Visa (NYSE:V) Trading 3.5% Higher on Strong Earnings

Shares of Visa Inc. (NYSE:V) were up 3.5% on Wednesday following a stronger than expected earnings report. The stock traded as high as $295.78 and last traded at $291.74. Approximately 3,224,090 shares changed hands during mid-day trading, a decline of 54% from the average daily volume of 7,044,292 shares. The stock had previously closed at $281.88.

The credit-card processor reported $2.71 EPS for the quarter, beating analysts’ consensus estimates of $2.58 by $0.13. The business had revenue of $9.62 billion during the quarter, compared to analysts’ expectations of $9.49 billion. Visa had a net margin of 54.72% and a return on equity of 51.94%. The company’s quarterly revenue was up 11.7% compared to the same quarter last year. During the same period in the prior year, the business earned $2.33 earnings per share.

Analysts Set New Price Targets

A number of research analysts recently commented on V shares. Susquehanna upped their price objective on Visa from $326.00 to $339.00 and gave the company a “positive” rating in a report on Wednesday. Monness Crespi & Hardt reaffirmed a “neutral” rating on shares of Visa in a research note on Tuesday, September 24th. TD Cowen increased their price target on Visa from $318.00 to $325.00 and gave the stock a “buy” rating in a report on Wednesday. Deutsche Bank Aktiengesellschaft boosted their price objective on shares of Visa from $300.00 to $340.00 and gave the company a “buy” rating in a report on Wednesday. Finally, Macquarie increased their target price on shares of Visa from $300.00 to $335.00 and gave the stock an “outperform” rating in a research note on Wednesday. Four equities research analysts have rated the stock with a hold rating, twenty-four have assigned a buy rating and two have given a strong buy rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $320.07.

Insiders Place Their Bets

In related news, CEO Ryan Mcinerney sold 8,620 shares of the business’s stock in a transaction dated 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 transaction, the chief executive officer now owns 538 shares in the company, valued at $148,687.06. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. 0.19% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Visa

A number of hedge funds have recently added to or reduced their stakes in the company. Maia Wealth LLC lifted its holdings in Visa by 11.5% in the third quarter. Maia Wealth LLC now owns 9,109 shares of the credit-card processor’s stock valued at $2,580,000 after acquiring an additional 943 shares during the period. Umpqua Bank increased its holdings in shares of Visa by 2.2% in the 3rd quarter. Umpqua Bank now owns 9,610 shares of the credit-card processor’s stock valued at $2,642,000 after purchasing an additional 208 shares in the last quarter. Foster & Motley Inc. increased its holdings in shares of Visa by 81.3% in the 3rd quarter. Foster & Motley Inc. now owns 10,301 shares of the credit-card processor’s stock valued at $2,832,000 after purchasing an additional 4,620 shares in the last quarter. Harvest Portfolios Group Inc. lifted its stake in shares of Visa by 4.7% in the third quarter. Harvest Portfolios Group Inc. now owns 69,056 shares of the credit-card processor’s stock valued at $18,987,000 after purchasing an additional 3,071 shares during the period. Finally, Radnor Capital Management LLC boosted its holdings in Visa by 11.1% during the third quarter. Radnor Capital Management LLC now owns 11,120 shares of the credit-card processor’s stock worth $3,057,000 after buying an additional 1,115 shares in the last quarter. Institutional investors and hedge funds own 82.15% of the company’s stock.

Visa Stock Up 2.9 %

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 company has a market capitalization of $530.68 billion, a price-to-earnings ratio of 32.42, a price-to-earnings-growth ratio of 1.95 and a beta of 0.96. The firm’s 50-day simple moving average is $280.09 and its two-hundred day simple moving average is $273.38.

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.