Visa (NYSE:V) Stock Price Down 0.1%

Visa Inc. (NYSE:V) shares dropped 0.1% during mid-day trading on Thursday . The company traded as low as $275.84 and last traded at $276.74. Approximately 652,169 shares traded hands during trading, a decline of 91% from the average daily volume of 7,204,705 shares. The stock had previously closed at $277.00.

Wall Street Analyst Weigh In

V has been the subject of several research analyst reports. William Blair raised shares of Visa to a “strong-buy” rating in a research note on Tuesday, July 23rd. Piper Sandler reduced their target price on shares of Visa from $322.00 to $319.00 and set an “overweight” rating for the company in a research report on Wednesday, July 24th. StockNews.com upgraded shares of Visa from a “hold” rating to a “buy” rating in a research note on Friday, August 9th. Morgan Stanley reiterated an “overweight” rating and set a $322.00 price target on shares of Visa in a research report on Wednesday, September 25th. Finally, Macquarie restated an “outperform” rating and issued a $300.00 price objective on shares of Visa in a research report on Friday, September 27th. Six equities research analysts have rated the stock with a hold rating, twenty-three have assigned a buy rating and two have given a strong buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $312.04.

Visa Price Performance

The company has a market capitalization of $506.03 billion, a price-to-earnings ratio of 30.92, a P/E/G ratio of 1.94 and a beta of 0.96. The firm has a 50-day simple moving average of $272.17 and a two-hundred day simple moving average of $273.10. 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 announced its quarterly earnings results on Tuesday, July 23rd. The credit-card processor reported $2.42 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $2.42. The company 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 for the quarter was up 9.6% on a year-over-year basis. During the same period in the previous year, the company posted $2.16 earnings per share. As a group, analysts predict that Visa Inc. will post 9.92 earnings per share for the current fiscal year.

Visa Dividend Announcement

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

Insider Buying and Selling at Visa

In other Visa news, CEO Ryan Mcinerney sold 8,620 shares of the stock in a transaction that occurred on Tuesday, September 3rd. The stock was 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 owns 538 shares in the company, valued at $148,687.06. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. 0.19% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Visa

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. J. W. Coons Advisors LLC boosted its stake in Visa by 1.2% during the 4th quarter. J. W. Coons Advisors LLC now owns 9,446 shares of the credit-card processor’s stock worth $2,459,000 after purchasing an additional 108 shares during the last quarter. Capital Research Global Investors boosted its position in Visa by 139.4% during the fourth quarter. Capital Research Global Investors now owns 2,185,077 shares of the credit-card processor’s stock worth $568,885,000 after acquiring an additional 1,272,211 shares during the last quarter. Pinebridge Investments L.P. grew its stake in Visa by 28.5% during the 4th quarter. Pinebridge Investments L.P. now owns 544,673 shares of the credit-card processor’s stock valued at $141,813,000 after acquiring an additional 120,799 shares in the last quarter. Exencial Wealth Advisors LLC raised its holdings in Visa by 3.1% in the 4th quarter. Exencial Wealth Advisors LLC now owns 96,168 shares of the credit-card processor’s stock valued at $25,037,000 after acquiring an additional 2,916 shares during the last quarter. Finally, Pinnacle West Asset Management Inc. boosted its holdings in shares of Visa by 4.7% during the 4th quarter. Pinnacle West Asset Management Inc. now owns 5,325 shares of the credit-card processor’s stock worth $1,386,000 after purchasing an additional 240 shares during 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.