Shares of Visa (NYSE:V) widen after strong earnings
Shares of Visa Inc. (NYSE:V) rose ahead of Friday’s market open after the company reported better-than-expected quarterly results. The stock had previously closed at $206.15, but opened at $215.24. Visa shares last traded at $217.62, with volume at 210,221 shares. The credit card processor reported earnings per share of $1.81 for the quarter, beating the Zacks consensus estimate of $1.70 by $0.11. Visa had a net margin of 51.07% and a return on equity of 37.62%. The company posted revenue of $7.06 billion for the quarter, versus $6.79 billion expected by analysts. In the same period a year earlier, the company earned earnings per share of $1.42. The company’s quarterly revenue increased 24.1% year over year.
Several equity analysts have recently weighed in on V shares. Robert W. Baird cut his target price on Visa shares from $305.00 to $290.00 in a research note on Friday. Exane BNP Paribas has downgraded Visa’s shares from an “outperforming” rating to a “neutral” rating and has set a target price of $210.00 for the stock. in a report on Monday, January 10. Raymond James raised its price target on Visa from $265.00 to $281.00 and gave the stock an “outperform” rating in a report on Friday. Wedbush raised its price target on Visa from $240.00 to $270.00 in a research note on Friday. Finally, Zacks Investment Research downgraded Visa from a “buy” rating to a “hold” rating and set a target price of $227.00 for the company. in a report on Thursday, October 28. Five investment analysts gave the stock a hold rating and nineteen gave the stock a buy rating. According to MarketBeat.com, the company has an average rating of “Buy” and an average price target of $266.92.
In other Visa news, CEO Alfred F. Kelly, Jr. sold 9,000 shares of the company in a trade on Tuesday, November 30. The shares were sold at an average price of $195.27, for a total value of $1,757,430.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available via this link. Also, the president ryan mcineney sold 11,193 shares of the company in a transaction dated Thursday, December 9. The shares were sold at an average price of $210.00, for a total value of $2,350,530.00. Disclosure of this sale can be found here. In the past three months, insiders have sold 31,386 shares of the company worth $6,485,801. 0.21% of the shares are currently held by insiders.
A number of hedge funds have recently changed their positions in the business. The University of Texas Texas AM Investment Managment Co. purchased a new stake in Visa stock during the third quarter worth approximately $26,000. Delos Wealth Advisors LLC bought a new position in Visa during Q2 worth approximately $29,000. Cranbrook Wealth Management LLC increased its position in Visa 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 buying 90 more shares in the last quarter. Blue Bell Private Wealth Management LLC acquired a new stake in Visa in Q4 worth approximately $32,000. Finally, McClarren Financial Advisors Inc. increased its position in Visa shares by 46.5% in the third quarter. McClarren Financial Advisors Inc. now owns 148 shares of the credit card processor worth $33,000 after buying 47 more shares in the last quarter. Hedge funds and other institutional investors own 80.83% of the company’s shares.
The company has a fifty-day moving average of $209.89 and a 200-day moving average of $222.34. The company has a market capitalization of $420.15 billion, a P/E ratio of 36.62, a P/E/G ratio of 1.89 and a beta of 0.97. The company has a quick ratio of 1.75, a current ratio of 1.75 and a debt ratio of 0.58.
Visa Company Profile (NYSE:V)
Visa, Inc engages in the provision of digital payment services. It also facilitates global commerce through the transfer of value and information between the global network of consumers, merchants, financial institutions, businesses, strategic partners and government entities. It offers debit cards, credit cards, prepaid products, commercial payment solutions and global automated teller machines (ATMs).
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