Key Points
- Ryan Mcinerney, CEO of Visa, sold 10,485 shares of the company's stock on November 3rd for approximately $3.58 million, significantly decreasing their ownership by 95.13% to only 537 shares.
- Visa recently reported earnings per share of $2.98, surpassing analysts' expectations, and announced an increase in its quarterly dividend to $0.67, reflecting a boost from the previous $0.59 dividend.
- Visa has received several positive analyst ratings, with a consensus target price of $400.00 and multiple firms assigning "buy" or "strong buy" ratings to the stock.
Visa Inc. (NYSE:V - Get Free Report) CEO Ryan Mcinerney sold 10,485 shares of Visa stock in a transaction on Monday, November 3rd. The shares were sold at an average price of $341.00, for a total value of $3,575,385.00. Following the completion of the transaction, the chief executive officer owned 537 shares of the company's stock, valued at approximately $183,117. This trade represents a 95.13% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink.
Ryan Mcinerney also recently made the following trade(s):
- On Wednesday, October 1st, Ryan Mcinerney sold 10,485 shares of Visa stock. The shares were sold at an average price of $342.30, for a total value of $3,589,015.50.
Visa Trading Up 0.9%
NYSE:V opened at $340.00 on Wednesday. The firm has a market cap of $623.15 billion, a PE ratio of 33.30, a price-to-earnings-growth ratio of 2.01 and a beta of 0.87. The stock has a fifty day moving average price of $344.31 and a 200 day moving average price of $348.65. Visa Inc. has a 12-month low of $291.58 and a 12-month high of $375.51. The company has a current ratio of 1.08, a quick ratio of 1.12 and a debt-to-equity ratio of 0.53.
Visa (NYSE:V - Get Free Report) last released its earnings results on Tuesday, October 28th. The credit-card processor reported $2.98 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $2.97 by $0.01. The firm had revenue of $10.72 billion during the quarter, compared to analyst estimates of $10.60 billion. Visa had a return on equity of 60.31% and a net margin of 50.15%.Visa's revenue was up 11.5% compared to the same quarter last year. During the same period last year, the business posted $2.71 earnings per share. Sell-side analysts anticipate that Visa Inc. will post 11.3 earnings per share for the current fiscal year.
Visa Increases Dividend
The business also recently announced a quarterly dividend, which will be paid on Monday, December 1st. Investors of record on Wednesday, November 12th will be issued a $0.67 dividend. This represents a $2.68 dividend on an annualized basis and a yield of 0.8%. This is a boost from Visa's previous quarterly dividend of $0.59. The ex-dividend date is Wednesday, November 12th. Visa's dividend payout ratio (DPR) is 23.11%.
Analyst Ratings Changes
V has been the subject of a number of recent research reports. UBS Group set a $425.00 target price on Visa and gave the company a "buy" rating in a report on Wednesday, October 29th. Truist Financial decreased their price target on Visa from $400.00 to $397.00 and set a "buy" rating for the company in a report on Thursday, July 17th. Raymond James Financial reaffirmed an "outperform" rating and set a $408.00 price target (up from $398.00) on shares of Visa in a report on Wednesday, October 29th. KeyCorp reaffirmed an "overweight" rating and set a $405.00 price target on shares of Visa in a report on Wednesday, October 22nd. Finally, Citigroup raised Visa to a "strong-buy" rating in a report on Thursday, October 23rd. Four research analysts have rated the stock with a Strong Buy rating, seventeen have issued a Buy rating and five have given a Hold rating to the company. Based on data from MarketBeat.com, Visa has an average rating of "Moderate Buy" and a consensus target price of $400.00.
Read Our Latest Report on V
Institutional Trading of Visa
A number of large investors have recently made changes to their positions in the company. Yeomans Consulting Group Inc. boosted its position in shares of Visa by 2.9% in the 1st quarter. Yeomans Consulting Group Inc. now owns 1,027 shares of the credit-card processor's stock valued at $360,000 after purchasing an additional 29 shares during the period. Semus Wealth Partners LLC boosted its position in shares of Visa by 0.8% in the 1st quarter. Semus Wealth Partners LLC now owns 3,449 shares of the credit-card processor's stock valued at $1,209,000 after purchasing an additional 29 shares during the period. BankPlus Wealth Management LLC boosted its position in shares of Visa by 0.9% in the 2nd quarter. BankPlus Wealth Management LLC now owns 3,338 shares of the credit-card processor's stock valued at $1,185,000 after purchasing an additional 29 shares during the period. Transcendent Capital Group LLC boosted its position in shares of Visa by 2.9% in the 2nd quarter. Transcendent Capital Group LLC now owns 1,013 shares of the credit-card processor's stock valued at $360,000 after purchasing an additional 29 shares during the period. Finally, Insight Wealth Strategies LLC boosted its position in shares of Visa by 1.6% in the 3rd quarter. Insight Wealth Strategies LLC now owns 1,875 shares of the credit-card processor's stock valued at $640,000 after purchasing an additional 29 shares during the period. 82.15% of the stock is owned by institutional investors and hedge funds.
About Visa
(
Get Free Report)
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.
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