Macquarie Cuts Visa (NYSE:V) Price Target to $380.00

Visa (NYSE:V) had its price target lowered by Macquarie from $400.00 to $380.00 in a report published on Wednesday morning,Benzinga reports. Macquarie currently has an outperform rating on the credit-card processor’s stock.

V has been the subject of several other research reports. Evercore ISI assumed coverage on Visa in a report on Wednesday, April 9th. They issued an “in-line” rating and a $330.00 price target for the company. Barclays upped their target price on Visa from $361.00 to $396.00 and gave the company an “overweight” rating in a research note on Monday, February 3rd. Bank of America lifted their price objective on Visa from $331.00 to $363.00 and gave the company a “neutral” rating in a report on Friday, January 31st. Piper Sandler raised their target price on Visa from $383.00 to $384.00 and gave the stock an “overweight” rating in a research report on Wednesday. Finally, Raymond James reaffirmed an “outperform” rating and issued a $393.00 price target (up previously from $374.00) on shares of Visa in a research note on Friday, January 31st. Seven investment analysts have rated the stock with a hold rating, twenty have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $362.38.

Visa Stock Performance

NYSE:V opened at $347.66 on Wednesday. The firm has a market capitalization of $645.87 billion, a PE ratio of 35.05, a PEG ratio of 2.33 and a beta of 0.94. Visa has a 1 year low of $252.70 and a 1 year high of $366.54. The company has a current ratio of 1.12, a quick ratio of 1.12 and a debt-to-equity ratio of 0.45. The firm’s fifty day simple moving average is $337.61 and its 200 day simple moving average is $324.57.

Visa (NYSE:V) last announced its earnings results on Tuesday, April 29th. The credit-card processor reported $2.76 earnings per share for the quarter, beating the consensus estimate of $2.68 by $0.08. The firm had revenue of $9.59 billion during the quarter, compared to the consensus estimate of $9.57 billion. Visa had a return on equity of 54.79% and a net margin of 54.27%. The firm’s revenue for the quarter was up 9.3% compared to the same quarter last year. During the same quarter in the prior year, the company earned $2.51 EPS. On average, sell-side analysts anticipate that Visa will post 11.3 EPS for the current year.

Visa Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, June 2nd. Stockholders of record on Tuesday, May 13th will be paid a dividend of $0.59 per share. This represents a $2.36 annualized dividend and a dividend yield of 0.68%. The ex-dividend date of this dividend is Tuesday, May 13th. Visa’s dividend payout ratio (DPR) is presently 23.79%.

Insider Buying and Selling

In other news, CEO Ryan Mcinerney sold 8,620 shares of Visa stock in a transaction on Monday, March 3rd. The shares were sold at an average price of $363.00, for a total transaction of $3,129,060.00. Following the transaction, the chief executive officer now directly owns 537 shares of the company’s stock, valued at $194,931. This trade represents a 94.14 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CAO Peter M. Andreski sold 2,332 shares of the company’s stock in a transaction on Friday, February 7th. The shares were sold at an average price of $349.62, for a total transaction of $815,313.84. Following the completion of the sale, the chief accounting officer now owns 4,488 shares of the company’s stock, valued at approximately $1,569,094.56. This represents a 34.19 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 154,400 shares of company stock worth $52,711,258 over the last three months. 0.13% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Norges Bank bought a new stake in Visa during the 4th quarter worth approximately $5,171,271,000. GAMMA Investing LLC increased its position in shares of Visa by 38,416.3% during the first quarter. GAMMA Investing LLC now owns 14,761,375 shares of the credit-card processor’s stock worth $5,173,271,000 after acquiring an additional 14,723,050 shares in the last quarter. Vanguard Group Inc. lifted its position 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. Raymond James Financial Inc. acquired a new position in Visa in the 4th quarter worth $1,955,403,000. Finally, Proficio Capital Partners LLC increased its holdings in Visa by 17,018.7% during the 4th quarter. Proficio Capital Partners LLC now owns 3,949,118 shares of the credit-card processor’s stock worth $1,248,079,000 after purchasing an additional 3,926,049 shares in the last quarter. 82.15% of the stock is currently owned by 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.