Key Points
- Visa General Counsel Julie Rottenberg sold 2,027 shares on July 2 at an average price of $360, for proceeds of about $729,720. The sale was made under a pre-arranged Rule 10b5-1 trading plan.
- After the transaction, Rottenberg still owned 18,404 Visa shares, and her stake fell by 9.92%. The disclosure was filed with the SEC.
- Visa shares were recently trading near $357.22, close to their 12-month high, while analysts remain broadly bullish with a consensus Buy rating and a price target around $397.39.
Visa Inc. (NYSE:V - Get Free Report) General Counsel Julie Rottenberg sold 2,027 shares of the business's stock in a transaction that occurred on Thursday, July 2nd. The stock was sold at an average price of $360.00, for a total value of $729,720.00. Following the completion of the transaction, the general counsel directly owned 18,404 shares in the company, valued at $6,625,440. The trade was a 9.92% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.
Visa Stock Performance
Visa stock opened at $357.22 on Tuesday. The stock has a 50-day simple moving average of $327.17 and a 200 day simple moving average of $324.74. The stock has a market capitalization of $640.77 billion, a price-to-earnings ratio of 31.12, a P/E/G ratio of 1.93 and a beta of 0.75. The company has a quick ratio of 1.09, a current ratio of 1.09 and a debt-to-equity ratio of 0.64. Visa Inc. has a 12-month low of $293.89 and a 12-month high of $365.02.
Visa (NYSE:V - Get Free Report) last announced its quarterly earnings data on Tuesday, April 28th. The credit-card processor reported $3.31 EPS for the quarter, beating analysts' consensus estimates of $3.10 by $0.21. The firm had revenue of $11.23 billion for the quarter, compared to analyst estimates of $10.75 billion. Visa had a return on equity of 65.00% and a net margin of 51.68%.The business's quarterly revenue was up 17.1% compared to the same quarter last year. During the same period last year, the company earned $2.76 EPS. On average, research analysts anticipate that Visa Inc. will post 13.1 earnings per share for the current fiscal year.
Visa announced that its Board of Directors has authorized a stock buyback program on Tuesday, April 28th that permits the company to buyback $20.00 billion in shares. This buyback authorization permits the credit-card processor to repurchase up to 3.6% of its shares through open market purchases. Shares buyback programs are often a sign that the company's management believes its stock is undervalued.
Visa Announces Dividend
The company also recently disclosed a quarterly dividend, which was paid on Monday, June 1st. Investors of record on Tuesday, May 12th were given a $0.67 dividend. This represents a $2.68 dividend on an annualized basis and a yield of 0.8%. The ex-dividend date was Tuesday, May 12th. Visa's dividend payout ratio (DPR) is presently 23.34%.
Visa News Summary
Here are the key news stories impacting Visa this week:
Institutional Inflows and Outflows
A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. Norges Bank bought a new position in shares of Visa during the 4th quarter valued at about $5,877,738,000. Cardano Risk Management B.V. increased its stake in Visa by 867.6% during the 4th quarter. Cardano Risk Management B.V. now owns 8,213,610 shares of the credit-card processor's stock worth $2,880,595,000 after purchasing an additional 7,364,762 shares in the last quarter. Diamant Asset Management Inc. raised its holdings in Visa by 29,706.3% during the 1st 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 raised its holdings in Visa by 12,497.1% during the 4th 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. lifted its stake in 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 valued at $2,282,472,000 after buying an additional 2,116,463 shares in the last quarter. 82.15% of the stock is owned by institutional investors and hedge funds.
Analysts Set New Price Targets
V has been the subject of several analyst reports. Oppenheimer reiterated an "outperform" rating and set a $403.00 price target (up from $391.00) on shares of Visa in a research report on Wednesday, April 29th. Sanford C. Bernstein reaffirmed an "outperform" rating and issued a $450.00 price objective on shares of Visa in a research note on Tuesday, June 2nd. Loop Capital assumed coverage on shares of Visa in a research note on Tuesday, March 31st. They issued a "buy" rating and a $387.00 price objective on the stock. Truist Financial set a $371.00 target price on shares of Visa and gave the stock a "buy" rating in a report on Tuesday, May 12th. Finally, Piper Sandler began coverage on shares of Visa in a research report on Monday, June 29th. They set an "overweight" rating and a $394.00 target price for the company. Six 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 data from MarketBeat, the stock has a consensus rating of "Buy" and a consensus price target of $397.39.
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About Visa
(
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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