Visa (NYSE:V) Shares Up 0.8% – Here’s What Happened

Visa Inc. (NYSE:V) shares rose 0.8% on Thursday . The company traded as high as $319.18 and last traded at $318.77. Approximately 1,393,994 shares changed hands during mid-day trading, a decline of 74% from the average daily volume of 5,415,429 shares. The stock had previously closed at $316.28.

Analyst Ratings Changes

V has been the subject of a number of analyst reports. Keefe, Bruyette & Woods lifted their price target on Visa from $335.00 to $360.00 and gave the company an “outperform” rating in a research note on Monday, December 9th. Robert W. Baird upped their price target on Visa from $330.00 to $340.00 and gave the stock an “outperform” rating in a report on Wednesday, October 30th. Piper Sandler raised their price objective on Visa from $319.00 to $322.00 and gave the company an “overweight” rating in a research note on Wednesday, October 30th. Mizuho lifted their price objective on shares of Visa from $279.00 to $292.00 and gave the stock a “neutral” rating in a report on Friday, November 1st. Finally, Morgan Stanley raised their price target on shares of Visa from $326.00 to $371.00 and gave the company an “overweight” rating in a research report on Wednesday, December 18th. Four research analysts have rated the stock with a hold rating, twenty-four have issued a buy rating and two have given a strong buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $331.92.

Visa Price Performance

The business’s fifty day simple moving average is $312.76 and its 200-day simple moving average is $287.65. The company has a current ratio of 1.28, a quick ratio of 1.28 and a debt-to-equity ratio of 0.55. The firm has a market cap of $590.60 billion, a P/E ratio of 32.59, a PEG ratio of 2.06 and a beta of 0.96.

Visa (NYSE:V) last released its quarterly earnings data on Tuesday, October 29th. The credit-card processor reported $2.71 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.58 by $0.13. Visa had a return on equity of 53.16% and a net margin of 54.96%. The company had revenue of $9.62 billion for the quarter, compared to analyst estimates of $9.49 billion. During the same period in the previous year, the company posted $2.33 EPS. The firm’s revenue for the quarter was up 11.7% compared to the same quarter last year. As a group, analysts forecast that Visa Inc. will post 11.22 EPS for the current fiscal year.

Visa Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, December 2nd. Stockholders of record on Tuesday, November 12th were given a $0.59 dividend. This is a positive change from Visa’s previous quarterly dividend of $0.52. This represents a $2.36 dividend on an annualized basis and a dividend yield of 0.74%. The ex-dividend date was Tuesday, November 12th. Visa’s dividend payout ratio (DPR) is 24.25%.

Insider Activity at Visa

In other Visa news, CEO Ryan Mcinerney sold 8,620 shares of the firm’s stock in a transaction dated Thursday, January 2nd. The stock was sold at an average price of $317.78, for a total value of $2,739,263.60. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, insider Paul D. Fabara sold 2,171 shares of the business’s stock in a transaction dated Friday, November 22nd. The stock was sold at an average price of $307.97, for a total value of $668,602.87. Following the transaction, the insider now directly owns 17,894 shares of the company’s stock, valued at $5,510,815.18. The trade was a 10.82 % decrease in their position. The disclosure for this sale can be found here. 0.13% of the stock is owned by corporate insiders.

Institutional Trading of Visa

A number of hedge funds have recently made changes to their positions in the stock. Custom Index Systems LLC purchased a new position in shares of Visa during the third quarter worth approximately $731,000. Copley Financial Group Inc. purchased a new position in Visa in the 3rd quarter worth $616,000. FORA Capital LLC bought a new stake in Visa in the third quarter worth $7,987,000. Chicago Capital LLC boosted its position in Visa by 5.2% during the third quarter. Chicago Capital LLC now owns 404,914 shares of the credit-card processor’s stock valued at $111,331,000 after buying an additional 20,023 shares during the period. Finally, Nexus Investment Management ULC grew its stake in shares of Visa by 5,034.0% during the third quarter. Nexus Investment Management ULC now owns 56,371 shares of the credit-card processor’s stock valued at $15,499,000 after buying an additional 55,273 shares during the last quarter. 82.15% of the stock is owned by institutional investors.

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.