Visa (NYSE:V) CEO Sells $2,230,443.75 in Stock

Visa Inc. (NYSE:V) CEO Ryan Mcinerney sold 5,875 shares of the firm’s stock in a transaction dated Tuesday, September 1st. The stock was sold at an average price of $379.65, for a total value of $2,230,443.75. Following the completion of the transaction, the chief executive officer owned 15,174 shares of the company’s stock, valued at approximately $5,760,809.10. This represents a 27.91% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Ryan Mcinerney also recently made the following trade(s):

• On Friday, August 21st, Ryan Mcinerney sold 5,875 shares of Visa stock. The shares were sold at an average price of $367.87, for a total transaction of $2,161,236.25.
• On Wednesday, July 1st, Ryan Mcinerney sold 10,490 shares of Visa stock. The shares were sold at an average price of $343.99, for a total transaction of $3,608,455.10.
• On Monday, June 29th, Ryan Mcinerney sold 20,970 shares of Visa stock. The stock was sold at an average price of $340.25, for a total transaction of $7,135,042.50.

Visa Stock Down 1.1%

Shares of NYSE:V opened at $374.46 on Friday. The firm has a fifty day moving average price of $363.63 and a two-hundred day moving average price of $333.27. The company has a debt-to-equity ratio of 0.60, a current ratio of 0.99 and a quick ratio of 0.99. Visa Inc. has a one year low of $293.89 and a one year high of $385.57. The company has a market cap of $668.20 billion, a price-to-earnings ratio of 31.84, a PEG ratio of 2.03 and a beta of 0.76.

Visa (NYSE:V) last released its quarterly earnings results on Tuesday, July 28th. The credit-card processor reported $3.32 earnings per share for the quarter, topping the consensus estimate of $3.23 by $0.09. The firm had revenue of $11.63 billion for the quarter, compared to analysts’ expectations of $11.40 billion. Visa had a net margin of 50.78% and a return on equity of 67.68%. The business’s quarterly revenue was up 14.4% on a year-over-year basis. During the same quarter in the prior year, the firm posted $2.98 earnings per share. Analysts anticipate that Visa Inc. will post 13.16 EPS for the current fiscal year.

Visa Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, September 1st. Stockholders of record on Tuesday, August 11th were issued a dividend of $0.67 per share. The ex-dividend date of this dividend was Tuesday, August 11th. This represents a $2.68 annualized dividend and a dividend yield of 0.7%. Visa’s payout ratio is presently 22.79%.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the stock. Cresta Advisors Ltd. bought a new position in Visa during the 4th quarter worth approximately $26,000. Parvin Asset Management LLC lifted its position in Visa by 200.0% in the third quarter. Parvin Asset Management LLC now owns 75 shares of the credit-card processor’s stock valued at $26,000 after purchasing an additional 50 shares during the last quarter. Philadelphia Investment Partners LLC purchased a new stake in shares of Visa during the second quarter valued at approximately $29,000. Virtus Advisers LLC purchased a new stake in shares of Visa during the second quarter valued at approximately $33,000. Finally, RHL Group LLC purchased a new position in shares of Visa in the fourth quarter worth $34,000. Hedge funds and other institutional investors own 82.15% of the company’s stock.

Analysts Set New Price Targets

A number of research firms have commented on V. UBS Group reissued a “buy” rating and issued a $420.00 price target (up from $410.00) on shares of Visa in a research note on Wednesday, July 29th. Barclays assumed coverage on shares of Visa in a research report on Tuesday, July 7th. They set an “overweight” rating and a $420.00 price objective on the stock. BNP Paribas Exane upgraded shares of Visa to a “strong-buy” rating in a research report on Tuesday, July 21st. Cantor Fitzgerald set a $445.00 target price on Visa and gave the company an “overweight” rating in a research note on Monday, August 3rd. Finally, Weiss Ratings raised Visa from a “buy (b-)” rating to a “buy (b)” rating in a research note on Thursday, July 30th. Seven research analysts have rated the stock with a Strong Buy rating and twenty-four have assigned a Buy rating to the company. According to MarketBeat, the stock currently has an average rating of “Buy” and a consensus price target of $416.62.

About Visa

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.