Visa Inc. (NYSE:V – Get Rating) – Research analysts at Jefferies Financial Group raised their Q1 2023 earnings per share estimates for Visa in a note issued to investors on Wednesday, January 18th. Jefferies Financial Group analyst T. Williams now forecasts that the credit-card processor will post earnings per share of $2.01 for the quarter, up from their prior estimate of $2.00. Jefferies Financial Group currently has a “Buy” rating and a $260.00 price target on the stock. The consensus estimate for Visa’s current full-year earnings is $8.28 per share.
Visa (NYSE:V – Get Rating) last posted its quarterly earnings results on Tuesday, October 25th. The credit-card processor reported $1.93 earnings per share for the quarter, beating analysts’ consensus estimates of $1.86 by $0.07. The firm had revenue of $7.79 billion during the quarter, compared to the consensus estimate of $7.55 billion. Visa had a return on equity of 48.56% and a net margin of 51.03%.
Visa Stock Up 1.8 %
V stock opened at $224.31 on Friday. The company has a quick ratio of 1.45, a current ratio of 1.45 and a debt-to-equity ratio of 0.61. The business has a 50 day moving average price of $212.30 and a two-hundred day moving average price of $204.33. The company has a market cap of $422.49 billion, a price-to-earnings ratio of 32.09, a P/E/G ratio of 1.80 and a beta of 0.95. Visa has a twelve month low of $174.60 and a twelve month high of $235.85.
Institutional Inflows and Outflows
A number of hedge funds and other institutional investors have recently made changes to their positions in V. Bishop Rock Capital L.P. raised its stake in shares of Visa by 20,610.1% in the second quarter. Bishop Rock Capital L.P. now owns 5,031,721 shares of the credit-card processor’s stock worth $25,556,000 after purchasing an additional 5,007,425 shares during the last quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. raised its stake in shares of Visa by 290.9% in the third quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. now owns 4,428,383 shares of the credit-card processor’s stock worth $786,702,000 after purchasing an additional 3,295,642 shares during the last quarter. Cottage Street Advisors LLC grew its holdings in shares of Visa by 15,603.1% in the fourth quarter. Cottage Street Advisors LLC now owns 3,156,323 shares of the credit-card processor’s stock valued at $998,000 after acquiring an additional 3,136,223 shares in the last quarter. Alliancebernstein L.P. grew its holdings in shares of Visa by 7.0% in the third quarter. Alliancebernstein L.P. now owns 27,141,800 shares of the credit-card processor’s stock valued at $4,821,741,000 after acquiring an additional 1,785,695 shares in the last quarter. Finally, Voya Investment Management LLC grew its holdings in shares of Visa by 222.7% in the second quarter. Voya Investment Management LLC now owns 2,499,636 shares of the credit-card processor’s stock valued at $492,154,000 after acquiring an additional 1,724,984 shares in the last quarter. 81.87% of the stock is owned by institutional investors and hedge funds.
In related news, insider Rajat Taneja sold 25,627 shares of the business’s stock in a transaction on Friday, December 2nd. The stock was sold at an average price of $216.67, for a total transaction of $5,552,602.09. Following the sale, the insider now owns 232,112 shares in the company, valued at approximately $50,291,707.04. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In other news, President Ryan Mcinerney sold 58,197 shares of the business’s stock in a transaction dated Monday, January 9th. The stock was sold at an average price of $62.47, for a total value of $3,635,566.59. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, insider Rajat Taneja sold 25,627 shares of the business’s stock in a transaction dated Friday, December 2nd. The shares were sold at an average price of $216.67, for a total value of $5,552,602.09. Following the completion of the transaction, the insider now directly owns 232,112 shares in the company, valued at $50,291,707.04. The disclosure for this sale can be found here. Corporate insiders own 0.21% of the company’s stock.
Visa declared that its Board of Directors has authorized a stock repurchase plan on Tuesday, October 25th that permits the company to buyback $12.00 billion in shares. This buyback authorization permits the credit-card processor to purchase up to 3.1% of its shares through open market purchases. Shares buyback plans are usually an indication that the company’s management believes its shares are undervalued.
Visa Cuts Dividend
The firm also recently declared a quarterly dividend, which was paid on Tuesday, January 3rd. Stockholders of record on Friday, December 16th were paid a $0.395 dividend. The ex-dividend date of this dividend was Thursday, December 15th. This represents a $1.58 annualized dividend and a dividend yield of 0.70%. Visa’s payout ratio is 25.75%.
Visa, Inc engages in the provision of digital payment services. It also facilitates global commerce through the transfer of value and information among a global network of consumers, merchants, financial institutions, businesses, strategic partners, and government entities. It offers debit cards, credit cards, prepaid products, commercial payment solutions, and global automated teller machines (ATMs).
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