Investors Sell Shares of Visa Inc. (V) on Strength (V)
Traders sold shares of Visa Inc. (NYSE:V) on strength during trading on Thursday. $92.82 million flowed into the stock on the tick-up and $193.51 million flowed out of the stock on the tick-down, for a money net flow of $100.69 million out of the stock. Of all equities tracked, Visa had the 0th highest net out-flow for the day. Visa traded up $0.66 for the day and closed at $79.19
A number of analysts recently issued reports on the company. Sanford C. Bernstein reissued a “buy” rating and set a $90.00 price objective on shares of Visa in a report on Saturday, April 2nd. Robert W. Baird reaffirmed a “buy” rating on shares of Visa in a report on Sunday, April 17th. Goldman Sachs Group Inc. reaffirmed a “buy” rating and issued a $97.00 price target (up previously from $86.00) on shares of Visa in a report on Friday, April 22nd. Zacks Investment Research raised Visa from a “hold” rating to a “buy” rating and set a $88.00 price target on the stock in a report on Tuesday, July 19th. Finally, Vetr raised Visa from a “buy” rating to a “strong-buy” rating and set a $85.82 price target on the stock in a report on Wednesday, June 22nd. Three equities research analysts have rated the stock with a hold rating and thirty-one have issued a buy rating to the company’s stock. The stock has an average rating of “Buy” and an average target price of $87.91.
The company has a 50 day moving average of $77.37 and a 200 day moving average of $75.84. The stock has a market capitalization of $186.88 billion and a P/E ratio of 33.65.
Visa (NYSE:V) last announced its quarterly earnings data on Thursday, July 21st. The credit-card processor reported $0.69 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.66 by $0.03. The firm earned $3.63 billion during the quarter, compared to the consensus estimate of $3.67 billion. On average, equities research analysts forecast that Visa Inc. will post $2.79 EPS for the current fiscal year.
The business also recently announced a quarterly dividend, which will be paid on Tuesday, September 6th. Shareholders of record on Friday, August 19th will be given a dividend of $0.14 per share. The ex-dividend date of this dividend is Wednesday, August 17th. This represents a $0.56 annualized dividend and a yield of 0.71%.
A number of hedge funds recently made changes to their positions in the stock. Birinyi Associates Inc. boosted its stake 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 valued at $1,020,000 after buying an additional 262 shares during the period. P.A.W. Capital Corp bought 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 period. Lipe & Dalton bought 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 period.
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.
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