Visa (NYSE:V) Reaches New 12-Month High – Here’s What Happened

Visa Inc. (NYSE:V)’s share price hit a new 52-week high during mid-day trading on Monday . The stock traded as high as $313.66 and last traded at $312.85, with a volume of 30245 shares. The stock had previously closed at $309.92.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently commented on V shares. Royal Bank of Canada increased their price target on shares of Visa from $311.00 to $322.00 and gave the company an “outperform” rating in a report on Wednesday, October 30th. StockNews.com raised Visa from a “hold” rating to a “buy” rating in a report on Friday, August 9th. BNP Paribas raised Visa from a “neutral” rating to an “outperform” rating and set a $325.00 price target on the stock in a report on Tuesday, September 3rd. Bank of America lifted their price objective on Visa from $279.00 to $308.00 and gave the stock a “neutral” rating in a report on Tuesday, September 17th. Finally, Piper Sandler boosted their target price on Visa from $319.00 to $322.00 and gave the stock an “overweight” rating in a research report on Wednesday, October 30th. Four analysts have rated the stock with a hold rating, twenty-four have issued a buy rating and two have issued a strong buy rating to the company. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $321.74.

Visa Trading Down 0.4 %

The company has a debt-to-equity ratio of 0.55, a current ratio of 1.28 and a quick ratio of 1.28. The stock has a market cap of $580.88 billion, a P/E ratio of 32.05, a price-to-earnings-growth ratio of 2.10 and a beta of 0.95. The stock’s 50-day moving average is $290.37 and its two-hundred day moving average is $277.80.

Visa (NYSE:V) last released its quarterly earnings results on Tuesday, October 29th. The credit-card processor reported $2.71 earnings per share for the quarter, beating the consensus estimate of $2.58 by $0.13. Visa had a return on equity of 53.16% and a net margin of 54.96%. The business had revenue of $9.62 billion during the quarter, compared to analysts’ expectations of $9.49 billion. During the same quarter last year, the business posted $2.33 EPS. The firm’s revenue for the quarter was up 11.7% compared to the same quarter last year. Equities research analysts anticipate that Visa Inc. will post 11.19 EPS for the current year.

Visa Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, December 2nd. Stockholders of record on Tuesday, November 12th will be given a dividend of $0.59 per share. This represents a $2.36 annualized dividend and a dividend yield of 0.76%. This is a boost from Visa’s previous quarterly dividend of $0.52. The ex-dividend date is Tuesday, November 12th. Visa’s dividend payout ratio is currently 24.25%.

Insider Activity at Visa

In related news, CEO Ryan Mcinerney sold 8,620 shares of the 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 sale, the chief executive officer now directly owns 538 shares of the company’s stock, valued at $148,687.06. This represents a 94.13 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Paul D. Fabara sold 2,171 shares of the stock in a transaction that occurred on Friday, November 22nd. The stock was sold at an average price of $307.97, for a total value of $668,602.87. Following the completion of the sale, the insider now owns 17,894 shares in the company, valued at approximately $5,510,815.18. The trade was a 10.82 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.19% of the stock is owned by insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in V. Unionview LLC grew its stake in Visa by 1.5% during the 3rd quarter. Unionview LLC now owns 2,296 shares of the credit-card processor’s stock valued at $631,000 after purchasing an additional 33 shares during the last quarter. St. Louis Trust Co lifted its holdings in shares of Visa by 0.9% during the third quarter. St. Louis Trust Co now owns 3,885 shares of the credit-card processor’s stock worth $1,068,000 after purchasing an additional 34 shares during the period. FWG Holdings LLC boosted its position in Visa by 1.1% in the third quarter. FWG Holdings LLC now owns 3,168 shares of the credit-card processor’s stock valued at $900,000 after buying an additional 34 shares during the last quarter. Menard Financial Group LLC increased its holdings in Visa by 0.6% in the 3rd quarter. Menard Financial Group LLC now owns 6,217 shares of the credit-card processor’s stock worth $1,709,000 after buying an additional 35 shares during the period. Finally, KMG Fiduciary Partners LLC increased its holdings in Visa by 0.3% in the 3rd quarter. KMG Fiduciary Partners LLC now owns 13,933 shares of the credit-card processor’s stock worth $3,831,000 after buying an additional 37 shares during the period. 82.15% of the stock is currently owned by institutional investors.

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.