Traders Buy Shares of Visa Inc. (V) on Weakness
Traders 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 stocks 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
V has been the subject of a number of research reports. Vetr raised Visa from a “hold” rating to a “buy” rating and set a $83.88 target price for the company in a report on Monday, June 6th. Goldman Sachs Group Inc. reaffirmed a “buy” rating on shares of Visa in a report on Tuesday, May 31st. Robert W. Baird reaffirmed a “buy” rating on shares of Visa in a report on Monday, May 16th. Oppenheimer Holdings Inc. lifted their target price on Visa from $85.00 to $90.00 and gave the stock a “buy” rating in a report on Friday, June 10th. Finally, Sanford C. Bernstein reaffirmed a “buy” rating on shares of Visa in a report on Wednesday, June 15th. Four investment analysts have rated the stock with a hold rating and thirty have assigned a buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and an average target price of $88.26.
The company’s 50-day moving average price is $79.72 and its 200-day moving average price is $77.29. The firm has a market cap of $191.86 billion and a price-to-earnings ratio of 34.55.
Visa (NYSE:V) last announced its quarterly earnings data on Thursday, July 21st. The credit-card processor reported $0.69 EPS for the quarter, beating 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. Analysts forecast that Visa Inc. will post $2.79 earnings per share for the current year.
The company also recently announced a quarterly dividend, which will be paid on Tuesday, September 6th. Investors 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 0.69%. The ex-dividend date of this dividend is Wednesday, August 17th.
A number of hedge funds and institutional investors have recently modified their holdings of the stock. P.A.W. Capital Corp purchased a new position in shares of Visa during the fourth quarter worth $1,163,000. Lipe & Dalton purchased a new position in shares of Visa during the fourth quarter worth $1,278,000. Hodges Capital Management Inc. boosted its position 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 worth $1,279,000 after buying an additional 1,380 shares during the last quarter. Parsons Capital Management Inc. RI boosted its position in shares of Visa by 22.7% in the fourth quarter. Parsons Capital Management Inc. RI now owns 21,596 shares of the credit-card processor’s stock worth $1,675,000 after buying an additional 3,997 shares during the last quarter. Finally, Bronfman E.L. Rothschild L.P. purchased a new position 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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