Traders Buy Shares of Visa Inc. (V) on Weakness
Investors purchased shares of Visa Inc. (NYSE:V) on weakness during trading hours on Wednesday. $269.75 million flowed into the stock on the tick-up and $43.45 million flowed out of the stock on the tick-down, for a money net flow of $226.30 million into the stock. Of all stocks tracked, Visa had the 3rd highest net in-flow for the day. Visa traded down ($0.27) for the day and closed at $80.90
A number of research analysts have issued reports on V shares. William Blair restated an “outperform” rating on shares of Visa in a research note on Friday, May 6th. Vetr lowered shares of Visa from a “buy” rating to a “hold” rating and set a $81.05 price target on the stock. in a research note on Monday, May 9th. Barclays PLC restated an “overweight” rating and set a $90.00 price target (up previously from $89.00) on shares of Visa in a research note on Monday, May 16th. Robert W. Baird reaffirmed a “buy” rating on shares of Visa in a report on Monday, May 16th. Finally, Keefe, Bruyette & Woods reaffirmed an “outperform” rating and issued a $95.00 price objective on shares of Visa in a report on Thursday, May 26th. Four research analysts have rated the stock with a hold rating and thirty have assigned a buy rating to the company. Visa has a consensus rating of “Buy” and an average target price of $88.26.
The stock has a 50 day moving average of $79.62 and a 200-day moving average of $77.26. The stock has a market capitalization of $190.92 billion and a PE ratio of 34.38.
Visa (NYSE:V) last posted its quarterly earnings data on Thursday, July 21st. The credit-card processor reported $0.69 earnings per share for the quarter, beating analysts’ consensus estimates of $0.66 by $0.03. The firm earned $3.63 billion during the quarter, compared to analysts’ expectations of $3.67 billion. On average, equities analysts predict that Visa Inc. will post $2.79 EPS for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 6th. Investors of record on Friday, August 19th will be given a $0.14 dividend. The ex-dividend date is Wednesday, August 17th. This represents a $0.56 dividend on an annualized basis and a yield of 0.69%.
A number of institutional investors have recently bought and sold shares of the stock. Eaton Vance Management raised its position in Visa by 3.3% in the fourth quarter. Eaton Vance Management now owns 4,230,833 shares of the credit-card processor’s stock worth $328,101,000 after buying an additional 136,248 shares during the period. Suntrust Banks Inc. raised its position in Visa by 6.0% in the fourth quarter. Suntrust Banks Inc. now owns 1,112,165 shares of the credit-card processor’s stock worth $86,247,000 after buying an additional 62,490 shares during the period. Whittier Trust Co. raised its position in Visa by 3.3% in the fourth quarter. Whittier Trust Co. now owns 349,459 shares of the credit-card processor’s stock worth $27,097,000 after buying an additional 11,182 shares during the period. Gluskin Sheff & Assoc Inc. raised its position in Visa by 938.1% in the fourth quarter. Gluskin Sheff & Assoc Inc. now owns 335,511 shares of the credit-card processor’s stock worth $26,019,000 after buying an additional 303,190 shares during the period. Finally, Andra AP fonden raised its position in Visa by 2.4% in the fourth quarter. Andra AP fonden now owns 223,000 shares of the credit-card processor’s stock worth $17,294,000 after buying an additional 5,300 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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