Visa (NYSE:V) Trading 1.5% Higher – What’s Next?

Visa Inc. (NYSE:V)’s share price rose 1.5% during mid-day trading on Wednesday . The stock traded as high as $283.48 and last traded at $283.38. Approximately 1,404,772 shares traded hands during mid-day trading, a decline of 80% from the average daily volume of 7,077,943 shares. The stock had previously closed at $279.29.

Analyst Ratings Changes

Several research firms recently commented on V. Oppenheimer initiated coverage on shares of Visa in a research report on Tuesday, October 1st. They set an “outperform” rating and a $318.00 target price on the stock. BMO Capital Markets lifted their price target on shares of Visa from $300.00 to $310.00 and gave the stock an “outperform” rating in a report on Thursday, October 3rd. Compass Point began coverage on Visa in a report on Wednesday, September 4th. They issued a “buy” rating and a $319.00 price objective for the company. Keefe, Bruyette & Woods raised Visa from a “moderate buy” rating to a “strong-buy” rating in a report on Tuesday, September 24th. Finally, William Blair raised Visa to a “strong-buy” rating in a research note on Tuesday, July 23rd. Four analysts have rated the stock with a hold rating, twenty-three have assigned a buy rating and two have given a strong buy rating to the company. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $314.19.

Visa Trading Up 0.1 %

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 firm has a market capitalization of $531.53 billion, a P/E ratio of 32.33, a PEG ratio of 1.94 and a beta of 0.96. The firm has a 50 day simple moving average of $276.30 and a two-hundred day simple moving average of $272.86.

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 for the quarter, compared to analyst estimates of $8.92 billion. During the same period last year, the firm earned $2.16 earnings per share. The firm’s revenue was up 9.6% on a year-over-year basis. Equities research analysts forecast that Visa Inc. will post 9.92 earnings per share for the current year.

Visa Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, September 3rd. Stockholders of record on Friday, August 9th were issued a $0.52 dividend. This represents a $2.08 annualized dividend and a dividend yield of 0.72%. The ex-dividend date was Friday, August 9th. Visa’s dividend payout ratio is presently 23.24%.

Insider Buying and Selling

In related news, CEO Ryan Mcinerney sold 8,620 shares of the business’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 trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.19% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Visa

A number of hedge funds have recently modified their holdings of the stock. Vanguard Group Inc. increased its position in Visa by 0.6% in the first quarter. Vanguard Group Inc. now owns 142,202,830 shares of the credit-card processor’s stock worth $39,685,966,000 after buying an additional 788,908 shares during the last quarter. Capital International Investors grew its stake in shares of Visa by 2.7% during the 1st quarter. Capital International Investors now owns 23,570,391 shares of the credit-card processor’s stock worth $6,578,025,000 after acquiring an additional 626,618 shares during the period. Capital World Investors increased its holdings in Visa by 5.4% in the 1st quarter. Capital World Investors now owns 18,863,796 shares of the credit-card processor’s stock worth $5,264,508,000 after acquiring an additional 968,008 shares during the last quarter. Ameriprise Financial Inc. raised its stake in Visa by 2.4% in the 2nd quarter. Ameriprise Financial Inc. now owns 14,610,590 shares of the credit-card processor’s stock valued at $3,833,981,000 after acquiring an additional 345,829 shares during the period. Finally, Legal & General Group Plc lifted its holdings in Visa by 2.2% during the second quarter. Legal & General Group Plc now owns 14,416,394 shares of the credit-card processor’s stock valued at $3,783,857,000 after purchasing an additional 312,286 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.