Visa (NYSE:V) Stock Price Down 0.9%

Shares of Visa Inc. (NYSE:V) were down 0.9% during mid-day trading on Tuesday . The stock traded as low as $264.72 and last traded at $265.26. Approximately 1,257,088 shares were traded during trading, a decline of 82% from the average daily volume of 6,805,779 shares. The stock had previously closed at $267.71.

Wall Street Analysts Forecast Growth

V has been the subject of a number of analyst reports. Royal Bank of Canada lowered their target price on Visa from $315.00 to $311.00 and set an “outperform” rating for the company in a report on Wednesday. Jefferies Financial Group reduced their target price on shares of Visa from $325.00 to $300.00 and set a “buy” rating for the company in a report on Wednesday. Citigroup cut their price objective on shares of Visa from $321.00 to $319.00 and set a “buy” rating on the stock in a research report on Wednesday. Evercore ISI decreased their target price on shares of Visa from $335.00 to $330.00 and set an “outperform” rating for the company in a research report on Tuesday, June 25th. Finally, Macquarie reaffirmed an “outperform” rating and issued a $300.00 price target on shares of Visa in a report on Wednesday. Six analysts have rated the stock with a hold rating, twenty-one have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $304.77.

Visa Trading Down 0.2 %

The firm has a market cap of $464.08 billion, a PE ratio of 28.45, a price-to-earnings-growth ratio of 1.85 and a beta of 0.95. The company has a 50-day simple moving average of $270.97 and a 200 day simple moving average of $274.39. The company has a current ratio of 1.40, a quick ratio of 1.40 and a debt-to-equity ratio of 0.53.

Visa (NYSE:V) last released its quarterly earnings results on Tuesday, July 23rd. The credit-card processor reported $2.42 EPS for the quarter, meeting the consensus estimate of $2.42. The company had revenue of $8.90 billion for the quarter, compared to analyst estimates of $8.92 billion. Visa had a net margin of 54.72% and a return on equity of 52.04%. The firm’s revenue was up 9.6% on a year-over-year basis. During the same quarter last year, the business earned $2.16 earnings per share. As a group, sell-side analysts forecast that Visa Inc. will post 9.94 earnings per share for the current fiscal year.

Visa Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, September 3rd. Investors of record on Friday, August 9th will be paid a $0.52 dividend. The ex-dividend date of this dividend is Friday, August 9th. This represents a $2.08 annualized dividend and a dividend yield of 0.82%. Visa’s dividend payout ratio is presently 23.24%.

Insiders Place Their Bets

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

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in the company. Vanguard Group Inc. raised its position in shares of Visa by 0.6% in the first quarter. Vanguard Group Inc. now owns 142,202,830 shares of the credit-card processor’s stock valued at $39,685,966,000 after buying an additional 788,908 shares during the last quarter. Capital International Investors increased its holdings in shares of Visa by 2.7% in the first quarter. Capital International Investors now owns 23,570,391 shares of the credit-card processor’s stock valued at $6,578,025,000 after purchasing an additional 626,618 shares during the last quarter. Capital World Investors lifted its position in Visa by 5.4% during the first quarter. Capital World Investors now owns 18,863,796 shares of the credit-card processor’s stock worth $5,264,508,000 after buying an additional 968,008 shares in the last quarter. Norges Bank acquired a new position in Visa during the fourth quarter worth $3,895,015,000. Finally, Jennison Associates LLC grew its holdings in Visa by 0.7% in the 4th quarter. Jennison Associates LLC now owns 11,824,113 shares of the credit-card processor’s stock valued at $3,078,408,000 after buying an additional 85,123 shares in the last quarter. 82.15% of the stock is owned by institutional investors and hedge funds.

About Visa

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.