Visa (NYSE:V) Price Target Raised to $368.00

Visa (NYSE:V) had its price objective lifted by Piper Sandler from $322.00 to $368.00 in a research report sent to investors on Friday morning, Marketbeat Ratings reports. Piper Sandler currently has an overweight rating on the credit-card processor’s stock.

A number of other equities research analysts have also issued reports on the stock. Barclays upped their target price on shares of Visa from $319.00 to $347.00 and gave the stock an “overweight” rating in a report on Monday, November 4th. Royal Bank of Canada increased their price objective on shares of Visa from $311.00 to $322.00 and gave the company an “outperform” rating in a report on Wednesday, October 30th. Citigroup boosted their target price on Visa from $326.00 to $354.00 and gave the stock a “buy” rating in a report on Tuesday, January 14th. Bank of America increased their price target on Visa from $314.00 to $331.00 and gave the company a “neutral” rating in a report on Wednesday. Finally, Deutsche Bank Aktiengesellschaft upped their target price on Visa from $300.00 to $340.00 and gave the company a “buy” rating in a report on Wednesday, October 30th. Four investment analysts have rated the stock with a hold rating, twenty-four have issued a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat.com, Visa currently has a consensus rating of “Moderate Buy” and a consensus price target of $334.58.

Visa Trading Up 0.6 %

Shares of Visa stock opened at $330.20 on Friday. The company has a current ratio of 1.28, a quick ratio of 1.28 and a debt-to-equity ratio of 0.55. Visa has a twelve month low of $252.70 and a twelve month high of $331.09. The firm has a market capitalization of $615.11 billion, a PE ratio of 33.94, a P/E/G ratio of 2.17 and a beta of 0.96. The firm’s 50-day moving average price is $314.54 and its 200 day moving average price is $289.98.

Visa (NYSE:V) last released its earnings results on Tuesday, October 29th. The credit-card processor reported $2.71 earnings per share for the quarter, beating the consensus estimate of $2.58 by $0.13. Visa had a return on equity of 53.16% and a net margin of 54.96%. The business had revenue of $9.62 billion for the quarter, compared to the consensus estimate of $9.49 billion. During the same quarter last year, the business posted $2.33 earnings per share. The business’s quarterly revenue was up 11.7% compared to the same quarter last year. On average, sell-side analysts predict that Visa will post 11.19 EPS for the current fiscal year.

Visa Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, December 2nd. Investors of record on Tuesday, November 12th were paid a dividend of $0.59 per share. This is an increase from Visa’s previous quarterly dividend of $0.52. This represents a $2.36 annualized dividend and a yield of 0.71%. The ex-dividend date of this dividend was Tuesday, November 12th. Visa’s dividend payout ratio is presently 24.25%.

Insider Buying and Selling at Visa

In related news, insider Paul D. Fabara sold 2,171 shares of the company’s stock in a transaction that occurred on Friday, November 22nd. The shares were sold at an average price of $307.97, for a total transaction of $668,602.87. Following the sale, the insider now directly owns 17,894 shares in the company, valued at approximately $5,510,815.18. This represents a 10.82 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Ryan Mcinerney sold 8,620 shares of Visa stock in a transaction that occurred on Thursday, January 2nd. The stock was sold at an average price of $317.78, for a total transaction of $2,739,263.60. The disclosure for this sale can be found here. 0.13% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in V. State Street Corp boosted its stake in Visa by 4.5% in the third quarter. State Street Corp now owns 76,610,942 shares of the credit-card processor’s stock valued at $21,064,179,000 after acquiring an additional 3,327,977 shares in the last quarter. FMR LLC grew its stake in Visa by 6.1% during the 3rd quarter. FMR LLC now owns 57,111,843 shares of the credit-card processor’s stock worth $15,702,901,000 after buying an additional 3,265,518 shares during the last quarter. Geode Capital Management LLC increased its position in Visa by 7.7% during the third quarter. Geode Capital Management LLC now owns 38,655,250 shares of the credit-card processor’s stock worth $10,601,135,000 after buying an additional 2,772,549 shares during the period. Legal & General Group Plc lifted its stake in Visa by 2.2% in the second quarter. Legal & General Group Plc now owns 14,416,394 shares of the credit-card processor’s stock valued at $3,783,857,000 after buying an additional 312,286 shares during the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its holdings in shares of Visa by 1.1% in the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 11,597,969 shares of the credit-card processor’s stock valued at $3,188,862,000 after acquiring an additional 123,927 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.