Visa (NYSE:V) Trading 0.6% Higher

Visa Inc. (NYSE:V)’s share price was up 0.6% on Tuesday . The stock traded as high as $277.35 and last traded at $276.58. Approximately 1,607,359 shares changed hands during mid-day trading, a decline of 78% from the average daily volume of 7,230,322 shares. The stock had previously closed at $274.95.

Analyst Ratings Changes

Several equities research analysts have issued reports on the company. Morgan Stanley restated an “overweight” rating and issued a $322.00 target price on shares of Visa in a research report on Wednesday, September 25th. Royal Bank of Canada reduced their price objective on shares of Visa from $315.00 to $311.00 and set an “outperform” rating on the stock in a report on Wednesday, July 24th. Piper Sandler lowered their target price on shares of Visa from $322.00 to $319.00 and set an “overweight” rating for the company in a research note on Wednesday, July 24th. TD Cowen reduced their price target on shares of Visa from $320.00 to $318.00 and set a “buy” rating on the stock in a research note on Wednesday, July 24th. Finally, Citigroup lowered their price objective on shares of Visa from $321.00 to $319.00 and set a “buy” rating for the company in a research report on Wednesday, July 24th. Six 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. Based on data from MarketBeat, Visa currently has an average rating of “Moderate Buy” and an average price target of $310.93.

Visa Trading Up 1.4 %

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 firm has a market capitalization of $509.74 billion, a price-to-earnings ratio of 30.90, a PEG ratio of 1.94 and a beta of 0.96. The company has a 50-day moving average price of $271.45 and a 200-day moving average price of $273.11.

Visa (NYSE:V) last released its quarterly earnings data on Tuesday, July 23rd. The credit-card processor reported $2.42 earnings per share for the quarter, hitting analysts’ consensus estimates of $2.42. The company had revenue of $8.90 billion for the quarter, compared to analysts’ expectations of $8.92 billion. Visa had a net margin of 54.72% and a return on equity of 51.94%. The firm’s revenue for the quarter was up 9.6% on a year-over-year basis. During the same quarter last year, the company earned $2.16 earnings per share. As a group, research analysts forecast that Visa Inc. will post 9.92 EPS for the current fiscal year.

Visa Announces Dividend

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

Insider Activity at Visa

In other news, CEO Ryan Mcinerney sold 8,620 shares of the firm’s stock in a transaction that occurred on 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 $148,687.06. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Insiders own 0.19% of the company’s stock.

Hedge Funds Weigh In On Visa

A number of hedge funds and other institutional investors have recently made changes to their positions in V. Livelsberger Financial Advisory acquired a new stake in shares of Visa in the 4th quarter worth $25,000. Westend Capital Management LLC acquired a new stake in Visa in the first quarter valued at about $25,000. POM Investment Strategies LLC boosted its holdings in 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 purchasing an additional 97 shares in the last quarter. Frank Rimerman Advisors LLC acquired a new position in Visa during the 4th quarter worth approximately $33,000. Finally, TruNorth Capital Management LLC raised its stake in shares of Visa by 211.9% during the 2nd quarter. TruNorth Capital Management LLC now owns 131 shares of the credit-card processor’s stock worth $34,000 after buying an additional 89 shares in the last quarter. Hedge funds and other institutional investors 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.