Visa (NYSE:V) Stock: Insider Julie Rottenberg Sells 1,867 Shares

Visa Inc. (NYSE:V) General Counsel Julie Rottenberg sold 1,867 shares of the company’s stock in a transaction that occurred on Monday, November 9th. The shares were sold at an average price of $423.00, for a total value of $789,741.00. Following the completion of the transaction, the general counsel directly owned 18,404 shares of the company’s stock, valued at $7,784,892. This trade represents a 9.21% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Visa Stock Performance

Shares of Visa stock opened at $425.56 on Thursday. The firm has a market capitalization of $759.37 billion, a P/E ratio of 34.51, a P/E/G ratio of 1.80 and a beta of 0.80. Visa Inc. has a 52 week low of $293.89 and a 52 week high of $442.23. The company has a quick ratio of 0.97, a current ratio of 0.97 and a debt-to-equity ratio of 0.54. The firm’s 50 day moving average is $388.61 and its two-hundred day moving average is $346.16.

Visa (NYSE:V) last released its quarterly earnings data on Tuesday, October 27th. The credit-card processor reported $3.48 earnings per share for the quarter, topping analysts’ consensus estimates of $3.44 by $0.04. The company had revenue of $12.14 billion for the quarter, compared to analysts’ expectations of $12.09 billion. Visa had a net margin of 51.20% and a return on equity of 70.50%. The firm’s revenue for the quarter was up 13.2% on a year-over-year basis. During the same quarter last year, the company earned $2.98 earnings per share. Research analysts forecast that Visa Inc. will post 15.02 EPS for the current fiscal year.

Visa Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, December 1st. Investors of record on Tuesday, November 10th will be given a $0.78 dividend. This is a positive change from Visa’s previous quarterly dividend of $0.67. The ex-dividend date of this dividend is Tuesday, November 10th. This represents a $3.12 dividend on an annualized basis and a dividend yield of 0.7%. Visa’s payout ratio is 25.30%.

Analyst Upgrades and Downgrades

Several brokerages recently commented on V. Wolfe Research reiterated an “outperform” rating and set a $460.00 price target (up from $435.00) on shares of Visa in a research note on Tuesday, August 25th. JPMorgan Chase & Co. upped their price objective on shares of Visa from $450.00 to $455.00 and gave the company an “overweight” rating in a research note on Wednesday, October 28th. Morgan Stanley reaffirmed an “overweight” rating and set a $471.00 price objective (up from $416.00) on shares of Visa in a report on Wednesday, October 28th. Oppenheimer lifted their target price on Visa from $403.00 to $440.00 and gave the stock an “outperform” rating in a research report on Wednesday, October 28th. Finally, Robert W. Baird lifted their target price on Visa from $420.00 to $430.00 and gave the stock an “outperform” rating in a research report on Monday, October 12th. Two investment analysts have rated the stock with a Strong Buy rating and thirty-five have assigned a Buy rating to the stock. Based on data from MarketBeat, Visa presently has an average rating of “Buy” and a consensus price target of $443.35.

Hedge Funds Weigh In On Visa

A number of institutional investors have recently modified their holdings of the business. XXEC Inc. grew its position in Visa by 153,118.8% during the 2nd quarter. XXEC Inc. now owns 186,260,448 shares of the credit-card processor’s stock worth $63,904,097,000 after purchasing an additional 186,138,883 shares during the last quarter. State Street Corp boosted its stake in shares of Visa by 0.7% during the second quarter. State Street Corp now owns 82,872,209 shares of the credit-card processor’s stock worth $28,432,626,000 after buying an additional 566,194 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its holdings in shares of Visa by 13.0% during the second quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 15,720,068 shares of the credit-card processor’s stock worth $5,393,398,000 after buying an additional 1,808,496 shares during the last quarter. Dimensional Fund Advisors LP grew its holdings in shares of Visa by 3.7% during the first quarter. Dimensional Fund Advisors LP now owns 8,842,842 shares of the credit-card processor’s stock worth $2,672,655,000 after buying an additional 316,559 shares during the last quarter. Finally, Amundi increased its position in Visa by 16.5% in the 2nd quarter. Amundi now owns 7,714,919 shares of the credit-card processor’s stock valued at $2,646,911,000 after acquiring an additional 1,092,315 shares during the period. 82.15% of the stock is owned by institutional investors and hedge funds.

Visa Company Profile

Visa Inc. operates a global payments network that connects consumers, merchants, financial institutions and governments. Its network supports the authorization, clearing and settlement of electronic payments, including transactions made in person and online. The company’s services include payment processing, fraud prevention, identity and risk management, and money-transfer solutions such as Visa Direct. Visa-branded credit, debit and prepaid cards are issued by participating financial institutions; Visa generally provides the network and related services rather than issuing cards or extending credit directly to consumers.