Visa (NYSE:V) Trading 1.3% Higher – Here’s Why

Visa Inc. (NYSE:V) shares shot up 1.3% during mid-day trading on Monday . The company traded as high as $377.17 and last traded at $375.1780. 6,174,865 shares traded hands during mid-day trading, a decline of 20% from the average daily volume of 7,695,124 shares. The stock had previously closed at $370.45.

Analyst Ratings Changes

V has been the topic of a number of recent research reports. TD Cowen reaffirmed a “buy” rating on shares of Visa in a research report on Wednesday, July 29th. Robert W. Baird boosted their price objective on shares of Visa from $412.00 to $420.00 and gave the stock an “outperform” rating in a research note on Wednesday, July 29th. Susquehanna restated a “positive” rating and issued a $427.00 price objective (up from $410.00) on shares of Visa in a report on Wednesday, July 29th. Piper Sandler reaffirmed an “overweight” rating and set a $430.00 target price (up from $394.00) on shares of Visa in a research note on Wednesday, July 29th. Finally, Weiss Ratings raised Visa from a “buy (b-)” rating to a “buy (b)” rating in a research report on Thursday, July 30th. Seven investment analysts have rated the stock with a Strong Buy rating and twenty-four have assigned a Buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Buy” and a consensus price target of $416.62.

Visa Price Performance

The firm has a 50-day moving average of $366.28 and a 200-day moving average of $336.18. The company has a debt-to-equity ratio of 0.60, a quick ratio of 0.99 and a current ratio of 0.99. The firm has a market capitalization of $671.40 billion, a P/E ratio of 31.99, a PEG ratio of 2.01 and a beta of 0.76.

Visa (NYSE:V) last posted its earnings results 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. Visa had a return on equity of 67.68% and a net margin of 50.78%.The business had revenue of $11.63 billion during the quarter, compared to analyst estimates of $11.40 billion. During the same quarter last year, the company earned $2.98 EPS. The company’s quarterly revenue was up 14.4% compared to the same quarter last year. As a group, analysts predict that Visa Inc. will post 13.16 EPS for the current year.

Visa Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, September 1st. Shareholders of record on Tuesday, August 11th were given a $0.67 dividend. The ex-dividend date of this dividend was Tuesday, August 11th. This represents a $2.68 dividend on an annualized basis and a yield of 0.7%. Visa’s payout ratio is 22.79%.

Insider Buying and Selling at Visa

In other news, General Counsel Julie B. Rottenberg sold 2,028 shares of the business’s stock in a transaction that occurred on Monday, August 31st. The shares were sold at an average price of $381.35, for a total transaction of $773,377.80. Following the completion of the transaction, 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 ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Ryan Mcinerney sold 20,970 shares of the stock in a transaction that occurred on Monday, June 29th. The shares were sold at an average price of $340.25, for a total transaction of $7,135,042.50. Following the transaction, the chief executive officer owned 15,174 shares in the company, valued at approximately $5,162,953.50. This trade represents a 58.02% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last 90 days, insiders have sold 106,404 shares of company stock worth $38,228,528. Company insiders own 0.12% of the company’s stock.

Hedge Funds Weigh In On Visa

Several hedge funds and other institutional investors have recently modified their holdings of the company. Talon Private Wealth LLC lifted its position in shares of Visa by 100.7% during the second quarter. Talon Private Wealth LLC now owns 14,479 shares of the credit-card processor’s stock valued at $4,968,000 after buying an additional 7,265 shares during the last quarter. Marathon Wealth Advisors LLC grew its position in shares of Visa by 1.3% in the 2nd quarter. Marathon Wealth Advisors LLC now owns 18,744 shares of the credit-card processor’s stock worth $6,431,000 after buying an additional 239 shares during the last quarter. U S Wealth Group LLC. raised its stake in shares of Visa by 18.7% during the 2nd quarter. U S Wealth Group LLC. now owns 8,866 shares of the credit-card processor’s stock worth $3,042,000 after acquiring an additional 1,399 shares in the last quarter. Junto Capital Management LP purchased a new stake in Visa during the second quarter valued at approximately $158,480,000. Finally, Bouchey Financial Group Ltd. boosted its stake in Visa by 15.5% in the second quarter. Bouchey Financial Group Ltd. now owns 2,434 shares of the credit-card processor’s stock valued at $835,000 after acquiring an additional 327 shares in the last quarter. 82.15% of the stock is owned by institutional investors.

About Visa

Visa Inc is a global payments technology company that operates one of the world’s largest electronic payment networks. The company connects consumers, businesses, financial institutions and governments, enabling transactions through credit, debit, prepaid and commercial payment products. Visa generally does not issue cards, extend credit or set consumer interest rates; instead, it provides the network, technology and services that support payments.

Visa’s products and services include Visa-branded cards, digital payment solutions, tokenization, fraud prevention, risk management, data analytics and payment acceptance tools.