Traders Buy Visa (V) on Weakness

Investors bought shares of Visa (NYSE:V) on weakness during trading hours on Friday. $327.61 million flowed into the stock on the tick-up and $161.68 million flowed out of the stock on the tick-down, for a money net flow of $165.93 million into the stock. Of all companies tracked, Visa had the 8th highest net in-flow for the day. Visa traded down ($3.49) for the day and closed at $117.70

Several research firms have issued reports on V. ValuEngine raised shares of Visa from a “hold” rating to a “buy” rating in a research report on Monday, April 2nd. Cantor Fitzgerald upped their price target on shares of Visa to $141.00 and gave the stock an “overweight” rating in a research report on Friday, February 2nd. Vetr lowered shares of Visa from a “strong-buy” rating to a “buy” rating and set a $135.00 price target on the stock. in a research report on Thursday. Cowen reaffirmed a “buy” rating and set a $129.00 price target on shares of Visa in a research report on Friday, January 12th. Finally, Loop Capital upped their price target on shares of Visa to $142.00 and gave the stock a “buy” rating in a research report on Friday, February 2nd. Two analysts have rated the stock with a hold rating, thirty-two have given a buy rating and one has assigned a strong buy rating to the company’s stock. Visa presently has a consensus rating of “Buy” and a consensus price target of $134.97.

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The company has a current ratio of 2.07, a quick ratio of 2.07 and a debt-to-equity ratio of 0.60. The company has a market cap of $249,716.50, a P/E ratio of 33.82, a PEG ratio of 1.59 and a beta of 0.99.

Visa (NYSE:V) last released its quarterly earnings results on Thursday, February 1st. The credit-card processor reported $1.08 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.98 by $0.10. Visa had a net margin of 38.12% and a return on equity of 32.97%. The business had revenue of $4.86 billion for the quarter, compared to the consensus estimate of $4.82 billion. During the same period in the prior year, the company posted $0.86 earnings per share. Visa’s revenue was up 9.0% compared to the same quarter last year. equities research analysts forecast that Visa will post 4.38 EPS for the current fiscal year.

Visa declared that its board has approved a stock buyback plan on Thursday, February 1st that allows the company to repurchase $7.50 billion in outstanding shares. This repurchase authorization allows the credit-card processor to repurchase shares of its stock through open market purchases. Stock repurchase plans are typically a sign that the company’s board believes its stock is undervalued.

In related news, EVP Lynne Biggar sold 1,712 shares of the company’s stock in a transaction dated Wednesday, February 14th. The shares were sold at an average price of $120.00, for a total value of $205,440.00. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Corporate insiders own 0.14% of the company’s stock.

Several hedge funds have recently added to or reduced their stakes in the stock. Roble Belko & Company Inc grew its stake in Visa by 220.8% during the fourth quarter. Roble Belko & Company Inc now owns 879 shares of the credit-card processor’s stock worth $100,000 after buying an additional 605 shares in the last quarter. Earnest Partners LLC acquired a new stake in Visa during the fourth quarter worth about $100,000. Financial Gravity Companies Inc. acquired a new stake in Visa during the fourth quarter worth about $112,000. AlphaOne Investment Services LLC acquired a new stake in Visa during the fourth quarter worth about $108,000. Finally, Fusion Family Wealth LLC grew its stake in Visa by 138.8% during the fourth quarter. Fusion Family Wealth LLC now owns 955 shares of the credit-card processor’s stock worth $109,000 after buying an additional 555 shares in the last quarter. Institutional investors and hedge funds own 81.52% of the company’s stock.

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Visa Company Profile

Visa Inc operates as a payments technology company worldwide. The company facilitates commerce through the transfer of value and information among consumers, merchants, financial institutions, businesses, strategic partners, and government entities. It operates VisaNet, a processing network that enables authorization, clearing, and settlement of payment transactions; and offers fraud protection for account holders and assured payment for merchants.

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