Visa (NYSE:V) Shares Down 1.2% – Here’s What Happened

Shares of Visa Inc. (NYSE:V) fell 1.2% during mid-day trading on Wednesday . The stock traded as low as $368.12 and last traded at $371.0770. Approximately 7,197,567 shares traded hands during trading, a decline of 6% from the average daily volume of 7,678,195 shares. The stock had previously closed at $375.62.

Wall Street Analyst Weigh In

Several analysts have issued reports on V shares. Weiss Ratings raised Visa from a “buy (b-)” rating to a “buy (b)” rating in a research report on Thursday, July 30th. Wolfe Research reissued an “outperform” rating and set a $460.00 price target (up from $435.00) on shares of Visa in a research report on Tuesday, August 25th. Royal Bank Of Canada reiterated an “outperform” rating and set a $466.00 price objective (up from $412.00) on shares of Visa in a research note on Monday, August 31st. Morgan Stanley restated an “overweight” rating and issued a $416.00 target price on shares of Visa in a research note on Wednesday, July 29th. Finally, Piper Sandler reaffirmed an “overweight” rating and issued a $430.00 price target (up from $394.00) on shares of Visa in a report on Wednesday, July 29th. Seven investment analysts have rated the stock with a Strong Buy rating and twenty-four have assigned a Buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Buy” and an average price target of $416.62.

Visa Stock Performance

The company has a debt-to-equity ratio of 0.60, a current ratio of 0.99 and a quick ratio of 0.99. The firm has a market cap of $659.80 billion, a price-to-earnings ratio of 31.44, a P/E/G ratio of 1.99 and a beta of 0.76. The firm has a fifty day simple moving average of $367.19 and a two-hundred day simple moving average of $336.92.

Visa (NYSE:V) last issued its quarterly earnings results on Tuesday, July 28th. The credit-card processor reported $3.32 earnings per share for the quarter, topping analysts’ consensus estimates of $3.23 by $0.09. The business had revenue of $11.63 billion for the quarter, compared to analyst estimates of $11.40 billion. Visa had a return on equity of 67.68% and a net margin of 50.78%.The company’s revenue was up 14.4% on a year-over-year basis. During the same quarter in the previous year, the firm earned $2.98 earnings per share. On average, analysts expect that Visa Inc. will post 13.16 EPS for the current year.

Visa Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, September 1st. Shareholders of record on Tuesday, August 11th were given a dividend of $0.67 per share. This represents a $2.68 annualized dividend and a yield of 0.7%. The ex-dividend date of this dividend was Tuesday, August 11th. Visa’s payout ratio is currently 22.79%.

Insiders Place Their Bets

In other news, General Counsel Julie Rottenberg sold 2,028 shares of Visa stock in a transaction on Monday, August 31st. The shares were sold at an average price of $381.35, for a total transaction of $773,377.80. Following the completion of the sale, the general counsel directly owned 18,404 shares in the company, valued at approximately $7,018,365.40. The trade was a 9.93% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Tullier Mahon sold 57,272 shares of the business’s stock in a transaction on Thursday, July 30th. The shares were sold at an average price of $364.97, for a total transaction of $20,902,561.84. Following the sale, the insider directly owned 49,662 shares in the company, valued at $18,125,140.14. This trade represents a 53.56% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last quarter, insiders sold 106,404 shares of company stock valued at $38,228,528. Insiders own 0.12% of the company’s stock.

Institutional Trading of Visa

Institutional investors and hedge funds have recently bought and sold shares of the business. XXEC Inc. lifted its position in Visa by 153,118.8% during the second quarter. XXEC Inc. now owns 186,260,448 shares of the credit-card processor’s stock valued at $63,904,097,000 after purchasing an additional 186,138,883 shares during the period. Geode Capital Management LLC grew its position in Visa by 0.9% during the 4th quarter. Geode Capital Management LLC now owns 44,042,586 shares of the credit-card processor’s stock worth $15,411,395,000 after purchasing an additional 388,996 shares during the period. Capital International Investors raised its stake in shares of Visa by 1.1% during the 4th quarter. Capital International Investors now owns 21,516,371 shares of the credit-card processor’s stock valued at $7,547,169,000 after buying an additional 244,085 shares during the last quarter. Norges Bank purchased a new position in shares of Visa during the 4th quarter valued at about $5,877,738,000. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its holdings in shares of Visa by 13.0% in the 2nd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 15,720,068 shares of the credit-card processor’s stock valued at $5,393,398,000 after buying an additional 1,808,496 shares during the period. 82.15% of the stock is currently owned by institutional investors and hedge funds.

Visa Company Profile

Visa Inc is a global payments technology company that operates one of the world’s largest electronic payment networks. The company connects consumers, businesses, financial institutions and governments, enabling transactions through credit, debit, prepaid and commercial payment products. Visa generally does not issue cards, extend credit or set consumer interest rates; instead, it provides the network, technology and services that support payments.

Visa’s products and services include Visa-branded cards, digital payment solutions, tokenization, fraud prevention, risk management, data analytics and payment acceptance tools.