Visa Inc. (V) Short Interest Update
Visa Inc. (NYSE:V) was the recipient of a large decline in short interest in the month of October. As of October 31st, there was short interest totalling 43,111,472 shares, a decline of 19.1% from the October 14th total of 53,293,792 shares. Based on an average daily volume of 10,151,599 shares, the short-interest ratio is currently 4.2 days. Currently, 2.3% of the shares of the company are sold short.
V has been the subject of a number of research analyst reports. Drexel Hamilton raised shares of Visa from a “hold” rating to a “buy” rating in a research note on Monday, October 24th. Piper Jaffray Cos. reiterated an “overweight” rating and issued a $94.00 target price (up from $92.00) on shares of Visa in a report on Monday, July 25th. Stifel Nicolaus dropped their target price on shares of Visa from $94.00 to $93.00 and set a “buy” rating on the stock in a report on Tuesday, October 25th. Keefe, Bruyette & Woods reiterated an “outperform” rating and issued a $99.00 target price on shares of Visa in a report on Friday, October 14th. Finally, Nomura reiterated a “buy” rating and issued a $91.00 target price on shares of Visa in a report on Monday, July 25th. Six research analysts have rated the stock with a hold rating and twenty-eight have issued a buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and an average target price of $90.85.
In other news, President Ryan Mcinerney sold 18,500 shares of the company’s stock in a transaction that occurred on 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 sale, the president now directly owns 12,548 shares of the company’s stock, valued at approximately $1,040,480.16. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Charles W. Scharf sold 772,912 shares of the company’s stock in a transaction that occurred on Friday, October 28th. The stock was sold at an average price of $82.65, for a total transaction of $63,881,176.80. Following the completion of the sale, the insider now directly owns 852,880 shares of the company’s stock, valued at $70,490,532. The disclosure for this sale can be found here. Company insiders own 0.17% of the company’s stock.
Hedge funds have recently made changes to their positions in the stock. National Pension Service boosted its stake in shares of Visa by 4.2% in the first quarter. National Pension Service now owns 990,516 shares of the credit-card processor’s stock valued at $75,755,000 after buying an additional 40,269 shares during the last quarter. Invictus RG boosted its stake in shares of Visa by 144.2% in the first quarter. Invictus RG now owns 2,454 shares of the credit-card processor’s stock valued at $188,000 after buying an additional 1,449 shares during the last quarter. Williams Jones & Associates LLC boosted its stake in shares of Visa by 1,260.7% in the first quarter. Williams Jones & Associates LLC now owns 265,658 shares of the credit-card processor’s stock valued at $20,318,000 after buying an additional 246,135 shares during the last quarter. AMP Capital Investors Ltd boosted its stake in shares of Visa by 2.4% in the first quarter. AMP Capital Investors Ltd now owns 1,466,206 shares of the credit-card processor’s stock valued at $112,577,000 after buying an additional 34,099 shares during the last quarter. Finally, Nuveen Asset Management LLC boosted its stake in shares of Visa by 32.6% in the first quarter. Nuveen Asset Management LLC now owns 902,586 shares of the credit-card processor’s stock valued at $69,030,000 after buying an additional 221,821 shares during the last quarter. Institutional investors and hedge funds own 80.23% of the company’s stock.
Visa (NYSE:V) opened at 81.07 on Friday. The firm has a market cap of $189.93 billion, a PE ratio of 31.71 and a beta of 1.00. Visa has a 52 week low of $66.12 and a 52 week high of $83.96. The stock has a 50 day moving average of $82.00 and a 200-day moving average of $79.88.
Visa (NYSE:V) last released its quarterly earnings data on Monday, October 24th. The credit-card processor reported $0.78 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.73 by $0.05. Visa had a return on equity of 24.31% and a net margin of 39.72%. The company earned $4.26 billion during the quarter. During the same period in the prior year, the company earned $0.62 EPS. The business’s quarterly revenue was up 19.3% compared to the same quarter last year. Analysts expect that Visa will post $3.29 earnings per share for the current year.
The business also recently announced a quarterly dividend, which will be paid on Tuesday, December 6th. Investors of record on Friday, November 18th will be issued a $0.165 dividend. The ex-dividend date of this dividend is Wednesday, November 16th. This is a boost from Visa’s previous quarterly dividend of $0.14. This represents a $0.66 annualized dividend and a yield of 0.81%. Visa’s dividend payout ratio is presently 22.67%.
Visa Company Profile
Visa Inc is a payments technology company. The Company and its subsidiaries, including Visa U.SA Inc (Visa U.SA), Visa International Service Association (Visa International), Visa Worldwide Pte. Limited, Visa Canada Corporation, Inovant LLC and CyberSource Corporation (CyberSource), operate a processing network, VisaNet, which facilitates authorization, clearing and settlement of payment transactions around the world.
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