Visa (NYSE:V) Price Target Raised to $321.00 at Citigroup

Visa (NYSE:V) had its target price upped by Citigroup from $314.00 to $321.00 in a research report report published on Wednesday, Benzinga reports. They currently have a buy rating on the credit-card processor’s stock.

A number of other brokerages have also recently weighed in on V. Oppenheimer boosted their price objective on Visa from $297.00 to $299.00 and gave the company an outperform rating in a research note on Wednesday. Mizuho reiterated a neutral rating and issued a $265.00 price objective on shares of Visa in a research note on Wednesday, March 27th. Susquehanna boosted their target price on Visa from $300.00 to $326.00 and gave the company a positive rating in a report on Friday, January 26th. William Blair reissued an outperform rating on shares of Visa in a report on Friday, January 26th. Finally, Wedbush boosted their target price on Visa from $280.00 to $300.00 and gave the company an outperform rating in a report on Wednesday. Five equities research analysts have rated the stock with a hold rating and twenty have issued a buy rating to the company’s stock. Based on data from MarketBeat, Visa presently has a consensus rating of Moderate Buy and a consensus price target of $302.58.

Visa Price Performance

V stock opened at $275.04 on Wednesday. The company has a quick ratio of 1.45, a current ratio of 1.45 and a debt-to-equity ratio of 0.54. Visa has a fifty-two week low of $216.14 and a fifty-two week high of $290.96. The business has a 50 day moving average price of $279.44 and a 200 day moving average price of $263.97. The stock has a market cap of $505.11 billion, a price-to-earnings ratio of 30.73, a PEG ratio of 1.89 and a beta of 0.96.

Visa (NYSE:V) last issued its quarterly earnings data on Tuesday, April 23rd. The credit-card processor reported $2.51 earnings per share for the quarter, beating analysts’ consensus estimates of $2.43 by $0.08. Visa had a return on equity of 51.72% and a net margin of 53.87%. The company had revenue of $8.78 billion during the quarter, compared to analysts’ expectations of $8.62 billion. During the same quarter in the previous year, the business earned $2.09 earnings per share. The firm’s revenue for the quarter was up 9.9% on a year-over-year basis. Equities research analysts anticipate that Visa will post 9.88 earnings per share for the current fiscal 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 given a $0.52 dividend. The ex-dividend date is Thursday, May 16th. This represents a $2.08 annualized dividend and a dividend yield of 0.76%. Visa’s dividend payout ratio is currently 23.24%.

Insider Activity

In other news, CAO Peter M. Andreski sold 2,615 shares of the company’s 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 sale, the chief accounting officer now directly owns 4,898 shares in the company, valued at $1,365,954.24. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other Visa news, CEO Ryan Mcinerney sold 8,200 shares of the firm’s stock in a transaction dated 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 sale, the chief executive officer now directly owns 538 shares of the company’s stock, valued at approximately $150,833.68. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, CAO Peter M. Andreski sold 2,615 shares of the firm’s stock in a transaction dated Wednesday, February 7th. The stock was sold at an average price of $278.88, for a total value of $729,271.20. Following the completion of the sale, the chief accounting officer now directly owns 4,898 shares in the company, valued at $1,365,954.24. The disclosure for this sale can be found here. Insiders have sold 18,965 shares of company stock worth $5,256,352 over the last three months. 0.19% of the stock is currently owned by corporate insiders.

Institutional Trading of Visa

A number of hedge funds have recently added to or reduced their stakes in the business. Alaethes Wealth LLC raised its holdings in shares of Visa by 0.4% during the 4th quarter. Alaethes Wealth LLC now owns 8,843 shares of the credit-card processor’s stock valued at $2,302,000 after buying an additional 37 shares during the period. Jessup Wealth Management Inc increased its holdings in Visa by 0.7% during the 1st quarter. Jessup Wealth Management Inc now owns 5,051 shares of the credit-card processor’s stock worth $1,410,000 after purchasing an additional 37 shares during the last quarter. Garden State Investment Advisory Services LLC increased its holdings in Visa by 1.8% during the 4th quarter. Garden State Investment Advisory Services LLC now owns 2,191 shares of the credit-card processor’s stock worth $571,000 after purchasing an additional 38 shares during the last quarter. Aurora Private Wealth Inc. increased its holdings in Visa by 3.8% during the 1st quarter. Aurora Private Wealth Inc. now owns 1,036 shares of the credit-card processor’s stock worth $289,000 after purchasing an additional 38 shares during the last quarter. Finally, Holistic Financial Partners increased its holdings in Visa by 2.0% during the 4th quarter. Holistic Financial Partners now owns 1,975 shares of the credit-card processor’s stock worth $514,000 after purchasing an additional 39 shares during the last quarter. 82.15% of the stock is owned by institutional investors and hedge funds.

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.