Visa (NYSE:V) Trading 0.3% Higher

Visa Inc. (NYSE:V)’s share price shot up 0.3% during trading on Monday . The company traded as high as $261.09 and last traded at $260.54. 1,921,708 shares were traded during trading, a decline of 73% from the average session volume of 7,039,531 shares. The stock had previously closed at $259.76.

Wall Street Analysts Forecast Growth

Several equities analysts have commented on the stock. Piper Sandler decreased their price objective on shares of Visa from $322.00 to $319.00 and set an “overweight” rating on the stock in a report on Wednesday, July 24th. Oppenheimer increased their price target on shares of Visa from $297.00 to $299.00 and gave the company an “outperform” rating in a report on Wednesday, April 24th. Jefferies Financial Group reduced their price objective on Visa from $325.00 to $300.00 and set a “buy” rating for the company in a report on Wednesday, July 24th. UBS Group increased their target price on Visa from $315.00 to $325.00 and gave the stock a “buy” rating in a research note on Wednesday, April 24th. Finally, Wedbush lifted their price target on Visa from $280.00 to $300.00 and gave the stock an “outperform” rating in a report on Wednesday, April 24th. Six equities research analysts have rated the stock with a hold rating, twenty-one have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, Visa presently has an average rating of “Moderate Buy” and an average target price of $307.25.

Visa Stock Up 0.4 %

The firm has a market cap of $475.77 billion, a P/E ratio of 29.08, a price-to-earnings-growth ratio of 1.83 and a beta of 0.95. The stock’s 50 day simple moving average is $267.11 and its 200 day simple moving average is $273.77. The company has a debt-to-equity ratio of 0.54, a quick ratio of 1.37 and a current ratio of 1.37.

Visa (NYSE:V) last announced its earnings results on Tuesday, July 23rd. The credit-card processor reported $2.42 EPS for the quarter, meeting the consensus estimate of $2.42. Visa had a net margin of 54.72% and a return on equity of 51.94%. The company had revenue of $8.90 billion during the quarter, compared to the consensus estimate of $8.92 billion. During the same quarter in the prior year, the company posted $2.16 earnings per share. The firm’s revenue for the quarter was up 9.6% on a year-over-year basis. Research analysts anticipate that Visa Inc. will post 9.91 EPS for the current year.

Visa Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, September 3rd. Stockholders of record on Friday, August 9th will be given a dividend of $0.52 per share. This represents a $2.08 annualized dividend and a dividend yield of 0.80%. The ex-dividend date of this dividend is Friday, August 9th. Visa’s dividend payout ratio is presently 23.24%.

Institutional Trading of Visa

Hedge funds have recently added to or reduced their stakes in the stock. Long Run Wealth Advisors LLC raised its position in shares of Visa by 2.5% in the first quarter. Long Run Wealth Advisors LLC now owns 1,519 shares of the credit-card processor’s stock valued at $424,000 after purchasing an additional 37 shares during the period. Alaethes Wealth LLC lifted its position in shares of Visa by 0.4% during the fourth quarter. Alaethes Wealth LLC now owns 8,843 shares of the credit-card processor’s stock worth $2,302,000 after acquiring an additional 37 shares in the last quarter. Jessup Wealth Management Inc boosted its holdings in shares of Visa by 0.7% in the first quarter. Jessup Wealth Management Inc now owns 5,051 shares of the credit-card processor’s stock worth $1,410,000 after acquiring an additional 37 shares during the period. Cordatus Wealth Management LLC boosted its holdings in shares of Visa by 0.3% in the first quarter. Cordatus Wealth Management LLC now owns 10,793 shares of the credit-card processor’s stock worth $3,012,000 after acquiring an additional 37 shares during the period. Finally, Aurora Private Wealth Inc. grew its position in shares of Visa by 3.8% in the first quarter. Aurora Private Wealth Inc. now owns 1,036 shares of the credit-card processor’s stock valued at $289,000 after purchasing an additional 38 shares in the last quarter. Institutional investors own 82.15% of the company’s stock.

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.