Traders Sell Visa Inc. (V) on Strength (V)
Investors sold shares of Visa Inc. (NYSE:V) on strength during trading on Tuesday. $90.47 million flowed into the stock on the tick-up and $127.18 million flowed out of the stock on the tick-down, for a money net flow of $36.71 million out of the stock. Of all companies tracked, Visa had the 22nd highest net out-flow for the day. Visa traded up $0.76 for the day and closed at $102.63
Several analysts have commented on the stock. CIBC lifted their price objective on shares of Visa from $95.00 to $100.00 and gave the company an “outperform” rating in a research note on Wednesday, April 26th. Zacks Investment Research upgraded shares of Visa from a “hold” rating to a “buy” rating and set a $106.00 price objective for the company in a research note on Monday, May 29th. Deutsche Bank AG lifted their price objective on shares of Visa from $124.00 to $150.00 and gave the company a “buy” rating in a research note on Monday, July 10th. Vetr cut shares of Visa from a “hold” rating to a “sell” rating and set a $92.84 price objective for the company. in a research note on Monday, June 5th. Finally, Cowen and Company restated an “outperform” rating and set a $105.00 price objective (up from $100.00) on shares of Visa in a research note on Sunday, April 23rd. 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 currently has an average rating of “Buy” and a consensus price target of $104.56.
The stock has a market capitalization of $234.66 billion, a PE ratio of 38.17 and a beta of 0.94. The stock’s 50 day moving average price is $98.13 and its 200 day moving average price is $92.48.
Visa (NYSE:V) last released its quarterly earnings results on Thursday, July 20th. The credit-card processor reported $0.86 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.81 by $0.05. The business had revenue of $4.57 billion during the quarter, compared to the consensus estimate of $4.36 billion. Visa had a return on equity of 30.95% and a net margin of 36.53%. The business’s revenue was up 25.8% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.69 EPS. On average, equities research analysts expect that Visa Inc. will post $3.43 EPS for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 5th. Investors of record on Friday, August 18th will be given a dividend of $0.165 per share. This represents a $0.66 dividend on an annualized basis and a yield of 0.64%. The ex-dividend date of this dividend is Wednesday, August 16th. Visa’s dividend payout ratio is presently 24.54%.
Visa announced that its board has approved a share repurchase program on Thursday, April 20th that authorizes the company to buyback $5.00 billion in shares. This buyback authorization authorizes the credit-card processor to buy up to 2.4% of its stock through open market purchases. Stock buyback programs are generally an indication that the company’s management believes its stock is undervalued.
In related news, EVP Tullier Kelly Mahon sold 29,772 shares of Visa stock in a transaction dated Thursday, July 27th. The stock was sold at an average price of $100.91, for a total transaction of $3,004,292.52. Following the completion of the sale, the executive vice president now owns 17,360 shares in the company, valued at approximately $1,751,797.60. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Company insiders own 0.14% of the company’s stock.
A number of hedge funds have recently bought and sold shares of the company. Vantage Financial Partners Ltd. Inc. bought a new stake in Visa during the second quarter worth approximately $958,000. Mercer Capital Advisers Inc. boosted its stake in Visa by 2.2% in the first quarter. Mercer Capital Advisers Inc. now owns 1,167 shares of the credit-card processor’s stock worth $104,000 after buying an additional 25 shares in the last quarter. Motco boosted its stake in Visa by 25.1% in the second quarter. Motco now owns 1,176 shares of the credit-card processor’s stock worth $110,000 after buying an additional 236 shares in the last quarter. BDO Wealth Advisors LLC bought a new stake in Visa during the second quarter worth approximately $115,000. Finally, Mascoma Wealth Management LLC bought a new stake in Visa during the second quarter worth approximately $122,000. Hedge funds and other institutional investors own 82.29% of the company’s stock.
Visa Company Profile
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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