Visa (NYSE:V) Price Target Raised to $380.00

Visa (NYSE:V) had its price target lifted by BMO Capital Markets from $370.00 to $380.00 in a research note issued to investors on Wednesday morning,Benzinga reports. They currently have an outperform rating on the credit-card processor’s stock.

V has been the topic of several other reports. Citigroup reiterated a “neutral” rating on shares of Visa in a report on Thursday, February 13th. Piper Sandler lifted their target price on Visa from $383.00 to $384.00 and gave the stock an “overweight” rating in a report on Wednesday. Barclays increased their price target on Visa from $361.00 to $396.00 and gave the stock an “overweight” rating in a report on Monday, February 3rd. Evercore ISI started coverage on Visa in a report on Wednesday, April 9th. They set an “in-line” rating and a $330.00 price objective on the stock. Finally, Oppenheimer reissued an “outperform” rating on shares of Visa in a research note on Thursday, February 13th. Seven investment analysts have rated the stock with a hold rating, twenty have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $362.38.

Visa Stock Up 1.5 %

Shares of Visa stock opened at $347.66 on Wednesday. The business has a fifty day simple moving average of $337.61 and a 200 day simple moving average of $324.57. The stock has a market cap of $645.87 billion, a PE ratio of 35.05, a price-to-earnings-growth ratio of 2.33 and a beta of 0.94. The company has a quick ratio of 1.12, a current ratio of 1.12 and a debt-to-equity ratio of 0.45. Visa has a 12 month low of $252.70 and a 12 month high of $366.54.

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

Visa Announces Dividend

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

Insiders Place Their Bets

In related news, insider Tullier Kelly Mahon sold 33,741 shares of the business’s stock in a transaction that occurred on Friday, February 7th. The stock was sold at an average price of $349.77, for a total transaction of $11,801,589.57. Following the transaction, the insider now directly owns 36,566 shares of the company’s stock, valued at approximately $12,789,689.82. The trade was a 47.99 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Ryan Mcinerney sold 8,620 shares of Visa stock in a transaction on Monday, February 3rd. The stock was sold at an average price of $340.00, for a total transaction of $2,930,800.00. The disclosure for this sale can be found here. Over the last three months, insiders have sold 154,400 shares of company stock valued at $52,711,258. 0.13% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the stock. Decker Retirement Planning Inc. bought a new position in shares of Visa during the fourth quarter worth approximately $26,000. Bradley & Co. Private Wealth Management LLC acquired a new stake in shares of Visa during the fourth quarter worth $27,000. von Borstel & Associates Inc. bought a new stake in shares of Visa in the first quarter valued at about $27,000. POM Investment Strategies LLC grew its stake in shares of Visa by 48.5% in the fourth quarter. POM Investment Strategies LLC now owns 98 shares of the credit-card processor’s stock valued at $31,000 after acquiring an additional 32 shares in the last quarter. Finally, Modus Advisors LLC bought a new position in Visa during the fourth quarter worth about $32,000. 82.15% of the stock is owned by institutional investors.

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.