Visa (NYSE:V) Price Target Raised to $384.00

Visa (NYSE:V) had its price target lifted by Piper Sandler from $383.00 to $384.00 in a research note released on Wednesday,Benzinga reports. They currently have an overweight rating on the credit-card processor’s stock.

Other research analysts also recently issued reports about the stock. UBS Group boosted their target price on shares of Visa from $350.00 to $400.00 and gave the company a “buy” rating in a research report on Friday, January 31st. Wells Fargo & Company boosted their price objective on Visa from $360.00 to $395.00 and gave the company an “overweight” rating in a report on Friday, January 31st. Oppenheimer reaffirmed an “outperform” rating on shares of Visa in a report on Thursday, February 13th. StockNews.com downgraded Visa from a “buy” rating to a “hold” rating in a report on Wednesday, April 16th. Finally, Bank of America raised their price objective on shares of Visa from $331.00 to $363.00 and gave the stock a “neutral” rating in a research note on Friday, January 31st. Seven analysts have rated the stock with a hold rating, twenty have given a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, Visa currently has a consensus rating of “Moderate Buy” and a consensus target price of $362.38.

Visa Trading Up 1.5 %

Shares of NYSE:V opened at $347.66 on Wednesday. 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 52-week low of $252.70 and a 52-week high of $366.54. The stock has a market cap of $645.87 billion, a price-to-earnings ratio of 35.05, a PEG ratio of 2.33 and a beta of 0.94. The business has a 50-day moving average price of $337.61 and a 200-day moving average price of $324.57.

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

Visa Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, June 2nd. Stockholders of record on Tuesday, May 13th will be given a $0.59 dividend. This represents a $2.36 dividend on an annualized basis 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 23.79%.

Insider Transactions at Visa

In other Visa news, CEO Ryan Mcinerney sold 8,620 shares of the firm’s stock in a transaction on Thursday, May 1st. The stock was sold at an average price of $345.58, for a total value of $2,978,899.60. Following the completion of the sale, the chief executive officer now directly owns 537 shares of the company’s stock, valued at $185,576.46. This trade represents a 94.14 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CAO Peter M. Andreski sold 2,332 shares of Visa stock in a transaction on Friday, February 7th. The stock was sold at an average price of $349.62, for a total value of $815,313.84. Following the transaction, the chief accounting officer now owns 4,488 shares in the company, 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. Over the last three months, insiders have sold 154,400 shares of company stock valued at $52,711,258. Corporate insiders own 0.13% of the company’s stock.

Institutional Trading of Visa

Several institutional investors have recently made changes to their positions in V. Norges Bank purchased a new stake in Visa in the fourth quarter valued at $5,171,271,000. GAMMA Investing LLC increased its position in shares of Visa by 38,416.3% during the 1st quarter. GAMMA Investing LLC now owns 14,761,375 shares of the credit-card processor’s stock worth $5,173,271,000 after purchasing an additional 14,723,050 shares during the last quarter. Vanguard Group Inc. raised its holdings 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 buying an additional 7,079,706 shares during the period. Raymond James Financial Inc. acquired a new position in Visa in the fourth quarter valued at about $1,955,403,000. Finally, Proficio Capital Partners LLC boosted its stake in Visa by 17,018.7% during the fourth quarter. Proficio Capital Partners LLC now owns 3,949,118 shares of the credit-card processor’s stock worth $1,248,079,000 after buying an additional 3,926,049 shares during the period. Hedge funds and other institutional investors own 82.15% of the company’s stock.

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.