Visa (NYSE:V) Trading 2% Higher

Visa Inc. (NYSE:V) shares traded up 2% on Monday . The company traded as high as $285.65 and last traded at $284.93. 1,949,709 shares changed hands during trading, a decline of 73% from the average session volume of 7,094,657 shares. The stock had previously closed at $279.37.

Analyst Ratings Changes

Several research firms recently issued reports on V. Morgan Stanley cut their target price on Visa from $326.00 to $322.00 and set an “overweight” rating for the company in a research report on Wednesday, July 24th. Macquarie restated an “outperform” rating and set a $300.00 target price on shares of Visa in a research report on Wednesday, July 24th. Piper Sandler reduced their price target on shares of Visa from $322.00 to $319.00 and set an “overweight” rating on the stock in a report on Wednesday, July 24th. Bank of America reissued a “neutral” rating and set a $297.00 price objective (down previously from $305.00) on shares of Visa in a report on Wednesday, July 10th. Finally, TD Cowen reduced their target price on Visa from $320.00 to $318.00 and set a “buy” rating on the stock in a report on Wednesday, July 24th. Six analysts have rated the stock with a hold rating, twenty-three have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, Visa has a consensus rating of “Moderate Buy” and an average target price of $309.54.

Visa Trading Down 0.5 %

The company has a quick ratio of 1.37, a current ratio of 1.37 and a debt-to-equity ratio of 0.54. The stock’s 50 day moving average is $267.32 and its two-hundred day moving average is $273.13. The company has a market capitalization of $517.46 billion, a PE ratio of 31.59, a price-to-earnings-growth ratio of 1.97 and a beta of 0.96.

Visa (NYSE:V) last posted its earnings results on Tuesday, July 23rd. The credit-card processor reported $2.42 earnings per share for the quarter, hitting analysts’ consensus estimates of $2.42. Visa had a return on equity of 51.94% and a net margin of 54.72%. The company had revenue of $8.90 billion during the quarter, compared to analyst estimates of $8.92 billion. During the same quarter in the prior year, the business earned $2.16 earnings per share. Visa’s revenue was up 9.6% on a year-over-year basis. As a group, sell-side analysts predict that Visa Inc. will post 9.92 EPS for the current fiscal year.

Visa Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, September 3rd. Shareholders of record on Friday, August 9th were paid a $0.52 dividend. The ex-dividend date of this dividend was Friday, August 9th. This represents a $2.08 annualized dividend and a yield of 0.73%. Visa’s dividend payout ratio (DPR) is 23.24%.

Insider Activity

In other Visa news, CEO Ryan Mcinerney sold 8,620 shares of the firm’s stock in a transaction dated Tuesday, September 3rd. The stock was sold at an average price of $276.37, for a total value of $2,382,309.40. Following the completion of the sale, the chief executive officer now owns 538 shares of the company’s stock, valued at $148,687.06. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Company insiders own 0.19% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of V. Heritage Wealth Management Inc. purchased a new stake in shares of Visa in the 2nd quarter valued at $721,000. Lazari Capital Management Inc. lifted its position in Visa by 31.3% during the second quarter. Lazari Capital Management Inc. now owns 5,536 shares of the credit-card processor’s stock valued at $1,453,000 after purchasing an additional 1,319 shares during the period. Sanctuary Advisors LLC purchased a new stake in Visa in the second quarter valued at $87,426,000. Ghisallo Capital Management LLC acquired a new stake in Visa during the 2nd quarter worth about $38,027,000. Finally, Clear Rock Advisors LLC raised its stake in shares of Visa by 3.6% during the 2nd quarter. Clear Rock Advisors LLC now owns 13,067 shares of the credit-card processor’s stock valued at $3,430,000 after buying an additional 459 shares during the last quarter. 82.15% of the stock is owned by institutional investors and hedge funds.

Visa Company Profile

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.