Visa (NYSE:V) Trading Down 0.1%

Visa Inc. (NYSE:V) shares dropped 0.1% during trading on Friday . The stock traded as low as $265.39 and last traded at $266.49. Approximately 783,017 shares changed hands during trading, a decline of 89% from the average daily volume of 7,200,469 shares. The stock had previously closed at $266.80.

Analyst Ratings Changes

Several research analysts recently commented on the company. TD Cowen reduced their price objective on Visa from $320.00 to $318.00 and set a “buy” rating for the company in a research note on Wednesday, July 24th. Macquarie reaffirmed an “outperform” rating and set a $300.00 price objective on shares of Visa in a research note on Wednesday, July 24th. Piper Sandler cut their price target on Visa from $322.00 to $319.00 and set an “overweight” rating for the company in a report on Wednesday, July 24th. Evercore ISI lowered their price objective on Visa from $335.00 to $330.00 and set an “outperform” rating on the stock in a research note on Tuesday, June 25th. Finally, Jefferies Financial Group dropped their target price on Visa from $325.00 to $300.00 and set a “buy” rating for the company in a report on Wednesday, July 24th. Six 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 stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $307.25.

Visa Stock Performance

The firm has a market capitalization of $488.40 billion, a price-to-earnings ratio of 29.78, a PEG ratio of 1.84 and a beta of 0.95. The firm has a 50 day moving average price of $266.63 and a 200-day moving average price of $273.64. The company has a debt-to-equity ratio of 0.54, a current ratio of 1.37 and a quick ratio of 1.37.

Visa (NYSE:V) last posted its quarterly earnings results on Tuesday, July 23rd. The credit-card processor reported $2.42 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $2.42. Visa had a return on equity of 51.94% and a net margin of 54.72%. The company had revenue of $8.90 billion for the quarter, compared to analyst estimates of $8.92 billion. During the same quarter last year, the company earned $2.16 EPS. Visa’s revenue for the quarter was up 9.6% compared to the same quarter last year. As a group, sell-side analysts expect that Visa Inc. will post 9.91 earnings per share for the current fiscal year.

Visa Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Tuesday, September 3rd. Shareholders of record on Friday, August 9th will be issued a dividend of $0.52 per share. This represents a $2.08 annualized dividend and a yield of 0.78%. The ex-dividend date is Friday, August 9th. Visa’s dividend payout ratio (DPR) is presently 23.24%.

Institutional Investors Weigh In On Visa

Several institutional investors have recently modified their holdings of V. Alaethes Wealth LLC boosted its stake in Visa by 0.4% in the 4th quarter. Alaethes Wealth LLC now owns 8,843 shares of the credit-card processor’s stock worth $2,302,000 after purchasing an additional 37 shares during the period. Jessup Wealth Management Inc lifted its holdings in shares of Visa by 0.7% in the first quarter. Jessup Wealth Management Inc now owns 5,051 shares of the credit-card processor’s stock valued at $1,410,000 after purchasing an additional 37 shares in the last quarter. Long Run Wealth Advisors LLC boosted its position in shares of Visa by 2.5% in the first quarter. Long Run Wealth Advisors LLC now owns 1,519 shares of the credit-card processor’s stock worth $424,000 after buying an additional 37 shares during the period. Cordatus Wealth Management LLC grew its holdings in shares of Visa by 0.3% during the first quarter. Cordatus Wealth Management LLC now owns 10,793 shares of the credit-card processor’s stock valued at $3,012,000 after buying an additional 37 shares in the last quarter. Finally, Garden State Investment Advisory Services LLC grew its holdings in shares of Visa by 1.8% during the fourth quarter. Garden State Investment Advisory Services LLC now owns 2,191 shares of the credit-card processor’s stock valued at $571,000 after buying an additional 38 shares in the last quarter. 82.15% of the stock is owned by hedge funds and other 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.