Visa (NYSE:V) Trading Up 1.3% – Here’s Why

Visa Inc. (NYSE:V) was up 1.3% during trading on Monday . The company traded as high as $377.17 and last traded at $375.1780. 6,174,865 shares changed hands during mid-day trading, a decline of 20% from the average session volume of 7,695,124 shares. The stock had previously closed at $370.45.

Analysts Set New Price Targets

V has been the subject of a number of recent analyst reports. TD Cowen reiterated a “buy” rating on shares of Visa in a research report on Wednesday, July 29th. Erste Group Bank upgraded Visa from a “hold” rating to a “buy” rating in a report on Monday, July 27th. Sanford C. Bernstein reiterated an “outperform” rating and set a $450.00 target price on shares of Visa in a report on Tuesday, June 2nd. Weiss Ratings upgraded Visa from a “buy (b-)” rating to a “buy (b)” rating in a research note on Thursday, July 30th. Finally, Citigroup restated a “buy” rating and set a $440.00 target price (up from $400.00) on shares of Visa in a research note on Wednesday, July 29th. Seven analysts have rated the stock with a Strong Buy rating and twenty-four have given a Buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Buy” and an average price target of $416.62.

Visa Stock Up 1.3%

The company has a quick ratio of 0.99, a current ratio of 0.99 and a debt-to-equity ratio of 0.60. The stock has a market cap of $669.48 billion, a PE ratio of 31.90, a price-to-earnings-growth ratio of 1.98 and a beta of 0.76. The firm has a fifty day moving average of $365.44 and a 200 day moving average of $335.26.

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

Visa Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Tuesday, September 1st. Investors of record on Tuesday, August 11th were issued a $0.67 dividend. This represents a $2.68 dividend on an annualized basis and a yield of 0.7%. The ex-dividend date of this dividend was Tuesday, August 11th. Visa’s dividend payout ratio is 22.79%.

Insider Buying and Selling at Visa

In other Visa news, insider Tullier Mahon sold 57,272 shares of the firm’s stock in a transaction that occurred 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 owned 49,662 shares of the company’s stock, valued at approximately $18,125,140.14. This trade represents a 53.56% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Ryan Mcinerney sold 20,970 shares of the business’s stock in a transaction that occurred on Monday, June 29th. The stock was sold at an average price of $340.25, for a total transaction of $7,135,042.50. Following the sale, the chief executive officer owned 15,174 shares of the company’s stock, valued at $5,162,953.50. This represents a 58.02% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold 106,404 shares of company stock worth $38,228,528 over the last three months. Insiders own 0.12% of the company’s stock.

Institutional Investors Weigh In On Visa

Several hedge funds have recently modified their holdings of V. Concorde Asset Management LLC lifted its position in shares of Visa by 4.0% during the 2nd quarter. Concorde Asset Management LLC now owns 728 shares of the credit-card processor’s stock valued at $250,000 after acquiring an additional 28 shares during the last quarter. G&S Capital LLC grew its holdings in shares of Visa by 4.0% in the 2nd quarter. G&S Capital LLC now owns 761 shares of the credit-card processor’s stock worth $261,000 after acquiring an additional 29 shares during the last quarter. Keating Financial Advisory Services Inc. raised its position in shares of Visa by 0.9% during the second quarter. Keating Financial Advisory Services Inc. now owns 3,189 shares of the credit-card processor’s stock worth $1,094,000 after purchasing an additional 29 shares during the period. Riverview Capital Advisers LLC raised its position in shares of Visa by 0.3% during the second quarter. Riverview Capital Advisers LLC now owns 10,805 shares of the credit-card processor’s stock worth $3,707,000 after purchasing an additional 29 shares during the period. Finally, NerdWallet Wealth Partners LLC lifted its holdings in shares of Visa by 4.5% during the second quarter. NerdWallet Wealth Partners LLC now owns 695 shares of the credit-card processor’s stock valued at $239,000 after purchasing an additional 30 shares during the last quarter. 82.15% of the stock is 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.