Visa (NYSE:V) Stock Price Down 3.5% Following Insider Selling

Visa Inc. (NYSE:V) was down 3.5% during mid-day trading on Friday after an insider sold shares in the company. The stock traded as low as $324.41 and last traded at $327.65. Approximately 3,247,189 shares changed hands during mid-day trading, a decline of 55% from the average daily volume of 7,159,142 shares. The stock had previously closed at $339.39.

Specifically, CEO Ryan Mcinerney sold 8,620 shares of the business’s stock in a transaction that occurred on Tuesday, April 1st. The stock was sold at an average price of $350.44, for a total transaction of $3,020,792.80. Following the completion of the sale, the chief executive officer now owns 537 shares in the company, valued at $188,186.28. The trade was a 94.14 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink.

Wall Street Analysts Forecast Growth

Several research analysts recently issued reports on the company. Oppenheimer reaffirmed an “outperform” rating on shares of Visa in a research report on Thursday, February 13th. Keefe, Bruyette & Woods reaffirmed a “hold” rating on shares of Visa in a report on Thursday, February 13th. Morgan Stanley upped their price objective on shares of Visa from $326.00 to $371.00 and gave the company an “overweight” rating in a report on Wednesday, December 18th. Citigroup reissued a “neutral” rating on shares of Visa in a report on Thursday, February 13th. Finally, Piper Sandler reiterated an “overweight” rating and set a $383.00 price target (up from $368.00) on shares of Visa in a research report on Friday, January 31st. Five investment analysts have rated the stock with a hold rating, twenty-three have given a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $355.84.

Visa Trading Down 7.6 %

The company has a current ratio of 1.12, a quick ratio of 1.12 and a debt-to-equity ratio of 0.45. The company has a 50-day simple moving average of $345.02 and a 200 day simple moving average of $316.89. The firm has a market cap of $582.34 billion, a PE ratio of 31.60, a price-to-earnings-growth ratio of 2.33 and a beta of 0.94.

Visa (NYSE:V) last issued its quarterly earnings results on Thursday, January 30th. The credit-card processor reported $2.75 earnings per share for the quarter, beating analysts’ consensus estimates of $2.66 by $0.09. Visa had a net margin of 54.27% and a return on equity of 54.79%. As a group, sell-side analysts forecast that Visa Inc. will post 11.3 earnings per share for the current fiscal year.

Visa Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, March 3rd. Stockholders of record on Tuesday, February 11th were issued a dividend of $0.59 per share. This represents a $2.36 annualized dividend and a dividend yield of 0.75%. The ex-dividend date was Tuesday, February 11th. Visa’s dividend payout ratio is currently 23.79%.

Hedge Funds Weigh In On Visa

A number of institutional investors have recently added to or reduced their stakes in V. Decker Retirement Planning Inc. acquired a new stake in Visa during the fourth quarter worth about $26,000. Bradley & Co. Private Wealth Management LLC acquired a new position in Visa in the fourth quarter valued at about $27,000. POM Investment Strategies LLC boosted its position in shares of Visa by 48.5% during the 4th quarter. POM Investment Strategies LLC now owns 98 shares of the credit-card processor’s stock worth $31,000 after purchasing an additional 32 shares during the period. Modus Advisors LLC purchased a new position in shares of Visa during the fourth quarter worth $32,000. Finally, Compass Planning Associates Inc acquired a new position in Visa in the 4th quarter valued at about $32,000. 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.