Visa Inc. (NYSE:V) CEO Ryan Mcinerney Sells 8,620 Shares

Visa Inc. (NYSE:V) CEO Ryan Mcinerney sold 8,620 shares of the business’s stock in a transaction on Monday, June 2nd. The shares were sold at an average price of $362.77, for a total transaction of $3,127,077.40. Following the sale, the chief executive officer now directly owns 537 shares of the company’s stock, valued at $194,807.49. This represents a 94.14% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link.

Ryan Mcinerney also recently made the following trade(s):

• On Thursday, May 1st, Ryan Mcinerney sold 8,620 shares of Visa stock. The stock was sold at an average price of $345.58, for a total transaction of $2,978,899.60.
• On Tuesday, April 1st, Ryan Mcinerney sold 8,620 shares of Visa stock. The stock was sold at an average price of $350.44, for a total transaction of $3,020,792.80.

Visa Trading Up 0.6%

Visa stock opened at $368.04 on Thursday. Visa Inc. has a 12-month low of $252.70 and a 12-month high of $371.75. The stock has a market capitalization of $679.09 billion, a PE ratio of 37.10, a price-to-earnings-growth ratio of 2.33 and a beta of 0.96. The firm has a 50 day simple moving average of $344.66 and a 200-day simple moving average of $334.72. The company has a debt-to-equity ratio of 0.45, a current ratio of 1.12 and a quick ratio of 1.12.

Visa (NYSE:V) last released its earnings results on Tuesday, April 29th. The credit-card processor reported $2.76 EPS for the quarter, beating the consensus estimate of $2.68 by $0.08. Visa had a net margin of 54.27% and a return on equity of 54.79%. The business had revenue of $9.59 billion during the quarter, compared to analyst estimates of $9.57 billion. During the same period in the prior year, the business earned $2.51 earnings per share. The business’s quarterly revenue was up 9.3% on a year-over-year basis. As a group, equities research analysts expect that Visa Inc. will post 11.3 EPS for the current fiscal year.

Visa Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, June 2nd. Investors of record on Tuesday, May 13th were paid a $0.59 dividend. This represents a $2.36 dividend on an annualized basis and a yield of 0.64%. The ex-dividend date of this dividend was Tuesday, May 13th. Visa’s dividend payout ratio is 23.72%.

Institutional Investors Weigh In On Visa

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in V. Riverstone Advisors LLC acquired a new position in Visa in the 4th quarter valued at $217,000. Blue Rock Wealth Management LLC bought a new position in shares of Visa during the 4th quarter worth about $306,000. Aptus Capital Advisors LLC lifted its holdings in shares of Visa by 19.8% during the 4th quarter. Aptus Capital Advisors LLC now owns 182,658 shares of the credit-card processor’s stock worth $57,727,000 after acquiring an additional 30,185 shares during the period. Journey Strategic Wealth LLC lifted its holdings in Visa by 16.4% during the 4th quarter. Journey Strategic Wealth LLC now owns 9,678 shares of the credit-card processor’s stock valued at $3,058,000 after purchasing an additional 1,361 shares during the last quarter. Finally, King Wealth Management Group lifted its holdings in Visa by 9.0% during the 4th quarter. King Wealth Management Group now owns 74,874 shares of the credit-card processor’s stock valued at $23,663,000 after purchasing an additional 6,172 shares during the last quarter. Hedge funds and other institutional investors own 82.15% of the company’s stock.

Analysts Set New Price Targets

A number of research firms have weighed in on V. William Blair reissued an “outperform” rating on shares of Visa in a research report on Wednesday, April 30th. UBS Group upped their price objective on shares of Visa from $395.00 to $405.00 and gave the company a “buy” rating in a research report on Wednesday, May 28th. Wall Street Zen raised shares of Visa from a “hold” rating to a “buy” rating in a research report on Monday, May 12th. Keefe, Bruyette & Woods restated a “hold” rating on shares of Visa in a research note on Thursday, February 13th. Finally, Susquehanna restated a “positive” rating on shares of Visa in a research note on Friday, March 21st. Six research analysts have rated the stock with a hold rating, twenty-two have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $367.48.

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.