Visa Inc. (NYSE:V – Get Free Report) dropped 1.3% during mid-day trading on Monday . The company traded as low as $318.43 and last traded at $319.5060. Approximately 5,564,618 shares changed hands during trading, a decline of 29% from the average daily volume of 7,830,366 shares. The stock had previously closed at $323.57.
More Visa News
Here are the key news stories impacting Visa this week:
- Positive Sentiment: Visa and OpenAI partnered to let AI agents initiate secure Visa payments, potentially creating a new growth avenue in AI-driven commerce. Visa and OpenAI Unlock Agentic Commerce
- Positive Sentiment: Visa also said it is working with OpenWay to help banks and fintechs in Asia Pacific launch new payment products faster, reinforcing its network expansion strategy. Can Visa Accelerate Payment Innovation Through OpenWay Tie-up?
Wall Street Analyst Weigh In
V has been the subject of a number of research reports. Cantor Fitzgerald reissued an “overweight” rating and set a $400.00 target price on shares of Visa in a research note on Wednesday, April 29th. UBS Group increased their target price on Visa from $390.00 to $410.00 and gave the stock a “buy” rating in a research note on Wednesday, April 29th. Loop Capital initiated coverage on Visa in a research note on Tuesday, March 31st. They set a “buy” rating and a $387.00 target price for the company. Sanford C. Bernstein reissued an “outperform” rating and set a $450.00 target price on shares of Visa in a research note on Tuesday, June 2nd. Finally, BMO Capital Markets initiated coverage on Visa in a research note on Tuesday, April 21st. They set an “outperform” rating and a $365.00 target price for the company. Six research analysts have rated the stock with a Strong Buy rating, seventeen have given a Buy rating and two have given a Hold rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Buy” and an average price target of $387.78.
Visa Trading Down 0.5%
The company has a market capitalization of $579.93 billion, a P/E ratio of 28.16, a price-to-earnings-growth ratio of 1.71 and a beta of 0.77. The business has a fifty day moving average price of $317.40 and a 200 day moving average price of $324.48. The company has a quick ratio of 1.09, a current ratio of 1.09 and a debt-to-equity ratio of 0.64.
Visa (NYSE:V – Get Free Report) last issued its quarterly earnings results on Tuesday, April 28th. The credit-card processor reported $3.31 earnings per share for the quarter, topping the consensus estimate of $3.10 by $0.21. The company had revenue of $11.23 billion during the quarter, compared to analysts’ expectations of $10.75 billion. Visa had a net margin of 51.68% and a return on equity of 65.00%. The business’s quarterly revenue was up 17.1% on a year-over-year basis. During the same period last year, the business earned $2.76 EPS. On average, analysts expect that Visa Inc. will post 13.09 earnings per share for the current fiscal year.
Visa Dividend Announcement
The firm also recently announced a quarterly dividend, which was paid on Monday, June 1st. Investors of record on Tuesday, May 12th were given a $0.67 dividend. The ex-dividend date of this dividend was Tuesday, May 12th. This represents a $2.68 dividend on an annualized basis and a yield of 0.8%. Visa’s dividend payout ratio (DPR) is 23.34%.
Visa declared that its board has authorized a share repurchase plan on Tuesday, April 28th that allows the company to repurchase $20.00 billion in shares. This repurchase authorization allows the credit-card processor to reacquire up to 3.6% of its shares through open market purchases. Shares repurchase plans are usually an indication that the company’s management believes its shares are undervalued.
Insiders Place Their Bets
In related news, CEO Ryan Mcinerney sold 31,455 shares of the firm’s stock in a transaction on Wednesday, April 29th. The shares were sold at an average price of $340.14, for a total value of $10,699,103.70. Following the completion of the transaction, the chief executive officer owned 15,174 shares of the company’s stock, valued at approximately $5,161,284.36. This trade represents a 67.46% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO Chris Suh sold 10,639 shares of the firm’s stock in a transaction 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 completion of the transaction, the chief financial officer directly owned 9,872 shares of the company’s stock, valued at approximately $3,206,524.32. This trade represents a 51.87% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. 0.12% of the stock is currently owned by company insiders.
Hedge Funds Weigh In On Visa
Several hedge funds and other institutional investors have recently made changes to their positions in the company. Beacon Capital Management LLC grew its stake in shares of Visa by 2.0% in the third 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 in the last quarter. Chapman Financial Group LLC grew its stake in shares of Visa by 0.9% in the third 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 in the last quarter. Ransom Advisory Ltd grew its stake in shares of Visa by 0.3% in the fourth quarter. Ransom Advisory Ltd now owns 9,447 shares of the credit-card processor’s stock valued at $3,313,000 after buying an additional 30 shares in the last quarter. TSA Wealth Managment LLC grew its stake in shares of Visa by 4.9% in the third quarter. TSA Wealth Managment LLC now owns 659 shares of the credit-card processor’s stock valued at $225,000 after buying an additional 31 shares in the last quarter. Finally, Bank OZK grew its stake in shares of Visa by 3.7% in the third quarter. Bank OZK now owns 858 shares of the credit-card processor’s stock valued at $293,000 after buying an additional 31 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 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.
See Also
- Five stocks we like better than Visa
- Everpure: AI Storage Uncertainty Overshadows Breakneck Growth
- This Tech ETF Is Beating QQQ—and Canada May Be Part of the Reason
- Intel Is the Market’s Most Mispriced AI Hedge
- The Biggest Opportunity From SpaceX’s IPO May Surprise You
Receive News & Ratings for Visa Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Visa and related companies with MarketBeat.com's FREE daily email newsletter.
