Investors Sell Shares of Visa Inc. (V) on Strength (V)
Investors sold shares of Visa Inc. (NYSE:V) on strength during trading hours on Tuesday. $80.15 million flowed into the stock on the tick-up and $91.74 million flowed out of the stock on the tick-down, for a money net flow of $11.59 million out of the stock. Of all equities tracked, Visa had the 0th highest net out-flow for the day. Visa traded up $0.02 for the day and closed at $78.28
Several brokerages have commented on V. Goldman Sachs Group Inc. reissued a “buy” rating and set a $97.00 price objective (up previously from $86.00) on shares of Visa in a research report on Friday, April 22nd. Robert W. Baird reaffirmed a “buy” rating on shares of Visa in a research report on Sunday, April 17th. Zacks Investment Research raised Visa from a “hold” rating to a “buy” rating and set a $88.00 price target for the company in a research report on Tuesday, July 19th. Vetr raised Visa from a “buy” rating to a “strong-buy” rating and set a $85.82 price target for the company in a research report on Wednesday, June 22nd. Finally, Barclays PLC lowered their price target on Visa from $90.00 to $88.00 and set an “overweight” rating for the company in a research report on Thursday, July 7th. Three analysts have rated the stock with a hold rating and thirty-one have given a buy rating to the company. The stock currently has an average rating of “Buy” and a consensus target price of $87.91.
The stock has a market cap of $184.74 billion and a price-to-earnings ratio of 33.27. The stock has a 50-day moving average price of $77.22 and a 200-day moving average price of $75.97.
Visa (NYSE:V) last issued its quarterly earnings results on Thursday, July 21st. The credit-card processor reported $0.69 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.66 by $0.03. The firm earned $3.63 billion during the quarter, compared to analyst estimates of $3.67 billion. On average, analysts forecast that Visa Inc. will post $2.79 earnings per share for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 6th. Investors of record on Friday, August 19th will be given a dividend of $0.14 per share. The ex-dividend date of this dividend is Wednesday, August 17th. This represents a $0.56 dividend on an annualized basis and a yield of 0.72%.
Other institutional investors recently made changes to their positions in the company. American International Group Inc. increased its position in shares of Visa by 5.4% in the fourth quarter. American International Group Inc. now owns 862,714 shares of the credit-card processor’s stock worth $66,903,000 after buying an additional 43,858 shares during the last quarter. Alta Park Capital LP bought a new position in shares of Visa during the fourth quarter worth approximately $2,218,000. KBC Group NV increased its position in shares of 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 last quarter. State of Tennessee Treasury Department increased its position in shares of 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 last quarter. Finally, Genesee Valley Trust Co. increased its position 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 worth $2,685,000 after buying an additional 693 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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