Visa (NYSE:V) General Counsel Julie Rottenberg Sells 1,867 Shares of Stock

Visa Inc. (NYSE:V) General Counsel Julie Rottenberg sold 1,867 shares of the firm’s stock in a transaction that occurred on Monday, November 9th. The shares were sold at an average price of $423.00, for a total transaction of $789,741.00. Following the completion of the sale, the general counsel directly owned 18,404 shares in the company, valued at $7,784,892. This represents a 9.21% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Visa Price Performance

Visa stock traded up $0.79 during mid-day trading on Tuesday, hitting $422.95. 5,581,655 shares of the company traded hands, compared to its average volume of 7,532,372. Visa Inc. has a one year low of $293.89 and a one year high of $442.23. The stock has a market cap of $754.72 billion, a price-to-earnings ratio of 34.30, a price-to-earnings-growth ratio of 1.86 and a beta of 0.80. The company has a debt-to-equity ratio of 0.54, a quick ratio of 0.99 and a current ratio of 0.97. The stock has a fifty day moving average price of $386.67 and a 200-day moving average price of $345.18.

Visa (NYSE:V) last released its quarterly earnings results on Tuesday, October 27th. The credit-card processor reported $3.48 EPS for the quarter, topping analysts’ consensus estimates of $3.44 by $0.04. The business had revenue of $12.14 billion during the quarter, compared to analysts’ expectations of $12.09 billion. Visa had a net margin of 51.20% and a return on equity of 70.50%. The business’s quarterly revenue was up 13.2% compared to the same quarter last year. During the same quarter in the previous year, the company earned $2.98 EPS. On average, equities analysts predict that Visa Inc. will post 15.02 earnings per share for the current fiscal year.

Visa Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, December 1st. Investors of record on Tuesday, November 10th will be given a $0.78 dividend. This represents a $3.12 annualized dividend and a yield of 0.7%. This is a boost from Visa’s previous quarterly dividend of $0.67. The ex-dividend date is Tuesday, November 10th. Visa’s dividend payout ratio (DPR) is presently 21.74%.

Institutional Trading of Visa

Several hedge funds have recently added to or reduced their stakes in V. Bank Pictet & Cie Europe AG boosted its stake in shares of Visa by 0.9% during the third quarter. Bank Pictet & Cie Europe AG now owns 606,500 shares of the credit-card processor’s stock valued at $217,934,000 after purchasing an additional 5,568 shares during the period. CFC Planning Co LLC increased its stake in shares of Visa by 13.7% in the third quarter. CFC Planning Co LLC now owns 13,305 shares of the credit-card processor’s stock worth $4,781,000 after buying an additional 1,607 shares during the period. Vega Investment Solutions purchased a new position in shares of Visa in the second quarter worth $829,000. Brooklands Fund Management Ltd purchased a new position in shares of Visa in the third quarter worth $5,291,000. Finally, XXEC Inc. raised its holdings in Visa by 153,118.8% during the 2nd quarter. XXEC Inc. now owns 186,260,448 shares of the credit-card processor’s stock valued at $63,904,097,000 after buying an additional 186,138,883 shares during the last quarter. 82.15% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of equities research analysts have weighed in on V shares. Barclays raised their price target on Visa from $420.00 to $440.00 and gave the company an “overweight” rating in a research report on Wednesday, October 28th. Argus upped their price objective on Visa from $396.00 to $420.00 and gave the stock a “buy” rating in a report on Friday, July 31st. Truist Financial increased their price objective on Visa from $443.00 to $470.00 and gave the company a “buy” rating in a research report on Thursday, November 5th. Deutsche Bank Aktiengesellschaft reiterated a “buy” rating and set a $430.00 price objective on shares of Visa in a research report on Wednesday, July 29th. Finally, JPMorgan Chase & Co. raised their price objective on Visa from $450.00 to $455.00 and gave the company an “overweight” rating in a report on Wednesday, October 28th. Two equities research analysts have rated the stock with a Strong Buy rating and thirty-five have assigned a Buy rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Buy” and a consensus target price of $442.29.

About Visa

Visa Inc. operates a global payments network that connects consumers, merchants, financial institutions and governments. Its network supports the authorization, clearing and settlement of electronic payments, including transactions made in person and online. The company’s services include payment processing, fraud prevention, identity and risk management, and money-transfer solutions such as Visa Direct. Visa-branded credit, debit and prepaid cards are issued by participating financial institutions; Visa generally provides the network and related services rather than issuing cards or extending credit directly to consumers.