Visa (NYSE:V) Stock Price Down 1.4% After Insider Selling

Visa Inc. (NYSE:V)’s stock price was down 1.4% during mid-day trading on Monday after an insider sold shares in the company. The company traded as low as $348.85 and last traded at $357.22. 11,482,368 shares traded hands during mid-day trading, an increase of 42% from the average session volume of 8,088,847 shares. The stock had previously closed at $362.13.

Specifically, General Counsel Julie B. Rottenberg sold 2,027 shares of the business’s stock in a transaction that occurred on Thursday, July 2nd. The stock was sold at an average price of $360.00, for a total value of $729,720.00. Following the completion of the sale, the general counsel directly owned 18,404 shares in the company, valued at approximately $6,625,440. The trade was a 9.92% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Ryan Mcinerney sold 10,490 shares of the business’s stock in a transaction on Wednesday, July 1st. The stock was sold at an average price of $343.99, for a total transaction of $3,608,455.10. Following the completion of the sale, the chief executive officer owned 15,174 shares of the company’s stock, valued at $5,219,704.26. The trade was a 40.87% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In related news, CEO Ryan Mcinerney sold 20,970 shares of the business’s stock in a transaction on Monday, June 29th. The shares were sold at an average price of $340.25, for a total transaction of $7,135,042.50. Following the transaction, the chief executive officer owned 15,174 shares of the company’s stock, valued at approximately $5,162,953.50. The trade was a 58.02% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Analyst Upgrades and Downgrades

A number of equities analysts have recently commented on V shares. Oppenheimer reaffirmed an “outperform” rating and set a $403.00 price objective (up from $391.00) on shares of Visa in a report on Wednesday, April 29th. UBS Group raised their price target on Visa from $390.00 to $410.00 and gave the stock a “buy” rating in a research report on Wednesday, April 29th. Sanford C. Bernstein restated an “outperform” rating and issued a $450.00 price target on shares of Visa in a report on Tuesday, June 2nd. Raymond James Financial reissued an “outperform” rating and issued a $389.00 price target on shares of Visa in a research note on Wednesday, April 29th. Finally, Truist Financial set a $371.00 price objective on Visa and gave the stock a “buy” rating in a research report on Tuesday, May 12th. Six investment analysts have rated the stock with a Strong Buy rating, eighteen have given a Buy rating and two have assigned a Hold rating to the company. According to MarketBeat, the company has a consensus rating of “Buy” and a consensus price target of $397.39.

Key Stories Impacting Visa

Here are the key news stories impacting Visa this week:

• Positive Sentiment: Visa is being highlighted as poised to beat upcoming earnings estimates again, supported by its strong history of earnings surprises and favorable setup for another quarterly outperformance. Why Visa (V) is Poised to Beat Earnings Estimates Again
• Positive Sentiment: Visa is also being described as a strong long-term holding, reinforcing the view that investors see durable business quality and attractive portfolio fit. Why Visa (V) is a Top Stock for the Long-Term
• Positive Sentiment: Visa’s stablecoin analytics showed record June transaction volume of $1.79 trillion, suggesting continued growth in digital payments activity and potential upside from crypto-linked payment rails. Stablecoin transaction volume hits record $1.79T in June
• Positive Sentiment: Visa was included in a note discussing Bank of America’s top U.S. Q3 stock picks, which can support investor confidence in the name. 4 of Bank of America’s Top US Q3 Picks Pay Dividends With Double-Digit Upside Potential
• Neutral Sentiment: One commentary argued Visa is fundamentally strong but preferred waiting for a better entry point, which is more of a valuation caution than a business concern. Visa Is Fundamentally Robust, But I’ll Wait For Better Entry Points
• Neutral Sentiment: Analyst-focused pieces and broader market commentary were generally supportive, but they do not appear to introduce a major new catalyst on their own. Is It Worth Investing in Visa (V) Based on Wall Street’s Bullish Views?

Visa Stock Performance

The stock’s 50 day moving average is $327.17 and its 200 day moving average is $324.74. The company has a current ratio of 1.09, a quick ratio of 1.09 and a debt-to-equity ratio of 0.64. The firm has a market cap of $640.77 billion, a price-to-earnings ratio of 31.12, a price-to-earnings-growth ratio of 1.93 and a beta of 0.75.

Visa (NYSE:V) last issued its quarterly earnings data on Tuesday, April 28th. The credit-card processor reported $3.31 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $3.10 by $0.21. Visa had a return on equity of 65.00% and a net margin of 51.68%.The company had revenue of $11.23 billion during the quarter, compared to analysts’ expectations of $10.75 billion. During the same quarter in the previous year, the company posted $2.76 earnings per share. The business’s revenue was up 17.1% on a year-over-year basis. Analysts anticipate that Visa Inc. will post 13.1 earnings per share for the current year.

Visa Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Monday, June 1st. Investors of record on Tuesday, May 12th were paid a $0.67 dividend. The ex-dividend date was Tuesday, May 12th. This represents a $2.68 annualized dividend and a yield of 0.8%. Visa’s payout ratio is 23.34%.

Visa announced that its board has initiated a stock buyback plan on Tuesday, April 28th that permits the company to repurchase $20.00 billion in shares. This repurchase authorization permits the credit-card processor to purchase up to 3.6% of its stock through open market purchases. Stock repurchase plans are often a sign that the company’s board of directors believes its stock is undervalued.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in V. Clayton Financial Group LLC raised its position in shares of Visa by 446.2% in the 4th quarter. Clayton Financial Group LLC now owns 71 shares of the credit-card processor’s stock valued at $25,000 after buying an additional 58 shares in the last quarter. PayPay Securities Corp boosted its position in shares of Visa by 102.7% during the 4th quarter. PayPay Securities Corp now owns 75 shares of the credit-card processor’s stock worth $26,000 after acquiring an additional 38 shares in the last quarter. Cresta Advisors Ltd. acquired a new stake in shares of Visa during the 4th quarter worth approximately $26,000. Parvin Asset Management LLC increased its stake in Visa by 200.0% in the third quarter. Parvin Asset Management LLC now owns 75 shares of the credit-card processor’s stock valued at $26,000 after acquiring an additional 50 shares during the last quarter. Finally, Dorato Capital Management acquired a new position in Visa during the fourth quarter valued at approximately $30,000. 82.15% of the stock is owned by institutional investors and hedge funds.

Visa Company Profile

Visa Inc is a global payments technology company that facilitates electronic funds transfers and digital commerce by connecting consumers, merchants, financial institutions and governments. The firm operates one of the world’s largest payment networks, providing processing, authorization, clearing and settlement services for credit, debit and prepaid card transactions. Visa’s network-based model enables partner banks and other issuers to offer branded payment products while Visa focuses on the infrastructure, standards and technologies that move money securely and efficiently around the world.

Visa’s product and service portfolio includes card-based payment products for consumers and businesses, real-time push-payment capabilities, tokenization and authentication services, fraud and risk-management tools, data analytics and APIs for fintech and merchant integration.