Visa (NYSE:V) General Counsel Julie Rottenberg Sells 2,028 Shares of Stock

Key Points

• Visa General Counsel Julie Rottenberg sold 2,028 shares at an average price of $381.35, generating approximately $773,378. The transaction was conducted under a pre-arranged Rule 10b5-1 plan and reduced her stake by 9.93%.
• Visa shares fell 1.8% to $372.40, despite the company recently reporting quarterly earnings of $3.32 per share and revenue of $11.63 billion, both above analyst expectations.
• Analysts maintain a positive outlook, with Visa holding an average “Buy” rating and a consensus price target of $416.62. The company also declared a quarterly dividend of $0.67 per share, equivalent to a 0.7% annualized yield.

Visa Inc. (NYSE:V - Get Free Report) General Counsel Julie Rottenberg sold 2,028 shares of the stock in a transaction on Monday, August 31st. The shares were sold at an average price of $381.35, for a total value of $773,377.80. Following the sale, the general counsel owned 18,404 shares in the company, valued at $7,018,365.40. The trade was a 9.93% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Visa Trading Down 1.8%

V traded down $6.97 during trading on Tuesday, reaching $372.40. The company had a trading volume of 5,624,045 shares, compared to its average volume of 7,841,764. 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 business has a 50 day simple moving average of $360.10 and a 200-day simple moving average of $331.83. The stock has a market cap of $664.52 billion, a P/E ratio of 31.67, a PEG ratio of 2.04 and a beta of 0.74. Visa Inc. has a 52 week low of $293.89 and a 52 week high of $385.57.

Visa (NYSE:V - Get Free Report) last posted its quarterly earnings data on Tuesday, July 28th. The credit-card processor reported $3.32 earnings per share for the quarter, beating analysts' consensus estimates of $3.23 by $0.09. The business had revenue of $11.63 billion for the quarter, compared to analysts' expectations of $11.40 billion. Visa had a net margin of 50.78% and a return on equity of 67.68%. The business's revenue was up 14.4% compared to the same quarter last year. During the same quarter in the previous year, the business posted $2.98 earnings per share. On average, equities analysts anticipate that Visa Inc. will post 13.16 EPS for the current fiscal year.

Visa Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 1st. Investors of record on Tuesday, August 11th will be given 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 is Tuesday, August 11th. Visa's dividend payout ratio is 22.79%.

Institutional Trading of Visa

Large investors have recently modified their holdings of the company. Cresta Advisors Ltd. bought a new position in shares of Visa during the 4th quarter worth $26,000. Parvin Asset Management LLC raised its holdings 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 valued at $26,000 after acquiring an additional 50 shares in the last quarter. Philadelphia Investment Partners LLC bought a new stake in shares of Visa in the second quarter valued at about $29,000. Virtus Advisers LLC bought a new stake in shares of Visa in the second quarter valued at about $33,000. Finally, RHL Group LLC purchased a new stake in Visa in the fourth quarter worth about $34,000. Hedge funds and other institutional investors own 82.15% of the company's stock.

Analysts Set New Price Targets

Several brokerages have issued reports on V. Truist Financial set a $406.00 target price on Visa and gave the company a "buy" rating in a research report on Wednesday, August 5th. Citigroup reiterated a "buy" rating and issued a $440.00 price target (up from $400.00) on shares of Visa in a report on Wednesday, July 29th. Weiss Ratings raised Visa from a "buy (b-)" rating to a "buy (b)" rating in a research note on Thursday, July 30th. Wolfe Research restated an "outperform" rating and set a $460.00 price objective (up from $435.00) on shares of Visa in a report on Tuesday, August 25th. Finally, Royal Bank Of Canada reaffirmed an "outperform" rating and issued a $466.00 price objective (up from $412.00) on shares of Visa in a research report on Monday. Seven research 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, Visa presently has an average rating of "Buy" and an average target price of $416.62.

About Visa

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.

Continue following MarketBeat

Add MarketBeat as your preferred source on Google to see our latest stories in your feed.

Add As Preferred Source