Visa (NYSE:V) Trading Down 2.4% – Here’s What Happened

Visa Inc. (NYSE:V) shares were down 2.4% during trading on Monday . The stock traded as low as $321.57 and last traded at $321.77. Approximately 1,421,815 shares changed hands during trading, a decline of 79% from the average daily volume of 6,811,529 shares. The stock had previously closed at $329.61.

Wall Street Analysts Forecast Growth

V has been the subject of several recent analyst reports. Oppenheimer restated an “outperform” rating on shares of Visa in a research note on Thursday, February 13th. Wells Fargo & Company boosted their target price on Visa from $360.00 to $395.00 and gave the stock an “overweight” rating in a research report on Friday, January 31st. Keefe, Bruyette & Woods reaffirmed a “hold” rating on shares of Visa in a report on Thursday, February 13th. Susquehanna reissued a “positive” rating on shares of Visa in a report on Friday, March 21st. Finally, William Blair restated an “outperform” rating on shares of Visa in a report on Friday, January 31st. Seven research analysts have rated the stock with a hold rating, twenty-one have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $355.84.

Visa Stock Down 3.8 %

The company has a fifty day moving average price of $340.68 and a 200-day moving average price of $321.05. The company has a debt-to-equity ratio of 0.45, a quick ratio of 1.12 and a current ratio of 1.12. The firm has a market capitalization of $589.05 billion, a PE ratio of 31.96, a PEG ratio of 2.33 and a beta of 0.94.

Visa (NYSE:V) last released its quarterly earnings data on Thursday, January 30th. The credit-card processor reported $2.75 EPS for the quarter, beating the consensus estimate of $2.66 by $0.09. Visa had a net margin of 54.27% and a return on equity of 54.79%. As a group, analysts expect that Visa Inc. will post 11.3 earnings per share for the current year.

Visa Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, March 3rd. Stockholders of record on Tuesday, February 11th were paid a $0.59 dividend. This represents a $2.36 annualized dividend and a dividend yield of 0.74%. The ex-dividend date was Tuesday, February 11th. Visa’s payout ratio is 23.79%.

Insider Buying and Selling

In other Visa news, CEO Ryan Mcinerney sold 8,620 shares of the company’s stock in a transaction on Tuesday, April 1st. The stock was sold at an average price of $350.44, for a total value of $3,020,792.80. Following the transaction, the chief executive officer now owns 537 shares of the company’s stock, valued at $188,186.28. This represents a 94.14 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, General Counsel Julie B. Rottenberg sold 2,572 shares of Visa stock in a transaction on Monday, February 3rd. The stock was sold at an average price of $340.00, for a total value of $874,480.00. Following the sale, the general counsel now owns 11,925 shares of the company’s stock, valued at approximately $4,054,500. This trade represents a 17.74 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 143,205 shares of company stock worth $48,842,490 over the last three months. 0.13% of the stock is owned by insiders.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in V. Norges Bank purchased a new position in Visa during the 4th quarter valued at about $5,171,271,000. GAMMA Investing LLC increased its holdings in Visa by 38,416.3% during the first quarter. GAMMA Investing LLC now owns 14,761,375 shares of the credit-card processor’s stock valued at $5,173,271,000 after buying an additional 14,723,050 shares during the period. Vanguard Group Inc. raised its stake in Visa by 4.6% in the fourth quarter. Vanguard Group Inc. now owns 159,405,343 shares of the credit-card processor’s stock worth $50,378,465,000 after buying an additional 7,079,706 shares in the last quarter. Raymond James Financial Inc. purchased a new stake in Visa during the fourth quarter worth $1,955,403,000. Finally, Proficio Capital Partners LLC boosted its position in Visa by 17,018.7% during the 4th quarter. Proficio Capital Partners LLC now owns 3,949,118 shares of the credit-card processor’s stock valued at $1,248,079,000 after acquiring an additional 3,926,049 shares in the last quarter. Hedge funds and other institutional investors own 82.15% of the company’s stock.

About Visa

Visa Inc operates as a payment technology company in the United States and internationally. The company operates VisaNet, a transaction processing network that enables authorization, clearing, and settlement of payment transactions. It also offers credit, debit, and prepaid card products; tap to pay, tokenization, and click to pay services; Visa Direct, a solution that facilitates the delivery of funds to eligible cards, deposit accounts, and digital wallets; Visa B2B Connect, a multilateral business-to-business cross-border payments network; Visa Cross-Border Solution, a cross-border consumer payments solution; and Visa DPS that provides a range of value-added services, including fraud mitigation, dispute management, data analytics, campaign management, a suite of digital solutions, and contact center services.