Visa (NYSE:V) Trading Up 0.1% – Here’s What Happened

Visa Inc. (NYSE:V) shares shot up 0.1% on Monday . The stock traded as high as $311.13 and last traded at $309.93. 787,061 shares traded hands during mid-day trading, a decline of 89% from the average session volume of 6,966,749 shares. The stock had previously closed at $309.64.

Analyst Upgrades and Downgrades

Several equities research analysts have recently commented on the stock. Jefferies Financial Group lifted their price target on shares of Visa from $320.00 to $330.00 and gave the stock a “buy” rating in a research report on Wednesday, October 30th. BNP Paribas raised shares of Visa from a “neutral” rating to an “outperform” rating and set a $325.00 price objective on the stock in a research note on Tuesday, September 3rd. The Goldman Sachs Group reissued a “buy” rating and set a $317.00 price objective on shares of Visa in a research note on Thursday, September 12th. Compass Point assumed coverage on shares of Visa in a research note on Wednesday, September 4th. They set a “buy” rating and a $319.00 price objective on the stock. Finally, Piper Sandler lifted their price target on shares of Visa from $319.00 to $322.00 and gave the company an “overweight” rating in a research note on Wednesday, October 30th. Four investment analysts have rated the stock with a hold rating, twenty-four have given a buy rating and two have given a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $321.74.

Visa Price Performance

The company’s 50-day moving average is $287.04 and its two-hundred day moving average is $276.01. The company has a debt-to-equity ratio of 0.55, a current ratio of 1.28 and a quick ratio of 1.28. The firm has a market cap of $567.81 billion, a P/E ratio of 31.85, a PEG ratio of 2.07 and a beta of 0.95.

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, topping the consensus estimate of $2.58 by $0.13. Visa had a net margin of 54.96% and a return on equity of 53.16%. The business had revenue of $9.62 billion during the quarter, compared to analysts’ expectations of $9.49 billion. During the same quarter in the prior year, the business posted $2.33 earnings per share. Visa’s revenue was up 11.7% compared to the same quarter last year. Sell-side analysts anticipate that Visa Inc. will post 11.19 EPS for the current fiscal year.

Visa Increases Dividend

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

Insider Transactions at Visa

In other news, CEO Ryan Mcinerney sold 8,620 shares of the company’s stock in a transaction that occurred on 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 owns 538 shares of the company’s stock, valued at $148,687.06. This represents a 94.13 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Company insiders own 0.19% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in V. International Assets Investment Management LLC increased its stake in shares of Visa by 45,189.4% in the third quarter. International Assets Investment Management LLC now owns 9,758,505 shares of the credit-card processor’s stock valued at $2,683,101,000 after buying an additional 9,736,958 shares during the period. SG Americas Securities LLC increased its position in Visa by 4,412.3% during the 3rd quarter. SG Americas Securities LLC now owns 4,072,467 shares of the credit-card processor’s stock valued at $1,119,725,000 after purchasing an additional 4,166,905 shares during the period. National Bank of Canada FI increased its position in Visa by 787.1% during the 1st quarter. National Bank of Canada FI now owns 4,619,881 shares of the credit-card processor’s stock valued at $1,296,820,000 after purchasing an additional 4,099,122 shares during the period. State Street Corp increased its position in Visa by 4.5% during the 3rd quarter. State Street Corp now owns 76,610,942 shares of the credit-card processor’s stock valued at $21,064,179,000 after purchasing an additional 3,327,977 shares during the period. Finally, FMR LLC increased its position in Visa by 6.1% during the 3rd quarter. FMR LLC now owns 57,111,843 shares of the credit-card processor’s stock valued at $15,702,901,000 after purchasing an additional 3,265,518 shares during the period. 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.