Traders Buy Visa Inc. (V) on Weakness
Investors purchased shares of Visa Inc. (NYSE:V) on weakness during trading hours on Monday. $199.02 million flowed into the stock on the tick-up and $129.62 million flowed out of the stock on the tick-down, for a money net flow of $69.40 million into the stock. Of all companies tracked, Visa had the 5th highest net in-flow for the day. Visa traded down ($0.97) for the day and closed at $78.94
Several analysts recently commented on the stock. Sterne Agee CRT reissued a “buy” rating on shares of Visa in a research report on Saturday, April 9th. Sanford C. Bernstein reissued a “buy” rating and set a $90.00 price objective on shares of Visa in a research report on Saturday, April 2nd. Robert W. Baird reissued a “buy” rating on shares of Visa in a research report on Sunday, April 17th. Piper Jaffray Cos. reissued a “buy” rating and set a $92.00 price objective (up from $87.00) on shares of Visa in a research report on Saturday, April 23rd. Finally, Argus reissued a “buy” rating and set a $90.00 price objective (up from $85.00) on shares of Visa in a research report on Monday. Four equities research analysts have rated the stock with a hold rating and thirty-two have given a buy rating to the stock. The stock has a consensus rating of “Buy” and an average price target of $87.76.
The stock has a market capitalization of $188.30 billion and a price-to-earnings ratio of 33.88. The company has a 50-day moving average price of $77.56 and a 200 day moving average price of $75.75.
Visa (NYSE:V) last issued its earnings results on Thursday, July 21st. The credit-card processor reported $0.69 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.66 by $0.03. The company earned $3.63 billion during the quarter, compared to analysts’ expectations of $3.67 billion. Analysts predict that Visa Inc. will post $2.79 EPS for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Tuesday, September 6th. Investors of record on Friday, August 19th will be issued a $0.14 dividend. This represents a $0.56 dividend on an annualized basis and a yield of 0.71%. The ex-dividend date of this dividend is Wednesday, August 17th.
A number of hedge funds and institutional investors have modified their holdings of V. Birinyi Associates Inc. increased its position in shares of Visa by 2.0% in the fourth quarter. Birinyi Associates Inc. now owns 13,150 shares of the credit-card processor’s stock worth $1,020,000 after buying an additional 262 shares in the last quarter. P.A.W. Capital Corp purchased a new stake in shares of Visa during the fourth quarter valued at about $1,163,000. Westbourne Investment Advisors Inc. boosted its stake in shares of Visa by 114.3% in the fourth quarter. Westbourne Investment Advisors Inc. now owns 15,225 shares of the credit-card processor’s stock valued at $1,181,000 after buying an additional 8,120 shares during the last quarter. Lipe & Dalton purchased a new stake in shares of Visa during the fourth quarter valued at about $1,278,000. Finally, Hodges Capital Management Inc. boosted its stake in shares of Visa by 9.1% in the fourth quarter. Hodges Capital Management Inc. now owns 16,489 shares of the credit-card processor’s stock valued at $1,279,000 after buying an additional 1,380 shares during the last quarter.
Visa Inc is a payments technology company. The Company is engaged in operating a processing network, VisaNet, which facilitates authorization, clearing and settlement of payment transactions across the world. The Company provides its services to consumers, businesses, financial institutions and governments in more than 200 countries and territories for electronic payments.
Get Analysts' Upgrades and Downgrades Daily - Enter your email address below to receive a concise daily summary of analysts' upgrades, downgrades and new coverage with MarketBeat.com's FREE daily email newsletter.