Visa (NYSE:V) Trading 1% Higher - Here's Why

Visa Inc. (NYSE:V - Get Free Report)'s share price was up 1% on Monday . The company traded as high as $353.20 and last traded at $352.63. Approximately 1,016,492 shares were traded during trading, a decline of 85% from the average daily volume of 6,773,057 shares. The stock had previously closed at $349.05.

Wall Street Analyst Weigh In

A number of research firms have issued reports on V. Macquarie decreased their price objective on Visa from $400.00 to $380.00 and set an "outperform" rating for the company in a report on Wednesday, April 30th. Jefferies Financial Group raised their price objective on shares of Visa from $400.00 to $410.00 and gave the company a "buy" rating in a research note on Tuesday, May 27th. The Goldman Sachs Group began coverage on Visa in a research note on Monday, June 2nd. They issued a "neutral" rating for the company. 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 report on Wednesday, April 30th. Finally, Wall Street Zen upgraded shares of Visa from a "hold" rating to a "buy" rating in a report on Monday, May 12th. Five equities research analysts have rated the stock with a hold rating, twenty-three have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average target price of $375.52.

Visa Stock Performance

The company has a market capitalization of $647.46 billion, a price-to-earnings ratio of 35.27, a price-to-earnings-growth ratio of 2.36 and a beta of 0.92. The company's fifty day simple moving average is $356.82 and its two-hundred day simple moving average is $344.02. The company has a debt-to-equity ratio of 0.45, a quick ratio of 1.08 and a current 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 analysts' consensus estimates of $2.68 by $0.08. Visa had a net margin of 52.86% and a return on equity of 56.28%. The company had revenue of $9.59 billion during the quarter, compared to analyst estimates of $9.57 billion. During the same period in the prior year, the business posted $2.51 EPS. The business's revenue for the quarter was up 9.3% compared to the same quarter last year. Equities research analysts predict that Visa Inc. will post 11.3 earnings per share for the current fiscal year.

Visa Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Monday, June 2nd. Shareholders 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 yield of 0.67%. Visa's payout ratio is currently 23.72%.

Insider Activity

In other news, insider Paul D. Fabara sold 11,636 shares of the company's stock in a transaction dated Wednesday, June 11th. The stock was sold at an average price of $375.00, for a total transaction of $4,363,500.00. Following the completion of the transaction, the insider directly owned 26,413 shares of the company's stock, valued at $9,904,875. This represents a 30.58% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Ryan Mcinerney sold 8,630 shares of the stock in a transaction that occurred 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 transaction, the chief executive officer directly owned 537 shares of the company's stock, valued at $190,001.34. This trade represents a 94.14% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 101,108 shares of company stock valued at $36,771,200. 0.13% of the stock is owned by company insiders.

Hedge Funds Weigh In On Visa

Several hedge funds have recently bought and sold shares of the company. Keystone Global Partners LLC bought a new position in Visa during the first quarter worth $26,000. Family Legacy Financial Solutions LLC bought a new stake in Visa in the 2nd quarter valued at about $28,000. von Borstel & Associates Inc. bought a new stake in shares of Visa during the 1st quarter valued at $27,000. Cranbrook Wealth Management LLC raised its position in shares of Visa by 82.0% in the second quarter. Cranbrook Wealth Management LLC now owns 91 shares of the credit-card processor's stock worth $32,000 after buying an additional 41 shares in the last quarter. Finally, Westend Capital Management LLC boosted its stake in Visa by 83.1% in the second quarter. Westend Capital Management LLC now owns 108 shares of the credit-card processor's stock worth $38,000 after buying an additional 49 shares in the last quarter. 82.15% of the stock is owned by institutional investors.

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.

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