Visa (NYSE:V) Stock Price Up 0.9% – Here’s What Happened

Visa Inc. (NYSE:V)’s share price traded up 0.9% during mid-day trading on Tuesday . The stock traded as high as $339.00 and last traded at $338.33. 972,752 shares traded hands during mid-day trading, a decline of 87% from the average session volume of 7,241,224 shares. The stock had previously closed at $335.18.

Analyst Ratings Changes

V has been the subject of several recent research reports. Wells Fargo & Company boosted their price objective on Visa from $360.00 to $395.00 and gave the stock an “overweight” rating in a report on Friday, January 31st. Oppenheimer restated an “outperform” rating on shares of Visa in a report on Thursday, February 13th. William Blair reaffirmed an “outperform” rating on shares of Visa in a research note on Friday, January 31st. Susquehanna reiterated a “positive” rating on shares of Visa in a research report on Friday, March 21st. Finally, Citigroup restated a “neutral” rating on shares of Visa in a research report on Thursday, February 13th. Seven research analysts have rated the stock with a hold rating, twenty-one have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $355.84.

Visa Price Performance

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 has a market cap of $626.18 billion, a P/E ratio of 33.98, a PEG ratio of 2.33 and a beta of 0.94. The company’s 50-day moving average is $342.12 and its two-hundred day moving average is $319.51.

Visa (NYSE:V) last announced its quarterly earnings data on Thursday, January 30th. The credit-card processor reported $2.75 EPS for the quarter, beating the consensus estimate of $2.66 by $0.09. Visa had a net margin of 54.27% and a return on equity of 54.79%. Sell-side analysts anticipate that Visa Inc. will post 11.3 EPS for the current fiscal year.

Visa Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, March 3rd. Stockholders of record on Tuesday, February 11th were paid a $0.59 dividend. The ex-dividend date of this dividend was Tuesday, February 11th. This represents a $2.36 dividend on an annualized basis and a dividend yield of 0.70%. Visa’s payout ratio is currently 23.79%.

Insider Buying and Selling

In other Visa news, CEO Ryan Mcinerney sold 8,620 shares of the company’s stock in a transaction dated Tuesday, April 1st. The stock was sold at an average price of $350.44, for a total value of $3,020,792.80. Following the sale, the chief executive officer now owns 537 shares in the company, valued at approximately $188,186.28. The trade was a 94.14 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, insider Tullier Kelly Mahon sold 33,741 shares of the firm’s stock in a transaction dated Friday, February 7th. The stock was sold at an average price of $349.77, for a total value of $11,801,589.57. Following the transaction, the insider now owns 36,566 shares of the company’s stock, valued at $12,789,689.82. This trade represents a 47.99 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 143,205 shares of company stock worth $48,842,490 in the last three months. 0.13% of the stock is owned by corporate insiders.

Institutional Trading of Visa

A number of institutional investors and hedge funds have recently added to or reduced their stakes in V. Howard Capital Management Group LLC raised its stake in Visa by 0.6% during the third quarter. Howard Capital Management Group LLC now owns 106,355 shares of the credit-card processor’s stock worth $29,242,000 after buying an additional 610 shares during the last quarter. Principal Financial Group Inc. grew its holdings in Visa by 7.7% during the 3rd quarter. Principal Financial Group Inc. now owns 5,733,284 shares of the credit-card processor’s stock worth $1,576,366,000 after acquiring an additional 411,210 shares during the period. Morse Asset Management Inc acquired a new position in shares of Visa in the 3rd quarter valued at about $69,000. Passumpsic Savings Bank boosted its position in shares of Visa by 2.0% during the 3rd quarter. Passumpsic Savings Bank now owns 9,137 shares of the credit-card processor’s stock valued at $2,512,000 after purchasing an additional 179 shares in the last quarter. Finally, Virtu Financial LLC grew its stake in Visa by 101.5% during the third quarter. Virtu Financial LLC now owns 44,984 shares of the credit-card processor’s stock worth $12,368,000 after purchasing an additional 22,658 shares during the period. Institutional investors and hedge funds 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.