Visa (NYSE:V) Trading 0.4% Higher

Visa Inc. (NYSE:V)’s share price shot up 0.4% on Wednesday . The company traded as high as $274.00 and last traded at $273.45. 881,026 shares traded hands during trading, a decline of 86% from the average session volume of 6,239,028 shares. The stock had previously closed at $272.42.

Analysts Set New Price Targets

V has been the subject of a number of research analyst reports. Royal Bank of Canada upped their price objective on shares of Visa from $309.00 to $315.00 and gave the company an “outperform” rating in a research note on Wednesday, April 24th. Evercore ISI lifted their price target on shares of Visa from $325.00 to $335.00 and gave the company an “outperform” rating in a report on Tuesday, March 26th. Robert W. Baird increased their target price on Visa from $314.00 to $320.00 and gave the stock an “outperform” rating in a research report on Wednesday, April 17th. Wedbush boosted their price target on Visa from $280.00 to $300.00 and gave the company an “outperform” rating in a research report on Wednesday, April 24th. Finally, Piper Sandler assumed coverage on Visa in a research note on Monday, May 13th. They set an “overweight” rating and a $322.00 price target for the company. Five analysts have rated the stock with a hold rating and twenty-one have given a buy rating to the company’s stock. Based on data from MarketBeat.com, Visa currently has an average rating of “Moderate Buy” and a consensus price target of $303.76.

Visa Trading Up 0.7 %

The firm has a market cap of $501.71 billion, a P/E ratio of 30.62, a P/E/G ratio of 1.85 and a beta of 0.97. The company has a debt-to-equity ratio of 0.53, a quick ratio of 1.40 and a current ratio of 1.40. The firm has a fifty day moving average of $274.76 and a 200-day moving average of $271.31.

Visa (NYSE:V) last issued its quarterly earnings data on Tuesday, April 23rd. The credit-card processor reported $2.51 earnings per share for the quarter, beating the consensus estimate of $2.43 by $0.08. The firm had revenue of $8.78 billion for the quarter, compared to the consensus estimate of $8.62 billion. Visa had a net margin of 53.87% and a return on equity of 51.23%. Visa’s quarterly revenue was up 9.9% compared to the same quarter last year. During the same period last year, the firm posted $2.09 EPS. Equities research analysts forecast that Visa Inc. will post 9.94 earnings per share for the current year.

Visa Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, June 3rd. Shareholders of record on Friday, May 17th were paid a dividend of $0.52 per share. The ex-dividend date was Thursday, May 16th. This represents a $2.08 annualized dividend and a yield of 0.76%. Visa’s payout ratio is 23.24%.

Insider Buying and Selling

In related news, CEO Ryan Mcinerney sold 8,200 shares of the firm’s stock in a transaction dated Monday, April 1st. The stock was sold at an average price of $280.36, for a total transaction of $2,298,952.00. Following the completion of the transaction, the chief executive officer now owns 538 shares of the company’s stock, valued at $150,833.68. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In related news, CEO Ryan Mcinerney sold 8,200 shares of the firm’s stock in a transaction that occurred on Monday, April 1st. The shares were sold at an average price of $280.36, for a total transaction of $2,298,952.00. Following the completion of the sale, the chief executive officer now directly owns 538 shares in the company, valued at $150,833.68. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, Director Lloyd Carney sold 909 shares of the company’s stock in a transaction on Friday, April 26th. The shares were sold at an average price of $275.55, for a total value of $250,474.95. Following the completion of the transaction, the director now directly owns 2,591 shares in the company, valued at approximately $713,950.05. The disclosure for this sale can be found here. Insiders have sold a total of 34,402 shares of company stock valued at $9,559,382 over the last quarter. Corporate insiders own 0.19% of the company’s stock.

Institutional Investors Weigh In On Visa

Several hedge funds have recently made changes to their positions in the company. Westend Capital Management LLC acquired a new stake in shares of Visa during the first quarter worth approximately $25,000. Livelsberger Financial Advisory acquired a new position in shares of Visa in the fourth quarter worth $25,000. Altshuler Shaham Ltd purchased a new stake in shares of Visa during the third quarter worth $25,000. O Brien Wealth Partners LLC acquired a new stake in Visa during the fourth quarter valued at $32,000. Finally, Frank Rimerman Advisors LLC purchased a new position in Visa in the fourth quarter valued at about $33,000. Hedge funds and other institutional investors own 82.15% of the company’s stock.

About Visa

Visa Inc operates as a payment technology company in the United States and internationally. The company operates VisaNet, a transaction processing network that enables authorization, clearing, and settlement of payment transactions. It also offers credit, debit, and prepaid card products; tap to pay, tokenization, and click to pay services; Visa Direct, a solution that facilitates the delivery of funds to eligible cards, deposit accounts, and digital wallets; Visa B2B Connect, a multilateral business-to-business cross-border payments network; Visa Cross-Border Solution, a cross-border consumer payments solution; and Visa DPS that provides a range of value-added services, including fraud mitigation, dispute management, data analytics, campaign management, a suite of digital solutions, and contact center services.