Visa (NYSE:V) Stock Price Up 0% – What’s Next?

Visa Inc. (NYSE:V) shot up 0% on Thursday . The company traded as high as $277.48 and last traded at $276.99. 776,955 shares changed hands during mid-day trading, a decline of 89% from the average session volume of 7,123,748 shares. The stock had previously closed at $276.93.

Wall Street Analysts Forecast Growth

Several equities analysts recently issued reports on the company. Citigroup reduced their price objective on Visa from $321.00 to $319.00 and set a “buy” rating on the stock in a research note on Wednesday, July 24th. Monness Crespi & Hardt reiterated a “neutral” rating on shares of Visa in a research note on Tuesday, September 24th. BMO Capital Markets lifted their target price on Visa from $300.00 to $310.00 and gave the company an “outperform” rating in a research note on Thursday, October 3rd. The Goldman Sachs Group reiterated a “buy” rating and issued a $317.00 price objective on shares of Visa in a research report on Thursday, September 12th. Finally, Piper Sandler cut their price target on Visa from $322.00 to $319.00 and set an “overweight” rating on the stock in a report on Wednesday, July 24th. Six analysts have rated the stock with a hold rating, twenty-three have issued a buy rating and two have given a strong buy rating to the stock. According to data from MarketBeat, Visa presently has a consensus rating of “Moderate Buy” and a consensus price target of $312.04.

Visa Stock Performance

The firm’s fifty day moving average is $274.16 and its 200 day moving average is $272.72. The firm has a market capitalization of $506.22 billion, a price-to-earnings ratio of 29.71, a PEG ratio of 1.92 and a beta of 0.96. The company has a debt-to-equity ratio of 0.54, a current ratio of 1.37 and a quick ratio of 1.37.

Visa (NYSE:V) last issued its earnings results on Tuesday, July 23rd. The credit-card processor reported $2.42 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates 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 analyst estimates of $8.92 billion. During the same quarter last year, the business posted $2.16 EPS. The company’s revenue for the quarter was up 9.6% on a year-over-year basis. On average, analysts predict that Visa Inc. will post 9.92 EPS for the current fiscal year.

Visa Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, September 3rd. Investors of record on Friday, August 9th were issued a $0.52 dividend. The ex-dividend date was Friday, August 9th. This represents a $2.08 dividend on an annualized basis and a yield of 0.75%. Visa’s dividend payout ratio is currently 22.25%.

Insider Activity at Visa

In related news, CEO Ryan Mcinerney sold 8,620 shares of the company’s stock in a transaction on Tuesday, September 3rd. The shares were sold at an average price of $276.37, for a total value of $2,382,309.40. Following the completion of the sale, the chief executive officer now directly owns 538 shares in the company, valued at approximately $148,687.06. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Insiders own 0.19% of the company’s stock.

Institutional Investors Weigh In On Visa

Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. SG Americas Securities LLC boosted its holdings in Visa by 4,412.3% during the third 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 acquiring an additional 4,166,905 shares during the period. National Bank of Canada FI boosted its stake 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. Swedbank AB acquired a new stake in Visa in the 1st quarter valued at approximately $511,321,000. GQG Partners LLC increased its position in Visa by 40.1% in the 1st quarter. GQG Partners LLC now owns 5,990,634 shares of the credit-card processor’s stock worth $1,671,866,000 after buying an additional 1,715,686 shares during the period. Finally, Wulff Hansen & CO. lifted its holdings in shares of Visa by 26,951.9% during the second quarter. Wulff Hansen & CO. now owns 1,587,944 shares of the credit-card processor’s stock worth $416,788,000 after buying an additional 1,582,074 shares during the last quarter. 82.15% of the stock is currently owned by institutional investors and hedge funds.

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.