Visa (NYSE:V) Stock Price Up 0.6%

Shares of Visa Inc. (NYSE:V) shot up 0.6% during trading on Tuesday . The stock traded as high as $274.47 and last traded at $274.10. 1,212,860 shares traded hands during mid-day trading, a decline of 79% from the average session volume of 5,807,213 shares. The stock had previously closed at $272.33.

Wall Street Analysts Forecast Growth

Several brokerages have recently commented on V. TD Cowen began coverage on shares of Visa in a report on Thursday, April 11th. They issued a “buy” rating and a $320.00 target price for the company. Barclays increased their target price on shares of Visa from $304.00 to $319.00 and gave the company an “overweight” rating in a report on Monday, January 29th. Wells Fargo & Company increased their target price on shares of Visa from $300.00 to $325.00 and gave the company an “overweight” rating in a report on Wednesday, March 6th. Citigroup increased their target price on shares of Visa from $296.00 to $306.00 and gave the company a “buy” rating in a report on Thursday, January 18th. Finally, Redburn Atlantic reiterated a “neutral” rating and issued a $307.00 target price on shares of Visa in a report on Wednesday, March 27th. Five analysts have rated the stock with a hold rating and nineteen have given a buy rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $298.43.

Visa Price Performance

The business’s 50-day moving average price is $279.52 and its 200 day moving average price is $263.62. The company has a quick ratio of 1.45, a current ratio of 1.45 and a debt-to-equity ratio of 0.54. The company has a market capitalization of $502.38 billion, a P/E ratio of 31.54, a price-to-earnings-growth ratio of 1.86 and a beta of 0.96.

Visa (NYSE:V) last announced its earnings results on Thursday, January 25th. The credit-card processor reported $2.41 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.34 by $0.07. Visa had a net margin of 53.92% and a return on equity of 50.02%. The business had revenue of $8.63 billion during the quarter, compared to analyst estimates of $8.55 billion. During the same period in the previous year, the business posted $2.18 earnings per share. Visa’s revenue for the quarter was up 9.3% on a year-over-year basis. Analysts anticipate that Visa Inc. will post 9.88 EPS for the current fiscal year.

Visa Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, March 1st. Shareholders of record on Friday, February 9th were given a dividend of $0.52 per share. The ex-dividend date was Thursday, February 8th. This represents a $2.08 annualized dividend and a yield of 0.76%. Visa’s payout ratio is presently 23.94%.

Insider Buying and Selling at Visa

In other Visa news, CEO Ryan Mcinerney sold 8,150 shares of Visa stock in a transaction that occurred on Thursday, February 1st. The shares were sold at an average price of $273.39, for a total transaction of $2,228,128.50. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. In other news, CEO Ryan Mcinerney sold 8,150 shares of the business’s stock in a transaction that occurred on Thursday, February 1st. The shares were sold at an average price of $273.39, for a total value of $2,228,128.50. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CAO Peter M. Andreski sold 2,615 shares of the business’s stock in a transaction that occurred on Wednesday, February 7th. The stock was sold at an average price of $278.88, for a total transaction of $729,271.20. Following the completion of the sale, the chief accounting officer now owns 4,898 shares of the company’s stock, valued at $1,365,954.24. The disclosure for this sale can be found here. Insiders sold a total of 18,965 shares of company stock worth $5,256,352 over the last three months. 0.19% of the stock is owned by insiders.

Institutional Investors Weigh In On Visa

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Trifecta Capital Advisors LLC increased its position in Visa by 2.7% during the 3rd quarter. Trifecta Capital Advisors LLC now owns 20,176 shares of the credit-card processor’s stock valued at $4,641,000 after purchasing an additional 536 shares during the period. HB Wealth Management LLC increased its position in Visa by 7.2% during the 3rd quarter. HB Wealth Management LLC now owns 75,964 shares of the credit-card processor’s stock valued at $17,473,000 after purchasing an additional 5,114 shares during the period. Institute for Wealth Management LLC. increased its position in Visa by 2.3% during the 3rd quarter. Institute for Wealth Management LLC. now owns 13,979 shares of the credit-card processor’s stock valued at $3,215,000 after purchasing an additional 315 shares during the period. Cooper Financial Group increased its position in Visa by 6.2% during the 3rd quarter. Cooper Financial Group now owns 7,450 shares of the credit-card processor’s stock valued at $1,713,000 after purchasing an additional 433 shares during the period. Finally, Scharf Investments LLC increased its position in Visa by 7,058.9% during the 3rd quarter. Scharf Investments LLC now owns 592,904 shares of the credit-card processor’s stock valued at $136,374,000 after purchasing an additional 584,622 shares during the period. 82.15% of the stock is currently owned by 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.