Visa (NYSE:V) Trading Down 1.8% – What’s Next?

Visa Inc. (NYSE:V)’s stock price traded down 1.8% on Friday . The company traded as low as $329.03 and last traded at $329.8940. 6,397,871 shares changed hands during mid-day trading, an increase of 0% from the average session volume of 6,379,497 shares. The stock had previously closed at $336.08.

Analysts Set New Price Targets

A number of brokerages have recently issued reports on V. Barclays reaffirmed an “overweight” rating and set a $408.00 price target (up previously from $396.00) on shares of Visa in a report on Thursday, July 31st. KeyCorp reaffirmed an “overweight” rating and issued a $405.00 price objective on shares of Visa in a research note on Wednesday, October 22nd. Truist Financial reduced their price objective on shares of Visa from $400.00 to $397.00 and set a “buy” rating on the stock in a research report on Thursday, July 17th. Weiss Ratings restated a “buy (b)” rating on shares of Visa in a research report on Wednesday, October 8th. Finally, Raymond James Financial reaffirmed an “outperform” rating and set a $408.00 price objective (up from $398.00) on shares of Visa in a report on Wednesday, October 29th. Four research analysts have rated the stock with a Strong Buy rating, seventeen have given a Buy rating and five have given a Hold rating to the stock. According to data from MarketBeat, Visa currently has a consensus rating of “Moderate Buy” and a consensus price target of $400.00.

Visa Stock Down 1.8%

The company has a debt-to-equity ratio of 0.53, a quick ratio of 1.08 and a current ratio of 1.08. The company’s fifty day moving average price is $342.43 and its 200-day moving average price is $348.69. The stock has a market cap of $604.63 billion, a P/E ratio of 32.31, a price-to-earnings-growth ratio of 2.05 and a beta of 0.87.

Visa (NYSE:V) last posted its quarterly earnings data on Tuesday, October 28th. The credit-card processor reported $2.98 earnings per share for the quarter, topping analysts’ consensus estimates of $2.97 by $0.01. Visa had a net margin of 50.15% and a return on equity of 60.31%. The company had revenue of $10.72 billion for the quarter, compared to analyst estimates of $10.60 billion. During the same period in the prior year, the company posted $2.71 EPS. The firm’s revenue for the quarter was up 11.5% on a year-over-year basis. Equities analysts forecast that Visa Inc. will post 11.3 EPS for the current year.

Visa Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, December 1st. Shareholders of record on Wednesday, November 12th will be given a $0.67 dividend. This is a boost from Visa’s previous quarterly dividend of $0.59. The ex-dividend date of this dividend is Wednesday, November 12th. This represents a $2.68 annualized dividend and a yield of 0.8%. Visa’s dividend payout ratio is currently 26.25%.

Insider Activity

In other news, Director Lloyd Carney sold 900 shares of the company’s stock in a transaction dated Tuesday, November 4th. The shares were sold at an average price of $336.48, for a total value of $302,832.00. Following the transaction, the director directly owned 2,468 shares in the company, valued at approximately $830,432.64. This represents a 26.72% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CEO Ryan Mcinerney sold 10,485 shares of the firm’s stock in a transaction dated Monday, November 3rd. The stock was sold at an average price of $341.00, for a total transaction of $3,575,385.00. Following the completion of the transaction, the chief executive officer directly owned 537 shares in the company, valued at $183,117. This represents a 95.13% decrease in their position. The SEC filing for this sale provides additional information. Over the last ninety days, insiders sold 23,897 shares of company stock valued at $8,164,561. 0.13% of the stock is currently owned by company insiders.

Institutional Trading of Visa

A number of large investors have recently modified their holdings of V. Norges Bank bought a new stake in shares of Visa in the 2nd quarter valued at about $7,034,939,000. Nuveen LLC purchased a new stake in shares of Visa during the 1st quarter worth $3,518,533,000. TCI Fund Management Ltd. lifted its position in shares of Visa by 14.6% during the second quarter. TCI Fund Management Ltd. now owns 19,067,558 shares of the credit-card processor’s stock valued at $6,769,936,000 after buying an additional 2,429,996 shares during the last quarter. Corient Private Wealth LLC boosted its holdings in shares of Visa by 110.4% in the 2nd quarter. Corient Private Wealth LLC now owns 3,954,937 shares of the credit-card processor’s stock valued at $1,396,930,000 after buying an additional 2,075,289 shares in the last quarter. Finally, Vanguard Group Inc. grew its position in shares of Visa by 1.1% in the 1st quarter. Vanguard Group Inc. now owns 161,082,431 shares of the credit-card processor’s stock worth $56,452,949,000 after buying an additional 1,677,088 shares during the last quarter. Hedge funds and other institutional investors own 82.15% of the company’s stock.

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.