Visa (NYSE:V) General Counsel Sells $729,720.00 in Stock

Visa Inc. (NYSE:V) General Counsel Julie Rottenberg sold 2,027 shares of the business’s stock in a transaction that occurred on Thursday, July 2nd. The shares were sold at an average price of $360.00, for a total transaction of $729,720.00. Following the completion of the sale, the general counsel directly owned 18,404 shares in the company, valued at approximately $6,625,440. This trade represents a 9.92% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Visa Price Performance

NYSE V traded down $4.91 during trading hours on Monday, hitting $357.22. The company had a trading volume of 11,482,851 shares, compared to its average volume of 8,088,925. The company has a debt-to-equity ratio of 0.64, a quick ratio of 1.09 and a current ratio of 1.09. The firm has a market capitalization of $640.77 billion, a price-to-earnings ratio of 31.12, a PEG ratio of 1.93 and a beta of 0.75. Visa Inc. has a 52 week low of $293.89 and a 52 week high of $365.02. The firm has a 50 day simple moving average of $327.17 and a 200 day simple moving average of $324.74.

Visa (NYSE:V) last posted its 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 net margin of 51.68% and a return on equity of 65.00%. The business had revenue of $11.23 billion for the quarter, compared to analysts’ expectations of $10.75 billion. During the same period in the prior year, the company posted $2.76 EPS. The business’s revenue for the quarter was up 17.1% compared to the same quarter last year. Equities research analysts expect that Visa Inc. will post 13.1 earnings per share for the current year.

Visa Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, June 1st. Investors of record on Tuesday, May 12th were issued a dividend of $0.67 per share. This represents a $2.68 dividend on an annualized basis and a dividend yield of 0.8%. The ex-dividend date of this dividend was Tuesday, May 12th. Visa’s dividend payout ratio (DPR) is currently 23.34%.

Visa announced that its board has authorized a share buyback program 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 programs are generally a sign that the company’s board of directors believes its stock is undervalued.

Wall Street Analyst Weigh In

A number of equities research analysts have recently weighed in on V shares. Cantor Fitzgerald reissued an “overweight” rating and issued a $400.00 target price on shares of Visa in a research note on Wednesday, April 29th. Citigroup decreased their target price on Visa from $450.00 to $400.00 and set a “buy” rating for the company in a report on Tuesday, April 14th. Truist Financial set a $371.00 price target on shares of Visa and gave the company a “buy” rating in a research report on Tuesday, May 12th. Evercore set a $350.00 price objective on Visa in a research report on Wednesday, April 29th. Finally, Morgan Stanley restated an “overweight” rating and set a $415.00 price target on shares of Visa in a research report on Wednesday, April 29th. Six research analysts have rated the stock with a Strong Buy rating, eighteen have assigned a Buy rating and two have given a Hold rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Buy” and a consensus target price of $397.39.

More Visa News

Here are the key news stories impacting Visa this week:

• Positive Sentiment: Visa is being highlighted as poised to beat upcoming earnings estimates again, supported by its strong history of earnings surprises and favorable setup for another quarterly outperformance. Why Visa (V) is Poised to Beat Earnings Estimates Again
• Positive Sentiment: Visa is also being described as a strong long-term holding, reinforcing the view that investors see durable business quality and attractive portfolio fit. Why Visa (V) is a Top Stock for the Long-Term
• Positive Sentiment: Visa’s stablecoin analytics showed record June transaction volume of $1.79 trillion, suggesting continued growth in digital payments activity and potential upside from crypto-linked payment rails. Stablecoin transaction volume hits record $1.79T in June
• Positive Sentiment: Visa was included in a note discussing Bank of America’s top U.S. Q3 stock picks, which can support investor confidence in the name. 4 of Bank of America’s Top US Q3 Picks Pay Dividends With Double-Digit Upside Potential
• Neutral Sentiment: One commentary argued Visa is fundamentally strong but preferred waiting for a better entry point, which is more of a valuation caution than a business concern. Visa Is Fundamentally Robust, But I’ll Wait For Better Entry Points
• Neutral Sentiment: Analyst-focused pieces and broader market commentary were generally supportive, but they do not appear to introduce a major new catalyst on their own. Is It Worth Investing in Visa (V) Based on Wall Street’s Bullish Views?

Institutional Investors Weigh In On Visa

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Clayton Financial Group LLC grew its position in shares of Visa by 446.2% during the 4th quarter. Clayton Financial Group LLC now owns 71 shares of the credit-card processor’s stock valued at $25,000 after acquiring an additional 58 shares during the period. PayPay Securities Corp increased its stake in shares of Visa by 102.7% in the fourth quarter. PayPay Securities Corp now owns 75 shares of the credit-card processor’s stock worth $26,000 after purchasing an additional 38 shares in the last quarter. Cresta Advisors Ltd. bought a new stake in shares of Visa during the 4th quarter valued at $26,000. Parvin Asset Management LLC increased its stake in Visa by 200.0% in the 3rd quarter. Parvin Asset Management LLC now owns 75 shares of the credit-card processor’s stock worth $26,000 after buying an additional 50 shares in the last quarter. Finally, Dorato Capital Management bought a new stake in Visa during the fourth quarter valued at about $30,000. Hedge funds and other institutional investors own 82.15% of the company’s stock.

Visa Company Profile

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.