Visa (NYSE:V) Trading Down 1% – Here’s What Happened

Visa Inc. (NYSE:V)’s share price was down 1% during mid-day trading on Wednesday . The stock traded as low as $308.38 and last traded at $308.85. Approximately 1,135,920 shares changed hands during mid-day trading, a decline of 84% from the average daily volume of 6,947,864 shares. The stock had previously closed at $311.85.

Wall Street Analyst Weigh In

A number of equities analysts have weighed in on V shares. BMO Capital Markets raised their target price on shares of Visa from $310.00 to $320.00 and gave the company an “outperform” rating in a research note on Wednesday, October 30th. Keefe, Bruyette & Woods raised Visa from a “moderate buy” rating to a “strong-buy” rating in a research report on Tuesday, September 24th. Susquehanna boosted their target price on Visa from $326.00 to $339.00 and gave the stock a “positive” rating in a report on Wednesday, October 30th. Deutsche Bank Aktiengesellschaft increased their target price on Visa from $300.00 to $340.00 and gave the stock a “buy” rating in a research note on Wednesday, October 30th. Finally, BNP Paribas raised Visa from a “neutral” rating to an “outperform” rating and set a $325.00 price target for the company in a research report on Tuesday, September 3rd. Four investment analysts have rated the stock with a hold rating, twenty-four have given a buy rating and two have assigned a strong buy rating to the company. According to MarketBeat.com, Visa presently has a consensus rating of “Moderate Buy” and a consensus target price of $321.74.

Visa Stock Down 1.5 %

The business’s fifty day moving average is $288.10 and its two-hundred day moving average is $276.63. The stock has a market cap of $559.52 billion, a price-to-earnings ratio of 31.74, a PEG ratio of 2.07 and a beta of 0.95. The company has a quick ratio of 1.28, a current ratio of 1.28 and a debt-to-equity ratio of 0.55.

Visa (NYSE:V) last announced its quarterly earnings data on Tuesday, October 29th. The credit-card processor reported $2.71 earnings per share (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 analysts’ expectations of $9.49 billion. Visa had a return on equity of 53.16% and a net margin of 54.96%. The business’s quarterly revenue was up 11.7% compared to the same quarter last year. During the same quarter last year, the business posted $2.33 EPS. Equities analysts forecast that Visa Inc. will post 11.19 earnings per share for the current fiscal year.

Visa Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, December 2nd. Stockholders of record on Tuesday, November 12th will be issued a $0.59 dividend. 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 dividend yield of 0.77%. Visa’s dividend payout ratio is presently 24.25%.

Insider Buying and Selling at Visa

In other news, CEO Ryan Mcinerney sold 8,620 shares of the business’s stock in a transaction dated Tuesday, September 3rd. The shares were sold at an average price of $276.37, for a total transaction of $2,382,309.40. Following the transaction, the chief executive officer now directly owns 538 shares in the company, valued at $148,687.06. The trade was a 94.13 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. 0.19% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Visa

A number of large investors have recently made changes to their positions in the stock. Arjuna Capital lifted its holdings in Visa by 0.8% in the 2nd quarter. Arjuna Capital now owns 11,851 shares of the credit-card processor’s stock valued at $3,111,000 after purchasing an additional 96 shares in the last quarter. Custom Index Systems LLC acquired a new position in Visa in the 3rd quarter valued at $731,000. Mechanics Bank Trust Department lifted its stake in shares of Visa by 8.0% during the 2nd quarter. Mechanics Bank Trust Department now owns 32,460 shares of the credit-card processor’s stock worth $8,520,000 after purchasing an additional 2,410 shares during the period. Chicago Capital LLC increased its stake in Visa by 5.2% in the third quarter. Chicago Capital LLC now owns 404,914 shares of the credit-card processor’s stock valued at $111,331,000 after purchasing an additional 20,023 shares during the last quarter. Finally, Baader Bank Aktiengesellschaft boosted its stake in Visa by 9.3% in the 2nd quarter. Baader Bank Aktiengesellschaft now owns 58,655 shares of the credit-card processor’s stock worth $15,299,000 after buying an additional 4,988 shares during the last quarter. Hedge funds and other 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.