Visa (NYSE:V) Trading Down 1.1% – Time to Sell?

Visa Inc. (NYSE:V) shares dropped 1.1% on Friday . The stock traded as low as $373.64 and last traded at $374.46. Approximately 4,591,350 shares changed hands during trading, a decline of 41% from the average daily volume of 7,787,428 shares. The stock had previously closed at $378.75.

Analysts Set New Price Targets

V has been the subject of a number of analyst reports. Wells Fargo & Company reiterated an “overweight” rating and set a $432.00 price objective (up from $412.00) on shares of Visa in a report on Thursday, July 30th. JPMorgan Chase & Co. raised their target price on Visa from $400.00 to $450.00 and gave the stock an “overweight” rating in a research report on Wednesday, July 29th. Sanford C. Bernstein reaffirmed an “outperform” rating and set a $450.00 price target on shares of Visa in a research report on Tuesday, June 2nd. Morgan Stanley reiterated an “overweight” rating and set a $416.00 price target on shares of Visa in a research note on Wednesday, July 29th. Finally, Robert W. Baird lifted their price objective on Visa from $412.00 to $420.00 and gave the stock an “outperform” rating in a report on Wednesday, July 29th. Seven equities research analysts have rated the stock with a Strong Buy rating and twenty-four have assigned a Buy rating to the company. Based on data from MarketBeat.com, Visa has a consensus rating of “Buy” and a consensus price target of $416.62.

Visa Price Performance

The business’s fifty day simple moving average is $362.88 and its 200-day simple moving average is $332.97. The company has a current ratio of 0.99, a quick ratio of 0.99 and a debt-to-equity ratio of 0.60. The firm has a market cap of $668.20 billion, a P/E ratio of 31.84, a PEG ratio of 2.03 and a beta of 0.76.

Visa (NYSE:V) last posted its quarterly 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 firm had revenue of $11.63 billion during the quarter, compared to analyst estimates of $11.40 billion. During the same period last year, the company earned $2.98 earnings per share. The business’s revenue for the quarter was up 14.4% on a year-over-year basis. As a group, analysts forecast that Visa Inc. will post 13.16 EPS for the current fiscal year.

Visa Announces Dividend

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

Insider Transactions at Visa

In other news, CEO Ryan Mcinerney sold 5,875 shares of the firm’s stock in a transaction that occurred on Tuesday, September 1st. The shares were sold at an average price of $379.65, for a total value of $2,230,443.75. Following the completion of the transaction, the chief executive officer directly owned 15,174 shares in the company, valued at approximately $5,760,809.10. This trade represents a 27.91% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, 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 sale, the general counsel directly owned 18,404 shares in the company, valued at $7,018,365.40. This trade represents a 9.93% 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. Over the last ninety days, insiders have sold 104,537 shares of company stock valued at $37,540,837. 0.12% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Visa

Institutional investors and hedge funds have recently made changes to their positions in the business. MLG Wealth Management DBA Pine Grove Financial Group boosted its position in shares of Visa by 12.5% during the 2nd quarter. MLG Wealth Management DBA Pine Grove Financial Group now owns 846 shares of the credit-card processor’s stock valued at $290,000 after acquiring an additional 94 shares during the last quarter. Second Line Capital LLC increased its position in shares of Visa by 4.6% in the second quarter. Second Line Capital LLC now owns 11,400 shares of the credit-card processor’s stock worth $3,911,000 after purchasing an additional 504 shares during the last quarter. Range Advisory LLC raised its stake in Visa by 47.3% in the second quarter. Range Advisory LLC now owns 4,121 shares of the credit-card processor’s stock valued at $1,414,000 after purchasing an additional 1,323 shares in the last quarter. Parrish Capital LLC purchased a new stake in Visa in the second quarter valued at approximately $212,000. Finally, NWM Advisors LLC lifted its position in Visa by 5.5% during the second quarter. NWM Advisors LLC now owns 13,821 shares of the credit-card processor’s stock valued at $4,742,000 after purchasing an additional 725 shares during the last quarter. Hedge funds and other institutional investors own 82.15% of the company’s stock.

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.