Visa (NYSE:V) Sets New 1-Year High - What's Next?

Visa Inc. (NYSE:V - Get Free Report) shares hit a new 52-week high during trading on Tuesday . The company traded as high as $371.44 and last traded at $370.98, with a volume of 2580258 shares trading hands. The stock had previously closed at $366.66.

Wall Street Analysts Forecast Growth

V has been the subject of a number of research analyst reports. Susquehanna reiterated a "positive" rating on shares of Visa in a research note on Friday, March 21st. Piper Sandler raised their price target on Visa from $383.00 to $384.00 and gave the company an "overweight" rating in a report on Wednesday, April 30th. William Blair reissued an "outperform" rating on shares of Visa in a research note on Wednesday, April 30th. Mizuho upgraded Visa from a "neutral" rating to an "outperform" rating and raised their target price for the company from $359.00 to $425.00 in a research note on Thursday, June 5th. Finally, Macquarie cut their price target on Visa from $400.00 to $380.00 and set an "outperform" rating for the company in a report on Wednesday, April 30th. Five equities research analysts have rated the stock with a hold rating, twenty-three have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $372.80.

Visa Price Performance

The company has a current ratio of 1.12, a quick ratio of 1.12 and a debt-to-equity ratio of 0.45. The business's 50-day simple moving average is $346.49 and its two-hundred day simple moving average is $336.52. The firm has a market cap of $688.59 billion, a price-to-earnings ratio of 37.62, a P/E/G ratio of 2.33 and a beta of 0.94.

Visa (NYSE:V - Get Free Report) last announced its earnings results on Tuesday, April 29th. The credit-card processor reported $2.76 earnings per share for the quarter, topping analysts' consensus estimates of $2.68 by $0.08. The business had revenue of $9.59 billion during the quarter, compared to the consensus estimate of $9.57 billion. Visa had a net margin of 54.27% and a return on equity of 54.79%. Visa's quarterly revenue was up 9.3% on a year-over-year basis. During the same quarter last year, the firm earned $2.51 earnings per share. As a group, research analysts expect that Visa Inc. will post 11.3 EPS for the current fiscal year.

Visa Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Monday, June 2nd. Investors of record on Tuesday, May 13th were given a dividend of $0.59 per share. The ex-dividend date of this dividend was Tuesday, May 13th. This represents a $2.36 dividend on an annualized basis and a dividend yield of 0.63%. Visa's payout ratio is presently 23.72%.

Insider Activity

In other news, insider Paul D. Fabara sold 46,214 shares of the company's stock in a transaction on Thursday, June 5th. The stock was sold at an average price of $370.00, for a total transaction of $17,099,180.00. Following the transaction, the insider now owns 26,413 shares of the company's stock, valued at $9,772,810. This represents a 63.63% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Ryan Mcinerney sold 8,620 shares of the business's stock in a transaction on Tuesday, April 1st. The shares were sold at an average price of $350.44, for a total transaction of $3,020,792.80. Following the transaction, the chief executive officer now owns 537 shares of the company's stock, valued at $188,186.28. This trade represents a 94.14% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 168,162 shares of company stock worth $58,645,479 over the last quarter. 0.13% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Visa

Several institutional investors and hedge funds have recently made changes to their positions in the business. Hirtle Callaghan & Co LLC lifted its holdings in shares of Visa by 1.3% in the fourth quarter. Hirtle Callaghan & Co LLC now owns 2,291 shares of the credit-card processor's stock valued at $724,000 after purchasing an additional 29 shares in the last quarter. FWL Investment Management LLC raised its holdings in Visa by 0.5% during the 4th quarter. FWL Investment Management LLC now owns 6,344 shares of the credit-card processor's stock valued at $2,005,000 after acquiring an additional 29 shares during the period. Yeomans Consulting Group Inc. grew its stake in Visa by 2.9% during the first quarter. Yeomans Consulting Group Inc. now owns 1,027 shares of the credit-card processor's stock valued at $360,000 after acquiring an additional 29 shares in the last quarter. Semus Wealth Partners LLC increased its position in shares of Visa by 0.8% in the first quarter. Semus Wealth Partners LLC now owns 3,449 shares of the credit-card processor's stock worth $1,209,000 after purchasing an additional 29 shares during the last quarter. Finally, Elevation Wealth Partners LLC lifted its stake in Visa by 3.3% during the fourth quarter. Elevation Wealth Partners LLC now owns 939 shares of the credit-card processor's stock worth $297,000 after purchasing an additional 30 shares during the last quarter. 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.