Visa Inc. (NYSE:V – Get Free Report)’s stock price was up 1.6% on Thursday . The company traded as high as $273.59 and last traded at $273.52. Approximately 1,074,425 shares traded hands during trading, a decline of 85% from the average daily volume of 7,112,159 shares. The stock had previously closed at $269.19.
Wall Street Analyst Weigh In
A number of analysts have commented on V shares. StockNews.com upgraded shares of Visa from a “hold” rating to a “buy” rating in a research note on Friday, August 9th. William Blair upgraded Visa to a “strong-buy” rating in a report on Tuesday, July 23rd. Piper Sandler dropped their price objective on Visa from $322.00 to $319.00 and set an “overweight” rating on the stock in a research note on Wednesday, July 24th. JPMorgan Chase & Co. lifted their price objective on shares of Visa from $290.00 to $320.00 and gave the stock an “overweight” rating in a report on Tuesday, August 20th. Finally, Bank of America reissued a “neutral” rating and set a $297.00 price target (down from $305.00) on shares of Visa in a research report on Wednesday, July 10th. Six investment analysts have rated the stock with a hold rating, twenty-one have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $308.50.
Visa Trading Up 2.3 %
The company has a debt-to-equity ratio of 0.54, a quick ratio of 1.37 and a current ratio of 1.37. The firm has a market cap of $501.72 billion, a P/E ratio of 30.65, a P/E/G ratio of 1.89 and a beta of 0.95. The firm has a 50 day simple moving average of $265.81 and a 200 day simple moving average of $273.14.
Visa (NYSE:V – Get Free Report) last posted its earnings results on Tuesday, July 23rd. The credit-card processor reported $2.42 earnings per share for the quarter, hitting analysts’ consensus estimates of $2.42. Visa had a net margin of 54.72% and a return on equity of 51.94%. The business had revenue of $8.90 billion for the quarter, compared to analyst estimates of $8.92 billion. During the same quarter in the prior year, the firm posted $2.16 EPS. Visa’s revenue was up 9.6% on a year-over-year basis. On average, equities research analysts predict that Visa Inc. will post 9.91 EPS for the current fiscal year.
Visa Dividend Announcement
The firm also recently announced a quarterly dividend, which will be paid on Tuesday, September 3rd. Shareholders 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 dividend on an annualized basis and a yield of 0.76%. Visa’s dividend payout ratio is currently 23.24%.
Institutional Investors Weigh In On Visa
Hedge funds have recently bought and sold shares of the stock. Livelsberger Financial Advisory bought a new stake in shares of Visa in the 4th quarter worth approximately $25,000. Westend Capital Management LLC bought a new stake in Visa in the first quarter worth $25,000. POM Investment Strategies LLC boosted its position in Visa by 970.0% during the second quarter. POM Investment Strategies LLC now owns 107 shares of the credit-card processor’s stock valued at $28,000 after buying an additional 97 shares during the period. Frank Rimerman Advisors LLC bought a new position in shares of Visa during the fourth quarter valued at about $33,000. Finally, TruNorth Capital Management LLC increased its holdings in shares of Visa by 211.9% in the second quarter. TruNorth Capital Management LLC now owns 131 shares of the credit-card processor’s stock worth $34,000 after buying an additional 89 shares during the period. 82.15% of the stock is currently owned by institutional investors.
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.