Visa’s (V) Buy (B) Rating Reiterated at Weiss Ratings

Weiss Ratings reissued their buy (b) rating on shares of Visa (NYSE:V) in a research report sent to investors on Wednesday,Weiss Ratings reports.

Several other research firms have also recently weighed in on V. UBS Group reissued a “buy” rating and issued a $415.00 price objective (up previously from $405.00) on shares of Visa in a research report on Wednesday, July 30th. Erste Group Bank cut Visa from a “buy” rating to a “hold” rating in a research report on Monday, September 22nd. Deutsche Bank Aktiengesellschaft assumed coverage on Visa in a research report on Thursday, July 17th. They set a “buy” rating and a $410.00 price target on the stock. Oppenheimer upped their price target on Visa from $390.00 to $391.00 and gave the company an “outperform” rating in a research report on Wednesday, July 2nd. Finally, Barclays reaffirmed an “overweight” rating and set a $408.00 price target (up previously from $396.00) on shares of Visa in a research report on Thursday, July 31st. One research analyst has rated the stock with a Strong Buy rating, twenty-one have given a Buy rating and five have given a Hold rating to the company. According to data from MarketBeat, Visa currently has a consensus rating of “Moderate Buy” and an average target price of $389.00.

Visa Stock Down 1.0%

Shares of NYSE:V opened at $343.63 on Wednesday. The stock has a market cap of $629.79 billion, a price-to-earnings ratio of 33.56, a PEG ratio of 2.06 and a beta of 0.90. The company has a quick ratio of 1.12, a current ratio of 1.12 and a debt-to-equity ratio of 0.52. Visa has a 12-month low of $275.37 and a 12-month high of $375.51. The business’s 50 day moving average is $343.77 and its 200 day moving average is $346.97.

Visa (NYSE:V) last posted its quarterly earnings data on Tuesday, July 29th. The credit-card processor reported $2.98 earnings per share for the quarter, topping the consensus estimate of $2.85 by $0.13. Visa had a return on equity of 58.93% and a net margin of 52.16%.The business had revenue of $10.17 billion for the quarter, compared to analysts’ expectations of $9.82 billion. During the same quarter in the previous year, the firm earned $2.42 earnings per share. The business’s revenue was up 14.3% on a year-over-year basis. On average, sell-side analysts forecast that Visa will post 11.3 earnings per share for the current fiscal year.

Visa Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Tuesday, September 2nd. Stockholders of record on Tuesday, August 12th were given a $0.59 dividend. The ex-dividend date of this dividend was Tuesday, August 12th. This represents a $2.36 annualized dividend and a dividend yield of 0.7%. Visa’s dividend payout ratio is currently 23.05%.

Insider Activity at Visa

In other news, CEO Ryan Mcinerney sold 10,485 shares of the stock in a transaction that occurred on Wednesday, October 1st. The stock was sold at an average price of $342.30, for a total value of $3,589,015.50. Following the completion of the transaction, the chief executive officer owned 537 shares of the company’s stock, valued at approximately $183,815.10. This represents a 95.13% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, General Counsel Julie B. Rottenberg sold 2,027 shares of the stock in a transaction that occurred on Monday, August 18th. The stock was sold at an average price of $344.02, for a total value of $697,328.54. Following the completion of the transaction, the general counsel directly owned 11,925 shares of the company’s stock, valued at $4,102,438.50. This represents a 14.53% decrease in their position. The disclosure for this sale can be found here. 0.13% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Keystone Global Partners LLC bought a new position in Visa during the 1st quarter valued at approximately $26,000. Family Legacy Financial Solutions LLC bought a new stake in shares of Visa in the 2nd quarter worth $28,000. von Borstel & Associates Inc. bought a new stake in shares of Visa in the 1st quarter worth $27,000. Harbor Asset Planning Inc. bought a new stake in shares of Visa in the 2nd quarter worth $29,000. Finally, Sagard Holdings Management Inc. bought a new stake in shares of Visa in the 2nd quarter worth $31,000. 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.