Traders Sell Shares of Visa Inc. (V) on Strength (V)
Investors sold shares of Visa Inc. (NYSE:V) on strength during trading hours on Wednesday. $113.62 million flowed into the stock on the tick-up and $201.73 million flowed out of the stock on the tick-down, for a money net flow of $88.11 million out of the stock. Of all companies tracked, Visa had the 0th highest net out-flow for the day. Visa traded up $0.04 for the day and closed at $78.53
Several brokerages have issued reports on V. Sanford C. Bernstein reiterated a “buy” rating and set a $90.00 target price on shares of Visa in a research report on Saturday, April 2nd. Robert W. Baird reiterated a “buy” rating on shares of Visa in a research report on Sunday, April 17th. Goldman Sachs Group Inc. reiterated a “buy” rating and set a $97.00 target price (up from $86.00) on shares of Visa in a research report on Friday, April 22nd. Zacks Investment Research upgraded shares of Visa from a “hold” rating to a “buy” rating and set a $88.00 target price for the company in a research report on Tuesday, July 19th. Finally, Vetr upgraded shares of Visa from a “buy” rating to a “strong-buy” rating and set a $85.82 target price for the company in a research report on Wednesday, June 22nd. Four analysts have rated the stock with a hold rating and thirty-one have issued a buy rating to the company. The stock presently has an average rating of “Buy” and a consensus price target of $87.66.
The company has a market cap of $187.32 billion and a P/E ratio of 33.70. The firm’s 50 day moving average is $77.44 and its 200-day moving average is $75.81.
Visa (NYSE:V) last announced its quarterly earnings results on Thursday, July 21st. The credit-card processor reported $0.69 earnings per share for the quarter, beating the 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. Equities research analysts forecast 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. Stockholders of record on Friday, August 19th will be given a $0.14 dividend. This represents a $0.56 dividend on an annualized basis and a dividend yield of 0.71%. The ex-dividend date of this dividend is Wednesday, August 17th.
Other hedge funds have bought and sold shares of the company. Alta Park Capital LP acquired a new stake in Visa during the fourth quarter worth approximately $2,218,000. KBC Group NV boosted its stake in Visa by 2.8% in the fourth quarter. KBC Group NV now owns 473,821 shares of the credit-card processor’s stock worth $36,745,000 after buying an additional 13,033 shares during the period. State of Tennessee Treasury Department boosted its stake in Visa by 0.4% in the fourth quarter. State of Tennessee Treasury Department now owns 1,339,002 shares of the credit-card processor’s stock worth $103,840,000 after buying an additional 4,866 shares during the period. Genesee Valley Trust Co. boosted its stake in Visa by 2.0% in the fourth quarter. Genesee Valley Trust Co. now owns 34,629 shares of the credit-card processor’s stock worth $2,685,000 after buying an additional 693 shares during the period. Finally, Gluskin Sheff & Assoc Inc. boosted its stake 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.
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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