Visa (NYSE:V) Shares Down 1.2% – Here’s What Happened

Visa Inc. (NYSE:V)’s share price traded down 1.2% on Wednesday . The stock traded as low as $368.12 and last traded at $371.0770. 7,197,567 shares were traded during trading, a decline of 6% from the average session volume of 7,678,195 shares. The stock had previously closed at $375.62.

Wall Street Analyst Weigh In

Several research firms have recently issued reports on V. Barclays began coverage on Visa in a research note on Tuesday, July 7th. They issued an “overweight” rating and a $420.00 price target for the company. UBS Group restated a “buy” rating and set a $420.00 price objective (up from $410.00) on shares of Visa in a research note on Wednesday, July 29th. Clear Str raised shares of Visa to a “strong-buy” rating in a report on Thursday, July 16th. Robert W. Baird increased their target price on shares of Visa from $412.00 to $420.00 and gave the company an “outperform” rating in a research report on Wednesday, July 29th. Finally, Piper Sandler reissued an “overweight” rating and set a $430.00 target price (up from $394.00) on shares of Visa in a research note on Wednesday, July 29th. Seven investment analysts have rated the stock with a Strong Buy rating and twenty-four have assigned a Buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Buy” and a consensus price target of $416.62.

Visa Trading Down 1.2%

The business has a 50 day simple moving average of $366.28 and a 200-day simple moving average of $336.18. The company has a debt-to-equity ratio of 0.60, a quick ratio of 0.99 and a current ratio of 0.99. The stock has a market capitalization of $662.16 billion, a P/E ratio of 31.55, a price-to-earnings-growth ratio of 2.01 and a beta of 0.76.

Visa (NYSE:V) last posted its quarterly earnings data on Tuesday, July 28th. The credit-card processor reported $3.32 EPS for the quarter, topping analysts’ consensus estimates of $3.23 by $0.09. The company had revenue of $11.63 billion for the quarter, compared to the consensus estimate of $11.40 billion. Visa had a return on equity of 67.68% and a net margin of 50.78%.The company’s quarterly revenue was up 14.4% compared to the same quarter last year. During the same quarter in the previous year, the business earned $2.98 EPS. On average, analysts predict that Visa Inc. will post 13.16 EPS for the current year.

Visa Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, September 1st. Investors of record on Tuesday, August 11th were issued a dividend of $0.67 per share. This represents a $2.68 dividend on an annualized basis and a yield of 0.7%. The ex-dividend date of this dividend was Tuesday, August 11th. Visa’s payout ratio is presently 22.79%.

Insiders Place Their Bets

In other Visa news, CEO Ryan Mcinerney sold 5,875 shares of the company’s stock in a transaction dated Tuesday, September 1st. The shares were sold at an average price of $379.65, for a total value of $2,230,443.75. Following the completion of the sale, the chief executive officer directly owned 15,174 shares of the company’s stock, valued at approximately $5,760,809.10. This represents a 27.91% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Tullier Mahon sold 57,272 shares of the firm’s stock in a transaction dated Thursday, July 30th. The shares were sold at an average price of $364.97, for a total transaction of $20,902,561.84. Following the transaction, the insider owned 49,662 shares of the company’s stock, valued at approximately $18,125,140.14. This trade represents a 53.56% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last three months, insiders have sold 106,404 shares of company stock worth $38,228,528. 0.12% of the stock is owned by corporate insiders.

Institutional Trading of Visa

A number of large investors have recently added to or reduced their stakes in the business. XXEC Inc. increased its position in shares of Visa by 153,118.8% in the second quarter. XXEC Inc. now owns 186,260,448 shares of the credit-card processor’s stock worth $63,904,097,000 after acquiring an additional 186,138,883 shares in the last quarter. Norges Bank acquired a new stake in shares of Visa during the fourth quarter valued at approximately $5,877,738,000. Diamant Asset Management Inc. lifted its position in shares of Visa by 29,706.3% in the 1st quarter. Diamant Asset Management Inc. now owns 7,332,947 shares of the credit-card processor’s stock valued at $2,216,310,000 after acquiring an additional 7,308,345 shares in the last quarter. Jupiter Topco LLC purchased a new stake in shares of Visa in the 2nd quarter valued at approximately $1,435,262,000. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its stake in Visa by 13.0% in the 2nd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 15,720,068 shares of the credit-card processor’s stock worth $5,393,398,000 after purchasing an additional 1,808,496 shares during the period. 82.15% of the stock is currently owned by institutional investors.

Visa Company Profile

Visa Inc is a global payments technology company that operates one of the world’s largest electronic payment networks. The company connects consumers, businesses, financial institutions and governments, enabling transactions through credit, debit, prepaid and commercial payment products. Visa generally does not issue cards, extend credit or set consumer interest rates; instead, it provides the network, technology and services that support payments.

Visa’s products and services include Visa-branded cards, digital payment solutions, tokenization, fraud prevention, risk management, data analytics and payment acceptance tools.