Visa (NYSE:V) Shares Down 0.4%

Shares of Visa Inc. (NYSE:V) dropped 0.4% during mid-day trading on Tuesday . The stock traded as low as $283.61 and last traded at $284.38. Approximately 1,090,360 shares traded hands during trading, a decline of 85% from the average daily volume of 7,113,167 shares. The stock had previously closed at $285.61.

Analysts Set New Price Targets

V has been the subject of several recent research reports. Bank of America reiterated a “neutral” rating and set a $297.00 target price (down previously from $305.00) on shares of Visa in a research note on Wednesday, July 10th. Macquarie reiterated an “outperform” rating and set a $300.00 price objective on shares of Visa in a research note on Wednesday, July 24th. Piper Sandler cut their target price on shares of Visa from $322.00 to $319.00 and set an “overweight” rating on the stock in a report on Wednesday, July 24th. Compass Point started coverage on Visa in a report on Wednesday, September 4th. They set a “buy” rating and a $319.00 target price for the company. Finally, Morgan Stanley cut their price target on Visa from $326.00 to $322.00 and set an “overweight” rating on the stock in a report on Wednesday, July 24th. Six equities research analysts have rated the stock with a hold rating, twenty-three have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, Visa currently has a consensus rating of “Moderate Buy” and an average target price of $309.54.

Visa Price Performance

The company has a 50 day moving average of $267.62 and a two-hundred day moving average of $273.21. The firm has a market cap of $517.46 billion, a P/E ratio of 31.73, a PEG ratio of 1.97 and a beta of 0.96. The company has a quick ratio of 1.37, a current ratio of 1.37 and a debt-to-equity ratio of 0.54.

Visa (NYSE:V) last posted its quarterly earnings data on Tuesday, July 23rd. The credit-card processor reported $2.42 earnings per share for the quarter, meeting the consensus estimate of $2.42. Visa had a net margin of 54.72% and a return on equity of 51.94%. The company had revenue of $8.90 billion during the quarter, compared to analyst estimates of $8.92 billion. During the same quarter last year, the firm posted $2.16 EPS. The business’s revenue for the quarter was up 9.6% on a year-over-year basis. Sell-side analysts expect that Visa Inc. will post 9.92 EPS for the current year.

Visa Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Tuesday, September 3rd. Shareholders of record on Friday, August 9th were issued a $0.52 dividend. The ex-dividend date of this dividend was Friday, August 9th. This represents a $2.08 annualized dividend and a dividend yield of 0.73%. Visa’s dividend payout ratio is currently 23.24%.

Insider Activity

In other news, CEO Ryan Mcinerney sold 8,620 shares of the business’s stock in a transaction on Tuesday, September 3rd. The stock was sold at an average price of $276.37, for a total transaction of $2,382,309.40. Following the sale, the chief executive officer now directly owns 538 shares of the company’s stock, valued at $148,687.06. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 0.19% of the company’s stock.

Institutional Trading of Visa

A number of hedge funds have recently modified their holdings of the business. Heritage Wealth Management Inc. purchased a new stake in Visa in the 2nd quarter worth about $721,000. Lazari Capital Management Inc. lifted its position in shares of Visa by 31.3% in the second quarter. Lazari Capital Management Inc. now owns 5,536 shares of the credit-card processor’s stock worth $1,453,000 after purchasing an additional 1,319 shares in the last quarter. Sanctuary Advisors LLC acquired a new stake in shares of Visa during the second quarter worth approximately $87,426,000. Ghisallo Capital Management LLC purchased a new position in Visa during the second quarter valued at approximately $38,027,000. Finally, Clear Rock Advisors LLC increased its stake in Visa by 3.6% in the 2nd quarter. Clear Rock Advisors LLC now owns 13,067 shares of the credit-card processor’s stock valued at $3,430,000 after buying an additional 459 shares during the period. Hedge funds and other institutional investors own 82.15% of the company’s stock.

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.