Visa (NYSE:V) Stock Price Down 0.3%

Visa Inc. (NYSE:V)’s stock price dropped 0.3% on Friday . The stock traded as low as $283.58 and last traded at $284.46. Approximately 2,033,107 shares changed hands during trading, a decline of 71% from the average daily volume of 7,061,789 shares. The stock had previously closed at $285.24.

Wall Street Analysts Forecast Growth

V has been the topic of several recent analyst reports. Bank of America raised their price objective on Visa from $279.00 to $308.00 and gave the company a “neutral” rating in a research note on Tuesday. William Blair raised Visa to a “strong-buy” rating in a report on Tuesday, July 23rd. Macquarie reissued an “outperform” rating and issued a $300.00 price objective on shares of Visa in a report on Wednesday, July 24th. Morgan Stanley reduced their target price on Visa from $326.00 to $322.00 and set an “overweight” rating for the company in a report on Wednesday, July 24th. Finally, JPMorgan Chase & Co. lifted their target price on Visa from $290.00 to $320.00 and gave the company an “overweight” rating in a report on Tuesday, August 20th. Six research analysts have rated the stock with a hold rating, twenty-four have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $310.22.

Visa Stock Up 0.2 %

The company has a quick ratio of 1.37, a current ratio of 1.37 and a debt-to-equity ratio of 0.54. The business has a 50-day moving average price of $270.27 and a 200-day moving average price of $273.46. The firm has a market capitalization of $520.62 billion, a PE ratio of 31.78, a price-to-earnings-growth ratio of 2.05 and a beta of 0.96.

Visa (NYSE:V) last released its quarterly earnings data on Tuesday, July 23rd. The credit-card processor reported $2.42 EPS for the quarter, meeting analysts’ consensus estimates of $2.42. Visa had a return on equity of 51.94% and a net margin of 54.72%. The firm had revenue of $8.90 billion for the quarter, compared to analysts’ expectations of $8.92 billion. During the same period in the prior year, the firm posted $2.16 earnings per share. The firm’s quarterly 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 fiscal year.

Visa Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, September 3rd. Investors of record on Friday, August 9th were issued a $0.52 dividend. The ex-dividend date of this dividend was Friday, August 9th. This represents a $2.08 dividend on an annualized basis and a yield of 0.73%. Visa’s dividend payout ratio (DPR) is presently 23.24%.

Insider Buying and Selling at Visa

In other news, CEO Ryan Mcinerney sold 8,620 shares of Visa stock in a transaction dated Tuesday, September 3rd. The stock was sold at an average price of $276.37, for a total transaction of $2,382,309.40. Following the sale, the chief executive officer now owns 538 shares in the company, valued at $148,687.06. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.19% of the stock is owned by insiders.

Institutional Investors Weigh In On Visa

Institutional investors have recently added to or reduced their stakes in the business. Heritage Wealth Management Inc. purchased a new stake in Visa in the 2nd quarter valued at approximately $721,000. Lazari Capital Management Inc. raised its holdings in Visa by 31.3% in the 2nd quarter. Lazari Capital Management Inc. now owns 5,536 shares of the credit-card processor’s stock valued at $1,453,000 after acquiring an additional 1,319 shares during the last quarter. Sanctuary Advisors LLC acquired a new position in Visa in the 2nd quarter valued at $87,426,000. Ghisallo Capital Management LLC acquired a new stake in shares of Visa during the 2nd quarter worth $38,027,000. Finally, Clear Rock Advisors LLC increased its holdings in shares of Visa by 3.6% during the 2nd quarter. Clear Rock Advisors LLC now owns 13,067 shares of the credit-card processor’s stock worth $3,430,000 after buying an additional 459 shares during the last quarter. Hedge funds and other 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.