Visa (NYSE:V) Stock Price Down 0.1% on Analyst Downgrade

Shares of Visa Inc. (NYSE:V) were down 0.1% on Wednesday after Evercore ISI lowered their price target on the stock from $335.00 to $330.00. Evercore ISI currently has an outperform rating on the stock. Visa traded as low as $271.75 and last traded at $273.25. Approximately 1,403,574 shares changed hands during trading, a decline of 79% from the average daily volume of 6,631,442 shares. The stock had previously closed at $273.53.

Other research analysts also recently issued reports about the company. Mizuho boosted their price objective on Visa from $265.00 to $275.00 and gave the company a “neutral” rating in a research note on Thursday, May 2nd. Royal Bank of Canada boosted their price objective on Visa from $309.00 to $315.00 and gave the company an “outperform” rating in a research note on Wednesday, April 24th. Robert W. Baird boosted their price objective on Visa from $314.00 to $320.00 and gave the company an “outperform” rating in a research note on Wednesday, April 17th. Piper Sandler initiated coverage on Visa in a research note on Monday, May 13th. They issued an “overweight” rating and a $322.00 price objective on the stock. Finally, Redburn Atlantic reissued a “neutral” rating and issued a $307.00 price objective on shares of Visa in a research note on Wednesday, March 27th. Five research analysts have rated the stock with a hold rating and twenty-one have issued a buy rating to the stock. According to data from MarketBeat.com, Visa presently has a consensus rating of “Moderate Buy” and a consensus price target of $303.56.

Insider Buying and Selling at Visa

In other Visa news, CEO Ryan Mcinerney sold 8,200 shares of the stock in a transaction on Monday, April 1st. The stock was sold at an average price of $280.36, for a total transaction of $2,298,952.00. Following the completion of the transaction, the chief executive officer now directly owns 538 shares of the company’s stock, valued at $150,833.68. The sale was disclosed in a filing with the SEC, which is available through the SEC website. In other Visa news, Director Lloyd Carney sold 909 shares of the stock in a transaction on Friday, April 26th. The stock was sold at an average price of $275.55, for a total transaction of $250,474.95. Following the sale, the director now owns 2,591 shares in the company, valued at $713,950.05. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO Ryan Mcinerney sold 8,200 shares of the stock in a transaction on Monday, April 1st. The stock was sold at an average price of $280.36, for a total value of $2,298,952.00. Following the sale, the chief executive officer now owns 538 shares in the company, valued at approximately $150,833.68. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 34,402 shares of company stock valued at $9,559,382. Company insiders own 0.19% of the company’s stock.

Institutional Investors Weigh In On Visa

Several large investors have recently added to or reduced their stakes in the business. Sensible Money LLC bought a new stake in Visa during the first quarter valued at $210,000. Abich Financial Wealth Management LLC boosted its stake in Visa by 52.9% during the first quarter. Abich Financial Wealth Management LLC now owns 133 shares of the credit-card processor’s stock valued at $37,000 after buying an additional 46 shares during the period. HM Payson & Co. boosted its stake in Visa by 1.7% during the first quarter. HM Payson & Co. now owns 408,825 shares of the credit-card processor’s stock valued at $114,095,000 after buying an additional 6,904 shares during the period. SRN Advisors LLC lifted its stake in Visa by 31.9% during the first quarter. SRN Advisors LLC now owns 11,129 shares of the credit-card processor’s stock worth $3,106,000 after purchasing an additional 2,693 shares during the last quarter. Finally, NBW Capital LLC lifted its stake in Visa by 2.8% during the first quarter. NBW Capital LLC now owns 18,049 shares of the credit-card processor’s stock worth $5,037,000 after purchasing an additional 491 shares during the last quarter. Institutional investors own 82.15% of the company’s stock.

Visa Stock Performance

The company has a debt-to-equity ratio of 0.53, a current ratio of 1.40 and a quick ratio of 1.40. The company has a 50 day simple moving average of $274.11 and a 200-day simple moving average of $273.41. The stock has a market cap of $499.90 billion, a P/E ratio of 30.54, a price-to-earnings-growth ratio of 1.87 and a beta of 0.97.

Visa (NYSE:V) last issued its quarterly earnings results on Tuesday, April 23rd. The credit-card processor reported $2.51 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.43 by $0.08. Visa had a return on equity of 51.23% and a net margin of 53.87%. The firm had revenue of $8.78 billion during the quarter, compared to analyst estimates of $8.62 billion. During the same quarter in the previous year, the company posted $2.09 earnings per share. The company’s revenue was up 9.9% compared to the same quarter last year. On average, equities analysts expect that Visa Inc. will post 9.94 earnings per share for the current fiscal year.

Visa Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, June 3rd. Stockholders of record on Friday, May 17th were issued a $0.52 dividend. The ex-dividend date of this dividend was Thursday, May 16th. This represents a $2.08 annualized dividend and a dividend yield of 0.76%. Visa’s dividend payout ratio is currently 23.24%.

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.