Visa (NYSE:V) Stock Price Down 3.8%

Visa Inc. (NYSE:V) fell 3.8% on Tuesday . The company traded as low as $276.24 and last traded at $277.71. 3,702,966 shares changed hands during trading, a decline of 48% from the average session volume of 7,180,608 shares. The stock had previously closed at $288.63.

Analyst Ratings Changes

Several research analysts have recently issued reports on V shares. BNP Paribas upgraded shares of Visa from a “neutral” rating to an “outperform” rating and set a $325.00 target price on the stock in a research note on Tuesday, September 3rd. The Goldman Sachs Group restated a “buy” rating and set a $317.00 price target on shares of Visa in a research note on Thursday, September 12th. Piper Sandler reduced their target price on shares of Visa from $322.00 to $319.00 and set an “overweight” rating for the company in a report on Wednesday, July 24th. JPMorgan Chase & Co. lifted their price target on shares of Visa from $290.00 to $320.00 and gave the stock an “overweight” rating in a research note on Tuesday, August 20th. Finally, Bank of America lifted their target price on Visa from $279.00 to $308.00 and gave the company a “neutral” rating in a research report on Tuesday, September 17th. Six equities research analysts have rated the stock with a hold rating, twenty-four have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, Visa has an average rating of “Moderate Buy” and an average price target of $310.22.

Visa Stock Performance

The firm’s 50 day simple moving average is $271.05 and its 200 day simple moving average is $273.47. The firm has a market capitalization of $503.69 billion, a price-to-earnings ratio of 30.82, a PEG ratio of 2.05 and a beta of 0.96. 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 issued its quarterly earnings data on Tuesday, July 23rd. The credit-card processor reported $2.42 earnings per share (EPS) for the quarter, meeting the consensus estimate of $2.42. The business had revenue of $8.90 billion during the quarter, compared to analysts’ expectations 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% on a year-over-year basis. During the same quarter in the previous year, the firm posted $2.16 EPS. Sell-side analysts forecast that Visa Inc. will post 9.92 earnings per share for the current fiscal year.

Visa Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, September 3rd. Investors of record on Friday, August 9th were paid a $0.52 dividend. The ex-dividend date was Friday, August 9th. This represents a $2.08 dividend on an annualized basis and a yield of 0.76%. Visa’s dividend payout ratio is currently 23.24%.

Insiders Place Their Bets

In related news, CEO Ryan Mcinerney sold 8,620 shares of the firm’s stock in a transaction dated 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 transaction, the chief executive officer now directly 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 at this link. 0.19% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Westend Capital Management LLC acquired a new stake in shares of Visa in the 1st quarter worth $25,000. Livelsberger Financial Advisory acquired a new stake in shares of Visa during the fourth quarter worth about $25,000. POM Investment Strategies LLC increased its stake in Visa by 970.0% during the 2nd quarter. POM Investment Strategies LLC now owns 107 shares of the credit-card processor’s stock worth $28,000 after buying an additional 97 shares during the period. Frank Rimerman Advisors LLC acquired a new stake in Visa during the 4th quarter worth approximately $33,000. Finally, TruNorth Capital Management LLC boosted its position 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 buying an additional 89 shares during the period. Hedge funds and other 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.