Visa (NYSE:V) Trading 1.1% Higher

Visa Inc. (NYSE:V)’s share price rose 1.1% during mid-day trading on Thursday . The stock traded as high as $273.24 and last traded at $272.69. Approximately 2,247,477 shares traded hands during trading, a decline of 69% from the average daily volume of 7,231,923 shares. The stock had previously closed at $269.63.

Wall Street Analysts Forecast Growth

V has been the topic of several research reports. Morgan Stanley reiterated an “overweight” rating and issued a $322.00 price objective on shares of Visa in a report on Wednesday. Monness Crespi & Hardt reiterated a “neutral” rating on shares of Visa in a research note on Tuesday. StockNews.com upgraded shares of Visa from a “hold” rating to a “buy” rating in a research report on Friday, August 9th. JPMorgan Chase & Co. lifted their target price on Visa from $290.00 to $320.00 and gave the stock an “overweight” rating in a report on Tuesday, August 20th. Finally, Citigroup cut their price target on Visa from $321.00 to $319.00 and set a “buy” rating for the company in a research note on Wednesday, July 24th. Six research analysts have rated the stock with a hold rating, twenty-three have assigned a buy rating and two have issued a strong buy rating to the stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $310.22.

Visa Price Performance

The stock has a market cap of $496.38 billion, a P/E ratio of 30.47, a price-to-earnings-growth ratio of 1.92 and a beta of 0.96. The business has a 50-day simple moving average of $271.07 and a 200 day simple moving average of $273.40. The company has a current ratio of 1.37, a quick ratio of 1.37 and a debt-to-equity ratio of 0.54.

Visa (NYSE:V) last posted 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 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 in the prior year, the firm posted $2.16 EPS. The company’s quarterly revenue was up 9.6% on a year-over-year basis. On average, analysts forecast that Visa Inc. will post 9.92 earnings per share for the current year.

Visa Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, September 3rd. Shareholders of record on Friday, August 9th were issued a dividend of $0.52 per share. The ex-dividend date was Friday, August 9th. This represents a $2.08 annualized dividend and a yield of 0.76%. Visa’s payout ratio is 23.24%.

Insider Transactions at Visa

In other news, CEO Ryan Mcinerney sold 8,620 shares of the business’s stock in a transaction that occurred on Tuesday, September 3rd. The stock was 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 owns 538 shares in the company, valued at approximately $148,687.06. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Company insiders own 0.19% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors and 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 lifted its holdings in Visa by 2.7% during the first quarter. Capital International Investors now owns 23,570,391 shares of the credit-card processor’s stock valued at $6,578,025,000 after purchasing an additional 626,618 shares during the last quarter. Capital World Investors boosted its position 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 worth $5,264,508,000 after purchasing an additional 968,008 shares during the period. Ameriprise Financial Inc. increased its stake in shares of Visa by 2.4% in the second quarter. Ameriprise Financial Inc. now owns 14,610,590 shares of the credit-card processor’s stock worth $3,833,981,000 after purchasing an additional 345,829 shares in the last quarter. Finally, Legal & General Group Plc raised its position in shares of Visa by 2.2% in 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 period. 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.