Visa (NYSE:V) Shares Down 0.7% – Here’s What Happened

by · The Markets Daily

Visa Inc. (NYSE:V – Get Free Report)’s stock price dropped 0.7% during trading on Tuesday . The stock traded as low as $308.51 and last traded at $310.10. Approximately 1,274,563 shares traded hands during mid-day trading, a decline of 82% from the average daily volume of 6,958,296 shares. The stock had previously closed at $312.16.

Analyst Upgrades and Downgrades

A number of equities research analysts recently issued reports on V shares. Barclays increased their price objective on Visa from $319.00 to $347.00 and gave the stock an “overweight” rating in a research report on Monday, November 4th. Royal Bank of Canada lifted their price target on Visa from $311.00 to $322.00 and gave the company an “outperform” rating in a research report on Wednesday, October 30th. 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. BMO Capital Markets boosted their price target on shares of Visa from $310.00 to $320.00 and gave the stock an “outperform” rating in a research note on Wednesday, October 30th. Finally, Macquarie raised their price objective on shares of Visa from $300.00 to $335.00 and gave the company an “outperform” rating in a research report on Wednesday, October 30th. Four investment analysts have rated the stock with a hold rating, twenty-four have issued a buy rating and two have assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $321.74.

View Our Latest Research Report on Visa

Visa Stock Performance

The company has a debt-to-equity ratio of 0.55, a current ratio of 1.28 and a quick ratio of 1.28. The company has a market capitalization of $560.16 billion, a PE ratio of 31.59, a PEG ratio of 2.09 and a beta of 0.95. The company has a 50 day moving average of $288.57 and a two-hundred day moving average of $276.84.

Visa (NYSE:V – Get Free Report) last issued its quarterly earnings results on Tuesday, October 29th. The credit-card processor reported $2.71 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.58 by $0.13. Visa had a net margin of 54.96% and a return on equity of 53.16%. The company had revenue of $9.62 billion during the quarter, compared to analyst estimates of $9.49 billion. During the same period last year, the business earned $2.33 EPS. Visa’s quarterly revenue was up 11.7% compared to the same quarter last year. As a group, equities research analysts predict that Visa Inc. will post 11.19 earnings per share for the current year.

Visa Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, December 2nd. Investors of record on Tuesday, November 12th will be paid a $0.59 dividend. The ex-dividend date of this dividend is Tuesday, November 12th. This represents a $2.36 annualized dividend and a dividend yield of 0.77%. This is an increase from Visa’s previous quarterly dividend of $0.52. Visa’s dividend payout ratio is presently 24.25%.

Insider Buying and Selling at Visa

In other news, CEO Ryan Mcinerney sold 8,620 shares of the stock in a transaction that occurred on 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 transaction, the chief executive officer now owns 538 shares in the company, valued at $148,687.06. This represents a 94.13 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 0.19% of the stock is owned by company insiders.

Hedge Funds Weigh In On Visa

A number of hedge funds have recently modified their holdings of the company. Arjuna Capital grew its stake in shares of Visa by 0.8% in the 2nd quarter. Arjuna Capital now owns 11,851 shares of the credit-card processor’s stock worth $3,111,000 after buying an additional 96 shares in the last quarter. Custom Index Systems LLC purchased a new position in Visa in the third quarter worth about $731,000. Mechanics Bank Trust Department increased its stake in Visa by 8.0% during the second quarter. Mechanics Bank Trust Department now owns 32,460 shares of the credit-card processor’s stock worth $8,520,000 after acquiring an additional 2,410 shares during the last quarter. Chicago Capital LLC raised its position in Visa by 5.2% during the third quarter. Chicago Capital LLC now owns 404,914 shares of the credit-card processor’s stock valued at $111,331,000 after purchasing an additional 20,023 shares during the period. Finally, Baader Bank Aktiengesellschaft lifted its stake in shares of Visa by 9.3% in the 2nd quarter. Baader Bank Aktiengesellschaft now owns 58,655 shares of the credit-card processor’s stock valued at $15,299,000 after purchasing an additional 4,988 shares during the last quarter. 82.15% of the stock is currently owned by institutional investors.

About Visa

(Get Free Report)

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.

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