Visa (NYSE:V) Shares Gap Down to $288.63

Shares of Visa Inc. (NYSE:V) gapped down prior to trading on Tuesday . The stock had previously closed at $288.63, but opened at $280.18. Visa shares last traded at $277.79, with a volume of 1,266,266 shares trading hands.

Wall Street Analyst Weigh In

Several equities analysts have weighed in on V shares. Bank of America lifted their price objective on Visa from $279.00 to $308.00 and gave the company a “neutral” rating in a report on Tuesday, September 17th. Evercore ISI lowered their price objective on Visa from $335.00 to $330.00 and set an “outperform” rating on the stock in a research note on Tuesday, June 25th. Compass Point initiated coverage on Visa in a research report on Wednesday, September 4th. They set a “buy” rating and a $319.00 price target on the stock. William Blair raised shares of Visa to a “strong-buy” rating in a research report on Tuesday, July 23rd. Finally, The Goldman Sachs Group reiterated a “buy” rating and set a $317.00 target price on shares of Visa in a research note on Thursday, September 12th. Six research 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 company. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $310.22.

Visa Stock Down 4.1 %

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 company has a market cap of $506.43 billion, a price-to-earnings ratio of 31.03, a price-to-earnings-growth ratio of 2.05 and a beta of 0.96. The firm’s 50 day simple moving average is $271.05 and its 200 day simple moving average is $273.47.

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

Visa Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, September 3rd. Investors of record on Friday, August 9th were paid a dividend of $0.52 per share. The ex-dividend date of this dividend was Friday, August 9th. This represents a $2.08 annualized dividend and a yield of 0.75%. Visa’s dividend payout ratio is currently 23.24%.

Insider Buying and Selling at Visa

In other news, CEO Ryan Mcinerney sold 8,620 shares of the company’s stock in a transaction on Tuesday, September 3rd. The shares were 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 approximately $148,687.06. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Company insiders own 0.19% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of the company. Alaethes Wealth LLC raised its position in shares of Visa by 0.4% in the 4th quarter. Alaethes Wealth LLC now owns 8,843 shares of the credit-card processor’s stock valued at $2,302,000 after acquiring an additional 37 shares during the period. Jessup Wealth Management Inc grew its position in Visa by 0.7% during the first quarter. Jessup Wealth Management Inc now owns 5,051 shares of the credit-card processor’s stock worth $1,410,000 after buying an additional 37 shares in the last quarter. Cordatus Wealth Management LLC raised its position in shares of Visa by 0.3% in the 1st quarter. Cordatus Wealth Management LLC now owns 10,793 shares of the credit-card processor’s stock valued at $3,012,000 after buying an additional 37 shares in the last quarter. Garden State Investment Advisory Services LLC boosted its stake in Visa by 1.8% in the fourth quarter. Garden State Investment Advisory Services LLC now owns 2,191 shares of the credit-card processor’s stock valued at $571,000 after buying an additional 38 shares in the last quarter. Finally, Tlwm boosted its holdings in shares of Visa by 0.7% during the 2nd quarter. Tlwm now owns 5,241 shares of the credit-card processor’s stock valued at $1,376,000 after acquiring an additional 38 shares in the last quarter. 82.15% of the stock is currently owned by hedge funds and other institutional investors.

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.