Visa (NYSE:V) Stock Price Down 2.6%

Shares of Visa Inc. (NYSE:V) fell 2.6% during trading on Monday . The company traded as low as $259.13 and last traded at $259.59. 2,833,935 shares changed hands during mid-day trading, a decline of 59% from the average session volume of 6,880,696 shares. The stock had previously closed at $266.58.

Analyst Upgrades and Downgrades

V has been the topic of a number of recent research reports. TD Cowen lowered their target price on Visa from $320.00 to $318.00 and set a “buy” rating on the stock in a report on Wednesday, July 24th. Oppenheimer lifted their price objective on Visa from $297.00 to $299.00 and gave the stock an “outperform” rating in a research note on Wednesday, April 24th. Citigroup decreased their price objective on Visa from $321.00 to $319.00 and set a “buy” rating on the stock in a research report on Wednesday, July 24th. Jefferies Financial Group cut their price target on shares of Visa from $325.00 to $300.00 and set a “buy” rating on the stock in a report on Wednesday, July 24th. Finally, Morgan Stanley reduced their price target on shares of Visa from $326.00 to $322.00 and set an “overweight” rating on the stock in a research note on Wednesday, July 24th. Seven analysts have rated the stock with a hold rating, twenty have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, Visa currently has an average rating of “Moderate Buy” and a consensus target price of $307.25.

Visa Stock Performance

The firm’s 50 day simple moving average is $268.91 and its 200 day simple moving average is $274.36. The firm has a market capitalization of $467.61 billion, a price-to-earnings ratio of 28.73, a PEG ratio of 1.88 and a beta of 0.95. The company has a debt-to-equity ratio of 0.54, a quick ratio of 1.37 and a current ratio of 1.37.

Visa (NYSE:V) last released its quarterly earnings data on Tuesday, July 23rd. The credit-card processor reported $2.42 earnings per share for the quarter, meeting analysts’ consensus estimates of $2.42. The company had revenue of $8.90 billion during the quarter, compared to analysts’ expectations of $8.92 billion. Visa had a net margin of 54.72% and a return on equity of 51.94%. The firm’s revenue for the quarter was up 9.6% on a year-over-year basis. During the same quarter in the previous year, the company earned $2.16 earnings per share. Sell-side analysts forecast that Visa Inc. will post 9.91 earnings per share for the current fiscal year.

Visa Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, September 3rd. Investors of record on Friday, August 9th will be given a dividend of $0.52 per share. The ex-dividend date of this dividend is Friday, August 9th. This represents a $2.08 annualized dividend and a dividend yield of 0.81%. Visa’s dividend payout ratio (DPR) is presently 23.24%.

Insider Transactions at Visa

In related news, insider Paul D. Fabara sold 25,293 shares of Visa stock in a transaction that occurred on Wednesday, May 15th. The stock was sold at an average price of $277.15, for a total transaction of $7,009,954.95. Following the transaction, the insider now owns 17,894 shares in the company, valued at $4,959,322.10. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Corporate insiders own 0.19% of the company’s stock.

Hedge Funds Weigh In On Visa

Large investors have recently modified their holdings of the business. Westend Capital Management LLC acquired a new stake in shares of Visa in the first quarter valued at $25,000. Livelsberger Financial Advisory acquired a new position in shares of Visa in the 4th quarter valued at $25,000. POM Investment Strategies LLC raised its holdings in shares of Visa by 970.0% in the second quarter. POM Investment Strategies LLC now owns 107 shares of the credit-card processor’s stock valued at $28,000 after buying an additional 97 shares during the last quarter. O Brien Wealth Partners LLC acquired a new stake in Visa during the 4th quarter worth approximately $32,000. Finally, Frank Rimerman Advisors LLC acquired a new position in Visa in the 4th quarter valued at $33,000. Institutional investors and hedge funds own 82.15% of the company’s stock.

About Visa

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.