Visa (NYSE:V) Stock Price Up 1.4% - Here's What Happened

Visa Inc. (NYSE:V - Get Free Report) shares traded up 1.4% during trading on Monday . The company traded as high as $339.61 and last traded at $337.97. 1,246,269 shares traded hands during trading, a decline of 83% from the average session volume of 7,250,938 shares. The stock had previously closed at $333.40.

Wall Street Analysts Forecast Growth

A number of equities research analysts have weighed in on the company. Barclays lifted their price objective on Visa from $361.00 to $396.00 and gave the company an "overweight" rating in a report on Monday, February 3rd. JPMorgan Chase & Co. boosted their price target on Visa from $340.00 to $375.00 and gave the company an "overweight" rating in a research note on Friday, January 31st. Bank of America increased their price objective on Visa from $331.00 to $363.00 and gave the stock a "neutral" rating in a research note on Friday, January 31st. Wells Fargo & Company boosted their target price on shares of Visa from $360.00 to $395.00 and gave the company an "overweight" rating in a research note on Friday, January 31st. Finally, UBS Group upped their target price on shares of Visa from $350.00 to $400.00 and gave the stock a "buy" rating in a report on Friday, January 31st. Seven equities research analysts have rated the stock with a hold rating, twenty-one have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, Visa has a consensus rating of "Moderate Buy" and a consensus price target of $355.84.

Visa Stock Performance

The stock's 50 day moving average is $342.40 and its two-hundred day moving average is $319.09. The firm has a market capitalization of $625.03 billion, a P/E ratio of 33.92, a P/E/G ratio of 2.33 and a beta of 0.94. The company has a debt-to-equity ratio of 0.45, a current ratio of 1.12 and a quick ratio of 1.12.

Remove Ads

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, beating the consensus estimate of $2.66 by $0.09. Visa had a net margin of 54.27% and a return on equity of 54.79%. As a group, equities analysts anticipate that Visa Inc. will post 11.3 earnings per share for the current fiscal year.

Visa Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, March 3rd. Stockholders of record on Tuesday, February 11th were given a dividend of $0.59 per share. The ex-dividend date of this dividend was Tuesday, February 11th. This represents a $2.36 annualized dividend and a dividend yield of 0.70%. Visa's payout ratio is currently 23.79%.

Insider Activity

In other Visa news, CEO Ryan Mcinerney sold 8,620 shares of Visa stock in a transaction that occurred on Tuesday, April 1st. The shares were sold at an average price of $350.44, for a total value of $3,020,792.80. Following the transaction, the chief executive officer now owns 537 shares of the company's stock, valued at approximately $188,186.28. The trade was a 94.14 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, General Counsel Julie B. Rottenberg sold 2,572 shares of the company's stock in a transaction that occurred on Monday, February 3rd. The shares were sold at an average price of $340.00, for a total transaction of $874,480.00. Following the completion of the transaction, the general counsel now owns 11,925 shares of the company's stock, valued at $4,054,500. This trade represents a 17.74 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 143,205 shares of company stock valued at $48,842,490 in the last ninety days. 0.13% of the stock is owned by insiders.

Institutional Investors Weigh In On Visa

Several institutional investors have recently added to or reduced their stakes in the stock. Hirtle Callaghan & Co LLC boosted its position in shares of Visa by 1.3% during the fourth quarter. Hirtle Callaghan & Co LLC now owns 2,291 shares of the credit-card processor's stock worth $724,000 after buying an additional 29 shares during the period. FWL Investment Management LLC boosted its position in Visa by 0.5% during the 4th quarter. FWL Investment Management LLC now owns 6,344 shares of the credit-card processor's stock worth $2,005,000 after acquiring an additional 29 shares during the last quarter. Elevation Wealth Partners LLC grew its stake in shares of Visa by 3.3% during the 4th quarter. Elevation Wealth Partners LLC now owns 939 shares of the credit-card processor's stock worth $297,000 after acquiring an additional 30 shares in the last quarter. Warther Private Wealth LLC raised its holdings in shares of Visa by 1.0% in the fourth quarter. Warther Private Wealth LLC now owns 2,935 shares of the credit-card processor's stock valued at $928,000 after purchasing an additional 30 shares during the last quarter. Finally, Valmark Advisers Inc. lifted its position in shares of Visa by 0.4% in the fourth quarter. Valmark Advisers Inc. now owns 7,251 shares of the credit-card processor's stock worth $2,292,000 after purchasing an additional 30 shares in the last quarter. 82.15% of the stock is owned by institutional investors.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.