Visa Inc. (NYSE:V – Get Free Report)’s share price reached a new 52-week high during trading on Wednesday . The company traded as high as $309.00 and last traded at $306.54, with a volume of 898160 shares. The stock had previously closed at $293.29.
Analysts Set New Price Targets
V has been the topic of a number of research reports. Deutsche Bank Aktiengesellschaft raised their price objective on Visa from $300.00 to $340.00 and gave the company a “buy” rating in a report on Wednesday, October 30th. Citigroup boosted their price objective on shares of Visa from $319.00 to $326.00 and gave the company a “buy” rating in a report on Wednesday, October 30th. StockNews.com raised shares of Visa from a “hold” rating to a “buy” rating in a research report on Friday, August 9th. TD Cowen lifted their target price on Visa from $318.00 to $325.00 and gave the company a “buy” rating in a research report on Wednesday, October 30th. Finally, Macquarie increased their price objective on Visa from $300.00 to $335.00 and gave the company an “outperform” rating in a research note on Wednesday, October 30th. Four investment analysts have rated the stock with a hold rating, twenty-four have issued a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat.com, Visa currently has a consensus rating of “Moderate Buy” and a consensus price target of $321.74.
Visa Stock Performance
The company’s 50-day moving average is $281.92 and its two-hundred day moving average is $273.97. The company has a market capitalization of $560.18 billion, a P/E ratio of 31.31, a PEG ratio of 1.96 and a beta of 0.95. The company has a quick ratio of 1.37, a current ratio of 1.28 and a debt-to-equity ratio of 0.55.
Visa (NYSE:V – Get Free Report) last issued its earnings results on Tuesday, October 29th. The credit-card processor reported $2.71 earnings per share for the quarter, beating the consensus estimate of $2.58 by $0.13. The company had revenue of $9.62 billion during the quarter, compared to analysts’ expectations of $9.49 billion. Visa had a return on equity of 53.16% and a net margin of 54.96%. Visa’s quarterly revenue was up 11.7% compared to the same quarter last year. During the same period in the prior year, the business posted $2.33 EPS. Equities analysts anticipate that Visa Inc. will post 11.18 earnings per share for the current fiscal year.
Visa Increases Dividend
The company also recently declared a quarterly dividend, which will be paid on Monday, December 2nd. Investors of record on Tuesday, November 12th will be given a dividend of $0.59 per share. The ex-dividend date is Tuesday, November 12th. This is a positive change from Visa’s previous quarterly dividend of $0.52. This represents a $2.36 annualized dividend and a dividend yield of 0.77%. Visa’s payout ratio is currently 21.38%.
Insider Transactions at Visa
In related news, CEO Ryan Mcinerney sold 8,620 shares of the firm’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 transaction of $2,382,309.40. Following the completion of the transaction, the chief executive officer now owns 538 shares of the company’s stock, valued at $148,687.06. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders own 0.19% of the company’s stock.
Institutional Trading of Visa
Several large investors have recently added to or reduced their stakes in V. Mizuho Markets Americas LLC purchased a new position in Visa during the third quarter valued at $1,315,000. Koa Wealth Management LLC raised its holdings in shares of Visa by 2.1% during the 3rd quarter. Koa Wealth Management LLC now owns 11,628 shares of the credit-card processor’s stock worth $3,197,000 after acquiring an additional 238 shares in the last quarter. Ipswich Investment Management Co. Inc. grew its holdings in shares of Visa by 1.5% in the third quarter. Ipswich Investment Management Co. Inc. now owns 27,003 shares of the credit-card processor’s stock valued at $7,425,000 after purchasing an additional 400 shares in the last quarter. Northcape Wealth Management LLC raised its stake in Visa by 0.4% during the third quarter. Northcape Wealth Management LLC now owns 14,557 shares of the credit-card processor’s stock valued at $4,002,000 after purchasing an additional 64 shares in the last quarter. Finally, First Long Island Investors LLC lifted its position in Visa by 1.4% during the third quarter. First Long Island Investors LLC now owns 109,340 shares of the credit-card processor’s stock valued at $30,063,000 after purchasing an additional 1,545 shares during the last quarter. 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.