Visa (NYSE:V) Trading 2% Higher

Visa Inc. (NYSE:V)’s share price was up 2% during trading on Monday . The stock traded as high as $285.65 and last traded at $284.93. Approximately 1,949,709 shares were traded during mid-day trading, a decline of 73% from the average daily volume of 7,094,657 shares. The stock had previously closed at $279.37.

Analysts Set New Price Targets

A number of brokerages have recently commented on V. Piper Sandler dropped their price objective on shares of Visa from $322.00 to $319.00 and set an “overweight” rating on the stock in a research note on Wednesday, July 24th. Citigroup decreased 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. William Blair upgraded Visa to a “strong-buy” rating in a research report on Tuesday, July 23rd. JPMorgan Chase & Co. lifted their price target on Visa from $290.00 to $320.00 and gave the company an “overweight” rating in a research note on Tuesday, August 20th. Finally, Bank of America reiterated a “neutral” rating and set a $297.00 price target (down previously from $305.00) on shares of Visa in a research report on Wednesday, July 10th. Six equities research analysts have rated the stock with a hold rating, twenty-three have assigned a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $309.54.

Visa Trading Down 0.5 %

The stock has a market cap of $517.46 billion, a PE ratio of 31.59, a price-to-earnings-growth ratio of 1.97 and a beta of 0.96. 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 company’s 50-day moving average price is $267.32 and its 200 day moving average price is $273.13.

Visa (NYSE:V) last announced its earnings results on Tuesday, July 23rd. The credit-card processor reported $2.42 earnings per share for the quarter, hitting the consensus estimate of $2.42. The company had revenue of $8.90 billion during the quarter, compared to analyst estimates of $8.92 billion. Visa had a net margin of 54.72% and a return on equity of 51.94%. Visa’s revenue was up 9.6% compared to the same quarter last year. During the same quarter last year, the firm posted $2.16 earnings per share. On average, sell-side 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. Shareholders of record on Friday, August 9th were given a $0.52 dividend. This represents a $2.08 dividend on an annualized basis and a yield of 0.73%. The ex-dividend date was Friday, August 9th. Visa’s payout ratio is 23.24%.

Insider Transactions at Visa

In other Visa news, CEO Ryan Mcinerney sold 8,620 shares of Visa 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 of the company’s stock, valued at approximately $148,687.06. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Company insiders own 0.19% of the company’s stock.

Institutional Investors Weigh In On Visa

Large investors have recently added to or reduced their stakes in the business. Livelsberger Financial Advisory acquired a new position in shares of Visa during the fourth quarter worth about $25,000. Westend Capital Management LLC purchased a new position in Visa in the first quarter worth approximately $25,000. POM Investment Strategies LLC grew its holdings in Visa by 970.0% during the 2nd quarter. POM Investment Strategies LLC now owns 107 shares of the credit-card processor’s stock worth $28,000 after acquiring an additional 97 shares in the last quarter. Frank Rimerman Advisors LLC purchased a new stake in shares of Visa in the 4th quarter valued at approximately $33,000. Finally, TruNorth Capital Management LLC raised its holdings 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 in the last quarter. 82.15% of the stock is owned by hedge funds and other institutional investors.

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.