Visa (NYSE:V) Shares Gap Down to $265.44

Visa Inc. (NYSE:V)’s share price gapped down before the market opened on Wednesday . The stock had previously closed at $265.44, but opened at $259.12. Visa shares last traded at $261.09, with a volume of 1,199,959 shares.

Analyst Ratings Changes

Several brokerages have issued reports on V. Citigroup increased their price objective on shares of Visa from $314.00 to $321.00 and gave the company a “buy” rating in a research report on Wednesday, April 24th. Evercore ISI dropped their price target on shares of Visa from $335.00 to $330.00 and set an “outperform” rating on the stock in a research note on Tuesday, June 25th. Royal Bank of Canada upped their price objective on shares of Visa from $309.00 to $315.00 and gave the company an “outperform” rating in a research report on Wednesday, April 24th. Redburn Atlantic reaffirmed a “neutral” rating and set a $307.00 target price on shares of Visa in a research report on Wednesday, March 27th. Finally, William Blair reiterated an “outperform” rating on shares of Visa in a research note on Wednesday, April 24th. Six research analysts have rated the stock with a hold rating and twenty-one have given a buy rating to the stock. According to MarketBeat, Visa currently has an average rating of “Moderate Buy” and an average target price of $304.44.

Visa Stock Performance

The company has a quick ratio of 1.40, a current ratio of 1.40 and a debt-to-equity ratio of 0.53. The stock has a 50 day simple moving average of $273.07 and a 200 day simple moving average of $274.01. The company has a market capitalization of $478.03 billion, a price-to-earnings ratio of 29.23, a P/E/G ratio of 1.82 and a beta of 0.95.

Visa (NYSE:V) last released its quarterly earnings data on Tuesday, April 23rd. The credit-card processor reported $2.51 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.43 by $0.08. Visa had a return on equity of 51.23% and a net margin of 53.87%. The business had revenue of $8.78 billion during the quarter, compared to analyst estimates of $8.62 billion. During the same quarter in the previous year, the firm posted $2.09 EPS. The business’s revenue for the quarter was up 9.9% compared to the same quarter last year. As a group, analysts anticipate that Visa Inc. will post 9.94 earnings per share for the current fiscal year.

Visa Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, June 3rd. Investors of record on Friday, May 17th were issued a $0.52 dividend. The ex-dividend date of this dividend was Thursday, May 16th. This represents a $2.08 dividend on an annualized basis and a dividend yield of 0.80%. Visa’s dividend payout ratio (DPR) is presently 23.24%.

Insider Buying and Selling at Visa

In other Visa news, insider Paul D. Fabara sold 25,293 shares of the firm’s stock in a transaction that occurred on Wednesday, May 15th. The shares were sold at an average price of $277.15, for a total value of $7,009,954.95. Following the sale, the insider now owns 17,894 shares in the company, valued at $4,959,322.10. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In other news, Director Lloyd Carney sold 909 shares of the company’s stock in a transaction that occurred on Friday, April 26th. The shares were sold at an average price of $275.55, for a total value of $250,474.95. Following the completion of the sale, the director now directly owns 2,591 shares of the company’s stock, valued at approximately $713,950.05. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Paul D. Fabara sold 25,293 shares of the firm’s stock in a transaction that occurred on Wednesday, May 15th. The shares were sold at an average price of $277.15, for a total transaction of $7,009,954.95. Following the transaction, the insider now owns 17,894 shares in the company, valued at approximately $4,959,322.10. The disclosure for this sale can be found here. 0.19% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Visa

Several large investors have recently made changes to their positions in the business. Long Run Wealth Advisors LLC lifted its holdings in shares of Visa by 2.5% during the first quarter. Long Run Wealth Advisors LLC now owns 1,519 shares of the credit-card processor’s stock valued at $424,000 after purchasing an additional 37 shares during the last quarter. Alaethes Wealth LLC lifted its stake in Visa by 0.4% during the fourth quarter. Alaethes Wealth LLC now owns 8,843 shares of the credit-card processor’s stock valued at $2,302,000 after buying an additional 37 shares in the last quarter. Jessup Wealth Management Inc boosted its holdings in shares of Visa by 0.7% in the first quarter. Jessup Wealth Management Inc now owns 5,051 shares of the credit-card processor’s stock worth $1,410,000 after buying an additional 37 shares during the period. Cordatus Wealth Management LLC increased its position in shares of Visa by 0.3% in the first quarter. Cordatus Wealth Management LLC now owns 10,793 shares of the credit-card processor’s stock worth $3,012,000 after acquiring an additional 37 shares in the last quarter. Finally, Aurora Private Wealth Inc. increased its position in shares of Visa by 3.8% in the first quarter. Aurora Private Wealth Inc. now owns 1,036 shares of the credit-card processor’s stock worth $289,000 after acquiring an additional 38 shares in the last quarter. Institutional investors own 82.15% of the company’s stock.

Visa Company Profile

Visa Inc operates as a payment technology company in the United States and internationally. The company operates VisaNet, a transaction processing network that enables authorization, clearing, and settlement of payment transactions. It also offers credit, debit, and prepaid card products; tap to pay, tokenization, and click to pay services; Visa Direct, a solution that facilitates the delivery of funds to eligible cards, deposit accounts, and digital wallets; Visa B2B Connect, a multilateral business-to-business cross-border payments network; Visa Cross-Border Solution, a cross-border consumer payments solution; and Visa DPS that provides a range of value-added services, including fraud mitigation, dispute management, data analytics, campaign management, a suite of digital solutions, and contact center services.