Visa (NYSE:V) Raised to “Strong-Buy” at Clear Str

Visa (NYSE:VGet Free Report) was upgraded by Clear Str to a “strong-buy” rating in a research report issued on Thursday,Zacks.com reports.

A number of other research analysts have also weighed in on the company. Morgan Stanley reissued an “overweight” rating and issued a $415.00 price objective on shares of Visa in a report on Wednesday, April 29th. Cantor Fitzgerald restated an “overweight” rating and set a $400.00 target price on shares of Visa in a research report on Wednesday, April 29th. UBS Group upped their price objective on shares of Visa from $390.00 to $410.00 and gave the stock a “buy” rating in a research report on Wednesday, April 29th. Sanford C. Bernstein reaffirmed an “outperform” rating and issued a $450.00 price target on shares of Visa in a research note on Tuesday, June 2nd. Finally, Truist Financial set a $371.00 target price on Visa and gave the stock a “buy” rating in a research note on Tuesday, May 12th. Seven investment analysts have rated the stock with a Strong Buy rating, eighteen have issued a Buy rating and one has given a Hold rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Buy” and an average target price of $398.36.

Read Our Latest Report on V

Visa Stock Down 1.8%

Shares of V opened at $358.51 on Thursday. The company has a current ratio of 1.09, a quick ratio of 1.09 and a debt-to-equity ratio of 0.64. The firm has a market capitalization of $643.08 billion, a P/E ratio of 31.23, a P/E/G ratio of 1.95 and a beta of 0.75. The firm has a fifty day moving average price of $334.41 and a 200-day moving average price of $325.20. Visa has a 12-month low of $293.89 and a 12-month high of $365.14.

Visa (NYSE:VGet Free Report) last released its quarterly earnings data on Tuesday, April 28th. The credit-card processor reported $3.31 earnings per share for the quarter, topping analysts’ consensus estimates of $3.10 by $0.21. The company had revenue of $11.23 billion during the quarter, compared to analyst estimates of $10.75 billion. Visa had a net margin of 51.68% and a return on equity of 65.00%. The firm’s revenue for the quarter was up 17.1% compared to the same quarter last year. During the same period in the prior year, the firm earned $2.76 earnings per share. Equities research analysts expect that Visa will post 13.11 earnings per share for the current year.

Visa announced that its board has initiated a stock buyback program on Tuesday, April 28th that permits the company to buyback $20.00 billion in outstanding shares. This buyback authorization permits the credit-card processor to purchase up to 3.6% of its shares through open market purchases. Shares buyback programs are often a sign that the company’s board of directors believes its shares are undervalued.

Insider Transactions at Visa

In other Visa news, CEO Ryan Mcinerney sold 10,490 shares of the business’s stock in a transaction dated Wednesday, July 1st. The stock was sold at an average price of $343.99, for a total transaction of $3,608,455.10. Following the completion of the sale, the chief executive officer owned 15,174 shares of the company’s stock, valued at approximately $5,219,704.26. The trade was a 40.87% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, General Counsel Julie B. Rottenberg sold 2,027 shares of the firm’s stock in a transaction on Thursday, July 2nd. The shares were sold at an average price of $360.00, for a total transaction of $729,720.00. Following the completion of the transaction, the general counsel directly owned 18,404 shares in the company, valued at approximately $6,625,440. This represents a 9.92% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold a total of 75,581 shares of company stock worth $25,627,975 over the last ninety days. 0.12% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of the business. Ballast Inc. increased its stake in shares of Visa by 35.2% in the second quarter. Ballast Inc. now owns 6,234 shares of the credit-card processor’s stock worth $2,139,000 after buying an additional 1,623 shares during the last quarter. Regent Peak Wealth Advisors LLC lifted its holdings in Visa by 2.4% during the 2nd quarter. Regent Peak Wealth Advisors LLC now owns 5,336 shares of the credit-card processor’s stock worth $1,831,000 after buying an additional 123 shares during the last quarter. Hyperion Asset Management Ltd grew its position in shares of Visa by 19.9% in the 2nd quarter. Hyperion Asset Management Ltd now owns 257,309 shares of the credit-card processor’s stock worth $88,280,000 after acquiring an additional 42,660 shares in the last quarter. Northside Capital Management LLC grew its position in shares of Visa by 9.5% in the 2nd quarter. Northside Capital Management LLC now owns 53,200 shares of the credit-card processor’s stock worth $18,253,000 after acquiring an additional 4,613 shares in the last quarter. Finally, Investors Research Corp increased its holdings in shares of Visa by 301.8% in the 2nd quarter. Investors Research Corp now owns 1,595 shares of the credit-card processor’s stock valued at $547,000 after acquiring an additional 1,198 shares during the last quarter. Hedge funds and other institutional investors own 82.15% of the company’s stock.

Key Visa News

Here are the key news stories impacting Visa this week:

Visa Company Profile

(Get Free Report)

Visa Inc is a global payments technology company that facilitates electronic funds transfers and digital commerce by connecting consumers, merchants, financial institutions and governments. The firm operates one of the world’s largest payment networks, providing processing, authorization, clearing and settlement services for credit, debit and prepaid card transactions. Visa’s network-based model enables partner banks and other issuers to offer branded payment products while Visa focuses on the infrastructure, standards and technologies that move money securely and efficiently around the world.

Visa’s product and service portfolio includes card-based payment products for consumers and businesses, real-time push-payment capabilities, tokenization and authentication services, fraud and risk-management tools, data analytics and APIs for fintech and merchant integration.

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Analyst Recommendations for Visa (NYSE:V)

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