Insider Selling: Visa Inc. (NYSE:V) CEO Sells 8,630 Shares of Stock

Visa Inc. (NYSE:V - Get Free Report) CEO Ryan Mcinerney sold 8,630 shares of Visa stock in a transaction on Tuesday, July 1st. The shares were sold at an average price of $353.82, for a total value of $3,053,466.60. Following the completion of the transaction, the chief executive officer owned 537 shares in the company, valued at approximately $190,001.34. The trade was a 94.14% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website.

Ryan Mcinerney also recently made the following trade(s):

• On Monday, June 2nd, Ryan Mcinerney sold 8,620 shares of Visa stock. The shares were sold at an average price of $362.77, for a total value of $3,127,077.40.
• On Thursday, May 1st, Ryan Mcinerney sold 8,620 shares of Visa stock. The stock was sold at an average price of $345.58, for a total value of $2,978,899.60.

Visa Trading Up 1.3%

Visa stock traded up $4.48 during trading hours on Friday, reaching $358.70. The company had a trading volume of 3,702,810 shares, compared to its average volume of 6,855,011. The company has a 50-day moving average price of $355.79 and a 200 day moving average price of $341.24. Visa Inc. has a 12-month low of $252.70 and a 12-month high of $375.51. The firm has a market cap of $661.86 billion, a price-to-earnings ratio of 36.05, a P/E/G ratio of 2.43 and a beta of 0.92. The company has a debt-to-equity ratio of 0.45, a current ratio of 1.08 and a quick ratio of 1.08.

Visa (NYSE:V - Get Free Report) last issued its quarterly earnings results on Tuesday, April 29th. The credit-card processor reported $2.76 earnings per share for the quarter, topping the consensus estimate of $2.68 by $0.08. The company had revenue of $9.59 billion for the quarter, compared to analysts' expectations of $9.57 billion. Visa had a return on equity of 56.28% and a net margin of 52.86%. The firm's revenue for the quarter was up 9.3% on a year-over-year basis. During the same period in the prior year, the firm earned $2.51 earnings per share. Equities analysts forecast that Visa Inc. will post 11.3 earnings per share for the current year.

Visa Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, June 2nd. Investors of record on Tuesday, May 13th were issued a $0.59 dividend. This represents a $2.36 dividend on an annualized basis and a dividend yield of 0.66%. The ex-dividend date of this dividend was Tuesday, May 13th. Visa's payout ratio is 23.72%.

Institutional Trading of Visa

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Sovereign Investment Advisors LLC bought a new stake in shares of Visa during the fourth quarter valued at approximately $424,000. Brighton Jones LLC boosted its holdings in shares of Visa by 50.1% in the 4th quarter. Brighton Jones LLC now owns 20,635 shares of the credit-card processor's stock valued at $6,522,000 after buying an additional 6,883 shares in the last quarter. Revolve Wealth Partners LLC grew its holdings in Visa by 68.9% in the fourth quarter. Revolve Wealth Partners LLC now owns 11,811 shares of the credit-card processor's stock worth $3,733,000 after purchasing an additional 4,817 shares during the last quarter. Leverage Partners Absolute Return Fund SPC purchased a new stake in Visa in the fourth quarter valued at about $204,000. Finally, SOA Wealth Advisors LLC. boosted its stake in Visa by 7.0% in the 4th quarter. SOA Wealth Advisors LLC. now owns 2,855 shares of the credit-card processor's stock worth $902,000 after purchasing an additional 187 shares in the last quarter. 82.15% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

V has been the topic of a number of research analyst reports. BMO Capital Markets raised their price target on shares of Visa from $370.00 to $380.00 and gave the company an "outperform" rating in a research note on Wednesday, April 30th. Piper Sandler boosted their target price on shares of Visa from $383.00 to $384.00 and gave the stock an "overweight" rating in a research note on Wednesday, April 30th. Oppenheimer upped their price target on shares of Visa from $390.00 to $391.00 and gave the stock an "outperform" rating in a report on Wednesday. Barclays reaffirmed an "overweight" rating on shares of Visa in a report on Friday, June 13th. Finally, The Goldman Sachs Group started coverage on Visa in a report on Monday, June 2nd. They set a "neutral" rating on the stock. Five research analysts have rated the stock with a hold rating, twenty-three have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the company has an average rating of "Moderate Buy" and an average price target of $372.84.

Visa Company Profile

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.