Visa (NYSE:V) Trading Up 1.1% – Here’s Why

Visa Inc. (NYSE:V)’s share price traded up 1.1% during trading on Tuesday . The stock traded as high as $339.09 and last traded at $338.6740. 4,387,148 shares were traded during mid-day trading, a decline of 31% from the average session volume of 6,385,681 shares. The stock had previously closed at $334.85.

Analysts Set New Price Targets

V has been the subject of several research reports. Truist Financial reduced their target price on Visa from $400.00 to $397.00 and set a “buy” rating for the company in a research report on Thursday, July 17th. Macquarie decreased their price target on Visa from $425.00 to $410.00 and set an “outperform” rating on the stock in a research report on Wednesday, October 29th. Weiss Ratings reissued a “buy (b)” rating on shares of Visa in a report on Wednesday, October 8th. Wells Fargo & Company upgraded shares of Visa to a “strong-buy” rating in a research report on Wednesday, October 22nd. Finally, Robert W. Baird set a $425.00 price target on shares of Visa in a report on Wednesday, October 29th. Four analysts have rated the stock with a Strong Buy rating, seventeen have assigned a Buy rating and five have given a Hold rating to the company. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $400.00.

Visa Trading Up 1.1%

The company has a debt-to-equity ratio of 0.53, a current ratio of 1.08 and a quick ratio of 1.08. The firm has a fifty day simple moving average of $343.17 and a 200-day simple moving average of $348.83. The firm has a market cap of $620.72 billion, a P/E ratio of 33.17, a price-to-earnings-growth ratio of 2.03 and a beta of 0.87.

Visa (NYSE:V) last issued its earnings results on Tuesday, October 28th. The credit-card processor reported $2.98 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.97 by $0.01. The company had revenue of $10.72 billion for the quarter, compared to analysts’ expectations of $10.60 billion. Visa had a return on equity of 60.31% and a net margin of 50.15%.Visa’s quarterly revenue was up 11.5% compared to the same quarter last year. During the same period last year, the business earned $2.71 EPS. On average, equities research analysts expect that Visa Inc. will post 11.3 earnings per share for the current year.

Visa Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, December 1st. Shareholders of record on Wednesday, November 12th will be issued a dividend of $0.67 per share. The ex-dividend date of this dividend is Wednesday, November 12th. This represents a $2.68 dividend on an annualized basis and a yield of 0.8%. This is a positive change from Visa’s previous quarterly dividend of $0.59. Visa’s payout ratio is presently 23.11%.

Insiders Place Their Bets

In other news, CEO Ryan Mcinerney sold 10,485 shares of the firm’s stock in a transaction that occurred on Monday, November 3rd. The shares were sold at an average price of $341.00, for a total transaction of $3,575,385.00. Following the completion of the sale, the chief executive officer owned 537 shares in the company, valued at $183,117. This trade represents a 95.13% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Lloyd Carney sold 900 shares of the firm’s stock in a transaction on Tuesday, November 4th. The stock was sold at an average price of $336.48, for a total value of $302,832.00. Following the completion of the sale, the director directly owned 2,468 shares of the company’s stock, valued at $830,432.64. This represents a 26.72% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last ninety days, insiders sold 23,897 shares of company stock valued at $8,164,561. Corporate insiders own 0.13% of the company’s stock.

Institutional Investors Weigh In On Visa

A number of institutional investors and hedge funds have recently modified their holdings of V. Brighton Jones LLC increased its position in shares of Visa by 50.1% in the fourth quarter. Brighton Jones LLC now owns 20,635 shares of the credit-card processor’s stock worth $6,522,000 after purchasing an additional 6,883 shares during the last quarter. Revolve Wealth Partners LLC grew its stake in Visa by 68.9% in the 4th quarter. Revolve Wealth Partners LLC now owns 11,811 shares of the credit-card processor’s stock worth $3,733,000 after buying an additional 4,817 shares in the last quarter. Kingsman Wealth Management Inc. purchased a new position in Visa in the 1st quarter worth approximately $1,935,000. Capital & Planning LLC increased its holdings in shares of Visa by 25.1% in the 1st quarter. Capital & Planning LLC now owns 1,187 shares of the credit-card processor’s stock worth $416,000 after buying an additional 238 shares during the last quarter. Finally, Platform Technology Partners raised its position in shares of Visa by 17.6% during the 1st quarter. Platform Technology Partners now owns 11,496 shares of the credit-card processor’s stock valued at $4,029,000 after buying an additional 1,722 shares in the last quarter. 82.15% of the stock is owned by hedge funds and other institutional investors.

Visa Company Profile

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.