Shares of Visa Inc. (NYSE:V – Get Free Report) fell 0.9% during trading on Friday after JPMorgan Chase & Co. lowered their price target on the stock from $302.00 to $300.00. JPMorgan Chase & Co. currently has an overweight rating on the stock. Visa traded as low as $266.19 and last traded at $266.60. 1,507,920 shares traded hands during trading, a decline of 78% from the average session volume of 6,819,159 shares. The stock had previously closed at $269.15.
A number of other brokerages have also issued reports on V. Redburn Atlantic reissued a “neutral” rating and issued a $307.00 price objective on shares of Visa in a report on Wednesday, March 27th. Wedbush increased their target price on shares of Visa from $280.00 to $300.00 and gave the stock an “outperform” rating in a research note on Wednesday, April 24th. Bank of America reaffirmed 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. Piper Sandler began coverage on shares of Visa in a research note on Monday, May 13th. They set an “overweight” rating and a $322.00 target price for the company. Finally, William Blair reissued an “outperform” rating on shares of Visa in a research note on Wednesday, April 24th. Six investment analysts have rated the stock with a hold rating and twenty-one have given a buy rating to the company. Based on data from MarketBeat.com, Visa has an average rating of “Moderate Buy” and an average target price of $304.72.
Insider Transactions at Visa
In other Visa news, Director Lloyd Carney sold 909 shares of Visa stock in a transaction on Friday, April 26th. The stock was sold at an average price of $275.55, for a total value of $250,474.95. Following the completion of the transaction, the director now directly owns 2,591 shares of the company’s stock, valued at approximately $713,950.05. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In other Visa news, Director Lloyd Carney sold 909 shares of the company’s stock in a transaction dated Friday, April 26th. The stock was sold at an average price of $275.55, for a total value of $250,474.95. Following the completion of the transaction, the director now owns 2,591 shares of the company’s stock, valued at approximately $713,950.05. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, insider Paul D. Fabara sold 25,293 shares of the company’s stock in a transaction dated Wednesday, May 15th. The shares were sold at an average price of $277.15, for a total value of $7,009,954.95. Following the completion of the sale, the insider now owns 17,894 shares in the company, valued at approximately $4,959,322.10. The disclosure for this sale can be found here. 0.19% of the stock is currently owned by corporate insiders.
Institutional Trading of Visa
A number of institutional investors and hedge funds have recently modified their holdings of V. Alaethes Wealth LLC boosted its stake in shares of Visa by 0.4% during the 4th quarter. Alaethes Wealth LLC now owns 8,843 shares of the credit-card processor’s stock worth $2,302,000 after acquiring an additional 37 shares in the last quarter. Jessup Wealth Management Inc lifted its stake in Visa by 0.7% in the 1st quarter. Jessup Wealth Management Inc now owns 5,051 shares of the credit-card processor’s stock valued at $1,410,000 after buying an additional 37 shares in the last quarter. Long Run Wealth Advisors LLC lifted its stake in Visa by 2.5% in the 1st quarter. Long Run Wealth Advisors LLC now owns 1,519 shares of the credit-card processor’s stock valued at $424,000 after buying an additional 37 shares in the last quarter. Cordatus Wealth Management LLC lifted its stake in Visa by 0.3% in the 1st quarter. Cordatus Wealth Management LLC now owns 10,793 shares of the credit-card processor’s stock valued at $3,012,000 after buying an additional 37 shares in the last quarter. Finally, Garden State Investment Advisory Services LLC lifted its stake in Visa by 1.8% in the 4th quarter. Garden State Investment Advisory Services LLC now owns 2,191 shares of the credit-card processor’s stock valued at $571,000 after buying an additional 38 shares in the last quarter. 82.15% of the stock is owned by hedge funds and other institutional investors.
Visa Trading Down 1.4 %
The company has a current ratio of 1.40, a quick ratio of 1.40 and a debt-to-equity ratio of 0.53. The business has a 50 day moving average of $272.00 and a 200-day moving average of $274.22. The stock has a market cap of $485.51 billion, a PE ratio of 29.66, a price-to-earnings-growth ratio of 1.90 and a beta of 0.95.
Visa (NYSE:V – Get Free Report) last issued its quarterly earnings results on Tuesday, April 23rd. The credit-card processor reported $2.51 earnings per share for the quarter, topping analysts’ consensus estimates of $2.43 by $0.08. The company had revenue of $8.78 billion for the quarter, compared to analyst estimates of $8.62 billion. Visa had a return on equity of 51.23% and a net margin of 53.87%. The business’s revenue for the quarter was up 9.9% compared to the same quarter last year. During the same quarter in the prior year, the company posted $2.09 EPS. On average, analysts anticipate that Visa Inc. will post 9.94 EPS for the current year.
Visa Announces Dividend
The firm also recently announced a quarterly dividend, which was paid on Monday, June 3rd. Stockholders of record on Friday, May 17th were paid a dividend of $0.52 per share. The ex-dividend date of this dividend was Thursday, May 16th. This represents a $2.08 annualized dividend and a dividend yield of 0.78%. Visa’s dividend payout ratio is presently 23.24%.
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.