Visa (NYSE:V) Trading Up 0.5% – Here’s Why

Visa Inc. (NYSE:V) traded up 0.5% during trading on Thursday . The company traded as high as $311.29 and last traded at $311.14. 928,108 shares were traded during mid-day trading, a decline of 87% from the average session volume of 6,987,349 shares. The stock had previously closed at $309.48.

Wall Street Analyst Weigh In

A number of equities research analysts have recently issued reports on the stock. Susquehanna boosted their price target on shares of Visa from $326.00 to $339.00 and gave the company a “positive” rating in a research note on Wednesday, October 30th. Deutsche Bank Aktiengesellschaft raised their price target on Visa from $300.00 to $340.00 and gave the stock a “buy” rating in a research report on Wednesday, October 30th. William Blair upgraded Visa to a “strong-buy” rating in a report on Tuesday, July 23rd. Morgan Stanley lifted their target price on Visa from $322.00 to $326.00 and gave the company an “overweight” rating in a research report on Wednesday, October 30th. Finally, Monness Crespi & Hardt reissued a “neutral” rating on shares of Visa in a research report on Tuesday, September 24th. Four analysts have rated the stock with a hold rating, twenty-four have issued a buy rating and two have issued a strong buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $321.74.

Visa Trading Up 0.5 %

The business has a 50-day moving average of $287.04 and a 200-day moving average of $275.90. The stock has a market capitalization of $564.31 billion, a price-to-earnings ratio of 31.83, a PEG ratio of 2.06 and a beta of 0.95. The company has a debt-to-equity ratio of 0.55, a quick ratio of 1.37 and a current ratio of 1.28.

Visa (NYSE:V) last posted its quarterly earnings data on Tuesday, October 29th. The credit-card processor reported $2.71 earnings per share for the quarter, beating the consensus estimate of $2.58 by $0.13. The business had revenue of $9.62 billion during the quarter, compared to the consensus estimate of $9.49 billion. Visa had a return on equity of 53.16% and a net margin of 54.96%. The company’s revenue was up 11.7% compared to the same quarter last year. During the same period in the prior year, the company earned $2.33 earnings per share. As a group, research analysts forecast that Visa Inc. will post 11.19 EPS for the current year.

Visa Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, December 2nd. Stockholders of record on Tuesday, November 12th will be paid a dividend of $0.59 per share. This is an increase from Visa’s previous quarterly dividend of $0.52. The ex-dividend date of this dividend is Tuesday, November 12th. This represents a $2.36 annualized dividend and a dividend yield of 0.76%. Visa’s dividend payout ratio is 24.25%.

Insider Buying and Selling

In related news, CEO Ryan Mcinerney sold 8,620 shares of Visa stock in a transaction on Tuesday, September 3rd. The shares were sold at an average price of $276.37, for a total value 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. This trade represents a 94.13 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Corporate insiders own 0.19% of the company’s stock.

Institutional Trading of Visa

Several hedge funds have recently made changes to their positions in V. WFA Asset Management Corp grew its holdings in Visa by 4.6% during the first quarter. WFA Asset Management Corp now owns 2,263 shares of the credit-card processor’s stock worth $632,000 after acquiring an additional 100 shares during the period. China Universal Asset Management Co. Ltd. grew its stake in shares of Visa by 46.9% during the 1st quarter. China Universal Asset Management Co. Ltd. now owns 50,328 shares of the credit-card processor’s stock worth $14,046,000 after purchasing an additional 16,078 shares during the period. Empowered Funds LLC increased its holdings in shares of Visa by 16.0% in the 1st quarter. Empowered Funds LLC now owns 58,506 shares of the credit-card processor’s stock valued at $16,328,000 after purchasing an additional 8,086 shares in the last quarter. Blue Barn Wealth LLC lifted its stake in shares of Visa by 22.2% in the first quarter. Blue Barn Wealth LLC now owns 2,773 shares of the credit-card processor’s stock valued at $774,000 after purchasing an additional 503 shares during the period. Finally, Ontario Teachers Pension Plan Board purchased a new stake in Visa during the first quarter worth about $2,499,000. 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.