Visa (NYSE:V) General Counsel Julie Rottenberg Sells 2,028 Shares of Stock

Visa Inc. (NYSE:V) General Counsel Julie Rottenberg sold 2,028 shares of the company’s stock in a transaction that occurred on Monday, August 31st. The stock was sold at an average price of $381.35, for a total transaction of $773,377.80. Following the completion of the sale, the general counsel directly owned 18,404 shares of the company’s stock, valued at $7,018,365.40. The trade was a 9.93% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Visa Stock Down 1.8%

Shares of NYSE V traded down $6.97 during midday trading on Tuesday, reaching $372.40. 5,624,045 shares of the company’s stock traded hands, compared to its average volume of 7,841,764. The company has a market cap of $664.52 billion, a price-to-earnings ratio of 31.67, a P/E/G ratio of 2.04 and a beta of 0.74. The stock’s 50 day simple moving average is $360.10 and its 200-day simple moving average is $331.83. The company has a quick ratio of 0.99, a current ratio of 0.99 and a debt-to-equity ratio of 0.60. Visa Inc. has a one year low of $293.89 and a one year high of $385.57.

Visa (NYSE:V) last issued its quarterly earnings data on Tuesday, July 28th. The credit-card processor reported $3.32 EPS for the quarter, topping analysts’ consensus estimates of $3.23 by $0.09. The company had revenue of $11.63 billion during the quarter, compared to the consensus estimate of $11.40 billion. Visa had a net margin of 50.78% and a return on equity of 67.68%. Visa’s revenue for the quarter was up 14.4% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $2.98 earnings per share. On average, analysts predict that Visa Inc. will post 13.16 EPS for the current fiscal year.

Visa Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, September 1st. Stockholders of record on Tuesday, August 11th will be given a $0.67 dividend. This represents a $2.68 annualized dividend and a dividend yield of 0.7%. The ex-dividend date of this dividend is Tuesday, August 11th. Visa’s payout ratio is presently 22.79%.

Institutional Trading of Visa

Hedge funds and other institutional investors have recently made changes to their positions in the business. Nixon Peabody Trust Co. raised its position in Visa by 58.1% during the 1st quarter. Nixon Peabody Trust Co. now owns 4,201 shares of the credit-card processor’s stock worth $1,270,000 after buying an additional 1,543 shares during the last quarter. Vega Investment Solutions purchased a new stake in shares of Visa in the 2nd quarter valued at $829,000. Beacon Financial Group boosted its holdings in shares of Visa by 83.9% in the 1st quarter. Beacon Financial Group now owns 22,501 shares of the credit-card processor’s stock valued at $6,801,000 after acquiring an additional 10,267 shares during the last quarter. Sterling Investment Management LLC increased its stake in shares of Visa by 43.7% in the fourth quarter. Sterling Investment Management LLC now owns 17,832 shares of the credit-card processor’s stock worth $6,254,000 after acquiring an additional 5,421 shares during the period. Finally, Pincus Capital Management LP acquired a new stake in shares of Visa in the fourth quarter worth $4,278,000. Hedge funds and other institutional investors own 82.15% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages recently weighed in on V. JPMorgan Chase & Co. raised their price objective on Visa from $400.00 to $450.00 and gave the company an “overweight” rating in a research report on Wednesday, July 29th. Wells Fargo & Company reiterated an “overweight” rating and issued a $432.00 target price (up from $412.00) on shares of Visa in a report on Thursday, July 30th. Royal Bank Of Canada reissued an “outperform” rating and set a $466.00 price target (up from $412.00) on shares of Visa in a research report on Monday. TD Cowen reissued a “buy” rating on shares of Visa in a research report on Wednesday, July 29th. Finally, Sanford C. Bernstein restated an “outperform” rating and issued a $450.00 price target on shares of Visa in a report on Tuesday, June 2nd. Seven equities research analysts have rated the stock with a Strong Buy rating and twenty-four have issued a Buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Buy” and an average target price of $416.62.

About Visa

Visa Inc is a global payments technology company that facilitates electronic funds transfers and digital commerce by connecting consumers, merchants, financial institutions and governments. The firm operates one of the world’s largest payment networks, providing processing, authorization, clearing and settlement services for credit, debit and prepaid card transactions. Visa’s network-based model enables partner banks and other issuers to offer branded payment products while Visa focuses on the infrastructure, standards and technologies that move money securely and efficiently around the world.

Visa’s product and service portfolio includes card-based payment products for consumers and businesses, real-time push-payment capabilities, tokenization and authentication services, fraud and risk-management tools, data analytics and APIs for fintech and merchant integration.