Visa (NYSE:V) Stock Price Down 1.2% – Here’s What Happened

Shares of Visa Inc. (NYSE:V) fell 1.2% during trading on Thursday. The stock traded as low as $420.02 and last traded at $420.2560. Approximately 5,633,019 shares were traded during trading, a decline of 25% from the average session volume of 7,510,087 shares. The stock had previously closed at $425.55.

Key Headlines Impacting Visa

Investors following V have been watching these headlines:

• Positive Sentiment: Visa is expanding stablecoin settlement with Anchorage Digital, allowing eligible partners to use Western Union’s USDPT token to settle obligations on VisaNet. The move broadens Visa’s settlement capabilities and supports its push into blockchain-based payments. Read More.
• Positive Sentiment: Visa and Octopus are expanding QR payment acceptance in Hong Kong, letting visitors pay at participating Octopus QR merchants using Visa-powered payments. This could make Visa more convenient for tourists and broaden its payment reach. Read More.
• Negative Sentiment: A hot October CPI reading may revive inflation and interest-rate concerns, creating a potential headwind for the broader market and for Visa’s relatively high valuation. Read More.

Analysts Set New Price Targets

A number of research analysts have weighed in on the stock. Wells Fargo & Company upped their price objective on shares of Visa from $432.00 to $463.00 and gave the stock an “overweight” rating in a research report on Thursday, October 29th. Morgan Stanley restated an “overweight” rating and set a $471.00 target price (up from $416.00) on shares of Visa in a research report on Wednesday, October 28th. Rothschild & Co Redburn lifted their price target on Visa from $430.00 to $444.00 and gave the company a “buy” rating in a research note on Thursday, July 30th. Raymond James Financial reaffirmed an “outperform” rating and issued a $445.00 price target on shares of Visa in a report on Wednesday, October 28th. Finally, Daiwa Securities Group upped their price target on Visa from $375.00 to $422.00 and gave the stock an “outperform” rating in a report on Thursday, August 6th. Two investment analysts have rated the stock with a Strong Buy rating and thirty-five have given a Buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Buy” and a consensus price target of $443.35.

Visa Trading Down 1.2%

The company’s 50-day moving average price is $388.61 and its 200-day moving average price is $346.16. The firm has a market cap of $749.92 billion, a price-to-earnings ratio of 34.08, a price-to-earnings-growth ratio of 1.80 and a beta of 0.80. The company has a quick ratio of 0.97, a current ratio of 0.97 and a debt-to-equity ratio of 0.54.

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

Visa Increases Dividend

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

Insider Buying and Selling at Visa

In other Visa news, General Counsel Julie Rottenberg sold 1,867 shares of Visa stock in a transaction on Monday, November 9th. The shares were sold at an average price of $423.00, for a total transaction of $789,741.00. Following the sale, the general counsel owned 18,404 shares of the company’s stock, valued at $7,784,892. The trade was a 9.21% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Ryan Mcinerney sold 5,875 shares of the company’s stock in a transaction on Monday, November 2nd. The stock was sold at an average price of $416.22, for a total transaction of $2,445,292.50. Following the sale, the chief executive officer directly owned 15,174 shares of the company’s stock, valued at $6,315,722.28. The trade was a 27.91% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last ninety days, insiders have sold 29,262 shares of company stock worth $11,195,791. 0.12% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Visa

Institutional investors and hedge funds have recently bought and sold shares of the business. John Boyer Inc. acquired a new stake in shares of Visa in the third quarter valued at $27,000. Philadelphia Investment Partners LLC acquired a new position in Visa during the 2nd quarter worth about $29,000. Virtus Advisers LLC acquired a new position in Visa during the 2nd quarter worth about $33,000. Robinswood Financial LLC purchased a new position in Visa during the 1st quarter valued at about $35,000. Finally, Portfolio Resources Advisor Group Inc. purchased a new position in Visa during the 3rd quarter valued at about $35,000. 82.15% of the stock is currently owned by institutional investors and hedge funds.

Visa Company Profile

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.