Visa (NYSE:V) Trading Down 1%

Shares of Visa Inc. (NYSE:V) dropped 1% on Wednesday . The company traded as low as $288.74 and last traded at $288.75. Approximately 681,940 shares changed hands during trading, a decline of 90% from the average daily volume of 7,042,347 shares. The stock had previously closed at $291.56.

Analysts Set New Price Targets

A number of brokerages recently issued reports on V. StockNews.com raised Visa from a “hold” rating to a “buy” rating in a report on Friday, August 9th. TD Cowen dropped their price target on Visa from $320.00 to $318.00 and set a “buy” rating for the company in a research report on Wednesday, July 24th. BNP Paribas raised Visa from a “neutral” rating to an “outperform” rating and set a $325.00 price objective for the company in a research report on Tuesday, September 3rd. Bank of America increased their price target on shares of Visa from $279.00 to $308.00 and gave the stock a “neutral” rating in a research note on Tuesday. Finally, JPMorgan Chase & Co. increased their target price on shares of Visa from $290.00 to $320.00 and gave the stock an “overweight” rating in a research report on Tuesday, August 20th. Six equities research analysts have rated the stock with a hold rating, twenty-four have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $310.22.

Visa Stock Performance

The company has a market capitalization of $528.54 billion, a price-to-earnings ratio of 32.26, a P/E/G ratio of 2.05 and a beta of 0.96. The company has a 50 day moving average price of $269.30 and a 200 day moving average price of $273.27. The company has a debt-to-equity ratio of 0.54, a quick ratio of 1.37 and a current ratio of 1.37.

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

Visa Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, September 3rd. Investors 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 dividend on an annualized basis and a dividend yield of 0.72%. Visa’s dividend payout ratio (DPR) is presently 23.24%.

Insiders Place Their Bets

In other news, CEO Ryan Mcinerney sold 8,620 shares of the company’s 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 completion of the transaction, the chief executive officer now directly owns 538 shares in the company, valued at approximately $148,687.06. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Corporate insiders own 0.19% of the company’s stock.

Institutional Trading of Visa

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. National Bank of Canada FI grew its position in shares of Visa by 787.1% in the 1st quarter. National Bank of Canada FI now owns 4,619,881 shares of the credit-card processor’s stock worth $1,296,820,000 after buying an additional 4,099,122 shares during the period. Swedbank AB purchased a new stake in shares of Visa in the first quarter worth $511,321,000. GQG Partners LLC increased its holdings in shares of Visa by 40.1% during the first quarter. GQG Partners LLC now owns 5,990,634 shares of the credit-card processor’s stock valued at $1,671,866,000 after acquiring an additional 1,715,686 shares in the last quarter. Wulff Hansen & CO. grew its position in Visa by 26,951.9% during the 2nd quarter. Wulff Hansen & CO. now owns 1,587,944 shares of the credit-card processor’s stock valued at $416,788,000 after purchasing an additional 1,582,074 shares during the last quarter. Finally, Public Employees Retirement Association of Colorado grew its holdings in shares of Visa by 14,306.3% during the fourth quarter. Public Employees Retirement Association of Colorado now owns 1,500,270 shares of the credit-card processor’s stock valued at $390,595,000 after buying an additional 1,489,856 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.