Visa (NYSE:V) Stock Price Expected to Rise, Piper Sandler Analyst Says

Visa (NYSE:V) had its price target lifted by Piper Sandler from $319.00 to $322.00 in a research note published on Wednesday, Benzinga reports. The firm currently has an overweight rating on the credit-card processor’s stock.

V has been the topic of a number of other research reports. BNP Paribas raised Visa from a “neutral” rating to an “outperform” rating and set a $325.00 price target on the stock in a report on Tuesday, September 3rd. Keefe, Bruyette & Woods upgraded shares of Visa from a “moderate buy” rating to a “strong-buy” rating in a research report on Tuesday, September 24th. JPMorgan Chase & Co. lifted their price target on shares of Visa from $290.00 to $320.00 and gave the company an “overweight” rating in a research report on Tuesday, August 20th. Oppenheimer initiated coverage on Visa in a research report on Tuesday, October 1st. They set an “outperform” rating and a $318.00 price objective for the company. Finally, BMO Capital Markets lifted their price objective on Visa from $300.00 to $310.00 and gave the stock an “outperform” rating in a research report on Thursday, October 3rd. Four investment analysts have rated the stock with a hold rating, twenty-four have issued a buy rating and two have given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $320.70.

Visa Trading Up 0.3 %

Shares of Visa stock opened at $290.74 on Wednesday. The firm has a market capitalization of $529.82 billion, a price-to-earnings ratio of 29.88, a PEG ratio of 1.94 and a beta of 0.95. Visa has a fifty-two week low of $239.20 and a fifty-two week high of $296.34. The company has a debt-to-equity ratio of 0.55, a quick ratio of 1.37 and a current ratio of 1.28. The stock has a 50 day moving average of $281.00 and a 200 day moving average of $273.63.

Visa (NYSE:V) last announced its quarterly earnings data on Tuesday, October 29th. The credit-card processor reported $2.71 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.58 by $0.13. The business had revenue of $9.62 billion for the quarter, compared to analysts’ expectations of $9.49 billion. Visa had a return on equity of 53.16% and a net margin of 54.96%. The company’s revenue for the quarter was up 11.7% compared to the same quarter last year. During the same period last year, the firm earned $2.33 earnings per share. As a group, research analysts predict that Visa will post 11.17 earnings per share for the current year.

Visa Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, December 2nd. Investors of record on Tuesday, November 12th will be paid a $0.59 dividend. This is a positive change from Visa’s previous quarterly dividend of $0.52. The ex-dividend date is Tuesday, November 12th. This represents a $2.36 dividend on an annualized basis and a yield of 0.81%. Visa’s dividend payout ratio (DPR) is currently 21.38%.

Insider Buying and Selling

In related news, CEO Ryan Mcinerney sold 8,620 shares of the firm’s stock in a transaction that occurred on Tuesday, September 3rd. The shares were sold at an average price of $276.37, for a total value of $2,382,309.40. Following the completion of the transaction, the chief executive officer now owns 538 shares of the company’s stock, valued at approximately $148,687.06. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Company insiders own 0.19% of the company’s stock.

Hedge Funds Weigh In On Visa

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. WFA Asset Management Corp boosted its stake in shares of Visa by 4.6% during the 1st quarter. WFA Asset Management Corp now owns 2,263 shares of the credit-card processor’s stock valued at $632,000 after buying an additional 100 shares during the period. Valeo Financial Advisors LLC lifted its stake in shares of Visa by 1.1% in the 1st quarter. Valeo Financial Advisors LLC now owns 60,371 shares of the credit-card processor’s stock valued at $16,848,000 after purchasing an additional 655 shares during the last quarter. KFG Wealth Management LLC lifted its stake in shares of Visa by 13.2% in the 1st quarter. KFG Wealth Management LLC now owns 949 shares of the credit-card processor’s stock valued at $265,000 after purchasing an additional 111 shares during the last quarter. Leeward Financial Partners LLC lifted its stake in shares of Visa by 5.7% in the 1st quarter. Leeward Financial Partners LLC now owns 13,782 shares of the credit-card processor’s stock valued at $3,846,000 after purchasing an additional 739 shares during the last quarter. Finally, Redmont Wealth Advisors LLC acquired a new stake in shares of Visa in the 1st quarter valued at $103,000. Institutional investors and hedge funds own 82.15% of the company’s stock.

Visa Company Profile

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.