Visa (NYSE:V) Trading 0.2% Higher – Here’s Why

Visa Inc. (NYSE:V)’s share price rose 0.2% on Friday . The company traded as high as $285.09 and last traded at $283.82. Approximately 759,033 shares changed hands during mid-day trading, a decline of 89% from the average daily volume of 7,055,705 shares. The stock had previously closed at $283.22.

Analysts Set New Price Targets

V has been the topic of a number of recent analyst reports. Robert W. Baird increased their price objective on shares of Visa from $320.00 to $330.00 and gave the stock an “outperform” rating in a research report on Thursday, October 17th. Royal Bank of Canada reduced their price objective on shares of Visa from $315.00 to $311.00 and set an “outperform” rating on the stock in a research report on Wednesday, July 24th. Compass Point assumed coverage on shares of Visa in a research report on Wednesday, September 4th. They set a “buy” rating and a $319.00 target price on the stock. StockNews.com raised shares of Visa from a “hold” rating to a “buy” rating in a research report on Friday, August 9th. Finally, Monness Crespi & Hardt reaffirmed a “neutral” rating on shares of Visa in a research report on Tuesday, September 24th. Four equities research analysts have rated the stock with a hold rating, twenty-three have issued a buy rating and two have issued a strong buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $314.19.

Visa Trading Down 0.5 %

The company has a market capitalization of $515.56 billion, a price-to-earnings ratio of 31.71, a P/E/G ratio of 1.96 and a beta of 0.96. 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 company’s 50 day simple moving average is $278.73 and its two-hundred day simple moving average is $273.17.

Visa (NYSE:V) last announced its earnings results on Tuesday, July 23rd. The credit-card processor reported $2.42 earnings per share for the quarter, meeting the consensus estimate of $2.42. The company had revenue of $8.90 billion during the quarter, compared to the consensus estimate of $8.92 billion. Visa had a net margin of 54.72% and a return on equity of 51.94%. Visa’s revenue was up 9.6% compared to the same quarter last year. During the same period last year, the firm earned $2.16 earnings per share. As a group, research analysts anticipate that Visa Inc. will post 9.92 earnings per share for the current fiscal year.

Insider Buying and Selling at Visa

In other news, CEO Ryan Mcinerney sold 8,620 shares of Visa stock in a transaction on Tuesday, September 3rd. The shares were sold at an average price of $276.37, for a total transaction of $2,382,309.40. Following the completion of the sale, the chief executive officer now directly owns 538 shares in the company, valued at approximately $148,687.06. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. 0.19% of the stock is owned by insiders.

Institutional Investors Weigh In On Visa

Several institutional investors and hedge funds have recently made changes to their positions in V. POM Investment Strategies LLC lifted its position in Visa by 970.0% during the second quarter. POM Investment Strategies LLC now owns 107 shares of the credit-card processor’s stock valued at $28,000 after purchasing an additional 97 shares during the period. TruNorth Capital Management LLC lifted its position in Visa by 211.9% during the second quarter. TruNorth Capital Management LLC now owns 131 shares of the credit-card processor’s stock valued at $34,000 after purchasing an additional 89 shares during the period. Bbjs Financial Advisors LLC acquired a new position in Visa during the second quarter valued at $35,000. CarsonAllaria Wealth Management Ltd. purchased a new position in Visa in the second quarter valued at $35,000. Finally, Abich Financial Wealth Management LLC increased its holdings in Visa by 52.9% in the first quarter. Abich Financial Wealth Management LLC now owns 133 shares of the credit-card processor’s stock valued at $37,000 after buying an additional 46 shares in the last quarter. 82.15% of the stock is currently owned by institutional investors and hedge funds.

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.