Investors Sell Visa (V) on Strength (V)
Traders sold shares of Visa Inc (NYSE:V) on strength during trading on Tuesday. $439.26 million flowed into the stock on the tick-up and $647.95 million flowed out of the stock on the tick-down, for a money net flow of $208.69 million out of the stock. Of all companies tracked, Visa had the 0th highest net out-flow for the day. Visa traded up $3.70 for the day and closed at $119.97
Several equities analysts have issued reports on V shares. Mizuho reiterated a “buy” rating and issued a $115.00 price objective on shares of Visa in a research report on Thursday, October 12th. Citigroup restated a “buy” rating and issued a $136.00 price target (up from $124.00) on shares of Visa in a report on Friday, January 12th. Vetr upgraded Visa from a “hold” rating to a “buy” rating and set a $126.37 price target on the stock in a report on Monday. BMO Capital Markets boosted their price target on Visa from $116.00 to $134.00 and gave the company an “outperform” rating in a report on Thursday, October 26th. Finally, Zacks Investment Research upgraded Visa from a “hold” rating to a “buy” rating and set a $140.00 price target on the stock in a report on Thursday, January 25th. Two analysts have rated the stock with a hold rating, thirty-one have assigned a buy rating and one has given a strong buy rating to the stock. Visa currently has a consensus rating of “Buy” and a consensus price target of $133.85.
The company has a current ratio of 2.07, a quick ratio of 2.07 and a debt-to-equity ratio of 0.60. The firm has a market cap of $264,690.00, a P/E ratio of 38.68, a PEG ratio of 1.59 and a beta of 1.03.
The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, March 6th. Shareholders of record on Friday, February 16th will be paid a $0.21 dividend. This is a positive change from Visa’s previous quarterly dividend of $0.20. The ex-dividend date is Thursday, February 15th. This represents a $0.84 annualized dividend and a yield of 0.72%. Visa’s dividend payout ratio is currently 25.83%.
Visa announced that its board has initiated a stock repurchase plan on Thursday, February 1st that allows the company to repurchase $7.50 billion in outstanding shares. This repurchase authorization allows the credit-card processor to reacquire shares of its stock through open market purchases. Stock repurchase plans are typically a sign that the company’s leadership believes its shares are undervalued.
In other news, EVP Tullier Kelly Mahon sold 49,702 shares of the company’s stock in a transaction that occurred on Friday, December 15th. The stock was sold at an average price of $113.66, for a total value of $5,649,129.32. Following the transaction, the executive vice president now owns 76,202 shares of the company’s stock, valued at $8,661,119.32. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, SVP James H. Hoffmeister sold 2,146 shares of the company’s stock in a transaction that occurred on Monday, November 27th. The shares were sold at an average price of $112.09, for a total value of $240,545.14. Following the completion of the transaction, the senior vice president now directly owns 687 shares in the company, valued at approximately $77,005.83. The disclosure for this sale can be found here. Insiders sold 58,068 shares of company stock worth $6,597,262 in the last 90 days. Corporate insiders own 0.14% of the company’s stock.
Several institutional investors have recently bought and sold shares of V. Hartford Financial Management Inc. lifted its stake in Visa by 5.7% during the second quarter. Hartford Financial Management Inc. now owns 6,461 shares of the credit-card processor’s stock worth $605,000 after purchasing an additional 351 shares during the last quarter. Enterprise Financial Services Corp grew its holdings in Visa by 2.7% during the 2nd quarter. Enterprise Financial Services Corp now owns 2,567 shares of the credit-card processor’s stock worth $241,000 after acquiring an additional 67 shares during the period. First Manhattan Co. grew its holdings in Visa by 2.0% during the 2nd quarter. First Manhattan Co. now owns 78,153 shares of the credit-card processor’s stock worth $7,329,000 after acquiring an additional 1,509 shares during the period. Dock Street Asset Management Inc. grew its holdings in Visa by 2.8% during the 2nd quarter. Dock Street Asset Management Inc. now owns 122,141 shares of the credit-card processor’s stock worth $11,454,000 after acquiring an additional 3,376 shares during the period. Finally, Weybosset Research & Management LLC grew its holdings in Visa by 4.9% during the 2nd quarter. Weybosset Research & Management LLC now owns 3,025 shares of the credit-card processor’s stock worth $284,000 after acquiring an additional 140 shares during the period. 81.57% of the stock is currently owned by institutional investors.
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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.
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