Visa (NYSE:V) Trading Up 2.1%

Visa Inc. (NYSE:V)’s share price traded up 2.1% on Friday . The stock traded as high as $277.98 and last traded at $277.44. 2,228,061 shares changed hands during mid-day trading, a decline of 69% from the average session volume of 7,242,844 shares. The stock had previously closed at $271.69.

Analyst Upgrades and Downgrades

V has been the topic of a number of research analyst reports. JPMorgan Chase & Co. lifted their price target on Visa from $290.00 to $320.00 and gave the company an “overweight” rating in a report on Tuesday, August 20th. Compass Point assumed coverage on Visa in a research note on Wednesday, September 4th. They set a “buy” rating and a $319.00 target price on the stock. Evercore ISI reduced their price target on shares of Visa from $335.00 to $330.00 and set an “outperform” rating for the company in a research report on Tuesday, June 25th. The Goldman Sachs Group reaffirmed a “buy” rating and set a $317.00 price objective on shares of Visa in a research report on Thursday, September 12th. Finally, William Blair upgraded shares of Visa to a “strong-buy” rating in a research report on Tuesday, July 23rd. Six research analysts have rated the stock with a hold rating, twenty-three have issued a buy rating and two have assigned a strong buy rating to the stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $310.22.

Visa Price Performance

The company has a current ratio of 1.37, a quick ratio of 1.37 and a debt-to-equity ratio of 0.54. The stock has a market capitalization of $505.19 billion, a P/E ratio of 31.00, a PEG ratio of 1.92 and a beta of 0.96. The company has a fifty day simple moving average of $271.12 and a two-hundred day simple moving average of $273.39.

Visa (NYSE:V) last posted its quarterly earnings results on Tuesday, July 23rd. The credit-card processor reported $2.42 earnings per share for the quarter, hitting analysts’ consensus estimates of $2.42. Visa had a net margin of 54.72% and a return on equity of 51.94%. The business had revenue of $8.90 billion during the quarter, compared to the consensus estimate of $8.92 billion. During the same period in the previous year, the firm posted $2.16 earnings per share. Visa’s revenue for the quarter was up 9.6% compared to the same quarter last year. Sell-side analysts expect that Visa Inc. will post 9.92 EPS for the current fiscal year.

Visa Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Tuesday, September 3rd. Stockholders of record on Friday, August 9th were given a $0.52 dividend. The ex-dividend date of this dividend was Friday, August 9th. This represents a $2.08 annualized dividend and a dividend yield of 0.75%. Visa’s dividend payout ratio is currently 23.24%.

Insider Buying and Selling

In other Visa news, CEO Ryan Mcinerney sold 8,620 shares of the stock in a transaction dated 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 of the company’s stock, valued at $148,687.06. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. 0.19% of the stock is owned by insiders.

Institutional Investors Weigh In On Visa

Several hedge funds have recently bought and sold shares of the company. Livelsberger Financial Advisory acquired a new stake in Visa during the 4th quarter worth $25,000. Westend Capital Management LLC bought a new stake in shares of Visa in the first quarter worth about $25,000. POM Investment Strategies LLC raised its position in shares of Visa by 970.0% during the second quarter. POM Investment Strategies LLC now owns 107 shares of the credit-card processor’s stock worth $28,000 after purchasing an additional 97 shares during the period. Frank Rimerman Advisors LLC bought a new position in shares of Visa during the 4th quarter valued at about $33,000. Finally, TruNorth Capital Management LLC grew its position in shares of Visa by 211.9% in the 2nd quarter. TruNorth Capital Management LLC now owns 131 shares of the credit-card processor’s stock valued at $34,000 after purchasing an additional 89 shares during the period. 82.15% of the stock is currently owned by institutional investors and hedge funds.

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.