Traders Buy Visa Inc. (V) on Weakness
Investors bought shares of Visa Inc. (NYSE:V) on weakness during trading on Thursday. $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 companies 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
Several research analysts have weighed in on V shares. Sanford C. Bernstein reiterated a “buy” rating on shares of Visa in a research report on Wednesday, June 15th. Argus restated a “buy” rating and set a $90.00 price objective (up from $85.00) on shares of Visa in a research report on Monday, July 25th. Vetr downgraded shares of Visa from a “buy” rating to a “hold” rating and set a $80.66 price objective on the stock. in a research report on Tuesday, May 17th. Finally, Piper Jaffray Cos. restated an “overweight” rating and set a $94.00 price objective on shares of Visa in a research report on Friday, August 5th. Four equities research analysts have rated the stock with a hold rating and thirty have given a buy rating to the company’s stock. The company currently has an average rating of “Buy” and a consensus target price of $88.26.
The stock has a 50-day moving average price of $79.83 and a 200 day moving average price of $77.32. The stock has a market cap of $193.52 billion and a PE ratio of 34.85.
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 Thomson Reuters’ consensus estimate of $0.66 by $0.03. The company had revenue of $3.63 billion for the quarter, compared to analysts’ expectations of $3.67 billion. On average, analysts forecast that Visa Inc. will post $2.79 earnings per share for the current 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 paid a dividend of $0.14 per share. This represents a $0.56 annualized dividend and a yield of 0.68%. The ex-dividend date of this dividend is Wednesday, August 17th.
Several hedge funds have modified their holdings of the company. Genesee Valley Trust Co. boosted its stake in shares of Visa by 2.0% in the fourth quarter. Genesee Valley Trust Co. now owns 34,629 shares of the credit-card processor’s stock valued at $2,685,000 after buying an additional 693 shares in the last quarter. 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 valued at $26,019,000 after buying an additional 303,190 shares in the last quarter. 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 in the last quarter. Bronfman E.L. Rothschild L.P. acquired a new stake in shares of Visa during the fourth quarter valued at about $1,766,000. Finally, Pittenger & Anderson Inc. boosted its stake in shares of Visa by 0.4% in the fourth quarter. Pittenger & Anderson Inc. now owns 107,227 shares of the credit-card processor’s stock valued at $8,315,000 after buying an additional 460 shares in 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.