Piper Sandler Reaffirms “Overweight” Rating for Visa (NYSE:V)

Piper Sandler reiterated their overweight rating on shares of Visa (NYSE:V) in a research note published on Friday,Benzinga reports. They currently have a $383.00 price objective on the credit-card processor’s stock, up from their prior price objective of $368.00.

Several other equities research analysts have also recently commented on V. Oppenheimer boosted their price target on shares of Visa from $375.00 to $390.00 and gave the stock an “outperform” rating in a research report on Friday. Jefferies Financial Group boosted their price objective on shares of Visa from $320.00 to $330.00 and gave the stock a “buy” rating in a research note on Wednesday, October 30th. Deutsche Bank Aktiengesellschaft boosted their price objective on shares of Visa from $300.00 to $340.00 and gave the stock a “buy” rating in a research note on Wednesday, October 30th. The Goldman Sachs Group boosted their price objective on shares of Visa from $346.00 to $384.00 and gave the stock a “buy” rating in a research note on Friday. Finally, Barclays boosted their price objective on shares of Visa from $319.00 to $347.00 and gave the stock an “overweight” rating in a research note on Monday, November 4th. Four analysts have rated the stock with a hold rating, twenty-five have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, Visa currently has an average rating of “Moderate Buy” and a consensus price target of $352.85.

Visa Trading Down 0.3 %

V opened at $342.05 on Friday. The stock has a market capitalization of $637.19 billion, a P/E ratio of 34.48, a P/E/G ratio of 2.30 and a beta of 0.97. Visa has a 12 month low of $252.70 and a 12 month high of $351.25. The firm’s fifty day simple moving average is $317.74 and its 200 day simple moving average is $293.27. The company has a current ratio of 1.12, a quick ratio of 1.28 and a debt-to-equity ratio of 0.45.

Visa (NYSE:V) last issued its quarterly earnings results on Thursday, January 30th. The credit-card processor reported $2.75 EPS for the quarter, topping the consensus estimate of $2.66 by $0.09. Visa had a net margin of 54.27% and a return on equity of 54.79%. As a group, research analysts anticipate that Visa will post 11.2 EPS for the current fiscal year.

Visa Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, March 3rd. Investors of record on Tuesday, February 11th will be paid a $0.59 dividend. This represents a $2.36 annualized dividend and a yield of 0.69%. The ex-dividend date is Tuesday, February 11th. Visa’s payout ratio is 23.79%.

Insider Activity at Visa

In other news, insider Paul D. Fabara sold 2,171 shares of the stock in a transaction 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 completion of the sale, the insider now directly owns 17,894 shares in the company, valued at $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 SEC, which is available through the SEC website. Also, CEO Ryan Mcinerney sold 8,620 shares of the stock in a transaction 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 owned by insiders.

Institutional Investors Weigh In On Visa

Several large investors have recently modified their holdings of the company. State Street Corp grew its holdings 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 worth $21,064,179,000 after purchasing an additional 3,327,977 shares during the period. FMR LLC grew its holdings in Visa by 6.1% in the third quarter. FMR LLC now owns 57,111,843 shares of the credit-card processor’s stock worth $15,702,901,000 after purchasing an additional 3,265,518 shares during the period. Geode Capital Management LLC grew its holdings in Visa by 7.7% in 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 purchasing an additional 2,772,549 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its holdings in 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 worth $3,188,862,000 after purchasing an additional 123,927 shares during the period. Finally, Charles Schwab Investment Management Inc. grew its holdings in Visa by 6.2% in the third quarter. Charles Schwab Investment Management Inc. now owns 11,522,445 shares of the credit-card processor’s stock worth $3,168,096,000 after purchasing an additional 670,590 shares during the period. 82.15% of the stock is currently owned by institutional investors and hedge funds.

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.