Visa Inc. (NYSE:V - Get Free Report)'s stock price rose 1.9% on Wednesday . The company traded as high as $343.48 and last traded at $343.26. Approximately 1,574,076 shares traded hands during trading, a decline of 76% from the average daily volume of 6,599,576 shares. The stock had previously closed at $336.74.
Wall Street Analyst Weigh In
V has been the topic of a number of research reports. Mizuho raised Visa from a "neutral" rating to an "outperform" rating and upped their target price for the stock from $359.00 to $425.00 in a research report on Thursday, June 5th. The Goldman Sachs Group initiated coverage on Visa in a research report on Monday, June 2nd. They set a "neutral" rating on the stock. Morgan Stanley lifted their target price on Visa from $386.00 to $402.00 and gave the company an "overweight" rating in a research report on Wednesday, July 30th. UBS Group reaffirmed a "buy" rating and set a $415.00 target price (up previously from $405.00) on shares of Visa in a research report on Wednesday, July 30th. Finally, Oppenheimer lifted their target price on Visa from $390.00 to $391.00 and gave the company an "outperform" rating in a research report on Wednesday, July 2nd. Five analysts have rated the stock with a hold rating, twenty-three have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus target price of $380.84.
Get Our Latest Stock Report on V
Visa Price Performance
The company has a debt-to-equity ratio of 0.52, a quick ratio of 1.12 and a current ratio of 1.12. The stock has a market cap of $628.02 billion, a P/E ratio of 33.46, a price-to-earnings-growth ratio of 2.24 and a beta of 0.94. The firm has a 50-day moving average price of $351.62 and a 200-day moving average price of $347.23.
Visa (NYSE:V - Get Free Report) last issued its earnings results on Tuesday, July 29th. The credit-card processor reported $2.98 EPS for the quarter, beating the consensus estimate of $2.85 by $0.13. Visa had a return on equity of 58.93% and a net margin of 52.16%. The business had revenue of $10.17 billion for the quarter, compared to the consensus estimate of $9.82 billion. During the same period last year, the business posted $2.42 EPS. The company's revenue was up 14.3% compared to the same quarter last year. On average, analysts forecast that Visa Inc. will post 11.3 earnings per share for the current fiscal year.
Visa Announces Dividend
The company also recently declared a quarterly dividend, which will be paid on Tuesday, September 2nd. Stockholders of record on Tuesday, August 12th will be paid a $0.59 dividend. This represents a $2.36 dividend on an annualized basis and a dividend yield of 0.7%. The ex-dividend date is Tuesday, August 12th. Visa's dividend payout ratio (DPR) is 23.05%.
Insiders Place Their Bets
In other news, CEO Ryan Mcinerney sold 8,630 shares of Visa stock in a transaction dated Tuesday, July 1st. The stock was sold at an average price of $353.82, for a total value of $3,053,466.60. Following the sale, the chief executive officer directly owned 537 shares of the company's stock, valued at approximately $190,001.34. The trade was a 94.14% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Paul D. Fabara sold 46,214 shares of the business's stock in a transaction that occurred on Thursday, June 5th. The stock was sold at an average price of $370.00, for a total value of $17,099,180.00. Following the sale, the insider directly owned 26,413 shares in the company, valued at $9,772,810. The trade was a 63.63% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 75,100 shares of company stock worth $27,643,224. Company insiders own 0.13% of the company's stock.
Hedge Funds Weigh In On Visa
A number of large investors have recently bought and sold shares of the business. Keystone Global Partners LLC purchased a new stake in Visa during the 1st quarter worth about $26,000. Family Legacy Financial Solutions LLC acquired a new position in Visa during the 2nd quarter worth approximately $28,000. von Borstel & Associates Inc. purchased a new stake in shares of Visa during the 1st quarter worth approximately $27,000. Harbor Asset Planning Inc. purchased a new stake in Visa in the 2nd quarter valued at approximately $29,000. Finally, Bare Financial Services Inc lifted its stake in Visa by 287.0% in the 2nd quarter. Bare Financial Services Inc now owns 89 shares of the credit-card processor's stock valued at $32,000 after buying an additional 66 shares in the last quarter. Institutional investors and hedge funds own 82.15% of the company's stock.
About Visa
(
Get Free Report)
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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