Wedbush Weighs in on Visa Inc.’s Q3 2024 Earnings (NYSE:V)

Visa Inc. (NYSE:V) – Stock analysts at Wedbush issued their Q3 2024 EPS estimates for Visa in a note issued to investors on Wednesday, November 8th. Wedbush analyst M. Katri forecasts that the credit-card processor will post earnings per share of $2.28 for the quarter. Wedbush has a “Outperform” rating and a $270.00 price target on the stock. The consensus estimate for Visa’s current full-year earnings is $9.87 per share. Wedbush also issued estimates for Visa’s FY2025 earnings at $9.72 EPS.

V has been the subject of a number of other reports. StockNews.com assumed coverage on shares of Visa in a research report on Thursday, October 5th. They set a “buy” rating for the company. Barclays decreased their price target on shares of Visa from $285.00 to $278.00 and set an “overweight” rating for the company in a research note on Monday, October 30th. Jefferies Financial Group boosted their price objective on shares of Visa from $270.00 to $280.00 and gave the stock a “buy” rating in a research report on Wednesday, July 19th. KeyCorp boosted their price objective on shares of Visa from $265.00 to $275.00 and gave the stock an “overweight” rating in a research report on Wednesday, October 18th. Finally, Susquehanna upped their price target on shares of Visa from $266.00 to $300.00 in a research report on Wednesday, July 26th. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and fifteen have issued a buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $275.67.

Visa Price Performance

Shares of V stock opened at $245.25 on Friday. The company has a debt-to-equity ratio of 0.55, a current ratio of 1.45 and a quick ratio of 1.49. The firm’s 50-day moving average is $238.35 and its two-hundred day moving average is $235.57. Visa has a 12 month low of $202.13 and a 12 month high of $250.06. The company has a market capitalization of $456.62 billion, a PE ratio of 29.58, a price-to-earnings-growth ratio of 1.61 and a beta of 0.95.

Visa (NYSE:V) last posted its quarterly earnings results on Tuesday, October 24th. The credit-card processor reported $2.33 earnings per share for the quarter, topping the consensus estimate of $2.23 by $0.10. The firm had revenue of $8.61 billion for the quarter, compared to the consensus estimate of $8.56 billion. Visa had a net margin of 52.90% and a return on equity of 50.13%. The company’s revenue for the quarter was up 10.6% on a year-over-year basis. During the same period last year, the firm posted $1.93 earnings per share.

Hedge Funds Weigh In On Visa

A number of hedge funds have recently added to or reduced their stakes in V. Bank Julius Baer & Co. Ltd Zurich boosted its holdings in shares of Visa by 107,990.7% during the second quarter. Bank Julius Baer & Co. Ltd Zurich now owns 1,998,628,576 shares of the credit-card processor’s stock valued at $474,634,314,000 after acquiring an additional 1,996,779,546 shares during the period. Moneta Group Investment Advisors LLC raised its holdings in Visa by 116,608.6% during the 4th quarter. Moneta Group Investment Advisors LLC now owns 24,504,130 shares of the credit-card processor’s stock worth $5,090,978,000 after buying an additional 24,483,134 shares during the period. Norges Bank acquired a new stake in Visa during the 4th quarter worth about $3,067,232,000. Morgan Stanley increased its holdings in shares of Visa by 13.0% in the 4th quarter. Morgan Stanley now owns 51,122,866 shares of the credit-card processor’s stock valued at $10,621,287,000 after purchasing an additional 5,864,340 shares during the period. Finally, Capital World Investors increased its holdings in shares of Visa by 50.8% in the 2nd quarter. Capital World Investors now owns 16,012,583 shares of the credit-card processor’s stock valued at $3,802,668,000 after purchasing an additional 5,391,512 shares during the period. Institutional investors and hedge funds own 81.35% of the company’s stock.

Insider Buying and Selling

In related news, Chairman Alfred F. Kelly, Jr. sold 40,000 shares of the firm’s stock in a transaction that occurred on Wednesday, November 1st. The shares were sold at an average price of $236.14, for a total value of $9,445,600.00. Following the sale, the chairman now directly owns 139,854 shares of the company’s stock, valued at $33,025,123.56. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In related news, insider Rajat Taneja sold 15,800 shares of Visa stock in a transaction on Wednesday, September 13th. The shares were sold at an average price of $250.01, for a total value of $3,950,158.00. Following the completion of the sale, the insider now owns 232,112 shares in the company, valued at $58,030,321.12. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Chairman Alfred F. Kelly, Jr. sold 40,000 shares of Visa stock in a transaction on Wednesday, November 1st. The stock was sold at an average price of $236.14, for a total transaction of $9,445,600.00. Following the completion of the sale, the chairman now owns 139,854 shares of the company’s stock, valued at approximately $33,025,123.56. The disclosure for this sale can be found here. Over the last three months, insiders have sold 72,100 shares of company stock valued at $17,368,639. Insiders own 0.22% of the company’s stock.

Visa Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, December 1st. Investors of record on Thursday, November 9th will be given a $0.52 dividend. The ex-dividend date is Wednesday, November 8th. This is a boost from Visa’s previous quarterly dividend of $0.45. This represents a $2.08 annualized dividend and a dividend yield of 0.85%. Visa’s dividend payout ratio (DPR) is currently 25.09%.

About Visa

Visa Inc operates as a payments technology company worldwide. 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, click to pay; Visa Direct, a real-time payments network; Visa B2B Connect, a multilateral B2B cross-border payments network; Visa Treasury as a Service, a cross-border consumer payments business; 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.