Visa (NYSE:V) Shares Down 0.2% – Should You Sell?

Visa Inc. (NYSE:V)’s stock price was down 0.2% during trading on Wednesday . The company traded as low as $307.84 and last traded at $309.33. Approximately 1,089,192 shares traded hands during trading, a decline of 84% from the average daily volume of 7,000,660 shares. The stock had previously closed at $309.85.

Wall Street Analysts Forecast Growth

A number of brokerages have recently weighed in on V. JPMorgan Chase & Co. lifted their price objective on Visa from $290.00 to $320.00 and gave the company an “overweight” rating in a research note on Tuesday, August 20th. Robert W. Baird lifted their target price on Visa from $330.00 to $340.00 and gave the company an “outperform” rating in a research report on Wednesday, October 30th. Mizuho increased their price target on shares of Visa from $279.00 to $292.00 and gave the stock a “neutral” rating in a research report on Friday, November 1st. Barclays lifted their price objective on shares of Visa from $319.00 to $347.00 and gave the company an “overweight” rating in a report on Monday, November 4th. Finally, Piper Sandler increased their target price on shares of Visa from $319.00 to $322.00 and gave the stock an “overweight” rating in a report on Wednesday, October 30th. Four equities research analysts have rated the stock with a hold rating, twenty-four have assigned a buy rating and two have assigned a strong buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $321.74.

Visa Trading Down 0.4 %

The business’s 50-day moving average price is $285.84 and its 200-day moving average price is $275.41. The firm has a market capitalization of $561.76 billion, a PE ratio of 31.68, a price-to-earnings-growth ratio of 2.07 and a beta of 0.95. The company has a debt-to-equity ratio of 0.55, a current ratio of 1.28 and a quick ratio of 1.37.

Visa (NYSE:V) last posted its quarterly earnings data on Tuesday, October 29th. The credit-card processor reported $2.71 EPS for the quarter, beating analysts’ consensus estimates of $2.58 by $0.13. Visa had a net margin of 54.96% and a return on equity of 53.16%. The company had revenue of $9.62 billion for the quarter, compared to analyst estimates of $9.49 billion. During the same period in the previous year, the business posted $2.33 earnings per share. Visa’s quarterly revenue was up 11.7% on a year-over-year basis. As a group, analysts expect that Visa Inc. will post 11.19 earnings per share for the current fiscal year.

Visa Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, December 2nd. Shareholders of record on Tuesday, November 12th will be paid a dividend of $0.59 per share. The ex-dividend date is Tuesday, November 12th. This is an increase from Visa’s previous quarterly dividend of $0.52. This represents a $2.36 annualized dividend and a yield of 0.77%. Visa’s dividend payout ratio is currently 24.25%.

Insider Activity

In related news, CEO Ryan Mcinerney sold 8,620 shares of the stock in a transaction dated Tuesday, September 3rd. The shares were 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 directly owns 538 shares of the company’s stock, valued at $148,687.06. This represents a 94.13 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this link. Corporate insiders own 0.19% of the company’s stock.

Hedge Funds Weigh In On Visa

Several institutional investors and hedge funds have recently added to or reduced their stakes in the business. Peterson Financial Group Inc. acquired a new position in shares of Visa during the 3rd quarter worth approximately $26,000. POM Investment Strategies LLC lifted its position in shares of Visa by 970.0% in the second quarter. POM Investment Strategies LLC now owns 107 shares of the credit-card processor’s stock valued at $28,000 after acquiring an additional 97 shares in the last quarter. Reston Wealth Management LLC acquired a new stake in shares of Visa during the third quarter valued at $31,000. TruNorth Capital Management LLC increased 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 purchasing an additional 89 shares in the last quarter. Finally, Bbjs Financial Advisors LLC acquired a new position in Visa in the 2nd quarter valued at about $35,000. Institutional investors and hedge funds own 82.15% of the company’s stock.

Visa Company Profile

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.