Mary B. Cranston Sells 10,400 Shares of Visa Inc. (V) Stock
Visa Inc. (NYSE:V) Director Mary B. Cranston sold 10,400 shares of Visa stock in a transaction dated Thursday, August 17th. The stock was sold at an average price of $103.32, for a total value of $1,074,528.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website.
Visa Inc. (NYSE:V) traded up 0.69% during trading on Monday, hitting $103.22. The stock had a trading volume of 5,394,932 shares. The company has a market cap of $236.00 billion, a PE ratio of 38.39 and a beta of 0.94. Visa Inc. has a 12 month low of $75.17 and a 12 month high of $103.93. The company’s 50 day moving average is $98.78 and its 200-day moving average is $92.76.
Visa (NYSE:V) last issued its quarterly earnings data on Thursday, July 20th. The credit-card processor reported $0.86 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.81 by $0.05. Visa had a return on equity of 30.95% and a net margin of 36.53%. The business had revenue of $4.57 billion during the quarter, compared to analysts’ expectations of $4.36 billion. During the same period in the previous year, the firm posted $0.69 earnings per share. The company’s revenue was up 25.8% on a year-over-year basis. On average, equities research analysts predict that Visa Inc. will post $3.43 earnings per share for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 5th. Stockholders of record on Friday, August 18th will be paid a $0.165 dividend. The ex-dividend date is Wednesday, August 16th. This represents a $0.66 dividend on an annualized basis and a dividend yield of 0.64%. Visa’s payout ratio is presently 24.54%.
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Several large investors have recently modified their holdings of V. Kentucky Retirement Systems purchased a new stake in shares of Visa during the fourth quarter worth $10,573,000. Kentucky Retirement Systems Insurance Trust Fund purchased a new stake in shares of Visa during the fourth quarter worth $4,717,000. Highbridge Capital Management LLC boosted its stake in shares of Visa by 122.1% in the fourth quarter. Highbridge Capital Management LLC now owns 9,196 shares of the credit-card processor’s stock worth $718,000 after buying an additional 50,796 shares during the last quarter. Toth Financial Advisory Corp boosted its stake in shares of Visa by 15.3% in the first quarter. Toth Financial Advisory Corp now owns 27,243 shares of the credit-card processor’s stock worth $2,421,000 after buying an additional 3,608 shares during the last quarter. Finally, Park National Corp OH boosted its stake in shares of Visa by 18.7% in the first quarter. Park National Corp OH now owns 4,592 shares of the credit-card processor’s stock worth $408,000 after buying an additional 722 shares during the last quarter. 82.29% of the stock is owned by institutional investors and hedge funds.
A number of equities research analysts have issued reports on the company. BidaskClub upgraded Visa from a “buy” rating to a “strong-buy” rating in a research note on Thursday, August 10th. Zacks Investment Research upgraded Visa from a “hold” rating to a “buy” rating and set a $112.00 price target for the company in a research note on Tuesday, August 1st. Citigroup Inc. restated a “buy” rating and set a $115.00 price target (up from $100.00) on shares of Visa in a research note on Monday, July 24th. Wells Fargo & Company restated a “market perform” rating and set a $100.00 price target (up from $87.50) on shares of Visa in a research note on Saturday, July 22nd. Finally, Credit Suisse Group set a $112.00 price target on Visa and gave the company a “buy” rating in a research note on Saturday, July 22nd. Four research analysts have rated the stock with a hold rating, twenty-six have assigned a buy rating and two have issued a strong buy rating to the company. Visa presently has an average rating of “Buy” and an average target price of $104.56.
Visa Inc (Visa) is a payments technology company that connects consumers, merchants, financial institutions, businesses, strategic partners and government entities to electronic payments. The Company operates through payment services segment. The Company enables global commerce through the transfer of value and information among the participants.
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