Visa (NYSE:V) Stock Price Up 0.3% – Here’s What Happened

Visa Inc. (NYSE:V) rose 0.3% during trading on Wednesday . The company traded as high as $276.32 and last traded at $275.77. Approximately 929,023 shares traded hands during trading, a decline of 87% from the average daily volume of 7,140,427 shares. The stock had previously closed at $274.96.

Analyst Ratings Changes

V has been the topic of a number of research analyst reports. Bank of America increased their price target on Visa from $279.00 to $308.00 and gave the stock a “neutral” rating in a research report on Tuesday, September 17th. BNP Paribas upgraded Visa from a “neutral” rating to an “outperform” rating and set a $325.00 price objective on the stock in a research report on Tuesday, September 3rd. Piper Sandler decreased their price objective on Visa from $322.00 to $319.00 and set an “overweight” rating on the stock in a research report on Wednesday, July 24th. Monness Crespi & Hardt reiterated a “neutral” rating on shares of Visa in a research report on Tuesday, September 24th. Finally, Morgan Stanley reiterated an “overweight” rating and issued a $322.00 price objective on shares of Visa in a research report on Wednesday, September 25th. Six analysts have rated the stock with a hold rating, twenty-three have given a buy rating and two have given a strong buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $312.04.

Visa Price Performance

The company’s 50-day simple moving average is $273.48 and its 200-day simple moving average is $272.68. The company has a debt-to-equity ratio of 0.54, a current ratio of 1.37 and a quick ratio of 1.37. The stock has a market capitalization of $506.85 billion, a price-to-earnings ratio of 30.81, a P/E/G ratio of 1.92 and a beta of 0.96.

Visa (NYSE:V) last released 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. Visa had a net margin of 54.72% and a return on equity of 51.94%. The company had revenue of $8.90 billion during the quarter, compared to the consensus estimate of $8.92 billion. During the same period in the previous year, the business earned $2.16 earnings per share. The firm’s quarterly revenue was up 9.6% on a year-over-year basis. Research analysts forecast that Visa Inc. will post 9.92 earnings per share for the current fiscal year.

Visa Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, September 3rd. Shareholders of record on Friday, August 9th were given a dividend of $0.52 per share. The ex-dividend date 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 Visa news, CEO Ryan Mcinerney sold 8,620 shares of the business’s stock in a transaction that occurred on Tuesday, September 3rd. The shares were 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 directly owns 538 shares in the company, valued at $148,687.06. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Company insiders own 0.19% of the company’s stock.

Institutional Trading of Visa

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Jessup Wealth Management Inc raised its stake 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 valued at $1,410,000 after purchasing an additional 37 shares in the last quarter. Cordatus Wealth Management LLC lifted its position in Visa by 0.3% during the first quarter. Cordatus Wealth Management LLC now owns 10,793 shares of the credit-card processor’s stock valued at $3,012,000 after purchasing an additional 37 shares during the last quarter. Garden State Investment Advisory Services LLC lifted its position in Visa by 1.8% during 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 purchasing an additional 38 shares during the last quarter. Tlwm lifted its position in Visa by 0.7% during the second quarter. Tlwm now owns 5,241 shares of the credit-card processor’s stock valued at $1,376,000 after purchasing an additional 38 shares during the last quarter. Finally, Meridian Financial Partners LLC lifted its holdings in shares of Visa by 0.5% in the 2nd quarter. Meridian Financial Partners LLC now owns 8,160 shares of the credit-card processor’s stock worth $2,196,000 after acquiring an additional 38 shares during the last quarter. Institutional investors own 82.15% of the company’s stock.

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.