Visa (NYSE:V) Price Target Raised to $391.00

Visa (NYSE:V) had its target price boosted by Oppenheimer from $390.00 to $391.00 in a report published on Wednesday,Benzinga reports. They currently have an outperform rating on the credit-card processor’s stock.

Other research analysts also recently issued research reports about the company. Citigroup started coverage on Visa in a research note on Monday, June 2nd. They issued a “buy” rating on the stock. Evercore ISI started coverage on Visa in a research note on Wednesday, April 9th. They issued an “in-line” rating and a $330.00 target price on the stock. Jefferies Financial Group boosted their target price on Visa from $400.00 to $410.00 and gave the company a “buy” rating in a research note on Tuesday, May 27th. BMO Capital Markets boosted their target price on Visa from $370.00 to $380.00 and gave the company an “outperform” rating in a research note on Wednesday, April 30th. Finally, Wall Street Zen upgraded Visa from a “hold” rating to a “buy” rating in a research note on Monday, May 12th. Five equities research analysts have rated the stock with a hold rating, twenty-three have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $372.84.

Visa Stock Up 1.3%

NYSE:V opened at $358.70 on Wednesday. The firm has a market capitalization of $661.86 billion, a price-to-earnings ratio of 36.05, a PEG ratio of 2.43 and a beta of 0.92. Visa has a 1-year low of $252.70 and a 1-year high of $375.51. The company has a current ratio of 1.08, a quick ratio of 1.08 and a debt-to-equity ratio of 0.45. The business’s fifty day moving average price is $355.79 and its 200 day moving average price is $341.24.

Visa (NYSE:V) last issued its earnings results on Tuesday, April 29th. The credit-card processor reported $2.76 EPS for the quarter, beating analysts’ consensus estimates of $2.68 by $0.08. Visa had a return on equity of 56.28% and a net margin of 52.86%. The firm had revenue of $9.59 billion for the quarter, compared to the consensus estimate of $9.57 billion. During the same quarter in the previous year, the company posted $2.51 earnings per share. The business’s quarterly revenue was up 9.3% compared to the same quarter last year. On average, sell-side analysts forecast that Visa will post 11.3 earnings per share for the current fiscal year.

Visa Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, June 2nd. Investors of record on Tuesday, May 13th were paid a dividend of $0.59 per share. The ex-dividend date of this dividend was Tuesday, May 13th. This represents a $2.36 annualized dividend and a yield of 0.66%. Visa’s payout ratio is 23.72%.

Insider Activity at Visa

In related news, CEO Ryan Mcinerney sold 8,630 shares of the stock in a transaction that occurred on Tuesday, July 1st. The stock was sold at an average price of $353.82, for a total transaction of $3,053,466.60. Following the completion of the sale, the chief executive officer owned 537 shares in the company, valued at $190,001.34. This represents a 94.14% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, General Counsel Julie B. Rottenberg sold 2,575 shares of the stock in a transaction that occurred on Thursday, May 1st. The shares were sold at an average price of $345.58, for a total value of $889,868.50. Following the sale, the general counsel owned 11,925 shares of the company’s stock, valued at approximately $4,121,041.50. The trade was a 17.76% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 101,108 shares of company stock worth $36,771,200 in the last 90 days. 0.13% of the stock is owned by company insiders.

Institutional Trading of Visa

Several hedge funds have recently added to or reduced their stakes in the business. Norges Bank acquired a new position in Visa in the 4th quarter valued at approximately $5,171,271,000. GAMMA Investing LLC raised its holdings in Visa by 38,416.3% in the 1st quarter. GAMMA Investing LLC now owns 14,761,375 shares of the credit-card processor’s stock valued at $5,173,271,000 after acquiring an additional 14,723,050 shares in the last quarter. Nuveen LLC acquired a new position in Visa in the 1st quarter valued at approximately $3,518,533,000. Vanguard Group Inc. raised its holdings in Visa by 4.6% in the 4th quarter. Vanguard Group Inc. now owns 159,405,343 shares of the credit-card processor’s stock valued at $50,378,465,000 after acquiring an additional 7,079,706 shares in the last quarter. Finally, Raymond James Financial Inc. acquired a new position in Visa in the 4th quarter valued at approximately $1,955,403,000. Institutional investors 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.