Insider Selling: Visa Inc. (V) President Sells $1,534,020.00 in Stock
Visa Inc. (NYSE:V) President Ryan Mcinerney sold 18,500 shares of Visa stock in a transaction dated Tuesday, November 8th. The shares were sold at an average price of $82.92, for a total value of $1,534,020.00. Following the completion of the transaction, the president now directly owns 12,548 shares of the company’s stock, valued at $1,040,480.16. The transaction was disclosed in a legal filing with the SEC, which is available through this link.
Shares of Visa Inc. (NYSE:V) opened at 81.88 on Monday. The stock has a 50 day moving average price of $82.27 and a 200-day moving average price of $79.85. Visa Inc. has a 1-year low of $66.12 and a 1-year high of $83.96. The firm has a market cap of $191.83 billion, a price-to-earnings ratio of 32.02 and a beta of 1.00.
Visa (NYSE:V) last issued its earnings results on Monday, October 24th. The credit-card processor reported $0.78 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.73 by $0.05. The business earned $4.26 billion during the quarter. Visa had a return on equity of 24.31% and a net margin of 39.72%. The business’s quarterly revenue was up 19.3% on a year-over-year basis. During the same period last year, the business earned $0.62 EPS. On average, equities research analysts expect that Visa Inc. will post $3.29 earnings per share for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Tuesday, December 6th. Stockholders of record on Friday, November 18th will be given a $0.165 dividend. This represents a $0.66 annualized dividend and a dividend yield of 0.81%. The ex-dividend date is Wednesday, November 16th. This is a boost from Visa’s previous quarterly dividend of $0.14. Visa’s dividend payout ratio (DPR) is 22.67%.
Several research firms have weighed in on V. Vetr downgraded Visa from a “buy” rating to a “hold” rating and set a $84.90 target price for the company. in a research report on Monday, November 7th. Oppenheimer Holdings Inc. reaffirmed an “outperform” rating and issued a $90.00 target price on shares of Visa in a research report on Thursday, October 27th. RBC Capital Markets reaffirmed an “outperform” rating and issued a $89.00 target price (up from $87.00) on shares of Visa in a research report on Wednesday, October 26th. Royal Bank Of Canada lifted their target price on Visa from $87.00 to $89.00 and gave the company an “outperform” rating in a research report on Tuesday, October 25th. Finally, Stifel Nicolaus dropped their target price on Visa from $94.00 to $93.00 and set a “buy” rating for the company in a research report on Tuesday, October 25th. Seven investment analysts have rated the stock with a hold rating and twenty-seven have issued a buy rating to the company. Visa currently has an average rating of “Buy” and a consensus target price of $90.85.
Hedge funds have recently modified their holdings of the company. Ngam Advisors L.P. boosted its stake in shares of Visa by 7.4% in the second quarter. Ngam Advisors L.P. now owns 1,131,493 shares of the credit-card processor’s stock valued at $83,923,000 after buying an additional 78,447 shares during the period. Loomis Sayles & Co. L P boosted its stake in shares of Visa by 6.9% in the first quarter. Loomis Sayles & Co. L P now owns 12,349,933 shares of the credit-card processor’s stock valued at $944,523,000 after buying an additional 793,813 shares during the period. Comgest Global Investors S.A.S. boosted its stake in shares of Visa by 6.3% in the second quarter. Comgest Global Investors S.A.S. now owns 852,100 shares of the credit-card processor’s stock valued at $63,200,000 after buying an additional 50,600 shares during the period. Calamos Advisors LLC boosted its stake in shares of Visa by 66.0% in the second quarter. Calamos Advisors LLC now owns 1,519,314 shares of the credit-card processor’s stock valued at $112,688,000 after buying an additional 604,051 shares during the period. Finally, Strs Ohio boosted its stake in shares of Visa by 4.1% in the second quarter. Strs Ohio now owns 2,663,883 shares of the credit-card processor’s stock valued at $197,580,000 after buying an additional 104,300 shares during the period. 80.10% of the stock is owned by institutional investors and hedge funds.
Visa Inc is a payments technology company. The Company is engaged in operating a processing network, VisaNet, which facilitates authorization, clearing and settlement of payment transactions across the world. The Company provides its services to consumers, businesses, financial institutions and governments in more than 200 countries and territories for electronic payments.
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