Visa (NYSE:V) Stock Price Up 1.1% – Here’s What Happened

Visa Inc. (NYSE:V)’s stock price shot up 1.1% on Tuesday . The stock traded as high as $320.72 and last traded at $320.64. 812,783 shares were traded during trading, a decline of 88% from the average session volume of 6,961,504 shares. The stock had previously closed at $317.22.

Wall Street Analysts Forecast Growth

Several brokerages have issued reports on V. Robert W. Baird boosted their price target on shares of Visa from $330.00 to $340.00 and gave the company an “outperform” rating in a report on Wednesday, October 30th. The Goldman Sachs Group reissued a “buy” rating and issued a $317.00 target price on shares of Visa in a report on Thursday, September 12th. Piper Sandler upped their price target on Visa from $319.00 to $322.00 and gave the company an “overweight” rating in a research report on Wednesday, October 30th. BMO Capital Markets increased their price objective on Visa from $310.00 to $320.00 and gave the stock an “outperform” rating in a research note on Wednesday, October 30th. Finally, Mizuho boosted their target price on shares of Visa from $279.00 to $292.00 and gave the company a “neutral” rating in a research note on Friday, November 1st. Four investment analysts have rated the stock with a hold rating, twenty-five have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $328.41.

Visa Price Performance

The company has a debt-to-equity ratio of 0.55, a quick ratio of 1.28 and a current ratio of 1.28. The firm has a market capitalization of $597.33 billion, a P/E ratio of 32.95, a price-to-earnings-growth ratio of 2.11 and a beta of 0.96. The company has a 50-day moving average price of $303.94 and a 200-day moving average price of $282.95.

Visa (NYSE:V) last released its quarterly earnings data on Tuesday, October 29th. The credit-card processor reported $2.71 earnings per share for the quarter, topping the consensus estimate of $2.58 by $0.13. Visa had a net margin of 54.96% and a return on equity of 53.16%. The business had revenue of $9.62 billion for the quarter, compared to analyst estimates of $9.49 billion. During the same quarter last year, the firm earned $2.33 EPS. Visa’s quarterly revenue was up 11.7% compared to the same quarter last year. On average, sell-side analysts predict that Visa Inc. will post 11.23 earnings per share for the current year.

Visa Increases Dividend

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

Insiders Place Their Bets

In other news, insider Paul D. Fabara sold 2,171 shares of the company’s stock in a transaction that occurred on Friday, November 22nd. The shares were sold at an average price of $307.97, for a total value of $668,602.87. Following the completion of the transaction, the insider now owns 17,894 shares in the company, valued at $5,510,815.18. This represents a 10.82 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Corporate insiders own 0.13% of the company’s stock.

Institutional Investors Weigh In On Visa

A number of hedge funds and other institutional investors have recently bought and sold shares of the company. Bensler LLC lifted its position in Visa by 3.0% during the 2nd quarter. Bensler LLC now owns 22,619 shares of the credit-card processor’s stock worth $5,937,000 after buying an additional 651 shares in the last quarter. Park Edge Advisors LLC boosted its position in Visa by 13.8% during the second quarter. Park Edge Advisors LLC now owns 3,032 shares of the credit-card processor’s stock valued at $796,000 after purchasing an additional 367 shares during the last quarter. Hall Capital Management Co. Inc. grew its stake in Visa by 0.9% in the second quarter. Hall Capital Management Co. Inc. now owns 10,053 shares of the credit-card processor’s stock valued at $2,639,000 after purchasing an additional 92 shares in the last quarter. Checchi Capital Advisers LLC increased its position in shares of Visa by 1.1% during the 2nd quarter. Checchi Capital Advisers LLC now owns 16,340 shares of the credit-card processor’s stock worth $4,289,000 after purchasing an additional 185 shares during the last quarter. Finally, WealthShield Partners LLC raised its stake in shares of Visa by 7.3% during the 2nd quarter. WealthShield Partners LLC now owns 12,486 shares of the credit-card processor’s stock worth $3,277,000 after purchasing an additional 850 shares in the last quarter. Institutional investors and hedge funds own 82.15% of the company’s stock.

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.