Visa Inc. (NYSE:V) CEO Sells $2,739,263.60 in Stock

Visa Inc. (NYSE:V) 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 value of $2,739,263.60. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink.

Visa Price Performance

Shares of NYSE V traded up $0.51 during mid-day trading on Friday, hitting $314.91. 4,214,989 shares of the stock were exchanged, compared to its average volume of 4,793,774. The company has a market cap of $586.64 billion, a P/E ratio of 32.36, a PEG ratio of 2.11 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 Inc. has a twelve month low of $252.70 and a twelve month high of $321.61. The stock’s fifty day simple moving average is $309.06 and its two-hundred day simple moving average is $285.28.

Visa (NYSE:V) last issued 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. Visa had a return on equity of 53.16% and a net margin of 54.96%. The firm had revenue of $9.62 billion during the quarter, compared to the consensus estimate of $9.49 billion. During the same quarter in the previous year, the company posted $2.33 EPS. The business’s revenue for the quarter was up 11.7% compared to the same quarter last year. As a group, analysts forecast that Visa Inc. will post 11.23 EPS for the current fiscal year.

Visa Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, December 2nd. Shareholders of record on Tuesday, November 12th were paid a $0.59 dividend. The ex-dividend date was Tuesday, November 12th. This is an increase from Visa’s previous quarterly dividend of $0.52. This represents a $2.36 dividend on an annualized basis and a dividend yield of 0.75%. Visa’s payout ratio is currently 24.25%.

Institutional Trading of Visa

A number of hedge funds and other institutional investors have recently modified their holdings of V. Custom Index Systems LLC bought a new position in Visa during the third quarter worth about $731,000. Copley Financial Group Inc. acquired a new stake in shares of Visa during the third quarter worth about $616,000. FORA Capital LLC bought a new position in Visa in the third quarter valued at approximately $7,987,000. Chicago Capital LLC lifted its position in Visa by 5.2% in the 3rd quarter. Chicago Capital LLC now owns 404,914 shares of the credit-card processor’s stock valued at $111,331,000 after acquiring an additional 20,023 shares in the last quarter. Finally, Nexus Investment Management ULC boosted its position in shares of Visa by 5,034.0% during the third quarter. Nexus Investment Management ULC now owns 56,371 shares of the credit-card processor’s stock worth $15,499,000 after buying an additional 55,273 shares during the period. Institutional investors and hedge funds own 82.15% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts have commented on the company. Royal Bank of Canada increased their price target on Visa from $311.00 to $322.00 and gave the company an “outperform” rating in a report on Wednesday, October 30th. BMO Capital Markets boosted their target price on shares of Visa from $310.00 to $320.00 and gave the stock an “outperform” rating in a research report on Wednesday, October 30th. TD Cowen raised their price target on Visa from $318.00 to $325.00 and gave the company a “buy” rating in a research report on Wednesday, October 30th. Morgan Stanley increased their target price on Visa from $326.00 to $371.00 and gave the company an “overweight” rating in a research note on Wednesday, December 18th. Finally, Barclays lifted their price target on Visa from $319.00 to $347.00 and gave the stock an “overweight” rating in a research report on Monday, November 4th. Four research analysts have rated the stock with a hold rating, twenty-five have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, Visa currently has an average rating of “Moderate Buy” and an average price target of $329.70.

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.