Visa Inc. (NYSE:V - Get Free Report) shares dropped 0.4% on Thursday . The company traded as low as $356.58 and last traded at $356.72. Approximately 1,657,086 shares were traded during trading, a decline of 75% from the average daily volume of 6,574,436 shares. The stock had previously closed at $358.30.
Analysts Set New Price Targets
A number of analysts have commented on V shares. Susquehanna reaffirmed a "positive" rating on shares of Visa in a research report on Friday, March 21st. Wells Fargo & Company upped their target price on Visa from $360.00 to $395.00 and gave the company an "overweight" rating in a research report on Friday, January 31st. Piper Sandler increased their price target on shares of Visa from $383.00 to $384.00 and gave the stock an "overweight" rating in a report on Wednesday, April 30th. Oppenheimer restated an "outperform" rating on shares of Visa in a research note on Thursday, February 13th. Finally, Citigroup reiterated a "neutral" rating on shares of Visa in a research note on Thursday, February 13th. Six investment analysts have rated the stock with a hold rating, twenty-one have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, Visa has a consensus rating of "Moderate Buy" and a consensus target price of $362.38.
Read Our Latest Stock Report on V
Visa Stock Performance
The firm has a market capitalization of $662.69 billion, a price-to-earnings ratio of 36.19, a PEG ratio of 2.33 and a beta of 0.96. The company has a debt-to-equity ratio of 0.45, a current ratio of 1.12 and a quick ratio of 1.12. The firm's fifty day moving average is $340.60 and its 200 day moving average is $330.88.
Visa (NYSE:V - Get Free Report) last released its quarterly earnings results on Tuesday, April 29th. The credit-card processor reported $2.76 EPS for the quarter, beating analysts' consensus estimates of $2.68 by $0.08. Visa had a net margin of 54.27% and a return on equity of 54.79%. The company had revenue of $9.59 billion for the quarter, compared to analyst estimates of $9.57 billion. During the same quarter last year, the firm posted $2.51 earnings per share. The company's quarterly revenue was up 9.3% compared to the same quarter last year. On average, analysts predict that Visa Inc. will post 11.3 EPS for the current fiscal year.
Visa Dividend Announcement
The company also recently announced a quarterly dividend, which will be paid on Monday, June 2nd. Stockholders of record on Tuesday, May 13th will be issued a $0.59 dividend. This represents a $2.36 annualized dividend and a dividend yield of 0.66%. The ex-dividend date is Tuesday, May 13th. Visa's payout ratio is 23.72%.
Insider Activity at Visa
In related news, CEO Ryan Mcinerney sold 8,620 shares of the firm's stock in a transaction on Tuesday, April 1st. The shares were sold at an average price of $350.44, for a total value of $3,020,792.80. Following the completion of the transaction, the chief executive officer now directly owns 537 shares of the company's stock, valued at approximately $188,186.28. This trade represents a 94.14% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Paul D. Fabara sold 14,813 shares of the firm's stock in a transaction on Thursday, May 8th. The shares were sold at an average price of $355.04, for a total value of $5,259,207.52. Following the sale, the insider now directly owns 26,413 shares of the company's stock, valued at $9,377,671.52. This represents a 35.93% decrease in their position. The disclosure for this sale can be found here. Insiders sold 121,948 shares of company stock valued at $41,548,282 over the last ninety days. 0.13% of the stock is owned by insiders.
Institutional Trading of Visa
Hedge funds have recently added to or reduced their stakes in the company. Regent Peak Wealth Advisors LLC boosted its holdings in Visa by 2.5% in the fourth quarter. Regent Peak Wealth Advisors LLC now owns 4,927 shares of the credit-card processor's stock valued at $1,557,000 after acquiring an additional 121 shares during the last quarter. Capital & Planning LLC increased its position in shares of Visa by 21.2% during the fourth quarter. Capital & Planning LLC now owns 949 shares of the credit-card processor's stock valued at $300,000 after acquiring an additional 166 shares during the last quarter. Diversify Wealth Management LLC boosted its stake in Visa by 45.5% in the fourth quarter. Diversify Wealth Management LLC now owns 21,449 shares of the credit-card processor's stock valued at $6,600,000 after acquiring an additional 6,704 shares during the last quarter. Seilern Investment Management Ltd bought a new position in shares of Visa during the 4th quarter worth $12,610,000. Finally, Mechanics Bank Trust Department raised its position in shares of Visa by 3.1% in the fourth quarter. Mechanics Bank Trust Department now owns 33,859 shares of the credit-card processor's stock valued at $10,701,000 after purchasing an additional 1,013 shares during the period. 82.15% of the stock is owned by institutional investors and hedge funds.
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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