Traders Sell Visa Inc. (V) on Strength (V)
Traders sold shares of Visa Inc. (NYSE:V) on strength during trading hours on Wednesday. $127.08 million flowed into the stock on the tick-up and $475.96 million flowed out of the stock on the tick-down, for a money net flow of $348.88 million out of the stock. Of all companies tracked, Visa had the highest net out-flow for the day. Visa traded up $0.86 for the day and closed at $103.32
Several research firms have issued reports on V. Vetr upgraded Visa from a “hold” rating to a “buy” rating and set a $95.32 price objective on the stock in a report on Thursday, April 27th. Wedbush restated an “outperform” rating and set a $100.00 price objective (up from $96.00) on shares of Visa in a report on Tuesday, June 6th. Loop Capital lifted their target price on Visa from $101.00 to $111.00 and gave the stock a “buy” rating in a research report on Friday, July 21st. They noted that the move was a valuation call. Royal Bank Of Canada lifted their target price on Visa from $97.00 to $98.00 and gave the stock an “outperform” rating in a research report on Friday, April 21st. Finally, Deutsche Bank AG lifted their target price on Visa from $124.00 to $150.00 and gave the stock a “buy” rating in a research report on Monday, July 10th. Four equities research analysts have rated the stock with a hold rating, twenty-six have issued a buy rating and two have given a strong buy rating to the stock. The company has a consensus rating of “Buy” and a consensus price target of $104.56.
The stock has a market capitalization of $236.23 billion, a PE ratio of 38.42 and a beta of 0.94. The company’s 50-day moving average is $98.38 and its 200-day moving average is $92.56.
Visa (NYSE:V) last issued its quarterly earnings data on Thursday, July 20th. The credit-card processor reported $0.86 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.81 by $0.05. Visa had a return on equity of 30.95% and a net margin of 36.53%. The company had revenue of $4.57 billion during the quarter, compared to analysts’ expectations of $4.36 billion. During the same quarter in the previous year, the company posted $0.69 earnings per share. The business’s revenue was up 25.8% on a year-over-year basis. Equities analysts expect that Visa Inc. will post $3.43 earnings per share for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Tuesday, September 5th. Stockholders of record on Friday, August 18th will be given a $0.165 dividend. The ex-dividend date of this dividend is Wednesday, August 16th. This represents a $0.66 dividend on an annualized basis and a dividend yield of 0.64%. Visa’s payout ratio is 24.54%.
Visa announced that its board has authorized a share repurchase plan on Thursday, April 20th that allows the company to repurchase $5.00 billion in shares. This repurchase authorization allows the credit-card processor to purchase up to 2.4% of its stock through open market purchases. Stock repurchase plans are usually an indication that the company’s management believes its shares are undervalued.
In other news, EVP Tullier Kelly Mahon sold 29,772 shares of Visa stock in a transaction that occurred on Thursday, July 27th. The shares were sold at an average price of $100.91, for a total value of $3,004,292.52. Following the completion of the sale, the executive vice president now directly owns 17,360 shares in the company, valued at $1,751,797.60. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. 0.14% of the stock is currently owned by insiders.
A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. Vantage Financial Partners Ltd. Inc. bought a new position in shares of Visa during the second quarter valued at about $958,000. Mercer Capital Advisers Inc. increased its position in shares of Visa by 2.2% in the first quarter. Mercer Capital Advisers Inc. now owns 1,167 shares of the credit-card processor’s stock valued at $104,000 after buying an additional 25 shares during the period. Motco increased its position in shares of Visa by 25.1% in the second quarter. Motco now owns 1,176 shares of the credit-card processor’s stock valued at $110,000 after buying an additional 236 shares during the period. BDO Wealth Advisors LLC bought a new position in shares of Visa during the second quarter valued at about $115,000. Finally, Mascoma Wealth Management LLC bought a new position in shares of Visa during the second quarter valued at about $122,000. Institutional investors and hedge funds own 82.29% of the company’s stock.
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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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