Ryan Mcinerney Sells 20,970 Shares of Visa (NYSE:V) Stock

Visa Inc. (NYSE:V - Get Free Report) CEO Ryan Mcinerney sold 20,970 shares of Visa stock in a transaction dated Monday, June 29th. The stock was sold at an average price of $340.25, for a total value of $7,135,042.50. Following the sale, the chief executive officer owned 15,174 shares of the company's stock, valued at approximately $5,162,953.50. This represents a 58.02% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

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Ryan Mcinerney also recently made the following trade(s):

• On Wednesday, April 29th, Ryan Mcinerney sold 31,455 shares of Visa stock. The shares were sold at an average price of $340.14, for a total transaction of $10,699,103.70.

Visa Price Performance

Visa stock opened at $342.63 on Wednesday. Visa Inc. has a 12-month low of $293.89 and a 12-month high of $359.66. The stock has a market capitalization of $614.60 billion, a P/E ratio of 29.85, a P/E/G ratio of 1.82 and a beta of 0.77. The firm's 50-day moving average is $324.40 and its two-hundred day moving average is $324.52. The company has a debt-to-equity ratio of 0.64, a current ratio of 1.09 and a quick ratio of 1.09.

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Visa (NYSE:V - Get Free Report) last posted its quarterly earnings data on Tuesday, April 28th. The credit-card processor reported $3.31 earnings per share for the quarter, beating analysts' consensus estimates of $3.10 by $0.21. The business had revenue of $11.23 billion during the quarter, compared to analyst estimates of $10.75 billion. Visa had a net margin of 51.68% and a return on equity of 65.00%. The company's revenue was up 17.1% on a year-over-year basis. During the same quarter in the previous year, the business posted $2.76 earnings per share. Equities analysts predict that Visa Inc. will post 13.09 earnings per share for the current year.

Visa Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, June 1st. Shareholders of record on Tuesday, May 12th were paid a $0.67 dividend. This represents a $2.68 annualized dividend and a yield of 0.8%. The ex-dividend date of this dividend was Tuesday, May 12th. Visa's payout ratio is presently 23.34%.

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Visa declared that its Board of Directors has authorized a stock buyback plan on Tuesday, April 28th that allows the company to repurchase $20.00 billion in shares. This repurchase authorization allows the credit-card processor to repurchase up to 3.6% of its stock through open market purchases. Stock repurchase plans are generally a sign that the company's board believes its stock is undervalued.

Institutional Investors Weigh In On Visa

Institutional investors have recently added to or reduced their stakes in the company. Norges Bank acquired a new stake in Visa during the 4th quarter worth approximately $5,877,738,000. Cardano Risk Management B.V. lifted its position in Visa by 867.6% during the fourth quarter. Cardano Risk Management B.V. now owns 8,213,610 shares of the credit-card processor's stock valued at $2,880,595,000 after buying an additional 7,364,762 shares in the last quarter. Diamant Asset Management Inc. grew its stake in Visa by 29,706.3% during the first quarter. Diamant Asset Management Inc. now owns 7,332,947 shares of the credit-card processor's stock worth $2,216,310,000 after buying an additional 7,308,345 shares during the period. J. Stern & Co. LLP grew its stake in Visa by 12,497.1% during the fourth quarter. J. Stern & Co. LLP now owns 3,378,039 shares of the credit-card processor's stock worth $1,184,712,000 after buying an additional 3,351,223 shares during the period. Finally, Victory Capital Management Inc. increased its position in shares of Visa by 48.2% in the fourth quarter. Victory Capital Management Inc. now owns 6,508,089 shares of the credit-card processor's stock worth $2,282,472,000 after acquiring an additional 2,116,463 shares in the last quarter. Hedge funds and other institutional investors own 82.15% of the company's stock.

Analysts Set New Price Targets

Several equities research analysts have recently issued reports on the company. Raymond James Financial restated an "outperform" rating and set a $389.00 price objective on shares of Visa in a report on Wednesday, April 29th. Loop Capital began coverage on Visa in a research note on Tuesday, March 31st. They issued a "buy" rating and a $387.00 target price for the company. Piper Sandler initiated coverage on Visa in a research report on Monday. They set an "overweight" rating and a $394.00 target price on the stock. Evercore set a $350.00 price target on Visa in a research note on Wednesday, April 29th. Finally, Oppenheimer restated an "outperform" rating and issued a $403.00 target price (up from $391.00) on shares of Visa in a report on Wednesday, April 29th. Six equities research analysts have rated the stock with a Strong Buy rating, eighteen have issued a Buy rating and two have issued a Hold rating to the company. According to MarketBeat, Visa currently has a consensus rating of "Buy" and an average target price of $397.96.

View Our Latest Stock Report on Visa

Visa News Summary

Here are the key news stories impacting Visa this week:

• Positive Sentiment: Visa is participating in the launch of the Open USD stablecoin initiative alongside major players like Stripe, Google, and BlackRock, a sign that the company is staying central to the next wave of digital payments and money movement. Visa and Google Sign on to Use Money Movement Stablecoin OpenUSD
• Positive Sentiment: Visa’s new travel platform expansion and cross-border partnership push could support transaction growth, especially as travel and experience spending remain strong. Visa redefines its role in travel with the global expansion of Visa Destinations
• Positive Sentiment: Visa said online deal hunting is helping consumers keep spending on discretionary purchases, which is encouraging for payment volume trends. Visa Says Online Deal Hunting Sustains Consumers' Discretionary Spending
• Neutral Sentiment: Visa also unveiled smartphone-based tools for small businesses to accept payments through Visa Pay, Visa Accept and Visa Direct, which supports its long-term growth story but is more incremental near term. Visa Brings Card Acceptance to SMB Smartphones
• Negative Sentiment: CEO Ryan McInerney sold 20,970 shares in a pre-arranged transaction, which can create a small amount of investor caution even though it was conducted under a 10b5-1 plan. SEC filing for CEO stock sale

Visa Company Profile

(Get Free Report)

Visa Inc is a global payments technology company that facilitates electronic funds transfers and digital commerce by connecting consumers, merchants, financial institutions and governments. The firm operates one of the world's largest payment networks, providing processing, authorization, clearing and settlement services for credit, debit and prepaid card transactions. Visa's network-based model enables partner banks and other issuers to offer branded payment products while Visa focuses on the infrastructure, standards and technologies that move money securely and efficiently around the world.

Visa's product and service portfolio includes card-based payment products for consumers and businesses, real-time push-payment capabilities, tokenization and authentication services, fraud and risk-management tools, data analytics and APIs for fintech and merchant integration.

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