Visa (NYSE:V) Trading 0.4% Higher

Shares of Visa Inc. (NYSE:V) shot up 0.4% on Friday . The stock traded as high as $268.60 and last traded at $267.59. 2,224,251 shares changed hands during mid-day trading, a decline of 67% from the average session volume of 6,713,314 shares. The stock had previously closed at $266.59.

Analyst Ratings Changes

A number of analysts have recently weighed in on the stock. Piper Sandler assumed coverage on shares of Visa in a report on Monday, May 13th. They set an “overweight” rating and a $322.00 target price for the company. William Blair reissued an “outperform” rating on shares of Visa in a research note on Wednesday, April 24th. TD Cowen initiated coverage on Visa in a report on Thursday, April 11th. They set a “buy” rating and a $320.00 target price for the company. Wedbush lifted their price target on shares of Visa from $280.00 to $300.00 and gave the company an “outperform” rating in a report on Wednesday, April 24th. Finally, Robert W. Baird boosted their price objective on shares of Visa from $314.00 to $320.00 and gave the company an “outperform” rating in a research report on Wednesday, April 17th. Five research analysts have rated the stock with a hold rating and twenty-one have issued a buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $303.56.

Visa Price Performance

The stock has a market capitalization of $480.04 billion, a PE ratio of 29.33, a PEG ratio of 1.82 and a beta of 0.97. The firm’s fifty day moving average price is $273.88 and its two-hundred day moving average price is $273.50. The company has a quick ratio of 1.40, a current ratio of 1.40 and a debt-to-equity ratio of 0.53.

Visa (NYSE:V) last announced its earnings results on Tuesday, April 23rd. The credit-card processor reported $2.51 earnings per share for the quarter, beating analysts’ consensus estimates of $2.43 by $0.08. The business had revenue of $8.78 billion during the quarter, compared to analyst estimates of $8.62 billion. Visa had a net margin of 53.87% and a return on equity of 51.23%. The company’s quarterly revenue was up 9.9% compared to the same quarter last year. During the same period in the previous year, the business earned $2.09 EPS. On average, equities analysts predict that Visa Inc. will post 9.94 earnings per share for the current year.

Visa Announces Dividend

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

Insider Buying and Selling

In related news, Director Lloyd Carney sold 909 shares of the business’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 transaction of $250,474.95. Following the completion of the transaction, the director now directly owns 2,591 shares in the company, valued at approximately $713,950.05. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. In other news, CEO Ryan Mcinerney sold 8,200 shares of the company’s stock in a transaction dated Monday, April 1st. The stock was sold at an average price of $280.36, for a total value of $2,298,952.00. Following the completion of the transaction, the chief executive officer now owns 538 shares of the company’s stock, valued at $150,833.68. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, Director Lloyd Carney sold 909 shares of Visa stock in a transaction that occurred on Friday, April 26th. The shares were sold at an average price of $275.55, for a total value of $250,474.95. Following the sale, the director now directly owns 2,591 shares in the company, valued at approximately $713,950.05. The disclosure for this sale can be found here. In the last three months, insiders have sold 34,402 shares of company stock valued at $9,559,382. 0.19% of the stock is owned by company insiders.

Hedge Funds Weigh In On Visa

Hedge funds have recently modified their holdings of the stock. Vanguard Group Inc. increased its holdings in shares of 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 purchasing an additional 788,908 shares during the last quarter. Capital International Investors increased its position in Visa by 2.7% in the first quarter. Capital International Investors now owns 23,570,391 shares of the credit-card processor’s stock worth $6,578,025,000 after purchasing an additional 626,618 shares during the last quarter. Capital World Investors raised its stake in Visa by 5.4% during the first quarter. Capital World Investors now owns 18,863,796 shares of the credit-card processor’s stock valued at $5,264,508,000 after purchasing an additional 968,008 shares in the last quarter. Norges Bank bought a new position in Visa during the fourth quarter valued at $3,895,015,000. Finally, Ameriprise Financial Inc. grew its stake in shares of Visa by 2.7% in the 3rd quarter. Ameriprise Financial Inc. now owns 14,229,004 shares of the credit-card processor’s stock worth $3,272,846,000 after buying an additional 374,489 shares in the last quarter. Hedge funds and other institutional investors own 82.15% of the company’s stock.

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.