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

Visa Inc. (NYSE:VGet Free Report)’s share price fell 1.8% during trading on Friday . The company traded as low as $357.00 and last traded at $358.5090. Approximately 7,396,652 shares were traded during mid-day trading, a decline of 8% from the average daily volume of 8,074,779 shares. The stock had previously closed at $365.14.

Key Stories Impacting Visa

Here are the key news stories impacting Visa this week:

Wall Street Analysts Forecast Growth

A number of equities analysts have recently weighed in on V shares. Robert W. Baird set a $412.00 target price on Visa and gave the stock an “outperform” rating in a research report on Monday, July 6th. Evercore set a $350.00 price target on shares of Visa in a research note on Wednesday, April 29th. Piper Sandler assumed coverage on shares of Visa in a report on Monday, June 29th. They set an “overweight” rating and a $394.00 price objective on the stock. Loop Capital assumed coverage on shares of Visa in a research note on Tuesday, March 31st. They issued a “buy” rating and a $387.00 price objective on the stock. Finally, Raymond James Financial reiterated an “outperform” rating and set a $389.00 price objective on shares of Visa in a report on Wednesday, April 29th. Seven analysts have rated the stock with a Strong Buy rating, eighteen have issued a Buy rating and one has given a Hold rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Buy” and an average price target of $398.36.

Get Our Latest Stock Analysis on V

Visa Stock Performance

The company has a market cap of $643.08 billion, a PE ratio of 31.23, a PEG ratio of 1.90 and a beta of 0.75. The company has a quick ratio of 1.09, a current ratio of 1.09 and a debt-to-equity ratio of 0.64. The company has a 50-day moving average of $333.61 and a 200-day moving average of $324.96.

Visa (NYSE:VGet Free Report) last announced its quarterly earnings results on Tuesday, April 28th. The credit-card processor reported $3.31 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.10 by $0.21. Visa had a return on equity of 65.00% and a net margin of 51.68%.The business had revenue of $11.23 billion during the quarter, compared to the consensus estimate of $10.75 billion. During the same quarter in the prior year, the company posted $2.76 earnings per share. Visa’s revenue was up 17.1% compared to the same quarter last year. As a group, analysts anticipate that Visa Inc. will post 13.1 earnings per share for the current year.

Visa Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, June 1st. Stockholders of record on Tuesday, May 12th were paid a $0.67 dividend. The ex-dividend date was Tuesday, May 12th. This represents a $2.68 annualized dividend and a dividend yield of 0.7%. Visa’s dividend payout ratio is presently 23.34%.

Visa announced that its Board of Directors has approved a stock buyback plan on Tuesday, April 28th that permits the company to repurchase $20.00 billion in shares. This repurchase authorization permits the credit-card processor to buy up to 3.6% of its stock through open market purchases. Stock repurchase plans are usually an indication that the company’s board of directors believes its stock is undervalued.

Insider Activity

In other Visa news, CEO Ryan Mcinerney sold 10,490 shares of the company’s stock in a transaction dated Wednesday, July 1st. The shares were sold at an average price of $343.99, for a total value of $3,608,455.10. Following the completion of the sale, the chief executive officer directly owned 15,174 shares of the company’s stock, valued at approximately $5,219,704.26. This represents a 40.87% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO Chris Suh sold 10,639 shares of the company’s stock in a transaction dated Tuesday, May 12th. The stock was sold at an average price of $324.81, for a total transaction of $3,455,653.59. Following the completion of the sale, the chief financial officer directly owned 9,872 shares of the company’s stock, valued at $3,206,524.32. The trade was a 51.87% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 75,581 shares of company stock worth $25,627,975 over the last quarter. Insiders own 0.12% of the company’s stock.

Hedge Funds Weigh In On Visa

Hedge funds and other institutional investors have recently modified their holdings of the business. Vanguard Group Inc. increased its position in shares of Visa by 0.7% during the 4th quarter. Vanguard Group Inc. now owns 160,975,832 shares of the credit-card processor’s stock valued at $56,455,834,000 after purchasing an additional 1,054,343 shares during the last quarter. State Street Corp boosted its holdings in shares of Visa by 0.8% in the 4th quarter. State Street Corp now owns 82,798,151 shares of the credit-card processor’s stock worth $29,038,140,000 after buying an additional 626,821 shares during the last quarter. Geode Capital Management LLC boosted its holdings in shares of Visa by 0.9% in the 4th quarter. Geode Capital Management LLC now owns 44,042,586 shares of the credit-card processor’s stock worth $15,411,395,000 after buying an additional 388,996 shares during the last quarter. Price T Rowe Associates Inc. MD grew its position in Visa by 1.8% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 41,092,294 shares of the credit-card processor’s stock valued at $14,411,480,000 after buying an additional 716,218 shares during the period. Finally, Bank of America Corp DE increased its holdings in Visa by 1.7% during the fourth quarter. Bank of America Corp DE now owns 23,835,336 shares of the credit-card processor’s stock worth $8,359,291,000 after buying an additional 398,459 shares during the last quarter. Hedge funds and other institutional investors own 82.15% of the company’s stock.

Visa Company Profile

(Get Free Report)

Visa Inc is a global payments technology company that facilitates electronic funds transfers and digital commerce by connecting consumers, merchants, financial institutions and governments. The firm operates one of the world’s largest payment networks, providing processing, authorization, clearing and settlement services for credit, debit and prepaid card transactions. Visa’s network-based model enables partner banks and other issuers to offer branded payment products while Visa focuses on the infrastructure, standards and technologies that move money securely and efficiently around the world.

Visa’s product and service portfolio includes card-based payment products for consumers and businesses, real-time push-payment capabilities, tokenization and authentication services, fraud and risk-management tools, data analytics and APIs for fintech and merchant integration.

Further Reading

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