Visa (NYSE:V) Trading 0.8% Higher – Here’s What Happened

Visa Inc. (NYSE:V)’s stock price rose 0.8% during mid-day trading on Thursday . The stock traded as high as $319.18 and last traded at $318.77. Approximately 1,393,994 shares changed hands during mid-day trading, a decline of 74% from the average daily volume of 5,415,429 shares. The stock had previously closed at $316.28.

Analyst Ratings Changes

V has been the subject of several research analyst reports. Robert W. Baird raised their price objective on Visa from $330.00 to $340.00 and gave the stock an “outperform” rating in a research note on Wednesday, October 30th. Piper Sandler raised their target price on Visa from $319.00 to $322.00 and gave the stock an “overweight” rating in a report on Wednesday, October 30th. Monness Crespi & Hardt reaffirmed a “neutral” rating on shares of Visa in a report on Tuesday, September 24th. TD Cowen raised their target price on Visa from $318.00 to $325.00 and gave the stock a “buy” rating in a report on Wednesday, October 30th. Finally, Deutsche Bank Aktiengesellschaft raised their target price on Visa from $300.00 to $340.00 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 given a buy rating and two have assigned a strong buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $331.92.

Visa Price Performance

The company has a debt-to-equity ratio of 0.55, a current ratio of 1.28 and a quick ratio of 1.28. The stock has a 50 day moving average price of $313.16 and a two-hundred day moving average price of $288.06. The firm has a market capitalization of $596.06 billion, a price-to-earnings ratio of 32.88, a PEG ratio of 2.06 and a beta of 0.96.

Visa (NYSE:V) last issued its quarterly earnings data on Tuesday, October 29th. The credit-card processor reported $2.71 earnings per share for the quarter, beating analysts’ consensus estimates of $2.58 by $0.13. Visa had a return on equity of 53.16% and a net margin of 54.96%. The business had revenue of $9.62 billion during the quarter, compared to analysts’ expectations of $9.49 billion. During the same period in the previous year, the firm posted $2.33 earnings per share. The company’s revenue was up 11.7% on a year-over-year basis. As a group, analysts expect that Visa Inc. will post 11.22 EPS for the current year.

Visa Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, December 2nd. Stockholders of record on Tuesday, November 12th were paid a $0.59 dividend. The ex-dividend date of this dividend was Tuesday, November 12th. This is a boost from Visa’s previous quarterly dividend of $0.52. This represents a $2.36 dividend on an annualized basis and a dividend yield of 0.74%. Visa’s payout ratio is presently 24.25%.

Insider Activity

In other news, 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 transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Paul D. Fabara sold 2,171 shares of the company’s stock in a transaction dated Friday, November 22nd. The stock was 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 of the company’s stock, valued at approximately $5,510,815.18. This represents a 10.82 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 0.13% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in V. Peterson Financial Group Inc. purchased a new stake in shares of Visa in the 3rd quarter valued at about $26,000. Decker Retirement Planning Inc. purchased a new stake in shares of Visa in the 4th quarter valued at about $26,000. Reston Wealth Management LLC purchased a new stake in shares of Visa in the 3rd quarter valued at about $31,000. Modus Advisors LLC purchased a new stake in shares of Visa in the 4th quarter valued at about $32,000. Finally, West Financial Advisors LLC lifted its holdings in shares of Visa by 101.4% in the 3rd quarter. West Financial Advisors LLC now owns 145 shares of the credit-card processor’s stock valued at $40,000 after purchasing an additional 73 shares during the last quarter. 82.15% of the stock is owned by institutional investors and hedge funds.

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.