Visa (NYSE: V) hits new 12-month low following insider sale

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Shares of Visa Inc. (NYSE: V) hit a new 52-week low on Thursday following insider selling activity. The stock traded as low as $ 190.10 and last traded at $ 190.16, with volume of 13,201,305 shares changing hands. The stock previously closed at $ 193.77. Specifically, CEO Alfred F. Kelly, Jr. sold 9,000 shares in a trade on Thursday, September 30. The shares were sold at an average price of $ 227.58, for a total trade of $ 2,048,220.00. The sale has been disclosed in a legal file with the Securities & Exchange Commission, which can be accessed via this link. Also, the President Ryan mcinerney sold 11,193 shares in a trade on Monday, November 1. The stock was sold for an average price of $ 212.44, for a total trade of $ 2,377,840.92. Disclosure of this sale can be found here. Insiders have sold a total of 49,387 shares of the company valued at $ 10,569,980 in the past ninety days. Insiders own 0.19% of the shares of the company.

V has been the subject of several recent analyst reports. Citigroup lowered its price target on Visa shares from $ 288.00 to $ 285.00 and set a “buy” rating for the company in a research note on Thursday, October 28. Zacks investment research Reduces Visa’s shares from a “buy” rating to a “hold” rating and has set a target price of $ 227.00 for the company. in a research note on Thursday, October 28. Mizuho lowered his price target on Visa shares from $ 275.00 to $ 255.00 and set a “buy” rating for the company in a research note on Monday, November 1. JPMorgan Chase & Co. raised its price target on Visa shares from $ 267.00 to $ 277.00 and assigned the company an “overweight” rating in a Wednesday October 27th research note. Finally, the Royal Bank of Canada lowered its price target on Visa shares from $ 297.00 to $ 284.00 and established an “outperformance” rating for the company in a research note on Wednesday, October 27. Two research analysts rated the stock with a conservation rating and twenty-five gave the company’s stock a buy rating. Based on MarketBeat data, the stock has an average rating of “Buy” and a consensus price target of $ 270.11.

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The company’s fifty-day moving average is $ 217.23 and its 200-day moving average is $ 227.87. The stock has a market cap of $ 366.12 billion, a PE ratio of 33.78, a P / E / G ratio of 1.88 and a beta of 0.92. The company has a quick ratio of 2.00, a current ratio of 1.75, and a debt ratio of 0.58.

Visa (NYSE: V) last released its results on Tuesday, October 26. The credit card processor reported earnings per share (EPS) of $ 1.62 for the quarter, beating analyst consensus estimates of $ 1.53 by $ 0.09. Visa had a net margin of 51.07% and a return on equity of 37.62%. The company posted revenue of $ 6.56 billion in the quarter, compared to a consensus estimate of $ 6.51 billion. During the same period of the previous year, the company achieved earnings per share of $ 1.12. Visa revenue increased 28.6% from the same quarter last year. As a group, sell-side analysts predict that Visa Inc. will post 7.05 EPS for the current fiscal year.

The company also recently declared a quarterly dividend, which will be paid on Tuesday, December 7. Shareholders of record on Friday, November 12 will receive a dividend of $ 0.375 per share. This represents a dividend of $ 1.50 on an annualized basis and a return of 0.79%. This is a boost from Visa’s previous quarterly dividend of $ 0.32. The ex-dividend date of this dividend is Wednesday, November 10. Visa’s payout rate is 26.64%.

A number of hedge funds have recently changed their positions in the company. Danda Trouve Investment Management Inc. acquired a new position in Visa shares during the second quarter valued at $ 25,000. University of Texas Texas AM Investment Management Co. acquired a new position in Visa shares during the third quarter valued at $ 26,000. Delos Wealth Advisors LLC acquired a new equity position in Visa during the second quarter valued at $ 29,000. Cranbrook Wealth Management LLC increased its position in Visa stocks by 236.8% during the third quarter. Cranbrook Wealth Management LLC now owns 128 shares of the credit card processor valued at $ 29,000 after purchasing an additional 90 shares in the last quarter. Finally, McClarren Financial Advisors Inc. increased its position in Visa shares by 46.5% during the third quarter. McClarren Financial Advisors Inc. now owns 148 shares of the credit card processor valued at $ 33,000 after buying 47 more shares in the last quarter. 80.54% of the shares are currently held by hedge funds and other institutional investors.

About Visa (NYSE: V)

Visa, Inc is committed to providing digital payment services. It also facilitates global commerce through the transfer of value and information between a global network of consumers, traders, financial institutions, businesses, strategic partners and government entities. It offers debit cards, credit cards, prepaid products, commercial payment solutions and global ATMs.

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