Visa (NYSE:V) Price Target Raised to $315.00

Visa (NYSE:V) had its price target boosted by Royal Bank of Canada from $309.00 to $315.00 in a report released on Wednesday, Benzinga reports. The firm currently has an outperform rating on the credit-card processor’s stock.

Several other analysts have also issued reports on V. Wedbush upped their target price on Visa from $280.00 to $300.00 and gave the stock an outperform rating in a research note on Wednesday. TD Cowen started coverage on Visa in a research note on Thursday, April 11th. They issued a buy rating and a $320.00 target price for the company. Citigroup upped their target price on Visa from $314.00 to $321.00 and gave the stock a buy rating in a research note on Wednesday. UBS Group upped their target price on Visa from $315.00 to $325.00 and gave the stock a buy rating in a research note on Wednesday. Finally, Wells Fargo & Company upped their target price on Visa from $300.00 to $325.00 and gave the stock an overweight rating in a research note on Wednesday, March 6th. Five research analysts have rated the stock with a hold rating and twenty have given a buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of Moderate Buy and an average price target of $302.58.

Visa Stock Down 0.2 %

V stock opened at $274.58 on Wednesday. The company has a current ratio of 1.40, a quick ratio of 1.45 and a debt-to-equity ratio of 0.53. The company’s 50 day moving average is $279.24 and its 200 day moving average is $264.33. The stock has a market cap of $504.27 billion, a price-to-earnings ratio of 30.68, a price-to-earnings-growth ratio of 1.90 and a beta of 0.96. Visa has a 1-year low of $216.14 and a 1-year high of $290.96.

Visa (NYSE:V) last posted its quarterly earnings data on Tuesday, April 23rd. The credit-card processor reported $2.51 earnings per share for the quarter, topping the consensus estimate of $2.43 by $0.08. The company had revenue of $8.78 billion for the quarter, compared to analysts’ expectations of $8.62 billion. Visa had a net margin of 53.87% and a return on equity of 51.23%. Visa’s revenue for the quarter was up 9.9% compared to the same quarter last year. During the same period in the prior year, the business earned $2.09 earnings per share. Sell-side analysts predict that Visa will post 9.89 EPS for the current fiscal year.

Visa Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, June 3rd. Investors of record on Friday, May 17th will be issued a $0.52 dividend. This represents a $2.08 annualized dividend and a yield of 0.76%. The ex-dividend date of this dividend is Thursday, May 16th. Visa’s dividend payout ratio (DPR) is currently 23.24%.

Insider Activity at Visa

In related news, CEO Ryan Mcinerney sold 8,150 shares of Visa stock in a transaction on Thursday, February 1st. The shares were sold at an average price of $273.39, for a total value of $2,228,128.50. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. In other news, CAO Peter M. Andreski sold 2,615 shares of the business’s stock in a transaction on Wednesday, February 7th. The shares were sold at an average price of $278.88, for a total transaction of $729,271.20. Following the sale, the chief accounting officer now owns 4,898 shares in the company, valued at approximately $1,365,954.24. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, CEO Ryan Mcinerney sold 8,150 shares of the business’s stock in a transaction on Thursday, February 1st. The shares were sold at an average price of $273.39, for a total transaction of $2,228,128.50. The disclosure for this sale can be found here. Insiders have sold a total of 19,874 shares of company stock worth $5,506,827 over the last quarter. Corporate insiders own 0.19% of the company’s stock.

Institutional Trading of Visa

Hedge funds have recently modified their holdings of the business. Norges Bank purchased a new position in shares of Visa in the 4th quarter worth about $3,895,015,000. International Assets Investment Management LLC raised its position in shares of Visa by 17,418.7% in the 4th quarter. International Assets Investment Management LLC now owns 4,737,229 shares of the credit-card processor’s stock worth $1,233,338,000 after purchasing an additional 4,710,188 shares during the last quarter. FMR LLC raised its position in shares of Visa by 4.7% in the 3rd quarter. FMR LLC now owns 50,357,747 shares of the credit-card processor’s stock worth $11,582,785,000 after purchasing an additional 2,257,605 shares during the last quarter. J.P. Morgan Private Wealth Advisors LLC purchased a new position in shares of Visa in the 3rd quarter worth about $358,349,000. Finally, Public Employees Retirement Association of Colorado raised its position in shares of Visa by 14,306.3% in the 4th quarter. Public Employees Retirement Association of Colorado now owns 1,500,270 shares of the credit-card processor’s stock worth $390,595,000 after purchasing an additional 1,489,856 shares during the last quarter. Institutional investors own 82.15% of the company’s stock.

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.