Visa (NYSE:V) Shares Down 0% – Here’s What Happened

Visa Inc. (NYSE:V) was down 0% during mid-day trading on Friday . The company traded as low as $275.53 and last traded at $277.45. Approximately 806,695 shares traded hands during trading, a decline of 89% from the average daily volume of 7,108,835 shares. The stock had previously closed at $277.47.

Analyst Upgrades and Downgrades

A number of research analysts have issued reports on V shares. Jefferies Financial Group cut their price objective on Visa from $325.00 to $300.00 and set a “buy” rating for the company in a report on Wednesday, July 24th. Piper Sandler cut their price objective on Visa from $322.00 to $319.00 and set an “overweight” rating for the company in a report on Wednesday, July 24th. BMO Capital Markets lifted their price objective on Visa from $300.00 to $310.00 and gave the company an “outperform” rating in a report on Thursday, October 3rd. William Blair raised Visa to a “strong-buy” rating in a report on Tuesday, July 23rd. Finally, Evercore ISI cut their price target on Visa from $335.00 to $330.00 and set an “outperform” rating for the company in a report on Tuesday, June 25th. Five analysts have rated the stock with a hold rating, twenty-three have assigned a buy rating and two have assigned a strong buy rating to the stock. According to data from MarketBeat, Visa presently has a consensus rating of “Moderate Buy” and a consensus target price of $312.04.

Visa Price Performance

The company has a market capitalization of $508.15 billion, a price-to-earnings ratio of 31.04, a price-to-earnings-growth ratio of 1.92 and a beta of 0.96. The company has a 50-day moving average price of $274.16 and a 200-day moving average price of $272.66. The company has a debt-to-equity ratio of 0.54, a quick ratio of 1.37 and a current ratio of 1.37.

Visa (NYSE:V) last posted its earnings results on Tuesday, July 23rd. The credit-card processor reported $2.42 earnings per share (EPS) for the quarter, hitting the consensus estimate of $2.42. The company had revenue of $8.90 billion during the quarter, compared to analyst estimates of $8.92 billion. Visa had a return on equity of 51.94% and a net margin of 54.72%. The company’s revenue for the quarter was up 9.6% compared to the same quarter last year. During the same period in the previous year, the company earned $2.16 EPS. On average, equities research analysts expect that Visa Inc. will post 9.92 EPS for the current fiscal year.

Visa Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, September 3rd. Investors of record on Friday, August 9th were given a $0.52 dividend. The ex-dividend date was Friday, August 9th. This represents a $2.08 annualized dividend and a dividend yield of 0.75%. Visa’s dividend payout ratio is presently 23.24%.

Insider Activity at Visa

In related news, CEO Ryan Mcinerney sold 8,620 shares of the business’s stock in a transaction that occurred on Tuesday, September 3rd. The stock was sold at an average price of $276.37, for a total value of $2,382,309.40. Following the completion of the transaction, the chief executive officer now directly owns 538 shares in the company, valued at approximately $148,687.06. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.19% of the stock is owned by insiders.

Hedge Funds Weigh In On Visa

Institutional investors and hedge funds have recently modified their holdings of the business. Livelsberger Financial Advisory acquired a new position in Visa during the 4th quarter worth approximately $25,000. Westend Capital Management LLC acquired a new position in Visa during the 1st quarter worth approximately $25,000. POM Investment Strategies LLC boosted its position in Visa by 970.0% during the 2nd quarter. POM Investment Strategies LLC now owns 107 shares of the credit-card processor’s stock worth $28,000 after acquiring an additional 97 shares during the last quarter. TruNorth Capital Management LLC boosted its position in Visa by 211.9% during the 2nd quarter. TruNorth Capital Management LLC now owns 131 shares of the credit-card processor’s stock worth $34,000 after acquiring an additional 89 shares during the last quarter. Finally, Bbjs Financial Advisors LLC acquired a new position in Visa during the 2nd quarter worth approximately $35,000. 82.15% of the stock is currently 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.