Insider Selling: Visa Inc. (NYSE:V) General Counsel Sells 2,572 Shares of Stock

Visa Inc. (NYSE:V) General Counsel Julie B. Rottenberg sold 2,572 shares of Visa stock in a transaction that occurred on Monday, February 3rd. The stock was sold at an average price of $340.00, for a total transaction of $874,480.00. Following the completion of the transaction, the general counsel now owns 11,925 shares in the company, valued at approximately $4,054,500. This trade represents a 17.74 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link.

Visa Stock Performance

Shares of NYSE V traded down $0.51 during trading on Tuesday, reaching $345.31. 5,529,165 shares of the stock traded hands, compared to its average volume of 5,980,642. The company has a 50-day moving average of $318.40 and a 200-day moving average of $293.81. Visa Inc. has a 52-week low of $252.70 and a 52-week high of $351.25. The stock has a market capitalization of $643.27 billion, a P/E ratio of 34.81, a price-to-earnings-growth ratio of 2.30 and a beta of 0.97. The company has a debt-to-equity ratio of 0.45, a current ratio of 1.12 and a quick ratio of 1.28.

Visa (NYSE:V) last posted its earnings results on Thursday, January 30th. The credit-card processor reported $2.75 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.66 by $0.09. Visa had a return on equity of 54.79% and a net margin of 54.27%. Analysts forecast that Visa Inc. will post 11.2 EPS for the current fiscal year.

Visa Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, March 3rd. Shareholders of record on Tuesday, February 11th will be paid a $0.59 dividend. The ex-dividend date is Tuesday, February 11th. This represents a $2.36 dividend on an annualized basis and a yield of 0.68%. Visa’s dividend payout ratio is currently 23.79%.

Analysts Set New Price Targets

A number of research firms have issued reports on V. Royal Bank of Canada increased their target price on shares of Visa from $311.00 to $322.00 and gave the stock an “outperform” rating in a research report on Wednesday, October 30th. Jefferies Financial Group lifted their price objective on Visa from $320.00 to $330.00 and gave the company a “buy” rating in a research report on Wednesday, October 30th. BMO Capital Markets upped their target price on Visa from $310.00 to $320.00 and gave the stock an “outperform” rating in a research report on Wednesday, October 30th. Susquehanna lifted their price target on Visa from $375.00 to $395.00 and gave the company a “positive” rating in a report on Friday. Finally, Piper Sandler reissued an “overweight” rating and issued a $383.00 price target (up previously from $368.00) on shares of Visa in a research note on Friday. Four equities research analysts have rated the stock with a hold rating, twenty-five have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, Visa has a consensus rating of “Moderate Buy” and an average target price of $354.73.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of the stock. Cutter & CO Brokerage Inc. raised its stake in shares of Visa by 0.9% during the fourth quarter. Cutter & CO Brokerage Inc. now owns 12,979 shares of the credit-card processor’s stock worth $4,102,000 after acquiring an additional 115 shares in the last quarter. Financial Symmetry Inc bought a new position in shares of Visa during the 4th quarter valued at $230,000. Lake Street Advisors Group LLC raised its position in Visa by 1.8% in the 4th quarter. Lake Street Advisors Group LLC now owns 19,422 shares of the credit-card processor’s stock worth $6,138,000 after purchasing an additional 337 shares during the period. JFG Wealth Management LLC lifted its stake in Visa by 6.5% in the fourth quarter. JFG Wealth Management LLC now owns 1,451 shares of the credit-card processor’s stock worth $459,000 after purchasing an additional 88 shares during the last quarter. Finally, Provident Wealth Management LLC purchased a new stake in Visa during the fourth quarter valued at about $200,000. 82.15% of the stock is currently 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.