Visa (NYSE:V) Trading Up 0.1%

Visa Inc. (NYSE:V) shot up 0.1% during mid-day trading on Monday . The company traded as high as $290.90 and last traded at $287.74. 890,932 shares traded hands during trading, a decline of 87% from the average session volume of 7,068,746 shares. The stock had previously closed at $287.35.

Wall Street Analysts Forecast Growth

A number of brokerages have issued reports on V. StockNews.com raised Visa from a “hold” rating to a “buy” rating in a report on Friday, August 9th. Jefferies Financial Group cut their price objective on Visa from $325.00 to $300.00 and set a “buy” rating for the company in a report on Wednesday, July 24th. Evercore ISI cut their price objective on Visa from $335.00 to $330.00 and set an “outperform” rating for the company in a report on Tuesday, June 25th. Compass Point began coverage on Visa in a report on Wednesday, September 4th. They set a “buy” rating and a $319.00 price objective for the company. Finally, Piper Sandler cut their price objective on Visa from $322.00 to $319.00 and set an “overweight” rating for the company in a report on Wednesday, July 24th. Six analysts have rated the stock with a hold rating, twenty-four have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, Visa presently has an average rating of “Moderate Buy” and an average price target of $310.22.

Visa Price Performance

The company has a market capitalization of $525.66 billion, a price-to-earnings ratio of 32.23, a price-to-earnings-growth ratio of 2.05 and a beta of 0.96. The company has a 50-day moving average price of $269.30 and a 200-day moving average price of $273.27. The company has a debt-to-equity ratio of 0.54, a quick ratio of 1.37 and a current ratio of 1.37.

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

Visa Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, September 3rd. Investors of record on Friday, August 9th were given a $0.52 dividend. The ex-dividend date of this dividend was Friday, August 9th. This represents a $2.08 annualized dividend and a dividend yield of 0.72%. Visa’s dividend payout ratio is presently 23.24%.

Insider Activity at Visa

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

Institutional Investors Weigh In On Visa

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. Westend Capital Management LLC bought a new stake in Visa in the 1st quarter valued at $25,000. Livelsberger Financial Advisory bought a new stake in Visa in the 4th quarter valued at $25,000. POM Investment Strategies LLC raised its stake in Visa by 970.0% in the 2nd quarter. POM Investment Strategies LLC now owns 107 shares of the credit-card processor’s stock valued at $28,000 after acquiring an additional 97 shares during the period. Frank Rimerman Advisors LLC bought a new stake in Visa in the 4th quarter valued at $33,000. Finally, TruNorth Capital Management LLC raised its stake in Visa by 211.9% in the 2nd quarter. TruNorth Capital Management LLC now owns 131 shares of the credit-card processor’s stock valued at $34,000 after acquiring an additional 89 shares during the period. Institutional investors 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.