Visa (NYSE:V) Price Target Raised to $335.00

Visa (NYSE:V) had its price target increased by Macquarie from $300.00 to $335.00 in a report released on Wednesday, Benzinga reports. They currently have an outperform rating on the credit-card processor’s stock.

Several other brokerages have also commented on V. Monness Crespi & Hardt reissued a “neutral” rating on shares of Visa in a report on Tuesday, September 24th. JPMorgan Chase & Co. boosted their price target on shares of Visa from $290.00 to $320.00 and gave the stock an “overweight” rating in a research note on Tuesday, August 20th. Oppenheimer restated an “outperform” rating and set a $321.00 price objective (up previously from $318.00) on shares of Visa in a research report on Wednesday. BMO Capital Markets upped their target price on shares of Visa from $310.00 to $320.00 and gave the stock an “outperform” rating in a research report on Wednesday. Finally, William Blair raised Visa to a “strong-buy” rating in a research note on Tuesday, July 23rd. Four research analysts have rated the stock with a hold rating, twenty-four have assigned a buy rating and two have issued a strong buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $320.70.

Visa Stock Performance

NYSE V opened at $290.74 on Wednesday. The company’s 50 day simple moving average is $281.00 and its two-hundred day simple moving average is $273.63. The company has a debt-to-equity ratio of 0.55, a current ratio of 1.28 and a quick ratio of 1.37. Visa has a 1 year low of $239.20 and a 1 year high of $296.34. The stock has a market capitalization of $529.82 billion, a PE ratio of 29.88, a P/E/G ratio of 1.94 and a beta of 0.95.

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

Visa Increases Dividend

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

Insider Activity at Visa

In related news, CEO Ryan Mcinerney sold 8,620 shares of Visa stock in a transaction 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 sale, the chief executive officer now owns 538 shares in the company, valued at $148,687.06. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. 0.19% of the stock is owned by corporate insiders.

Institutional Trading of Visa

Several institutional investors and hedge funds have recently bought and sold shares of the stock. Costello Asset Management INC raised its position in shares of Visa by 11.3% in the 3rd quarter. Costello Asset Management INC now owns 8,455 shares of the credit-card processor’s stock worth $2,325,000 after acquiring an additional 855 shares in the last quarter. Covestor Ltd raised its holdings in Visa by 4.6% in the third quarter. Covestor Ltd now owns 1,220 shares of the credit-card processor’s stock worth $336,000 after purchasing an additional 54 shares in the last quarter. Troy Asset Management Ltd lifted its position in Visa by 2.7% during the third quarter. Troy Asset Management Ltd now owns 1,613,006 shares of the credit-card processor’s stock valued at $443,496,000 after buying an additional 42,987 shares during the period. Mesirow Financial Investment Management Inc. lifted its position in Visa by 215.4% during the third quarter. Mesirow Financial Investment Management Inc. now owns 59,774 shares of the credit-card processor’s stock valued at $16,439,000 after buying an additional 40,824 shares during the period. Finally, Carr Financial Group Corp grew its position in shares of Visa by 3.2% in the 3rd quarter. Carr Financial Group Corp now owns 1,656 shares of the credit-card processor’s stock worth $455,000 after buying an additional 51 shares during the period. 82.15% of the stock is currently owned by hedge funds and other institutional investors.

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.