Visa (NYSE:V) Receives New Coverage from Analysts at Oppenheimer

Oppenheimer assumed coverage on shares of Visa (NYSE:V) in a research note released on Tuesday, Marketbeat Ratings reports. The brokerage issued an outperform rating and a $318.00 price target on the credit-card processor’s stock.

Other equities analysts also recently issued reports about the stock. Keefe, Bruyette & Woods upgraded shares of Visa from a moderate buy rating to a strong-buy rating in a research note on Tuesday, September 24th. StockNews.com upgraded shares of Visa from a hold rating to a buy rating in a report on Friday, August 9th. Monness Crespi & Hardt reiterated a neutral rating on shares of Visa in a research note on Tuesday, September 24th. The Goldman Sachs Group reissued a buy rating and issued a $317.00 price objective on shares of Visa in a research report on Thursday, September 12th. Finally, William Blair raised shares of Visa to a strong-buy rating in a report on Tuesday, July 23rd. Six equities research analysts have rated the stock with a hold rating, twenty-three have given a buy rating and two have given a strong buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of Moderate Buy and an average price target of $312.04.

Visa Stock Up 0.4 %

Visa stock opened at $277.89 on Tuesday. The stock has a market capitalization of $506.40 billion, a PE ratio of 31.05, a price-to-earnings-growth ratio of 1.92 and a beta of 0.96. Visa has a twelve month low of $228.03 and a twelve month high of $293.07. The company has a 50 day moving average of $273.00 and a 200-day moving average of $273.07. The company has a quick ratio of 1.37, a current ratio of 1.37 and a debt-to-equity ratio of 0.54.

Visa (NYSE:V) last issued its quarterly earnings results on Tuesday, July 23rd. The credit-card processor reported $2.42 EPS for the quarter, meeting analysts’ consensus estimates of $2.42. Visa had a return on equity of 51.94% and a net margin of 54.72%. The company had revenue of $8.90 billion for the quarter, compared to analyst estimates of $8.92 billion. During the same period in the previous year, the company posted $2.16 earnings per share. The company’s quarterly revenue was up 9.6% compared to the same quarter last year. On average, equities research analysts anticipate that Visa will post 9.92 EPS for the current fiscal year.

Visa Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Tuesday, September 3rd. Stockholders of record on Friday, August 9th were given a $0.52 dividend. The ex-dividend date of this dividend was Friday, August 9th. This represents a $2.08 dividend on an annualized basis and a dividend yield of 0.75%. Visa’s payout ratio is 23.24%.

Insider Buying and Selling

In related news, CEO Ryan Mcinerney sold 8,620 shares of the company’s stock in a transaction dated Tuesday, September 3rd. The shares were sold at an average price of $276.37, for a total transaction of $2,382,309.40. Following the completion of the sale, the chief executive officer now owns 538 shares of the company’s stock, valued at $148,687.06. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. 0.19% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Visa

Hedge funds and other institutional investors have recently modified their holdings of the business. Livelsberger Financial Advisory bought a new stake in Visa during the 4th quarter worth $25,000. Westend Capital Management LLC bought a new position in Visa in the 1st quarter valued at approximately $25,000. POM Investment Strategies LLC raised its stake in shares of Visa by 970.0% during the second quarter. POM Investment Strategies LLC now owns 107 shares of the credit-card processor’s stock valued at $28,000 after acquiring an additional 97 shares during the last quarter. Frank Rimerman Advisors LLC acquired a new stake in Visa in the fourth quarter valued at $33,000. Finally, TruNorth Capital Management LLC raised its position in Visa by 211.9% during the 2nd quarter. TruNorth Capital Management LLC now owns 131 shares of the credit-card processor’s stock worth $34,000 after purchasing an additional 89 shares during the last quarter. Institutional investors own 82.15% of the company’s stock.

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.