Investors Buy Shares of Visa Inc. (NYSE:V) on Weakness
Traders bought shares of Visa Inc. (NYSE:V) on weakness during trading hours on Thursday. $234.87 million flowed into the stock on the tick-up and $160.80 million flowed out of the stock on the tick-down, for a money net flow of $74.07 million into the stock. Of all stocks tracked, Visa had the 10th highest net in-flow for the day. Visa traded down ($1.28) for the day and closed at $99.57
Several equities analysts have weighed in on V shares. Oppenheimer Holdings, Inc. raised their target price on Visa from $100.00 to $106.00 in a report on Tuesday, July 18th. Instinet restated a “buy” rating and set a $105.00 target price (up from $103.00) on shares of Visa in a report on Sunday, April 23rd. Jefferies Group LLC restated a “buy” rating and set a $104.00 target price on shares of Visa in a report on Sunday, April 23rd. Vetr upgraded Visa from a “hold” rating to a “buy” rating and set a $95.32 target price on the stock in a report on Thursday, April 27th. Finally, Citigroup Inc. restated a “buy” rating and set a $100.00 target price on shares of Visa in a report on Thursday, May 25th. Five analysts have rated the stock with a hold rating, twenty-five have given a buy rating and two have given a strong buy rating to the company’s stock. Visa has a consensus rating of “Buy” and an average price target of $104.35.
The stock has a market capitalization of $227.66 billion, a P/E ratio of 37.03 and a beta of 0.93. The stock’s 50-day moving average price is $95.78 and its 200-day moving average price is $90.60.
Visa (NYSE:V) last posted its quarterly earnings results on Thursday, July 20th. The credit-card processor reported $0.86 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.81 by $0.05. The business had revenue of $4.57 billion for the quarter, compared to analyst estimates of $4.36 billion. Visa had a net margin of 36.53% and a return on equity of 30.95%. The firm’s revenue for the quarter was up 25.8% on a year-over-year basis. During the same quarter last year, the business posted $0.69 EPS. On average, equities analysts forecast that Visa Inc. will post $3.42 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Tuesday, September 5th. Investors of record on Friday, August 18th will be given a dividend of $0.165 per share. The ex-dividend date of this dividend is Wednesday, August 16th. This represents a $0.66 annualized dividend and a dividend yield of 0.66%. Visa’s dividend payout ratio is 24.54%.
Visa announced that its board has initiated a stock buyback program on Thursday, April 20th that permits the company to buyback $5.00 billion in outstanding shares. This buyback authorization permits the credit-card processor to reacquire up to 2.4% of its stock through open market purchases. Stock buyback programs are often a sign that the company’s management believes its stock is undervalued.
Several hedge funds have recently bought and sold shares of the company. David R. Rahn & Associates Inc. purchased a new stake in Visa during the second quarter valued at about $641,000. Lyell Wealth Management LP raised its stake in Visa by 412.2% in the second quarter. Lyell Wealth Management LP now owns 12,662 shares of the credit-card processor’s stock valued at $1,187,000 after buying an additional 10,190 shares in the last quarter. CAPROCK Group Inc. raised its stake in Visa by 9.4% in the second quarter. CAPROCK Group Inc. now owns 15,454 shares of the credit-card processor’s stock valued at $1,449,000 after buying an additional 1,332 shares in the last quarter. Nwam LLC raised its stake in Visa by 13.0% in the second quarter. Nwam LLC now owns 6,738 shares of the credit-card processor’s stock valued at $632,000 after buying an additional 776 shares in the last quarter. Finally, Lourd Capital LLC raised its stake in Visa by 9.3% in the second quarter. Lourd Capital LLC now owns 5,365 shares of the credit-card processor’s stock valued at $503,000 after buying an additional 457 shares in the last quarter. Institutional investors and hedge funds own 82.02% of the company’s stock.
Visa Company Profile
Visa Inc (Visa) is a payments technology company that connects consumers, merchants, financial institutions, businesses, strategic partners and government entities to electronic payments. The Company operates through payment services segment. The Company enables global commerce through the transfer of value and information among the participants.
Receive News & Ratings for Visa Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Visa Inc. and related companies with MarketBeat.com's FREE daily email newsletter.