Visa (NYSE:V) Shares Up 0.6% Following Analyst Upgrade

Shares of Visa Inc. (NYSE:V) rose 0.6% during trading on Wednesday after Susquehanna raised their price target on the stock from $339.00 to $375.00. Susquehanna currently has a positive rating on the stock. Visa traded as high as $315.55 and last traded at $314.41. Approximately 1,214,816 shares changed hands during trading, a decline of 82% from the average daily volume of 6,895,596 shares. The stock had previously closed at $312.38.

A number of other brokerages also recently weighed in on V. Compass Point started coverage on Visa in a report on Wednesday, September 4th. They issued a “buy” rating and a $319.00 target price for the company. Piper Sandler lifted their target price on Visa from $319.00 to $322.00 and gave the stock an “overweight” rating in a report on Wednesday, October 30th. Bank of America lifted their target price on Visa from $279.00 to $308.00 and gave the stock a “neutral” rating in a report on Tuesday, September 17th. BNP Paribas upgraded Visa from a “neutral” rating to an “outperform” rating and set a $325.00 target price for the company in a report on Tuesday, September 3rd. Finally, BMO Capital Markets lifted their target price on Visa from $310.00 to $320.00 and gave the stock an “outperform” rating in a report on Wednesday, October 30th. Four equities research analysts have rated the stock with a hold rating, twenty-five have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat, Visa has a consensus rating of “Moderate Buy” and a consensus price target of $324.74.

Insider Activity at Visa

In other Visa news, insider Paul D. Fabara sold 2,171 shares of the company’s stock in a transaction dated Friday, November 22nd. The stock was sold at an average price of $307.97, for a total value of $668,602.87. Following the transaction, the insider now directly owns 17,894 shares in the company, valued at $5,510,815.18. This represents a 10.82 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 0.19% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Visa

Institutional investors have recently modified their holdings of the company. Peterson Financial Group Inc. bought a new position in shares of Visa during the 3rd quarter valued at about $26,000. POM Investment Strategies LLC increased its position in shares of Visa by 970.0% during the 2nd quarter. POM Investment Strategies LLC now owns 107 shares of the credit-card processor’s stock valued at $28,000 after purchasing an additional 97 shares during the last quarter. Reston Wealth Management LLC bought a new position in shares of Visa during the 3rd quarter valued at about $31,000. TruNorth Capital Management LLC increased its position in shares of Visa by 211.9% during the 2nd quarter. TruNorth Capital Management LLC now owns 131 shares of the credit-card processor’s stock valued at $34,000 after purchasing an additional 89 shares during the last quarter. Finally, CarsonAllaria Wealth Management Ltd. bought a new position in shares of Visa during the 2nd quarter valued at about $35,000. 82.15% of the stock is currently owned by institutional investors.

Visa Trading Up 0.5 %

The firm has a 50-day moving average of $297.08 and a 200-day moving average of $280.24. The company has a debt-to-equity ratio of 0.55, a quick ratio of 1.28 and a current ratio of 1.28. The firm has a market capitalization of $584.62 billion, a P/E ratio of 32.31, a price-to-earnings-growth ratio of 2.07 and a beta of 0.96.

Visa (NYSE:V) last posted its quarterly earnings results on Tuesday, October 29th. The credit-card processor reported $2.71 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.58 by $0.13. Visa had a return on equity of 53.16% and a net margin of 54.96%. The business had revenue of $9.62 billion for the quarter, compared to analyst estimates of $9.49 billion. During the same period last year, the company earned $2.33 EPS. Visa’s revenue for the quarter was up 11.7% compared to the same quarter last year. On average, equities research analysts anticipate that Visa Inc. will post 11.19 EPS for the current fiscal year.

Visa Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, December 2nd. Investors of record on Tuesday, November 12th were given a dividend of $0.59 per share. This represents a $2.36 annualized dividend and a yield of 0.75%. This is a positive change from Visa’s previous quarterly dividend of $0.52. The ex-dividend date of this dividend was Tuesday, November 12th. Visa’s dividend payout ratio (DPR) is presently 24.25%.

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.