Visa (NYSE:V) Given New $368.00 Price Target at Piper Sandler

Visa (NYSE:V) had its price target increased by Piper Sandler from $322.00 to $368.00 in a research report released on Friday, Marketbeat.com reports. They currently have an overweight rating on the credit-card processor’s stock.

Other equities research analysts have also recently issued reports about the company. Susquehanna lifted their target price on Visa from $339.00 to $375.00 and gave the stock a “positive” rating in a report on Wednesday, December 11th. Wells Fargo & Company upped their price target on shares of Visa from $325.00 to $360.00 and gave the company an “overweight” rating in a research note on Friday, January 3rd. Macquarie lifted their price objective on shares of Visa from $300.00 to $335.00 and gave the stock an “outperform” rating in a research note on Wednesday, October 30th. Morgan Stanley upped their target price on shares of Visa from $326.00 to $371.00 and gave the company an “overweight” rating in a research report on Wednesday, December 18th. Finally, BMO Capital Markets lifted their price target on Visa from $310.00 to $320.00 and gave the stock an “outperform” rating in a research report on Wednesday, October 30th. Four investment analysts have rated the stock with a hold rating, twenty-four have issued a buy rating and two have issued a strong buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $334.58.

Visa Stock Up 0.6 %

Shares of V stock opened at $330.20 on Friday. The company has a debt-to-equity ratio of 0.55, a current ratio of 1.28 and a quick ratio of 1.28. Visa has a one year low of $252.70 and a one year high of $331.09. The company’s fifty day moving average price is $314.54 and its 200-day moving average price is $289.98. The company has a market capitalization of $615.11 billion, a price-to-earnings ratio of 33.94, a PEG ratio of 2.17 and a beta of 0.96.

Visa (NYSE:V) last announced its quarterly earnings data on Tuesday, October 29th. The credit-card processor reported $2.71 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 the consensus estimate of $9.49 billion. Visa had a return on equity of 53.16% and a net margin of 54.96%. The business’s revenue was up 11.7% on a year-over-year basis. During the same period in the previous year, the business earned $2.33 earnings per share. Sell-side analysts expect that Visa will post 11.19 EPS for the current fiscal year.

Visa Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, December 2nd. Shareholders of record on Tuesday, November 12th were paid a $0.59 dividend. This represents a $2.36 annualized dividend and a yield of 0.71%. The ex-dividend date was Tuesday, November 12th. This is a positive change from Visa’s previous quarterly dividend of $0.52. Visa’s payout ratio is 24.25%.

Insider Buying and Selling at Visa

In other news, insider Paul D. Fabara sold 2,171 shares of the business’s stock in a transaction on Friday, November 22nd. The shares were sold at an average price of $307.97, for a total transaction of $668,602.87. Following the sale, the insider now directly owns 17,894 shares of the company’s stock, valued at $5,510,815.18. The trade was a 10.82 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Ryan Mcinerney sold 8,620 shares of the firm’s stock in a transaction on Thursday, January 2nd. The stock was sold at an average price of $317.78, for a total value of $2,739,263.60. The disclosure for this sale can be found here. Insiders own 0.13% of the company’s stock.

Hedge Funds Weigh In On Visa

A number of institutional investors have recently bought and sold shares of the business. MBB Public Markets I LLC boosted its position in Visa by 2,662.4% in the 2nd quarter. MBB Public Markets I LLC now owns 112,514 shares of the credit-card processor’s stock worth $29,532,000 after purchasing an additional 108,441 shares in the last quarter. Maverick Capital Ltd. boosted its holdings in Visa by 28.3% during the second quarter. Maverick Capital Ltd. now owns 590,112 shares of the credit-card processor’s stock worth $154,887,000 after buying an additional 130,254 shares in the last quarter. Matrix Private Capital Group LLC grew its position in Visa by 2.3% during the second quarter. Matrix Private Capital Group LLC now owns 2,244 shares of the credit-card processor’s stock valued at $589,000 after buying an additional 50 shares during the period. Marshfield Associates increased its holdings in Visa by 0.3% in the second quarter. Marshfield Associates now owns 925,954 shares of the credit-card processor’s stock valued at $243,035,000 after buying an additional 2,825 shares in the last quarter. Finally, Makena Capital Management LLC raised its position in shares of Visa by 1.7% in the second quarter. Makena Capital Management LLC now owns 61,525 shares of the credit-card processor’s stock worth $16,148,000 after acquiring an additional 1,020 shares during the period. 82.15% of the stock is owned by hedge funds and other institutional investors.

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.