Visa (NYSE:V) Shares Up 2.5% – Time to Buy?

by · The Markets Daily

Shares of Visa Inc. (NYSE:V – Get Free Report) rose 2.5% during trading on Monday. The company traded as high as $370.17 and last traded at $369.6450. Approximately 4,514,577 shares were traded during mid-day trading, a decline of 41% from the average session volume of 7,612,737 shares. The stock had previously closed at $360.66.

Analyst Ratings Changes

V has been the subject of several recent analyst reports. Evercore raised their target price on Visa from $350.00 to $370.00 in a research note on Wednesday, July 29th. Truist Financial set a $406.00 price target on Visa and gave the stock a “buy” rating in a research note on Wednesday, August 5th. Daiwa Securities Group increased their price target on Visa from $375.00 to $422.00 and gave the company an “outperform” rating in a report on Thursday, August 6th. Morgan Stanley restated an “overweight” rating and set a $416.00 price objective (up from $415.00) on shares of Visa in a research note on Wednesday, July 29th. Finally, Piper Sandler restated an “overweight” rating and set a $430.00 price objective (up from $394.00) on shares of Visa in a report on Wednesday, July 29th. Three equities research analysts have rated the stock with a Strong Buy rating and thirty-four have given a Buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Buy” and an average price target of $425.21.

View Our Latest Research Report on V

Visa Price Performance

The company has a market cap of $659.61 billion, a P/E ratio of 31.43, a P/E/G ratio of 1.70 and a beta of 0.77. The company’s 50-day moving average price is $369.04 and its two-hundred day moving average price is $340.78. The company has a current ratio of 0.99, a quick ratio of 0.99 and a debt-to-equity ratio of 0.60.

Visa (NYSE:V – Get Free Report) last issued its quarterly earnings results on Tuesday, July 28th. The credit-card processor reported $3.32 EPS for the quarter, topping the consensus estimate of $3.23 by $0.09. The business 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 company’s quarterly revenue was up 14.4% compared to the same quarter last year. During the same quarter last year, the company posted $2.98 earnings per share. As a group, sell-side analysts expect that Visa Inc. will post 13.22 earnings per share for the current year.

Visa Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, September 1st. Shareholders of record on Tuesday, August 11th were issued a dividend of $0.67 per share. This represents a $2.68 dividend on an annualized basis and a yield of 0.7%. The ex-dividend date of this dividend was Tuesday, August 11th. Visa’s dividend payout ratio (DPR) is currently 22.79%.

Insider Buying and Selling

In related news, insider Tullier Mahon sold 57,272 shares of the business’s stock in a transaction dated Thursday, July 30th. The shares were sold at an average price of $364.97, for a total transaction of $20,902,561.84. Following the completion of the sale, the insider owned 49,662 shares of the company’s stock, valued at $18,125,140.14. This represents a 53.56% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, General Counsel Julie B. Rottenberg sold 2,028 shares of the stock in a transaction dated Monday, August 31st. The stock was sold at an average price of $381.35, for a total transaction of $773,377.80. Following the sale, the general counsel owned 18,404 shares in the company, valued at approximately $7,018,365.40. This trade represents a 9.93% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold 78,792 shares of company stock worth $28,863,319 over the last ninety days. 0.12% of the stock is owned by insiders.

Hedge Funds Weigh In On Visa

Institutional investors have recently made changes to their positions in the stock. Concorde Asset Management LLC increased its position in Visa by 4.0% in the second quarter. Concorde Asset Management LLC now owns 728 shares of the credit-card processor’s stock worth $250,000 after buying an additional 28 shares during the period. G&S Capital LLC lifted its position in Visa by 4.0% in the 2nd quarter. G&S Capital LLC now owns 761 shares of the credit-card processor’s stock valued at $261,000 after purchasing an additional 29 shares during the last quarter. Keating Financial Advisory Services Inc. boosted its stake in Visa by 0.9% during the 2nd quarter. Keating Financial Advisory Services Inc. now owns 3,189 shares of the credit-card processor’s stock valued at $1,094,000 after purchasing an additional 29 shares during the period. Riverview Capital Advisers LLC boosted its stake in Visa by 0.3% during the 2nd quarter. Riverview Capital Advisers LLC now owns 10,805 shares of the credit-card processor’s stock valued at $3,707,000 after purchasing an additional 29 shares during the period. Finally, NerdWallet Wealth Partners LLC grew its position in Visa by 4.5% in the 2nd quarter. NerdWallet Wealth Partners LLC now owns 695 shares of the credit-card processor’s stock worth $239,000 after purchasing an additional 30 shares during the last quarter. 82.15% of the stock is owned by institutional investors.

About Visa

(Get Free Report)

Visa Inc is a global payments technology company that operates one of the world’s largest electronic payments networks. Through its VisaNet platform, the company facilitates the authorization, clearing and settlement of payment transactions between consumers, merchants, financial institutions and governments.

Visa provides payment products and services for credit, debit, prepaid and commercial transactions. Its offerings also include digital payment capabilities, tokenization, fraud prevention, risk management and other value-added services designed to support secure electronic commerce and contactless payments.

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