued an “outperform” rating and issued a $450.00 price objective on shares of Visa in a report on Tuesday, June 2nd. Six research analysts have rated the stock with a Strong Buy rating, eighteen have given a Buy rating and two have given a Hold rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Buy” and an average target price of $397.39.

Institutional Investors Weigh In On Visa

Hedge funds have recently modified their holdings of the company. Hobart Private Capital LLC raised its position in shares of Visa by 5.6% during the 2nd quarter. Hobart Private Capital LLC now owns 3,353 shares of the credit-card processor’s stock worth $1,150,000 after purchasing an additional 179 shares during the last quarter. Stonebridge Financial Group LLC raised its stake in Visa by 2.7% in the 2nd quarter. Stonebridge Financial Group LLC now owns 2,339 shares of the credit-card processor’s stock valued at $803,000 after purchasing an additional 61 shares during the last quarter. Private Client Services LLC raised its position in shares of Visa by 4.4% in the second quarter. Private Client Services LLC now owns 2,291 shares of the credit-card processor’s stock valued at $786,000 after buying an additional 96 shares during the last quarter. RDA Financial Network boosted its position in Visa by 11.6% during the second quarter. RDA Financial Network now owns 27,605 shares of the credit-card processor’s stock worth $9,471,000 after acquiring an additional 2,875 shares during the last quarter. Finally, Boltwood Capital Management raised its holdings in Visa by 5.2% in the 2nd quarter. Boltwood Capital Management now owns 705 shares of the credit-card processor’s stock valued at $242,000 after acquiring an additional 35 shares during the last quarter. 82.15% of the stock is owned by hedge funds and other institutional investors.

Key Headlines Impacting Visa

Here are the key news stories impacting Visa this week:

• Positive Sentiment: Visa is being highlighted as poised to beat upcoming earnings estimates again, supported by its strong history of earnings surprises and favorable setup for another quarterly outperformance. Why Visa (V) is Poised to Beat Earnings Estimates Again
• Positive Sentiment: Visa is also being described as a strong long-term holding, reinforcing the view that investors see durable business quality and attractive portfolio fit. Why Visa (V) is a Top Stock for the Long-Term
• Positive Sentiment: Visa’s stablecoin analytics showed record June transaction volume of $1.79 trillion, suggesting continued growth in digital payments activity and potential upside from crypto-linked payment rails. Stablecoin transaction volume hits record $1.79T in June
• Positive Sentiment: Visa was included in a note discussing Bank of America’s top U.S. Q3 stock picks, which can support investor confidence in the name. 4 of Bank of America’s Top US Q3 Picks Pay Dividends With Double-Digit Upside Potential
• Neutral Sentiment: One commentary argued Visa is fundamentally strong but preferred waiting for a better entry point, which is more of a valuation caution than a business concern. Visa Is Fundamentally Robust, But I’ll Wait For Better Entry Points
• Neutral Sentiment: Analyst-focused pieces and broader market commentary were generally supportive, but they do not appear to introduce a major new catalyst on their own. Is It Worth Investing in Visa (V) Based on Wall Street’s Bullish Views?

About Visa

Visa Inc is a global payments technology company that facilitates electronic funds transfers and digital commerce by connecting consumers, merchants, financial institutions and governments. The firm operates one of the world’s largest payment networks, providing processing, authorization, clearing and settlement services for credit, debit and prepaid card transactions. Visa’s network-based model enables partner banks and other issuers to offer branded payment products while Visa focuses on the infrastructure, standards and technologies that move money securely and efficiently around the world.

Visa’s product and service portfolio includes card-based payment products for consumers and businesses, real-time push-payment capabilities, tokenization and authentication services, fraud and risk-management tools, data analytics and APIs for fintech and merchant integration.