Traders sold shares of Visa Inc. (NYSE:V) on strength during trading on Wednesday. $230.03 million flowed into the stock on the tick-up and $262.82 million flowed out of the stock on the tick-down, for a money net flow of $32.79 million out of the stock. Of all equities tracked, Visa had the 0th highest net out-flow for the day. Visa traded up $1.08 for the day and closed at $109.49
Several equities research analysts have recently issued reports on V shares. Deutsche Bank AG raised their target price on Visa from $124.00 to $150.00 and gave the company a “buy” rating in a research report on Monday, July 10th. UBS AG reaffirmed an “overweight” rating on shares of Visa in a research report on Thursday, August 24th. BidaskClub raised Visa from a “buy” rating to a “strong-buy” rating in a research report on Tuesday, July 25th. Wells Fargo & Company raised Visa from a “market perform” rating to an “outperform” rating and raised their target price for the company from $107.01 to $120.00 in a research report on Tuesday, October 10th. Finally, Cantor Fitzgerald reaffirmed a “buy” rating and set a $120.00 target price on shares of Visa in a research report on Wednesday. Three research analysts have rated the stock with a hold rating, twenty-nine have given a buy rating and one has issued a strong buy rating to the stock. The company has an average rating of “Buy” and an average price target of $115.95.
The firm’s 50-day moving average price is $106.11 and its 200 day moving average price is $98.73. The stock has a market cap of $249.65 billion, a P/E ratio of 40.61 and a beta of 0.93.
Visa (NYSE:V) last announced its quarterly earnings results on Wednesday, October 25th. The credit-card processor reported $0.90 EPS for the quarter, beating analysts’ consensus estimates of $0.85 by $0.05. Visa had a return on equity of 31.80% and a net margin of 36.49%. The company had revenue of $4.86 billion during the quarter, compared to analyst estimates of $4.63 billion. During the same period in the prior year, the company earned $0.78 earnings per share. The firm’s revenue was up 13.9% on a year-over-year basis. Equities analysts anticipate that Visa Inc. will post $3.43 earnings per share for the current year.
The company also recently declared a quarterly dividend, which will be paid on Tuesday, December 5th. Investors of record on Friday, November 17th will be paid a dividend of $0.195 per share. The ex-dividend date is Thursday, November 16th. This is a positive change from Visa’s previous quarterly dividend of $0.17. This represents a $0.78 dividend on an annualized basis and a yield of 0.71%. Visa’s dividend payout ratio is presently 23.57%.
In related news, Director Mary B. Cranston sold 10,400 shares of the stock in a transaction that occurred on Thursday, August 17th. The stock was sold at an average price of $103.32, for a total transaction of $1,074,528.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. 0.14% of the stock is currently owned by corporate insiders.
A number of institutional investors have recently made changes to their positions in the stock. Crossmark Global Holdings Inc. bought a new position in Visa during the third quarter valued at approximately $22,263,000. Sumitomo Mitsui Asset Management Company LTD boosted its stake in Visa by 0.7% during the third quarter. Sumitomo Mitsui Asset Management Company LTD now owns 632,503 shares of the credit-card processor’s stock valued at $66,564,000 after buying an additional 4,517 shares during the last quarter. Integrated Investment Consultants LLC boosted its stake in Visa by 30.4% during the third quarter. Integrated Investment Consultants LLC now owns 3,860 shares of the credit-card processor’s stock valued at $406,000 after buying an additional 899 shares during the last quarter. Lyell Wealth Management LP boosted its stake in Visa by 71.4% during the third quarter. Lyell Wealth Management LP now owns 21,697 shares of the credit-card processor’s stock valued at $2,283,000 after buying an additional 9,035 shares during the last quarter. Finally, Parsons Capital Management Inc. RI boosted its stake in Visa by 4.0% during the third quarter. Parsons Capital Management Inc. RI now owns 24,926 shares of the credit-card processor’s stock valued at $2,623,000 after buying an additional 950 shares during the last quarter. 81.69% of the stock is owned by institutional investors.
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Visa Inc (Visa) is a payments technology company that connects consumers, merchants, financial institutions, businesses, strategic partners and government entities to electronic payments. The Company operates through payment services segment. The Company enables global commerce through the transfer of value and information among the participants.
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