Visa (NYSE:V) Stock Price Down 0.7% After Insider Selling

Shares of Visa Inc. (NYSE:V) were down 0.7% on Monday following insider selling activity. The stock traded as low as $272.12 and last traded at $272.59. Approximately 781,892 shares were traded during trading, a decline of 87% from the average daily volume of 5,886,268 shares. The stock had previously closed at $274.52.

Specifically, CAO Peter M. Andreski sold 2,615 shares of the stock in a transaction on Wednesday, February 7th. The stock was sold at an average price of $278.88, for a total value of $729,271.20. Following the transaction, the chief accounting officer now directly owns 4,898 shares in the company, valued at approximately $1,365,954.24. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. In other news, CEO Ryan Mcinerney sold 8,200 shares of the stock in a transaction on Monday, April 1st. The stock was sold at an average price of $280.36, for a total value of $2,298,952.00. Following the transaction, the chief executive officer now owns 538 shares of the company’s stock, valued at approximately $150,833.68. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CAO Peter M. Andreski sold 2,615 shares of the stock in a transaction on Wednesday, February 7th. The shares were sold at an average price of $278.88, for a total value of $729,271.20. Following the completion of the transaction, the chief accounting officer now directly owns 4,898 shares in the company, valued at approximately $1,365,954.24. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 19,874 shares of company stock worth $5,506,827. Insiders own 0.19% of the company’s stock.

Analyst Ratings Changes

A number of research firms have recently weighed in on V. Macquarie increased their price target on Visa from $290.00 to $300.00 and gave the company an “outperform” rating in a research note on Wednesday, April 24th. Wells Fargo & Company increased their price target on Visa from $300.00 to $325.00 and gave the company an “overweight” rating in a research note on Wednesday, March 6th. Wedbush raised their price objective on Visa from $280.00 to $300.00 and gave the stock an “outperform” rating in a research note on Wednesday, April 24th. TD Cowen assumed coverage on Visa in a research note on Thursday, April 11th. They set a “buy” rating and a $320.00 price objective on the stock. Finally, UBS Group raised their price objective on Visa from $315.00 to $325.00 and gave the stock a “buy” rating in a research note on Wednesday, April 24th. Five research analysts have rated the stock with a hold rating and twenty have given a buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $302.58.

Visa Price Performance

The company has a 50 day simple moving average of $279.11 and a 200-day simple moving average of $264.97. The stock has a market cap of $499.18 billion, a price-to-earnings ratio of 30.37, a P/E/G ratio of 1.89 and a beta of 0.96. The company has a current ratio of 1.40, a quick ratio of 1.40 and a debt-to-equity ratio of 0.53.

Visa (NYSE:V) last announced its quarterly earnings data on Tuesday, April 23rd. The credit-card processor reported $2.51 earnings per share for the quarter, beating the consensus estimate of $2.43 by $0.08. The company had revenue of $8.78 billion during the quarter, compared to analysts’ expectations of $8.62 billion. Visa had a return on equity of 51.23% and a net margin of 53.87%. Visa’s revenue for the quarter was up 9.9% compared to the same quarter last year. During the same quarter last year, the company earned $2.09 EPS. Research analysts expect that Visa Inc. will post 9.89 EPS for the current year.

Visa Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, June 3rd. Stockholders of record on Friday, May 17th will be issued a $0.52 dividend. This represents a $2.08 annualized dividend and a dividend yield of 0.77%. The ex-dividend date is Thursday, May 16th. Visa’s payout ratio is 23.24%.

Hedge Funds Weigh In On Visa

Hedge funds have recently modified their holdings of the stock. Westend Capital Management LLC bought a new stake in Visa in the first quarter valued at approximately $25,000. Livelsberger Financial Advisory bought a new stake in Visa in the fourth quarter valued at approximately $25,000. Altshuler Shaham Ltd bought a new stake in Visa in the third quarter valued at approximately $25,000. O Brien Wealth Partners LLC bought a new stake in Visa in the fourth quarter valued at approximately $32,000. Finally, Frank Rimerman Advisors LLC bought a new stake in Visa in the fourth quarter valued at approximately $33,000. Institutional investors own 82.15% of the company’s stock.

About Visa

Visa Inc operates as a payment technology company in the United States and internationally. The company operates VisaNet, a transaction processing network that enables authorization, clearing, and settlement of payment transactions. It also offers credit, debit, and prepaid card products; tap to pay, tokenization, and click to pay services; Visa Direct, a solution that facilitates the delivery of funds to eligible cards, deposit accounts, and digital wallets; Visa B2B Connect, a multilateral business-to-business cross-border payments network; Visa Cross-Border Solution, a cross-border consumer payments solution; and Visa DPS that provides a range of value-added services, including fraud mitigation, dispute management, data analytics, campaign management, a suite of digital solutions, and contact center services.