Visa Inc (NYSE:V) Short Interest Down 7.1% in November

Visa Inc (NYSE:V) was the recipient of a large drop in short interest in the month of November. As of November 29th, there was short interest totalling 28,790,000 shares, a drop of 7.1% from the November 14th total of 30,990,000 shares. Based on an average daily trading volume, of 7,680,000 shares, the days-to-cover ratio is presently 3.7 days. Currently, 1.7% of the shares of the stock are short sold.

Several analysts recently weighed in on the company. BMO Capital Markets upped their price objective on Visa from $231.00 to $239.00 and gave the stock an “outperform” rating in a research report on Friday, October 25th. Citigroup lifted their target price on Visa from $185.00 to $206.00 and gave the company a “buy” rating in a research report on Monday, September 9th. Guggenheim set a $194.00 target price on Visa and gave the company a “buy” rating in a research report on Friday, October 25th. Morgan Stanley reissued an “overweight” rating and set a $207.00 target price on shares of Visa in a research note on Friday, October 25th. Finally, ValuEngine cut shares of Visa from a “buy” rating to a “hold” rating in a report on Wednesday, September 11th. Three research analysts have rated the stock with a hold rating and twenty-three have assigned a buy rating to the stock. Visa presently has an average rating of “Buy” and a consensus target price of $199.04.

In other Visa news, EVP William M. Sheedy sold 21,164 shares of the firm’s stock in a transaction on Tuesday, October 29th. The stock was sold at an average price of $178.71, for a total value of $3,782,218.44. Following the sale, the executive vice president now owns 227,126 shares of the company’s stock, valued at approximately $40,589,687.46. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CEO Alfred F. Kelly, Jr. sold 7,000 shares of the firm’s stock in a transaction on Friday, November 29th. The shares were sold at an average price of $183.72, for a total value of $1,286,040.00. Following the completion of the sale, the chief executive officer now directly owns 84,788 shares in the company, valued at approximately $15,577,251.36. The disclosure for this sale can be found here. Over the last three months, insiders sold 51,480 shares of company stock worth $9,281,012. Insiders own 0.17% of the company’s stock.

A number of institutional investors and hedge funds have recently bought and sold shares of V. Gladstone Institutional Advisory LLC boosted its position in Visa by 16.4% during the second quarter. Gladstone Institutional Advisory LLC now owns 5,560 shares of the credit-card processor’s stock valued at $965,000 after acquiring an additional 782 shares during the last quarter. Alera Investment Advisors LLC lifted its stake in shares of Visa by 5.7% in the 2nd quarter. Alera Investment Advisors LLC now owns 1,599 shares of the credit-card processor’s stock valued at $278,000 after purchasing an additional 86 shares during the period. Castle Rock Wealth Management LLC boosted its position in shares of Visa by 45.4% during the 2nd quarter. Castle Rock Wealth Management LLC now owns 12,411 shares of the credit-card processor’s stock valued at $2,154,000 after purchasing an additional 3,876 shares in the last quarter. Commerce Bank boosted its position in shares of Visa by 1.9% during the 2nd quarter. Commerce Bank now owns 613,768 shares of the credit-card processor’s stock valued at $106,519,000 after purchasing an additional 11,541 shares in the last quarter. Finally, Schroder Investment Management Group grew its stake in Visa by 2.5% during the second quarter. Schroder Investment Management Group now owns 3,872,913 shares of the credit-card processor’s stock worth $672,142,000 after purchasing an additional 95,302 shares during the period. 81.21% of the stock is currently owned by hedge funds and other institutional investors.

Shares of V stock traded up $2.50 during mid-day trading on Friday, reaching $185.14. 8,414,067 shares of the stock traded hands, compared to its average volume of 7,290,167. The company has a market cap of $358.44 billion, a price-to-earnings ratio of 34.03, a price-to-earnings-growth ratio of 1.90 and a beta of 0.93. The company has a quick ratio of 1.56, a current ratio of 1.56 and a debt-to-equity ratio of 0.57. The stock’s fifty day simple moving average is $180.55 and its two-hundred day simple moving average is $176.72. Visa has a 1-year low of $121.60 and a 1-year high of $187.05.

Visa (NYSE:V) last released its quarterly earnings data on Thursday, October 24th. The credit-card processor reported $1.47 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $1.43 by $0.04. The company had revenue of $6.14 billion during the quarter, compared to the consensus estimate of $6.08 billion. Visa had a return on equity of 42.57% and a net margin of 52.57%. The firm’s revenue was up 12.9% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $1.21 earnings per share. On average, equities research analysts anticipate that Visa will post 6.21 EPS for the current fiscal year.

The firm also recently announced a dividend, which was paid on Tuesday, December 3rd. Investors of record on Friday, November 15th were given a dividend of $0.30 per share. The ex-dividend date of this dividend was Thursday, November 14th. Visa’s dividend payout ratio is presently 22.06%.

Visa Company Profile

Visa Inc operates as a payments technology company worldwide. The company facilitates commerce through the transfer of value and information among consumers, merchants, financial institutions, businesses, strategic partners, and government entities. It operates VisaNet, a processing network that enables authorization, clearing, and settlement of payment transactions; and offers fraud protection for account holders and assured payment for merchants.

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