Visa (NYSE:V) Shares Up 0.9% – Here’s What Happened

Visa Inc. (NYSE:VGet Free Report) traded up 0.9% on Tuesday . The company traded as high as $322.90 and last traded at $322.53. 1,309,043 shares traded hands during mid-day trading, a decline of 76% from the average session volume of 5,361,119 shares. The stock had previously closed at $319.62.

Analyst Upgrades and Downgrades

A number of equities analysts recently weighed in on the stock. Citigroup boosted their price objective on shares of Visa from $326.00 to $354.00 and gave the stock a “buy” rating in a report on Tuesday, January 14th. Royal Bank of Canada boosted their price objective on shares of Visa from $311.00 to $322.00 and gave the stock an “outperform” rating in a report on Wednesday, October 30th. Keefe, Bruyette & Woods boosted their price objective on shares of Visa from $335.00 to $360.00 and gave the stock an “outperform” rating in a report on Monday, December 9th. Barclays boosted their price objective on shares of Visa from $319.00 to $347.00 and gave the stock an “overweight” rating in a report on Monday, November 4th. Finally, Jefferies Financial Group boosted their price objective on shares of Visa from $320.00 to $330.00 and gave the stock a “buy” rating in a report on Wednesday, October 30th. Four analysts have rated the stock with a hold rating, twenty-four have assigned a buy rating and two have assigned a strong buy rating to the company. According to MarketBeat, Visa presently has a consensus rating of “Moderate Buy” and an average target price of $332.81.

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Visa Price Performance

The firm’s fifty day simple moving average is $314.14 and its 200 day simple moving average is $289.71. The firm has a market cap of $611.36 billion, a P/E ratio of 33.73, a P/E/G ratio of 2.17 and a beta of 0.96. The company has a debt-to-equity ratio of 0.55, a quick ratio of 1.28 and a current ratio of 1.28.

Visa (NYSE:VGet Free Report) last released its quarterly earnings data on Tuesday, October 29th. The credit-card processor reported $2.71 EPS 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 net margin of 54.96% and a return on equity of 53.16%. The business’s revenue was up 11.7% on a year-over-year basis. During the same quarter in the prior year, the firm earned $2.33 EPS. As a group, analysts forecast that Visa Inc. will post 11.2 earnings per share for the current year.

Visa Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, December 2nd. Stockholders of record on Tuesday, November 12th were given a dividend of $0.59 per share. This represents a $2.36 annualized dividend and a dividend yield of 0.72%. This is a boost from Visa’s previous quarterly dividend of $0.52. The ex-dividend date of this dividend was Tuesday, November 12th. Visa’s dividend payout ratio is currently 24.25%.

Insider Activity

In other Visa news, insider Paul D. Fabara sold 2,171 shares of the company’s stock in a transaction dated Friday, November 22nd. The shares were 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 in the company, valued at $5,510,815.18. This represents a 10.82 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Ryan Mcinerney sold 8,620 shares of the company’s stock in a transaction dated Thursday, January 2nd. The stock was sold at an average price of $317.78, for a total transaction of $2,739,263.60. The disclosure for this sale can be found here. Corporate insiders own 0.13% of the company’s stock.

Hedge Funds Weigh In On Visa

Hedge funds and other institutional investors have recently modified their holdings of the business. Sfmg LLC raised its holdings in shares of Visa by 0.6% in the second quarter. Sfmg LLC now owns 21,642 shares of the credit-card processor’s stock worth $5,680,000 after buying an additional 122 shares during the last quarter. Insigneo Advisory Services LLC raised its holdings in shares of Visa by 8.5% in the second quarter. Insigneo Advisory Services LLC now owns 24,253 shares of the credit-card processor’s stock worth $6,219,000 after buying an additional 1,899 shares during the last quarter. Point72 Hong Kong Ltd raised its holdings in shares of Visa by 64.1% in the second quarter. Point72 Hong Kong Ltd now owns 67,327 shares of the credit-card processor’s stock worth $17,671,000 after buying an additional 26,295 shares during the last quarter. Kingfisher Capital LLC raised its holdings in shares of Visa by 0.7% in the second quarter. Kingfisher Capital LLC now owns 14,913 shares of the credit-card processor’s stock worth $3,914,000 after buying an additional 99 shares during the last quarter. Finally, Unisphere Establishment raised its holdings in shares of Visa by 4.1% in the second quarter. Unisphere Establishment now owns 1,520,000 shares of the credit-card processor’s stock worth $398,954,000 after buying an additional 60,000 shares during the last quarter. 82.15% of the stock is currently owned by institutional investors.

About Visa

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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.

Further Reading

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