Visa (NYSE:V) Trading 2.3% Higher – What’s Next?

Shares of Visa Inc. (NYSE:VGet Free Report) traded up 2.3% during mid-day trading on Monday . The stock traded as high as $333.43 and last traded at $333.1360. 5,264,371 shares traded hands during trading, a decline of 32% from the average session volume of 7,692,469 shares. The stock had previously closed at $325.75.

Visa News Summary

Here are the key news stories impacting Visa this week:

Analysts Set New Price Targets

Several equities research analysts have issued reports on the stock. UBS Group raised their price objective on shares of Visa from $390.00 to $410.00 and gave the stock a “buy” rating in a research report on Wednesday, April 29th. Cantor Fitzgerald restated an “overweight” rating and set a $400.00 price objective on shares of Visa in a research report on Wednesday, April 29th. Freedom Capital upgraded shares of Visa from a “hold” rating to a “strong-buy” rating in a research report on Monday, February 16th. BMO Capital Markets started coverage on shares of Visa in a research report on Tuesday, April 21st. They issued an “outperform” rating and a $365.00 price target for the company. Finally, Morgan Stanley reiterated an “overweight” rating and issued a $415.00 price target on shares of Visa in a research report on Wednesday, April 29th. Six research analysts have rated the stock with a Strong Buy rating, eighteen have issued a Buy rating and three have given a Hold rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Buy” and a consensus target price of $387.67.

View Our Latest Research Report on V

Visa Trading Up 0.4%

The company has a debt-to-equity ratio of 0.64, a current ratio of 1.09 and a quick ratio of 1.09. The business’s 50-day moving average price is $311.72 and its two-hundred day moving average price is $325.56. The company has a market capitalization of $594.06 billion, a price-to-earnings ratio of 28.85, a P/E/G ratio of 1.78 and a beta of 0.78.

Visa (NYSE:VGet Free Report) last announced its quarterly earnings data on Tuesday, April 28th. The credit-card processor reported $3.31 EPS for the quarter, beating the consensus estimate of $3.10 by $0.21. Visa had a net margin of 51.68% and a return on equity of 65.00%. The business had revenue of $11.23 billion during the quarter, compared to the consensus estimate of $10.75 billion. During the same period in the previous year, the business earned $2.76 earnings per share. The company’s revenue was up 17.1% on a year-over-year basis. Research analysts predict that Visa Inc. will post 13.09 earnings per share for the current year.

Visa Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, June 1st. Shareholders of record on Tuesday, May 12th will be given a dividend of $0.67 per share. This represents a $2.68 annualized dividend and a yield of 0.8%. The ex-dividend date is Tuesday, May 12th. Visa’s payout ratio is currently 23.34%.

Visa declared that its Board of Directors has approved a stock repurchase plan on Tuesday, April 28th that permits the company to buyback $20.00 billion in shares. This buyback authorization permits the credit-card processor to repurchase up to 3.6% of its stock through open market purchases. Stock buyback plans are usually an indication that the company’s board of directors believes its shares are undervalued.

Insider Buying and Selling at Visa

In other Visa news, CEO Ryan Mcinerney sold 31,455 shares of the business’s stock in a transaction that occurred on Wednesday, April 29th. The shares were sold at an average price of $340.14, for a total transaction of $10,699,103.70. Following the completion of the transaction, the chief executive officer directly owned 15,174 shares in the company, valued at $5,161,284.36. The trade was a 67.46% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO Chris Suh sold 10,639 shares of the business’s stock in a transaction that occurred on Tuesday, May 12th. The shares were sold at an average price of $324.81, for a total transaction of $3,455,653.59. Following the transaction, the chief financial officer owned 9,872 shares of the company’s stock, valued at approximately $3,206,524.32. This represents a 51.87% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 42,744 shares of company stock worth $14,356,010 over the last three months. Corporate insiders own 0.12% of the company’s stock.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in the business. Patron Partners LLC grew its stake in shares of Visa by 0.6% in the third quarter. Patron Partners LLC now owns 4,648 shares of the credit-card processor’s stock worth $1,587,000 after purchasing an additional 30 shares during the last quarter. MTM Investment Management LLC lifted its holdings in Visa by 0.9% during the 3rd quarter. MTM Investment Management LLC now owns 3,344 shares of the credit-card processor’s stock worth $1,142,000 after buying an additional 30 shares during the period. High Note Wealth LLC grew its position in shares of Visa by 6.8% in the 3rd quarter. High Note Wealth LLC now owns 474 shares of the credit-card processor’s stock valued at $162,000 after buying an additional 30 shares during the last quarter. Beacon Capital Management LLC grew its position in shares of Visa by 2.0% in the 3rd quarter. Beacon Capital Management LLC now owns 1,541 shares of the credit-card processor’s stock valued at $526,000 after buying an additional 30 shares during the last quarter. Finally, Chapman Financial Group LLC grew its position in shares of Visa by 0.9% in the 3rd quarter. Chapman Financial Group LLC now owns 3,211 shares of the credit-card processor’s stock valued at $1,096,000 after buying an additional 30 shares during the last quarter. Institutional investors own 82.15% of the company’s stock.

About Visa

(Get Free Report)

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.

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