Visa (NYSE:V) Shares Down 1.5%

Visa Inc. (NYSE:V) fell 1.5% on Thursday . The stock traded as low as $267.67 and last traded at $269.42. 2,971,121 shares were traded during mid-day trading, a decline of 56% from the average session volume of 6,689,909 shares. The stock had previously closed at $273.60.

Analysts Set New Price Targets

A number of research firms recently weighed in on V. Oppenheimer increased their price objective on shares of Visa from $297.00 to $299.00 and gave the stock an “outperform” rating in a report on Wednesday, April 24th. Evercore ISI reduced their price objective on Visa from $335.00 to $330.00 and set an “outperform” rating for the company in a research report on Tuesday. Citigroup raised their target price on Visa from $314.00 to $321.00 and gave the company a “buy” rating in a research report on Wednesday, April 24th. William Blair reissued an “outperform” rating on shares of Visa in a research note on Wednesday, April 24th. Finally, UBS Group lifted their price objective on shares of Visa from $315.00 to $325.00 and gave the company a “buy” rating in a research note on Wednesday, April 24th. Five analysts have rated the stock with a hold rating and twenty-one have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $303.56.

Visa Trading Down 1.6 %

The business’s 50-day simple moving average is $273.88 and its 200-day simple moving average is $273.41. The company has a current ratio of 1.40, a quick ratio of 1.40 and a debt-to-equity ratio of 0.53. The company has a market cap of $479.73 billion, a PE ratio of 29.31, a P/E/G ratio of 1.82 and a beta of 0.97.

Visa (NYSE:V) last announced its quarterly earnings results on Tuesday, April 23rd. The credit-card processor reported $2.51 EPS for the quarter, beating the consensus estimate of $2.43 by $0.08. The business had revenue of $8.78 billion during the quarter, compared to analysts’ expectations of $8.62 billion. Visa had a return on equity of 51.23% and a net margin of 53.87%. The firm’s quarterly revenue was up 9.9% compared to the same quarter last year. During the same quarter in the previous year, the business posted $2.09 EPS. As a group, analysts expect that Visa Inc. will post 9.94 EPS for the current fiscal year.

Visa Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Monday, June 3rd. Investors of record on Friday, May 17th were paid a $0.52 dividend. This represents a $2.08 annualized dividend and a dividend yield of 0.79%. The ex-dividend date was Thursday, May 16th. Visa’s payout ratio is presently 23.24%.

Insider Buying and Selling

In related news, Director Lloyd Carney sold 909 shares of the firm’s stock in a transaction that occurred on Friday, April 26th. The stock was sold at an average price of $275.55, for a total value of $250,474.95. Following the transaction, the director now directly owns 2,591 shares of the company’s stock, valued at approximately $713,950.05. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. In related news, Director Lloyd Carney sold 909 shares of the company’s stock in a transaction on Friday, April 26th. The shares were sold at an average price of $275.55, for a total transaction of $250,474.95. Following the completion of the sale, the director now directly owns 2,591 shares of the company’s stock, valued at approximately $713,950.05. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, insider Paul D. Fabara sold 25,293 shares of the business’s stock in a transaction on Wednesday, May 15th. The stock was sold at an average price of $277.15, for a total transaction of $7,009,954.95. Following the transaction, the insider now directly owns 17,894 shares of the company’s stock, valued at approximately $4,959,322.10. The disclosure for this sale can be found here. Over the last three months, insiders sold 34,402 shares of company stock worth $9,559,382. Corporate insiders own 0.19% of the company’s stock.

Institutional Investors Weigh In On Visa

Several hedge funds have recently modified their holdings of V. Westend Capital Management LLC acquired a new stake in shares of Visa during the 1st quarter worth approximately $25,000. Livelsberger Financial Advisory bought a new position in Visa in the fourth quarter worth $25,000. O Brien Wealth Partners LLC acquired a new stake in Visa during the fourth quarter worth $32,000. Frank Rimerman Advisors LLC bought a new stake in Visa in the 4th quarter valued at $33,000. Finally, Abich Financial Wealth Management LLC raised its stake in shares of Visa by 52.9% in the 1st quarter. Abich Financial Wealth Management LLC now owns 133 shares of the credit-card processor’s stock valued at $37,000 after buying an additional 46 shares in the last quarter. 82.15% of the stock is 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.