Traders Sell Visa Inc. (V) on Strength (V)
Traders sold shares of Visa Inc. (NYSE:V) on strength during trading hours on Tuesday. $102.37 million flowed into the stock on the tick-up and $301.43 million flowed out of the stock on the tick-down, for a money net flow of $199.06 million out of the stock. Of all stocks tracked, Visa had the 2nd highest net out-flow for the day. Visa traded up $0.41 for the day and closed at $78.72
A number of equities analysts have recently commented on V shares. Sanford C. Bernstein restated a “buy” rating on shares of Visa in a research note on Wednesday, June 15th. Vetr downgraded shares of Visa from a “buy” rating to a “hold” rating and set a $80.66 price objective for the company. in a research note on Tuesday, May 17th. Compass Point started coverage on shares of Visa in a research note on Friday, April 15th. They set a “neutral” rating and a $80.00 price objective for the company. Finally, Oppenheimer Holdings Inc. restated a “buy” rating on shares of Visa in a research note on Tuesday, April 19th. Six equities research analysts have rated the stock with a hold rating and twenty-nine have assigned a buy rating to the company. The company has an average rating of “Buy” and a consensus price target of $86.55.
The company has a market capitalization of $187.77 billion and a PE ratio of 27.44. The firm’s 50 day moving average is $77.59 and its 200-day moving average is $75.64.
Visa (NYSE:V) last issued its quarterly earnings results on Thursday, April 21st. The credit-card processor reported $0.68 EPS for the quarter, topping the Zacks’ consensus estimate of $0.67 by $0.01. The company earned $3.60 billion during the quarter, compared to the consensus estimate of $3.60 billion. Visa’s quarterly revenue was up 6.4% on a year-over-year basis. During the same period in the previous year, the company earned $0.63 EPS. On average, analysts predict that Visa Inc. will post $2.78 EPS for the current year.
The business also recently declared a quarterly dividend, which will be paid on Tuesday, September 6th. Stockholders 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 dividend yield of 0.71%.
Other institutional investors have added to or reduced their stakes in the company. Seven Bridges Advisors LLC acquired a new position in Visa during the fourth quarter valued at approximately $2,147,000. Smith Asset Management Group LP acquired a new position in Visa during the fourth quarter valued at approximately $2,213,000. Patriot Wealth Management Inc. raised its position in Visa by 0.3% in the fourth quarter. Patriot Wealth Management Inc. now owns 65,654 shares of the credit-card processor’s stock valued at $5,091,000 after buying an additional 204 shares in the last quarter. Swiss National Bank boosted its stake in shares of Visa by 1.0% in the fourth quarter. Swiss National Bank now owns 3,977,928 shares of the credit-card processor’s stock valued at $308,488,000 after buying an additional 38,000 shares during the last quarter. Finally, Pictet & Cie Europe SA boosted its stake in shares of Visa by 9.6% in the fourth quarter. Pictet & Cie Europe SA now owns 28,837 shares of the credit-card processor’s stock valued at $2,236,000 after buying an additional 2,525 shares during 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.
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