Julie Rottenberg Sells 2,027 Shares of Visa (NYSE:V) Stock

Visa Inc. (NYSE:V) General Counsel Julie Rottenberg sold 2,027 shares of the company’s stock in a transaction dated Monday, August 18th. The stock was sold at an average price of $344.02, for a total value of $697,328.54. Following the completion of the transaction, the general counsel directly owned 11,925 shares of the company’s stock, valued at $4,102,438.50. The trade was a 14.53% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this link.

Visa Stock Performance

NYSE V opened at $343.99 on Thursday. The stock has a market capitalization of $630.46 billion, a price-to-earnings ratio of 33.59, a PEG ratio of 2.28 and a beta of 0.94. Visa Inc. has a twelve month low of $265.31 and a twelve month high of $375.51. The company has a current ratio of 1.12, a quick ratio of 1.12 and a debt-to-equity ratio of 0.52. The stock has a 50-day moving average of $348.54 and a 200 day moving average of $347.39.

Visa (NYSE:V) last released its quarterly earnings results on Tuesday, July 29th. The credit-card processor reported $2.98 earnings per share for the quarter, topping analysts’ consensus estimates of $2.85 by $0.13. The company had revenue of $10.17 billion during the quarter, compared to analysts’ expectations of $9.82 billion. Visa had a return on equity of 58.93% and a net margin of 52.16%.Visa’s quarterly revenue was up 14.3% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $2.42 EPS. Sell-side analysts anticipate that Visa Inc. will post 11.3 EPS for the current fiscal year.

Visa Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 2nd. Shareholders of record on Tuesday, August 12th will be paid a dividend of $0.59 per share. This represents a $2.36 annualized dividend and a yield of 0.7%. The ex-dividend date is Tuesday, August 12th. Visa’s payout ratio is 23.05%.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in V. Norges Bank acquired a new position in Visa during the second quarter worth $7,034,939,000. GAMMA Investing LLC lifted its stake in Visa by 38,416.3% during the first quarter. GAMMA Investing LLC now owns 14,761,375 shares of the credit-card processor’s stock worth $5,173,271,000 after purchasing an additional 14,723,050 shares in the last quarter. Nuveen LLC acquired a new position in Visa during the first quarter worth $3,518,533,000. Northern Trust Corp lifted its stake in Visa by 18.0% during the fourth quarter. Northern Trust Corp now owns 18,260,714 shares of the credit-card processor’s stock worth $5,771,116,000 after purchasing an additional 2,785,707 shares in the last quarter. Finally, TCI Fund Management Ltd. lifted its stake in Visa by 14.6% during the second quarter. TCI Fund Management Ltd. now owns 19,067,558 shares of the credit-card processor’s stock worth $6,769,936,000 after purchasing an additional 2,429,996 shares in the last quarter. 82.15% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

V has been the subject of several research reports. Raymond James Financial reiterated an “outperform” rating on shares of Visa in a research note on Wednesday, July 30th. Oppenheimer upped their price target on Visa from $390.00 to $391.00 and gave the company an “outperform” rating in a research report on Wednesday, July 2nd. William Blair restated an “outperform” rating on shares of Visa in a research report on Wednesday, April 30th. Barclays restated an “overweight” rating and issued a $408.00 price target (up from $396.00) on shares of Visa in a research report on Thursday, July 31st. Finally, BMO Capital Markets upped their price target on Visa from $370.00 to $380.00 and gave the company an “outperform” rating in a research report on Wednesday, April 30th. One investment analyst has rated the stock with a Strong Buy rating, twenty-two have given a Buy rating and five have issued a Hold rating to the company’s stock. According to MarketBeat.com, Visa has an average rating of “Moderate Buy” and a consensus price target of $380.84.

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.