Traders Sell Visa Inc. (V) on Strength (V)
Traders sold shares of Visa Inc. (NYSE:V) on strength during trading hours on Thursday. $74.62 million flowed into the stock on the tick-up and $103.60 million flowed out of the stock on the tick-down, for a money net flow of $28.98 million out of the stock. Of all companies tracked, Visa had the 0th highest net out-flow for the day. Visa traded up $0.40 for the day and closed at $81.30
Several analysts recently commented on V shares. Vetr upgraded Visa from a “hold” rating to a “buy” rating and set a $83.88 target price on the stock in a research report on Monday, June 6th. Goldman Sachs Group Inc. restated a “buy” rating on shares of Visa in a research report on Tuesday, May 31st. Robert W. Baird restated a “buy” rating on shares of Visa in a research report on Monday, May 16th. Oppenheimer Holdings Inc. raised their target price on Visa from $85.00 to $90.00 and gave the company a “buy” rating in a research report on Friday, June 10th. Finally, Sanford C. Bernstein restated a “buy” rating on shares of Visa in a research report on Wednesday, June 15th. Four equities research analysts have rated the stock with a hold rating and thirty have issued a buy rating to the company’s stock. The company has an average rating of “Buy” and an average target price of $88.26.
The stock’s 50-day moving average is $79.72 and its 200 day moving average is $77.29. The stock has a market cap of $191.86 billion and a PE ratio of 34.55.
Visa (NYSE:V) last announced its earnings results on Thursday, July 21st. The credit-card processor reported $0.69 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.66 by $0.03. The company earned $3.63 billion during the quarter, compared to analyst estimates of $3.67 billion. Equities research analysts anticipate 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. Investors of record on Friday, August 19th will be paid a $0.14 dividend. This represents a $0.56 dividend on an annualized basis and a yield of 0.69%. The ex-dividend date is Wednesday, August 17th.
Other institutional investors recently made changes to their positions in the company. Eaton Vance Management raised its position in shares of 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 last quarter. P.A.W. Capital Corp bought a new position in shares of Visa during the fourth quarter worth $1,163,000. Gluskin Sheff & Assoc Inc. raised its position in shares of 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 last quarter. Suntrust Banks Inc. raised its position in shares of 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 last quarter. Finally, Bronfman E.L. Rothschild L.P. bought a new position in shares of Visa during the fourth quarter worth $1,766,000.
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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