Visa (NYSE:V) Reaches New 52-Week High at $291.00

Shares of Visa Inc. (NYSE:V) reached a new 52-week high during trading on Tuesday . The stock traded as high as $291.00 and last traded at $291.00, with a volume of 3415 shares changing hands. The stock had previously closed at $290.48.

Analyst Upgrades and Downgrades

Several research firms recently commented on V. Piper Sandler reduced their target price on shares of Visa from $322.00 to $319.00 and set an “overweight” rating on the stock in a report on Wednesday, July 24th. Compass Point began coverage on shares of Visa in a report on Wednesday, September 4th. They set a “buy” rating and a $319.00 target price on the stock. Morgan Stanley reduced their target price on shares of Visa from $326.00 to $322.00 and set an “overweight” rating on the stock in a report on Wednesday, July 24th. Bank of America reaffirmed a “neutral” rating and set a $297.00 target price (down previously from $305.00) on shares of Visa in a report on Wednesday, July 10th. Finally, StockNews.com raised shares of Visa from a “hold” rating to a “buy” rating in a report on Friday, August 9th. Six research analysts have rated the stock with a hold rating, twenty-four have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, Visa presently has an average rating of “Moderate Buy” and an average price target of $309.81.

Visa Stock Performance

The company has a market capitalization of $534.58 billion, a PE ratio of 32.46, a PEG ratio of 2.01 and a beta of 0.96. The business’s 50-day moving average is $268.78 and its 200-day moving average is $273.21. 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 issued its quarterly earnings results on Tuesday, July 23rd. The credit-card processor reported $2.42 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $2.42. Visa had a net margin of 54.72% and a return on equity of 51.94%. The company had revenue of $8.90 billion during the quarter, compared to analysts’ expectations of $8.92 billion. During the same period last year, the company posted $2.16 EPS. Visa’s revenue was up 9.6% on a year-over-year basis. On average, research analysts anticipate that Visa Inc. will post 9.92 earnings per share for the current year.

Visa Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, September 3rd. Investors of record on Friday, August 9th were given a dividend of $0.52 per share. The ex-dividend date of this dividend was Friday, August 9th. This represents a $2.08 dividend on an annualized basis and a yield of 0.71%. Visa’s dividend payout ratio (DPR) is currently 23.24%.

Insider Activity at Visa

In other Visa news, CEO Ryan Mcinerney sold 8,620 shares of the firm’s stock in a transaction dated Tuesday, September 3rd. The shares were sold at an average price of $276.37, for a total transaction of $2,382,309.40. Following the completion of the sale, the chief executive officer now directly owns 538 shares in the company, valued at approximately $148,687.06. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 0.19% of the stock is currently owned by corporate insiders.

Institutional Trading of Visa

A number of institutional investors and hedge funds have recently bought and sold shares of the company. Livelsberger Financial Advisory bought a new stake in shares of Visa in the fourth quarter worth approximately $25,000. Westend Capital Management LLC purchased a new position in shares of Visa in the first quarter worth approximately $25,000. POM Investment Strategies LLC boosted 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 worth $28,000 after buying an additional 97 shares during the last quarter. Frank Rimerman Advisors LLC purchased a new position in shares of Visa in the fourth quarter worth approximately $33,000. Finally, TruNorth Capital Management LLC boosted its holdings in shares of Visa by 211.9% in the second quarter. TruNorth Capital Management LLC now owns 131 shares of the credit-card processor’s stock worth $34,000 after buying an additional 89 shares during the last quarter. 82.15% of the stock is currently owned by institutional investors.

Visa Company Profile

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.