Visa (NYSE:V) Trading 0.2% Higher – Here’s Why

Visa Inc. (NYSE:V) was up 0.2% during trading on Friday . The stock traded as high as $285.09 and last traded at $283.82. Approximately 759,033 shares traded hands during trading, a decline of 89% from the average daily volume of 7,055,705 shares. The stock had previously closed at $283.22.

Analysts Set New Price Targets

V has been the topic of a number of research reports. Royal Bank of Canada cut their price objective on shares of Visa from $315.00 to $311.00 and set an “outperform” rating on the stock in a research note on Wednesday, July 24th. Bank of America lifted their price objective on Visa from $279.00 to $308.00 and gave the company a “neutral” rating in a research note on Tuesday, September 17th. Oppenheimer initiated coverage on Visa in a research note on Tuesday, October 1st. They issued an “outperform” rating and a $318.00 target price on the stock. William Blair upgraded Visa to a “strong-buy” rating in a research report on Tuesday, July 23rd. Finally, BNP Paribas upgraded Visa from a “neutral” rating to an “outperform” rating and set a $325.00 price objective on the stock in a research report on Tuesday, September 3rd. Four investment analysts have rated the stock with a hold rating, twenty-three have issued a buy rating and two have given a strong buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $314.19.

Visa Trading Down 0.5 %

The company has a 50 day moving average of $279.02 and a 200 day moving average of $273.17. The company has a debt-to-equity ratio of 0.54, a quick ratio of 1.37 and a current ratio of 1.37. The stock has a market capitalization of $515.27 billion, a price-to-earnings ratio of 31.48, a P/E/G ratio of 1.96 and a beta of 0.96.

Insider Activity

In related news, CEO Ryan Mcinerney sold 8,620 shares of the business’s stock in a transaction dated Tuesday, September 3rd. The shares were sold at an average price of $276.37, for a total transaction of $2,382,309.40. Following the transaction, the chief executive officer now directly owns 538 shares in the company, valued at approximately $148,687.06. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Company insiders own 0.19% of the company’s stock.

Hedge Funds Weigh In On Visa

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. POM Investment Strategies LLC grew its stake in shares of Visa by 970.0% in the 2nd quarter. POM Investment Strategies LLC now owns 107 shares of the credit-card processor’s stock valued at $28,000 after buying an additional 97 shares during the period. TruNorth Capital Management LLC grew its position in Visa by 211.9% in the second quarter. TruNorth Capital Management LLC now owns 131 shares of the credit-card processor’s stock worth $34,000 after acquiring an additional 89 shares during the period. Abich Financial Wealth Management LLC increased its stake in Visa by 52.9% during the first quarter. Abich Financial Wealth Management LLC now owns 133 shares of the credit-card processor’s stock worth $37,000 after acquiring an additional 46 shares during the last quarter. CarsonAllaria Wealth Management Ltd. purchased a new stake in Visa in the second quarter valued at $35,000. Finally, Bbjs Financial Advisors LLC acquired a new position in shares of Visa in the 2nd quarter valued at $35,000. Institutional investors and hedge funds 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.