Ryan Mcinerney Sells 10,485 Shares of Visa (NYSE:V) Stock

Visa Inc. (NYSE:V) CEO Ryan Mcinerney sold 10,485 shares of the business’s stock in a transaction on Wednesday, October 1st. The stock was sold at an average price of $342.30, for a total transaction of $3,589,015.50. Following the completion of the sale, the chief executive officer directly owned 537 shares of the company’s stock, valued at $183,815.10. This represents a 95.13% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website.

Visa Stock Performance

Visa stock opened at $349.90 on Friday. The company has a quick ratio of 1.12, a current ratio of 1.12 and a debt-to-equity ratio of 0.52. The company has a market capitalization of $641.28 billion, a PE ratio of 34.17, a P/E/G ratio of 2.07 and a beta of 0.90. The firm has a fifty day simple moving average of $343.78 and a two-hundred day simple moving average of $346.75. Visa Inc. has a twelve month low of $273.24 and a twelve month high of $375.51.

Visa (NYSE:V) last issued its quarterly earnings data on Tuesday, July 29th. The credit-card processor reported $2.98 EPS for the quarter, beating the consensus estimate of $2.85 by $0.13. The firm had revenue of $10.17 billion during the quarter, compared to the consensus estimate of $9.82 billion. Visa had a net margin of 52.16% and a return on equity of 58.93%. The company’s quarterly revenue was up 14.3% compared to the same quarter last year. During the same period in the prior year, the firm posted $2.42 earnings per share. Research analysts expect that Visa Inc. will post 11.3 EPS for the current year.

Visa Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, September 2nd. Stockholders of record on Tuesday, August 12th were paid a dividend of $0.59 per share. This represents a $2.36 annualized dividend and a dividend yield of 0.7%. The ex-dividend date of this dividend was Tuesday, August 12th. Visa’s dividend payout ratio is 23.05%.

Hedge Funds Weigh In On Visa

A number of institutional investors and hedge funds have recently made changes to their positions in V. Brighton Jones LLC increased its stake in shares of Visa by 50.1% during the fourth quarter. Brighton Jones LLC now owns 20,635 shares of the credit-card processor’s stock valued at $6,522,000 after purchasing an additional 6,883 shares in the last quarter. Revolve Wealth Partners LLC increased its stake in shares of Visa by 68.9% during the fourth quarter. Revolve Wealth Partners LLC now owns 11,811 shares of the credit-card processor’s stock valued at $3,733,000 after purchasing an additional 4,817 shares in the last quarter. Apella Capital LLC increased its stake in shares of Visa by 67.7% during the first quarter. Apella Capital LLC now owns 2,989 shares of the credit-card processor’s stock valued at $994,000 after purchasing an additional 1,207 shares in the last quarter. Amplius Wealth Advisors LLC increased its stake in shares of Visa by 4.4% during the first quarter. Amplius Wealth Advisors LLC now owns 2,307 shares of the credit-card processor’s stock valued at $809,000 after purchasing an additional 98 shares in the last quarter. Finally, Greenfield Savings Bank increased its stake in shares of Visa by 2.3% during the first quarter. Greenfield Savings Bank now owns 5,468 shares of the credit-card processor’s stock valued at $1,916,000 after purchasing an additional 124 shares in the last quarter. Institutional investors own 82.15% of the company’s stock.

Analyst Ratings Changes

Several brokerages have recently commented on V. Oppenheimer upped their price objective on shares of Visa from $390.00 to $391.00 and gave the company an “outperform” rating in a research note on Wednesday, July 2nd. Erste Group Bank downgraded shares of Visa from a “buy” rating to a “hold” rating in a research note on Monday, September 22nd. UBS Group reaffirmed a “buy” rating and set a $415.00 price objective (up from $405.00) on shares of Visa in a research note on Wednesday, July 30th. Deutsche Bank Aktiengesellschaft assumed coverage on shares of Visa in a research note on Thursday, July 17th. They set a “buy” rating and a $410.00 price objective for the company. Finally, Truist Financial decreased their price target on shares of Visa from $400.00 to $397.00 and set a “buy” rating for the company in a research note on Thursday, July 17th. One investment analyst has rated the stock with a Strong Buy rating, twenty-one have assigned a Buy rating and five have given a Hold rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $385.96.

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.