Investors Sell Shares of Visa Inc. (V) on Strength (V)
Traders sold shares of Visa Inc. (NYSE:V) on strength during trading 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 equities 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
V has been the subject of a number of recent research reports. Sanford C. Bernstein restated a “buy” rating on shares of Visa in a report on Wednesday, June 15th. Argus restated a “buy” rating and issued a $90.00 price objective (up from $85.00) on shares of Visa in a report on Monday, July 25th. Vetr downgraded Visa from a “buy” rating to a “hold” rating and set a $80.66 price target for the company. in a report on Tuesday, May 17th. Finally, Piper Jaffray Cos. reiterated an “overweight” rating and set a $94.00 price target on shares of Visa in a report on Friday, August 5th. Four analysts have rated the stock with a hold rating and thirty have given a buy rating to the company. The company presently has an average rating of “Buy” and an average target price of $88.26.
The firm’s 50-day moving average price is $79.83 and its 200-day moving average price is $77.32. The firm has a market capitalization of $193.52 billion and a price-to-earnings ratio of 34.85.
Visa (NYSE:V) last announced its quarterly earnings data 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 business earned $3.63 billion during the quarter, compared to analysts’ expectations of $3.67 billion. Equities research analysts predict that Visa Inc. will post $2.79 earnings per share for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 6th. Shareholders 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 0.68%. The ex-dividend date is Wednesday, August 17th.
A number of large investors have made changes to their positions in the company. Gluskin Sheff & Assoc Inc. boosted its stake 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 period. Eaton Vance Management boosted its stake 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 period. Advisors Asset Management Inc. boosted its stake in shares of Visa by 47.0% in the fourth quarter. Advisors Asset Management Inc. now owns 205,557 shares of the credit-card processor’s stock worth $15,941,000 after buying an additional 65,744 shares during the period. Suntrust Banks Inc. boosted its stake 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 period. Finally, Bronfman E.L. Rothschild L.P. acquired a new stake 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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