Traders Buy Visa Inc. (V) on Weakness

Traders bought shares of Visa Inc. (NYSE:V) on weakness during trading hours on Friday. $428.88 million flowed into the stock on the tick-up and $293.58 million flowed out of the stock on the tick-down, for a money net flow of $135.30 million into the stock. Of all companies tracked, Visa had the 25th highest net in-flow for the day. Visa traded down ($0.78) for the day and closed at $105.30

Several research firms have recently commented on V. Wedbush reissued an “outperform” rating and issued a $100.00 price target (up from $96.00) on shares of Visa in a research report on Tuesday, June 6th. Loop Capital boosted their price target on Visa from $101.00 to $111.00 and gave the stock a “buy” rating in a research report on Friday, July 21st. They noted that the move was a valuation call. Deutsche Bank AG boosted their price target on Visa from $124.00 to $150.00 and gave the stock a “buy” rating in a research report on Monday, July 10th. Instinet boosted their price target on Visa from $105.00 to $120.00 and gave the stock a “buy” rating in a research report on Friday, July 21st. Finally, BidaskClub upgraded Visa from a “buy” rating to a “strong-buy” rating in a research note on Tuesday, July 25th. Four investment analysts have rated the stock with a hold rating, twenty-seven have issued a buy rating and one has given a strong buy rating to the company’s stock. The stock currently has an average rating of “Buy” and a consensus price target of $105.35.

The firm has a 50-day moving average price of $102.82 and a 200-day moving average price of $95.21. The firm has a market capitalization of $240.76 billion, a P/E ratio of 39.16 and a beta of 0.94.

Visa (NYSE:V) last announced its quarterly earnings data on Thursday, July 20th. The credit-card processor reported $0.86 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.81 by $0.05. Visa had a return on equity of 30.95% and a net margin of 36.53%. The company had revenue of $4.57 billion for the quarter, compared to analyst estimates of $4.36 billion. During the same quarter in the previous year, the company earned $0.69 EPS. The firm’s revenue for the quarter was up 25.8% compared to the same quarter last year. Equities analysts forecast that Visa Inc. will post $3.43 earnings per share for the current fiscal year.

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, September 5th. Shareholders of record on Friday, August 18th were issued a $0.165 dividend. This represents a $0.66 dividend on an annualized basis and a yield of 0.63%. The ex-dividend date was Wednesday, August 16th. Visa’s dividend payout ratio is presently 24.54%.

In other Visa news, Director Mary B. Cranston sold 10,400 shares of Visa stock in a transaction that occurred on Thursday, August 17th. The stock was sold at an average price of $103.32, for a total value of $1,074,528.00. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, EVP Tullier Kelly Mahon sold 29,772 shares of Visa stock in a transaction that occurred on Thursday, July 27th. The shares were sold at an average price of $100.91, for a total value of $3,004,292.52. Following the completion of the sale, the executive vice president now directly owns 17,360 shares in the company, valued at approximately $1,751,797.60. The disclosure for this sale can be found here. 0.14% of the stock is currently owned by insiders.

Large investors have recently made changes to their positions in the company. Wallington Asset Management LLC boosted its stake in shares of Visa by 3.8% during the 2nd quarter. Wallington Asset Management LLC now owns 57,779 shares of the credit-card processor’s stock worth $5,419,000 after acquiring an additional 2,090 shares in the last quarter. Carret Asset Management LLC boosted its stake in shares of Visa by 4.5% during the 1st quarter. Carret Asset Management LLC now owns 27,037 shares of the credit-card processor’s stock worth $2,403,000 after acquiring an additional 1,153 shares in the last quarter. DE Burlo Group Inc. boosted its stake in shares of Visa by 65.9% during the 1st quarter. DE Burlo Group Inc. now owns 145,000 shares of the credit-card processor’s stock worth $12,886,000 after acquiring an additional 57,600 shares in the last quarter. Cypress Asset Management Inc. TX boosted its stake in shares of Visa by 31.1% during the 2nd quarter. Cypress Asset Management Inc. TX now owns 14,720 shares of the credit-card processor’s stock worth $1,380,000 after acquiring an additional 3,495 shares in the last quarter. Finally, Achmea Investment Management B.V. purchased a new stake in shares of Visa during the 1st quarter worth approximately $7,938,000. 81.74% of the stock is currently owned by institutional investors and hedge funds.

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About Visa

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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