Visa (NYSE:V) Stock Price Up 1.5% – Here’s Why

Visa Inc. (NYSE:V) rose 1.5% during trading on Wednesday . The stock traded as high as $283.48 and last traded at $283.38. Approximately 1,404,772 shares were traded during mid-day trading, a decline of 80% from the average daily volume of 7,077,943 shares. The stock had previously closed at $279.29.

Analyst Upgrades and Downgrades

V has been the topic of several recent research reports. Monness Crespi & Hardt reaffirmed a “neutral” rating on shares of Visa in a research note on Tuesday, September 24th. Keefe, Bruyette & Woods raised shares of Visa from a “moderate buy” rating to a “strong-buy” rating in a research note on Tuesday, September 24th. William Blair upgraded shares of Visa to a “strong-buy” rating in a research report on Tuesday, July 23rd. TD Cowen cut their price target on Visa from $320.00 to $318.00 and set a “buy” rating on the stock in a research note on Wednesday, July 24th. Finally, BMO Capital Markets lifted their price objective on Visa from $300.00 to $310.00 and gave the stock an “outperform” rating in a research note on Thursday, October 3rd. Four equities research analysts have rated the stock with a hold rating, twenty-three have assigned a buy rating and two have given a strong buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $314.19.

Visa Stock Performance

The company has a quick ratio of 1.37, a current ratio of 1.37 and a debt-to-equity ratio of 0.54. The stock’s fifty day moving average is $276.30 and its two-hundred day moving average is $272.86. The firm has a market capitalization of $531.53 billion, a price-to-earnings ratio of 32.33, a P/E/G ratio of 1.94 and a beta of 0.96.

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

Visa Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, September 3rd. Shareholders of record on Friday, August 9th were given a dividend of $0.52 per share. The ex-dividend date was Friday, August 9th. This represents a $2.08 annualized dividend and a yield of 0.72%. Visa’s dividend payout ratio (DPR) is presently 23.24%.

Insiders Place Their Bets

In other Visa news, CEO Ryan Mcinerney sold 8,620 shares of Visa stock in a transaction dated Tuesday, September 3rd. The shares were sold at an average price of $276.37, for a total value of $2,382,309.40. Following the completion of the sale, the chief executive officer now owns 538 shares in the company, valued at $148,687.06. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Company insiders own 0.19% of the company’s stock.

Institutional Investors Weigh In On Visa

Institutional investors and hedge funds have recently bought and sold shares of the company. Vanguard Group Inc. boosted its stake in Visa by 0.6% in the first quarter. Vanguard Group Inc. now owns 142,202,830 shares of the credit-card processor’s stock valued at $39,685,966,000 after buying an additional 788,908 shares in the last quarter. Capital International Investors increased its holdings in shares of Visa by 2.7% during the first quarter. Capital International Investors now owns 23,570,391 shares of the credit-card processor’s stock worth $6,578,025,000 after buying an additional 626,618 shares in the last quarter. Capital World Investors lifted its stake in shares of Visa by 5.4% in the 1st quarter. Capital World Investors now owns 18,863,796 shares of the credit-card processor’s stock valued at $5,264,508,000 after acquiring an additional 968,008 shares during the last quarter. Ameriprise Financial Inc. boosted its holdings in shares of Visa by 2.4% during the 2nd quarter. Ameriprise Financial Inc. now owns 14,610,590 shares of the credit-card processor’s stock valued at $3,833,981,000 after acquiring an additional 345,829 shares in the last quarter. Finally, Legal & General Group Plc grew its position in Visa by 2.2% during the 2nd quarter. Legal & General Group Plc now owns 14,416,394 shares of the credit-card processor’s stock worth $3,783,857,000 after acquiring an additional 312,286 shares during the last quarter. 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.