Julie Rottenberg Sells 2,027 Shares of Visa (NYSE:V) Stock

Visa Inc. (NYSE:VGet Free Report) General Counsel Julie Rottenberg sold 2,027 shares of the stock in a transaction dated Thursday, July 2nd. The stock was sold at an average price of $360.00, for a total transaction of $729,720.00. Following the transaction, the general counsel owned 18,404 shares of the company’s stock, valued at approximately $6,625,440. This represents a 9.92% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Visa Stock Performance

Shares of NYSE V opened at $352.21 on Wednesday. The company has a debt-to-equity ratio of 0.64, a quick ratio of 1.09 and a current ratio of 1.09. The stock has a 50 day moving average price of $328.99 and a 200 day moving average price of $324.88. The stock has a market capitalization of $631.79 billion, a PE ratio of 30.68, a price-to-earnings-growth ratio of 1.91 and a beta of 0.75. Visa Inc. has a 52 week low of $293.89 and a 52 week high of $365.02.

Visa (NYSE:VGet Free Report) last posted its quarterly earnings results on Tuesday, April 28th. The credit-card processor reported $3.31 earnings per share for the quarter, topping the consensus estimate of $3.10 by $0.21. Visa had a return on equity of 65.00% and a net margin of 51.68%.The firm had revenue of $11.23 billion for the quarter, compared to analyst estimates of $10.75 billion. During the same quarter in the previous year, the firm earned $2.76 EPS. The business’s quarterly revenue was up 17.1% on a year-over-year basis. Analysts predict that Visa Inc. will post 13.1 earnings per share for the current fiscal year.

Visa announced that its board has initiated a stock buyback program on Tuesday, April 28th that permits the company to buyback $20.00 billion in outstanding shares. This buyback authorization permits the credit-card processor to repurchase up to 3.6% of its shares through open market purchases. Shares buyback programs are usually a sign that the company’s management believes its stock is undervalued.

Visa Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, June 1st. Investors of record on Tuesday, May 12th were issued a dividend of $0.67 per share. This represents a $2.68 dividend on an annualized basis and a yield of 0.8%. The ex-dividend date was Tuesday, May 12th. Visa’s payout ratio is presently 23.34%.

Wall Street Analysts Forecast Growth

A number of research analysts have recently commented on the stock. Piper Sandler started coverage on shares of Visa in a research report on Monday, June 29th. They issued an “overweight” rating and a $394.00 price objective for the company. Robert W. Baird set a $412.00 target price on shares of Visa and gave the company an “outperform” rating in a report on Monday. Oppenheimer reiterated an “outperform” rating and set a $403.00 price target (up from $391.00) on shares of Visa in a report on Wednesday, April 29th. Loop Capital started coverage on Visa in a research report on Tuesday, March 31st. They set a “buy” rating and a $387.00 price target on the stock. Finally, Raymond James Financial restated an “outperform” rating and issued a $389.00 price objective on shares of Visa in a research note on Wednesday, April 29th. Six analysts have rated the stock with a Strong Buy rating, nineteen have assigned a Buy rating and one has given a Hold rating to the company’s stock. Based on data from MarketBeat, Visa currently has an average rating of “Buy” and a consensus price target of $397.39.

Check Out Our Latest Report on V

Key Visa News

Here are the key news stories impacting Visa this week:

Hedge Funds Weigh In On Visa

Several large investors have recently modified their holdings of the stock. Manitou Investment Management Ltd. lifted its position in Visa by 111.0% during the second quarter. Manitou Investment Management Ltd. now owns 8,412 shares of the credit-card processor’s stock worth $2,886,000 after acquiring an additional 4,426 shares during the last quarter. St. Louis Financial Planners Asset Management LLC acquired a new position in shares of Visa in the second quarter valued at approximately $3,685,000. Westmount Partners LLC increased its stake in shares of Visa by 1.7% during the second quarter. Westmount Partners LLC now owns 6,515 shares of the credit-card processor’s stock worth $2,235,000 after purchasing an additional 111 shares during the period. 55 North Private Wealth LLC increased its stake in shares of Visa by 58.4% during the second quarter. 55 North Private Wealth LLC now owns 2,716 shares of the credit-card processor’s stock worth $932,000 after purchasing an additional 1,001 shares during the period. Finally, Sarasin & Partners LLP lifted its holdings in Visa by 4.2% during the 2nd quarter. Sarasin & Partners LLP now owns 11,536 shares of the credit-card processor’s stock worth $3,958,000 after purchasing an additional 468 shares during the last quarter. 82.15% of the stock is owned by institutional investors.

About Visa

(Get Free Report)

Visa Inc is a global payments technology company that facilitates electronic funds transfers and digital commerce by connecting consumers, merchants, financial institutions and governments. The firm operates one of the world’s largest payment networks, providing processing, authorization, clearing and settlement services for credit, debit and prepaid card transactions. Visa’s network-based model enables partner banks and other issuers to offer branded payment products while Visa focuses on the infrastructure, standards and technologies that move money securely and efficiently around the world.

Visa’s product and service portfolio includes card-based payment products for consumers and businesses, real-time push-payment capabilities, tokenization and authentication services, fraud and risk-management tools, data analytics and APIs for fintech and merchant integration.

Further Reading

Insider Buying and Selling by Quarter for Visa (NYSE:V)

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