Lloyd Carney Sells 900 Shares of Visa (NYSE:V) Stock

Visa Inc. (NYSE:V) Director Lloyd Carney sold 900 shares of the firm’s stock in a transaction that occurred on Tuesday, November 4th. The shares were sold at an average price of $336.48, for a total transaction of $302,832.00. Following the completion of the transaction, the director owned 2,468 shares in the company, valued at $830,432.64. The trade was a 26.72% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website.

Visa Price Performance

V opened at $336.63 on Friday. Visa Inc. has a 52-week low of $299.00 and a 52-week high of $375.51. The company has a 50 day moving average of $343.84 and a two-hundred day moving average of $348.51. The company has a market cap of $616.97 billion, a P/E ratio of 32.97, a P/E/G ratio of 2.06 and a beta of 0.87. The company has a quick ratio of 1.12, a current ratio of 1.08 and a debt-to-equity ratio of 0.53.

Visa (NYSE:V) last posted its earnings results on Tuesday, October 28th. The credit-card processor reported $2.98 earnings per share for the quarter, beating the consensus estimate of $2.97 by $0.01. Visa had a net margin of 50.15% and a return on equity of 60.31%. The business had revenue of $10.72 billion for the quarter, compared to analyst estimates of $10.60 billion. During the same quarter in the previous year, the business posted $2.71 EPS. The business’s quarterly revenue was up 11.5% on a year-over-year basis. On average, analysts expect that Visa Inc. will post 11.3 earnings per share for the current year.

Visa Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, December 1st. Stockholders of record on Wednesday, November 12th will be paid a $0.67 dividend. This represents a $2.68 dividend on an annualized basis and a dividend yield of 0.8%. This is an increase from Visa’s previous quarterly dividend of $0.59. The ex-dividend date is Wednesday, November 12th. Visa’s payout ratio is 23.11%.

Analysts Set New Price Targets

V has been the topic of several recent research reports. Truist Financial reduced their price target on Visa from $400.00 to $397.00 and set a “buy” rating on the stock in a research report on Thursday, July 17th. Raymond James Financial reissued an “outperform” rating and set a $408.00 target price (up from $398.00) on shares of Visa in a research report on Wednesday, October 29th. UBS Group set a $425.00 price target on shares of Visa and gave the company a “buy” rating in a report on Wednesday, October 29th. KeyCorp reaffirmed an “overweight” rating and set a $405.00 price target on shares of Visa in a research note on Wednesday, October 22nd. Finally, Wells Fargo & Company raised shares of Visa to a “strong-buy” rating in a research report on Wednesday, October 22nd. Four research analysts have rated the stock with a Strong Buy rating, seventeen have issued a Buy rating and five have given a Hold rating to the stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $400.00.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the stock. Norges Bank acquired a new stake in Visa during the second quarter valued at approximately $7,034,939,000. Nuveen LLC bought a new stake in shares of Visa in the 1st quarter valued at approximately $3,518,533,000. TCI Fund Management Ltd. raised its position in shares of Visa by 14.6% during the 2nd quarter. TCI Fund Management Ltd. now owns 19,067,558 shares of the credit-card processor’s stock valued at $6,769,936,000 after acquiring an additional 2,429,996 shares in the last quarter. Corient Private Wealth LLC raised its position in shares of Visa by 110.4% during the 2nd quarter. Corient Private Wealth LLC now owns 3,954,937 shares of the credit-card processor’s stock valued at $1,396,930,000 after acquiring an additional 2,075,289 shares in the last quarter. Finally, Vanguard Group Inc. boosted its holdings in Visa by 1.1% in the first quarter. Vanguard Group Inc. now owns 161,082,431 shares of the credit-card processor’s stock worth $56,452,949,000 after purchasing an additional 1,677,088 shares during the period. 82.15% of the stock is 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.