Visa (NYSE:V) Stock Price Up 1.6% – Here’s What Happened

Visa Inc. (NYSE:VGet Free Report)’s stock price rose 1.6% during trading on Monday . The company traded as high as $309.75 and last traded at $309.2010. Approximately 6,778,984 shares were traded during mid-day trading, a decline of 14% from the average daily volume of 7,889,683 shares. The stock had previously closed at $304.36.

Visa News Roundup

Here are the key news stories impacting Visa this week:

Wall Street Analysts Forecast Growth

V has been the subject of a number of recent analyst reports. UBS Group lowered their price objective on Visa from $425.00 to $390.00 and set a “buy” rating for the company in a research report on Tuesday, March 31st. TD Cowen restated a “buy” rating on shares of Visa in a research note on Friday, January 30th. Truist Financial set a $372.00 price target on Visa in a research note on Tuesday, February 10th. Rothschild & Co Redburn set a $385.00 price target on Visa in a research note on Wednesday, January 28th. Finally, Piper Sandler set a $160.00 price target on Visa in a research note on Wednesday, January 28th. Six research analysts have rated the stock with a Strong Buy rating, twenty-one have assigned a Buy rating and two have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Buy” and an average target price of $388.88.

View Our Latest Report on V

Visa Price Performance

The company has a 50-day moving average price of $312.08 and a two-hundred day moving average price of $329.78. The company has a debt-to-equity ratio of 0.51, a current ratio of 1.11 and a quick ratio of 1.11. The company has a market cap of $565.15 billion, a PE ratio of 29.21, a P/E/G ratio of 1.77 and a beta of 0.80.

Visa (NYSE:VGet Free Report) last issued its earnings results on Thursday, January 29th. The credit-card processor reported $3.17 earnings per share for the quarter, topping the consensus estimate of $3.14 by $0.03. Visa had a return on equity of 61.74% and a net margin of 50.23%.The company had revenue of $10.90 billion during the quarter, compared to the consensus estimate of $10.69 billion. During the same quarter in the prior year, the business earned $2.75 earnings per share. The company’s revenue was up 14.6% compared to the same quarter last year. Sell-side 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 2nd. Investors of record on Tuesday, February 10th were issued a $0.67 dividend. The ex-dividend date of this dividend was Tuesday, February 10th. This represents a $2.68 dividend on an annualized basis and a yield of 0.9%. Visa’s dividend payout ratio is currently 25.14%.

Insider Buying and Selling

In related news, Director Lloyd Carney sold 650 shares of the stock in a transaction dated Wednesday, March 11th. The stock was sold at an average price of $309.62, for a total value of $201,253.00. Following the completion of the transaction, the director owned 2,679 shares of the company’s stock, valued at approximately $829,471.98. This represents a 19.53% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Corporate insiders own 0.12% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of the business. J. Derek Lewis & Associates Inc. purchased a new position in Visa in the fourth quarter valued at about $861,000. Purpose Unlimited Inc. acquired a new stake in Visa during the fourth quarter valued at approximately $1,404,000. Stance Capital LLC raised its stake in Visa by 54.4% during the fourth quarter. Stance Capital LLC now owns 12,910 shares of the credit-card processor’s stock valued at $4,528,000 after buying an additional 4,547 shares in the last quarter. Carter Financial LLC acquired a new stake in Visa during the fourth quarter valued at approximately $610,000. Finally, Cornerstone Planning LLC acquired a new stake in Visa during the fourth quarter valued at approximately $3,688,000. 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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