Visa Inc. (NYSE:V - Get Free Report) shares dropped 3.5% during mid-day trading on Friday following insider selling activity. The stock traded as low as $324.41 and last traded at $327.65. Approximately 3,247,189 shares were traded during trading, a decline of 55% from the average daily volume of 7,159,142 shares. The stock had previously closed at $339.39.
Specifically, CEO Ryan Mcinerney sold 8,620 shares of the firm's stock in a transaction dated Tuesday, April 1st. The shares were sold at an average price of $350.44, for a total transaction of $3,020,792.80. Following the sale, the chief executive officer now directly owns 537 shares of the company's stock, valued at $188,186.28. This trade represents a 94.14 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link.
Analysts Set New Price Targets
Several research firms have commented on V. Raymond James reaffirmed an "outperform" rating and issued a $393.00 target price (up from $374.00) on shares of Visa in a research note on Friday, January 31st. Oppenheimer reiterated an "outperform" rating on shares of Visa in a research report on Thursday, February 13th. UBS Group lifted their price target on Visa from $350.00 to $400.00 and gave the company a "buy" rating in a report on Friday, January 31st. Citigroup reiterated a "neutral" rating on shares of Visa in a report on Thursday, February 13th. Finally, Barclays boosted their target price on shares of Visa from $361.00 to $396.00 and gave the company an "overweight" rating in a report on Monday, February 3rd. Six research analysts have rated the stock with a hold rating, twenty-two have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $355.84.
Check Out Our Latest Analysis on V
Visa Stock Up 1.2 %
The firm has a market cap of $587.23 billion, a P/E ratio of 31.79, a PEG ratio of 2.33 and a beta of 0.94. The firm's 50-day moving average price is $344.58 and its 200 day moving average price is $317.46. The company has a debt-to-equity ratio of 0.45, a current ratio of 1.12 and a quick ratio of 1.12.
Visa (NYSE:V - Get Free Report) last issued its earnings results on Thursday, January 30th. The credit-card processor reported $2.75 EPS for the quarter, topping the consensus estimate of $2.66 by $0.09. Visa had a return on equity of 54.79% and a net margin of 54.27%. On average, equities research analysts expect that Visa Inc. will post 11.3 earnings per share for the current fiscal year.
Visa Announces Dividend
The firm also recently declared a quarterly dividend, which was paid on Monday, March 3rd. Stockholders of record on Tuesday, February 11th were given a $0.59 dividend. The ex-dividend date was Tuesday, February 11th. This represents a $2.36 dividend on an annualized basis and a dividend yield of 0.75%. Visa's payout ratio is currently 23.79%.
Institutional Inflows and Outflows
Hedge funds and other institutional investors have recently modified their holdings of the business. Decker Retirement Planning Inc. acquired a new position in Visa during the 4th quarter valued at about $26,000. Bradley & Co. Private Wealth Management LLC acquired a new position in shares of Visa during the fourth quarter worth approximately $27,000. POM Investment Strategies LLC grew its holdings in Visa by 48.5% in the 4th quarter. POM Investment Strategies LLC now owns 98 shares of the credit-card processor's stock worth $31,000 after buying an additional 32 shares in the last quarter. Modus Advisors LLC acquired a new stake in Visa in the 4th quarter valued at approximately $32,000. Finally, Compass Planning Associates Inc bought a new stake in Visa during the 4th quarter valued at $32,000. 82.15% of the stock is owned by institutional investors and hedge funds.
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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