Visa (NYSE:V) General Counsel Julie Rottenberg Sells 1,867 Shares of Stock

Visa Inc. (NYSE:V) General Counsel Julie Rottenberg sold 1,867 shares of the business’s stock in a transaction that occurred on Monday, November 9th. The shares were sold at an average price of $423.00, for a total value of $789,741.00. Following the sale, the general counsel owned 18,404 shares in the company, valued at approximately $7,784,892. This represents a 9.21% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Visa Stock Performance

Shares of NYSE V opened at $422.95 on Wednesday. The firm has a market capitalization of $754.72 billion, a price-to-earnings ratio of 34.30, a PEG ratio of 1.80 and a beta of 0.80. Visa Inc. has a one year low of $293.89 and a one year high of $442.23. The business has a fifty day simple moving average of $387.55 and a 200 day simple moving average of $345.66. The company has a current ratio of 0.97, a quick ratio of 0.97 and a debt-to-equity ratio of 0.54.

Visa (NYSE:V) last posted its quarterly earnings results on Tuesday, October 27th. The credit-card processor reported $3.48 earnings per share for the quarter, topping analysts’ consensus estimates of $3.44 by $0.04. The firm had revenue of $12.14 billion for the quarter, compared to the consensus estimate of $12.09 billion. Visa had a net margin of 51.20% and a return on equity of 70.50%. The business’s revenue was up 13.2% compared to the same quarter last year. During the same quarter in the previous year, the company earned $2.98 earnings per share. Sell-side analysts expect that Visa Inc. will post 15.02 EPS for the current year.

Visa Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 1st. Stockholders of record on Tuesday, November 10th will be issued a dividend of $0.78 per share. This represents a $3.12 dividend on an annualized basis and a dividend yield of 0.7%. The ex-dividend date of this dividend is Tuesday, November 10th. This is a positive change from Visa’s previous quarterly dividend of $0.67. Visa’s payout ratio is 25.30%.

Analyst Ratings Changes

V has been the topic of several recent research reports. Barclays lifted their target price on shares of Visa from $420.00 to $440.00 and gave the company an “overweight” rating in a research report on Wednesday, October 28th. TD Cowen reissued a “buy” rating and issued a $450.00 price target (up from $420.00) on shares of Visa in a research report on Wednesday, October 28th. President Capital raised their price target on shares of Visa from $411.00 to $474.00 and gave the stock a “buy” rating in a research note on Monday, August 17th. Wolfe Research restated an “outperform” rating and set a $460.00 price target (up from $435.00) on shares of Visa in a research note on Tuesday, August 25th. Finally, Truist Financial lifted their price objective on Visa from $443.00 to $470.00 and gave the company a “buy” rating in a report on Thursday, November 5th. Two research analysts have rated the stock with a Strong Buy rating and thirty-five have issued a Buy rating to the stock. Based on data from MarketBeat.com, Visa has a consensus rating of “Buy” and a consensus price target of $442.29.

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of V. XXEC Inc. grew its holdings in shares of Visa by 153,118.8% in the 2nd quarter. XXEC Inc. now owns 186,260,448 shares of the credit-card processor’s stock worth $63,904,097,000 after purchasing an additional 186,138,883 shares during the last quarter. Jupiter Topco LLC acquired a new stake in shares of Visa during the 2nd quarter worth about $1,435,262,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its holdings in Visa by 13.0% during the 2nd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 15,720,068 shares of the credit-card processor’s stock valued at $5,393,398,000 after purchasing an additional 1,808,496 shares during the last quarter. Janus Henderson Group PLC lifted its holdings in Visa by 33.1% during the 1st quarter. Janus Henderson Group PLC now owns 4,486,927 shares of the credit-card processor’s stock valued at $1,356,090,000 after purchasing an additional 1,116,498 shares during the last quarter. Finally, Amundi lifted its holdings in Visa by 16.5% during the 2nd quarter. Amundi now owns 7,714,919 shares of the credit-card processor’s stock valued at $2,646,911,000 after purchasing an additional 1,092,315 shares during the last quarter. 82.15% of the stock is currently owned by institutional investors and hedge funds.

Key Visa News

Here are the key news stories impacting Visa this week:

• Positive Sentiment: Citigroup raised its price target to $490 from $440 and maintained a Buy rating, implying about 15.9% upside from the cited share price. Citigroup recommendations
• Positive Sentiment: Global Payments added Visa’s Intelligent Data Exchange API to its Adaptive Authentication platform. Sharing more transaction data with issuers is intended to reduce false declines and improve digital checkout, supporting the utility of Visa’s data tools. Global Payments expands authentication platform
• Neutral Sentiment: Visa General Counsel Julie Rottenberg sold 1,867 shares for about $790,000 under a pre-arranged Rule 10b5-1 plan. She retained 18,404 shares, which may temper concern about the sale as a signal of her outlook. SEC filing
• Negative Sentiment: A hotter-than-expected October CPI reading could renew inflation and interest-rate concerns, potentially pressuring richly valued growth-oriented stocks, including Visa. CPI and market drivers
• Negative Sentiment: Commentary on Visa’s long-term performance also flags fee-related lawsuits, stablecoin competition and a high valuation as risks that could challenge its record of outperforming the broader market. Visa’s IPO and long-term performance

About Visa

Visa Inc. operates a global payments network that connects consumers, merchants, financial institutions and governments. Its network supports the authorization, clearing and settlement of electronic payments, including transactions made in person and online. The company’s services include payment processing, fraud prevention, identity and risk management, and money-transfer solutions such as Visa Direct. Visa-branded credit, debit and prepaid cards are issued by participating financial institutions; Visa generally provides the network and related services rather than issuing cards or extending credit directly to consumers.