Visa (NYSE:V) Stock Price Down 0.1%

Visa Inc. (NYSE:V)’s share price dropped 0.1% during trading on Thursday . The company traded as low as $275.84 and last traded at $276.74. Approximately 652,169 shares were traded during mid-day trading, a decline of 91% from the average daily volume of 7,204,705 shares. The stock had previously closed at $277.00.

Analyst Ratings Changes

V has been the subject of a number of research reports. Bank of America upped their price target on shares of Visa from $279.00 to $308.00 and gave the stock a “neutral” rating in a research report on Tuesday, September 17th. BMO Capital Markets increased their price objective on shares of Visa from $300.00 to $310.00 and gave the company an “outperform” rating in a research report on Thursday. Jefferies Financial Group reduced their target price on shares of Visa from $325.00 to $300.00 and set a “buy” rating on the stock in a research report on Wednesday, July 24th. Morgan Stanley reaffirmed an “overweight” rating and set a $322.00 price target on shares of Visa in a report on Wednesday, September 25th. Finally, BNP Paribas upgraded shares of Visa from a “neutral” rating to an “outperform” rating and set a $325.00 price objective on the stock in a report on Tuesday, September 3rd. Six investment analysts have rated the stock with a hold rating, twenty-three have issued a buy rating and two have issued a strong buy rating to the company. Based on data from MarketBeat.com, Visa has an average rating of “Moderate Buy” and an average target price of $312.04.

Visa Price Performance

The stock has a 50 day moving average of $272.17 and a two-hundred day moving average of $273.10. The company has a debt-to-equity ratio of 0.54, a quick ratio of 1.37 and a current ratio of 1.37. The stock has a market cap of $506.03 billion, a PE ratio of 30.92, a PEG ratio of 1.94 and a beta of 0.96.

Visa (NYSE:V) last announced its earnings results 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 company had revenue of $8.90 billion for 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 company’s revenue was up 9.6% on a year-over-year basis. During the same period in the previous year, the business earned $2.16 EPS. Equities analysts anticipate that Visa Inc. will post 9.92 EPS for the current year.

Visa Announces Dividend

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

Insider Buying and Selling

In related news, CEO Ryan Mcinerney sold 8,620 shares of the business’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 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 document filed with the SEC, which is available at this link. 0.19% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Visa

Several hedge funds and other institutional investors have recently added to or reduced their stakes in V. Livelsberger Financial Advisory acquired a new position in Visa during the 4th quarter valued at $25,000. Westend Capital Management LLC acquired a new position in shares of Visa during the first quarter valued at about $25,000. POM Investment Strategies LLC lifted its stake in shares of Visa by 970.0% in the second quarter. POM Investment Strategies LLC now owns 107 shares of the credit-card processor’s stock valued at $28,000 after buying an additional 97 shares during the period. Frank Rimerman Advisors LLC acquired a new stake in Visa during the fourth quarter worth about $33,000. Finally, TruNorth Capital Management LLC increased its stake in Visa by 211.9% during the second 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 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.