Visa (NYSE:V) Stock Price Down 1.4% on Insider Selling

Visa Inc. (NYSE:VGet Free Report)’s share price was down 1.4% on Tuesday following insider selling activity. The company traded as low as $346.92 and last traded at $352.2110. Approximately 7,304,510 shares traded hands during trading, a decline of 10% from the average session volume of 8,071,979 shares. The stock had previously closed at $357.25.

Specifically, General Counsel Julie B. Rottenberg sold 2,027 shares of the business’s stock in a transaction dated Thursday, July 2nd. The shares were sold at an average price of $360.00, for a total transaction of $729,720.00. Following the transaction, the general counsel directly owned 18,404 shares in the company, valued at $6,625,440. The trade was a 9.92% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Ryan Mcinerney sold 10,490 shares of Visa stock in a transaction dated Wednesday, July 1st. The stock was sold at an average price of $343.99, for a total value of $3,608,455.10. Following the transaction, the chief executive officer owned 15,174 shares of the company’s stock, valued at $5,219,704.26. The trade was a 40.87% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Analysts Set New Price Targets

A number of brokerages recently issued reports on V. Evercore set a $350.00 target price on Visa in a report on Wednesday, April 29th. Cantor Fitzgerald reissued an “overweight” rating and issued a $400.00 price target on shares of Visa in a report on Wednesday, April 29th. Piper Sandler started coverage on shares of Visa in a report on Monday, June 29th. They set an “overweight” rating and a $394.00 target price for the company. Oppenheimer reaffirmed an “outperform” rating and set a $403.00 price target (up from $391.00) on shares of Visa in a research report on Wednesday, April 29th. Finally, Sanford C. Bernstein reiterated an “outperform” rating and issued a $450.00 price objective on shares of Visa in a research report on Tuesday, June 2nd. Six analysts have rated the stock with a Strong Buy rating, eighteen have issued a Buy rating and two have assigned a Hold rating to the stock. According to data from MarketBeat, Visa currently has an average rating of “Buy” and a consensus target price of $397.39.

Check Out Our Latest Stock Report on Visa

Visa News Roundup

Here are the key news stories impacting Visa this week:

Visa Stock Down 1.4%

The company has a debt-to-equity ratio of 0.64, a quick ratio of 1.09 and a current ratio of 1.09. The stock’s 50-day moving average price is $327.17 and its two-hundred day moving average price is $324.74. The stock has a market capitalization of $631.79 billion, a PE ratio of 30.68, a P/E/G ratio of 1.93 and a beta of 0.75.

Visa (NYSE:VGet Free Report) last announced its quarterly earnings data on Tuesday, April 28th. The credit-card processor reported $3.31 earnings per share for the quarter, topping analysts’ consensus estimates of $3.10 by $0.21. Visa had a net margin of 51.68% and a return on equity of 65.00%. The business had revenue of $11.23 billion for the quarter, compared to analysts’ expectations of $10.75 billion. During the same quarter in the prior year, the company earned $2.76 earnings per share. The business’s revenue was up 17.1% compared to the same quarter last year. As a group, analysts expect that Visa Inc. will post 13.1 EPS for the current fiscal year.

Visa Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, June 1st. Investors of record on Tuesday, May 12th were paid a $0.67 dividend. The ex-dividend date was Tuesday, May 12th. This represents a $2.68 annualized dividend and a dividend yield of 0.8%. Visa’s dividend payout ratio is presently 23.34%.

Visa declared that its board has authorized a share buyback plan on Tuesday, April 28th that authorizes the company to buyback $20.00 billion in shares. This buyback authorization authorizes the credit-card processor to reacquire up to 3.6% of its shares through open market purchases. Shares buyback plans are generally an indication that the company’s leadership believes its shares are undervalued.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in V. Clayton Financial Group LLC boosted its stake in Visa by 446.2% in the 4th quarter. Clayton Financial Group LLC now owns 71 shares of the credit-card processor’s stock worth $25,000 after purchasing an additional 58 shares in the last quarter. PayPay Securities Corp raised its holdings in Visa by 102.7% in the fourth quarter. PayPay Securities Corp now owns 75 shares of the credit-card processor’s stock worth $26,000 after buying an additional 38 shares during the last quarter. Cresta Advisors Ltd. purchased a new position in Visa in the fourth quarter worth about $26,000. Parvin Asset Management LLC lifted its stake in shares of Visa by 200.0% in the third quarter. Parvin Asset Management LLC now owns 75 shares of the credit-card processor’s stock worth $26,000 after buying an additional 50 shares in the last quarter. Finally, Dorato Capital Management purchased a new stake in shares of Visa during the fourth quarter valued at approximately $30,000. Hedge funds and other institutional investors own 82.15% of the company’s stock.

Visa Company Profile

(Get Free Report)

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.

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