Visa Inc. (NYSE:V) CEO Sells $3,020,792.80 in Stock

Visa Inc. (NYSE:V) CEO Ryan Mcinerney sold 8,620 shares of the company’s stock in a transaction on Tuesday, April 1st. The stock was sold at an average price of $350.44, for a total value of $3,020,792.80. Following the sale, the chief executive officer now owns 537 shares of the company’s stock, valued at $188,186.28. This trade represents a 94.14 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this hyperlink.

Ryan Mcinerney also recently made the following trade(s):

• On Monday, March 3rd, Ryan Mcinerney sold 8,620 shares of Visa stock. The stock was sold at an average price of $363.00, for a total transaction of $3,129,060.00.
• On Monday, February 3rd, Ryan Mcinerney sold 8,620 shares of Visa stock. The shares were sold at an average price of $340.00, for a total transaction of $2,930,800.00.

Visa Stock Down 7.6 %

V stock opened at $313.46 on Friday. The company’s 50 day moving average is $345.02 and its 200 day moving average is $317.07. The stock has a market cap of $582.34 billion, a price-to-earnings ratio of 31.60, a price-to-earnings-growth ratio of 2.33 and a beta of 0.94. The company has a current ratio of 1.12, a quick ratio of 1.12 and a debt-to-equity ratio of 0.45. Visa Inc. has a 1-year low of $252.70 and a 1-year high of $366.54.

Visa (NYSE:V) last issued its quarterly earnings results on Thursday, January 30th. The credit-card processor reported $2.75 EPS for the quarter, topping analysts’ consensus estimates of $2.66 by $0.09. Visa had a net margin of 54.27% and a return on equity of 54.79%. Sell-side analysts predict that Visa Inc. will post 11.3 EPS for the current fiscal year.

Visa Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, March 3rd. Shareholders 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 dividend on an annualized basis and a yield of 0.75%. Visa’s payout ratio is 23.79%.

Hedge Funds Weigh In On Visa

Hedge funds and other institutional investors have recently modified their holdings of the company. Howard Capital Management Group LLC grew its stake in shares of Visa by 0.6% during the third quarter. Howard Capital Management Group LLC now owns 106,355 shares of the credit-card processor’s stock valued at $29,242,000 after buying an additional 610 shares during the last quarter. Principal Financial Group Inc. grew its position in Visa by 7.7% during the 3rd quarter. Principal Financial Group Inc. now owns 5,733,284 shares of the credit-card processor’s stock worth $1,576,366,000 after acquiring an additional 411,210 shares during the last quarter. Morse Asset Management Inc purchased a new position in Visa in the 3rd quarter worth approximately $69,000. Mission Creek Capital Partners Inc. lifted its position in Visa by 1.0% in the third quarter. Mission Creek Capital Partners Inc. now owns 22,130 shares of the credit-card processor’s stock valued at $6,085,000 after purchasing an additional 215 shares during the last quarter. Finally, Menard Financial Group LLC boosted its stake in shares of Visa by 0.6% during the third quarter. Menard Financial Group LLC now owns 6,217 shares of the credit-card processor’s stock valued at $1,709,000 after purchasing an additional 35 shares during the period. 82.15% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

V has been the subject of several research analyst reports. Susquehanna reaffirmed a “positive” rating on shares of Visa in a research report on Friday, March 21st. StockNews.com raised shares of Visa from a “hold” rating to a “buy” rating in a research report on Friday, March 28th. Raymond James reiterated 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. Bank of America raised their price target on shares of Visa from $331.00 to $363.00 and gave the stock a “neutral” rating in a research note on Friday, January 31st. Finally, Barclays upped their price objective on Visa from $361.00 to $396.00 and gave the company an “overweight” rating in a research note on Monday, February 3rd. Five equities research analysts have rated the stock with a hold rating, twenty-three have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, Visa has a consensus rating of “Moderate Buy” and an average price target of $355.84.

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.