Visa (NYSE:V) had its price target reduced by KeyCorp from $220.00 to $190.00 in a research report report published on Monday morning, The Fly reports. They currently have an overweight rating on the credit-card processor’s stock.
V has been the subject of a number of other research reports. Jefferies Financial Group reduced their target price on Visa from to in a report on Wednesday, March 18th. Guggenheim reaffirmed a buy rating and set a $222.00 target price on shares of Visa in a report on Monday, February 3rd. Raymond James lifted their target price on Visa from $205.00 to $221.00 and gave the company an outperform rating in a report on Tuesday, January 28th. BMO Capital Markets reduced their target price on Visa from $232.00 to $229.00 and set an outperform rating for the company in a report on Monday, February 3rd. Finally, Morgan Stanley reduced their target price on Visa from $240.00 to $188.00 and set an overweight rating for the company in a report on Monday, March 16th. Four equities research analysts have rated the stock with a hold rating and twenty-four have assigned a buy rating to the stock. The stock has an average rating of Buy and an average price target of $213.85.
Shares of Visa stock opened at $168.88 on Monday. Visa has a 52-week low of $133.93 and a 52-week high of $214.17. The stock’s 50-day simple moving average is $185.40 and its 200 day simple moving average is $184.53. The stock has a market capitalization of $303.27 billion, a P/E ratio of 30.82, a P/E/G ratio of 1.66 and a beta of 0.94. The company has a debt-to-equity ratio of 0.46, a quick ratio of 1.27 and a current ratio of 1.27.
Visa (NYSE:V) last announced its quarterly earnings data on Thursday, January 30th. The credit-card processor reported $1.46 earnings per share (EPS) for the quarter, meeting the Zacks’ consensus estimate of $1.46. Visa had a return on equity of 43.15% and a net margin of 52.60%. The business had revenue of $6.05 billion for the quarter, compared to analysts’ expectations of $6.08 billion. During the same period in the previous year, the business posted $1.30 EPS. The firm’s quarterly revenue was up 10.0% compared to the same quarter last year. Equities research analysts forecast that Visa will post 6.02 EPS for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, March 3rd. Stockholders of record on Friday, February 14th were issued a dividend of $0.30 per share. This is a positive change from Visa’s previous quarterly dividend of $0.25. The ex-dividend date was Thursday, February 13th. This represents a $1.20 annualized dividend and a dividend yield of 0.71%. Visa’s payout ratio is presently 22.06%.
In related news, CAO James H. Hoffmeister sold 2,186 shares of the business’s stock in a transaction that occurred on Friday, February 14th. The stock was sold at an average price of $208.71, for a total value of $456,240.06. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Alfred F. Kelly, Jr. sold 7,000 shares of the business’s stock in a transaction that occurred on Monday, December 30th. The stock was sold at an average price of $189.31, for a total value of $1,325,170.00. Following the completion of the sale, the chief executive officer now owns 150,514 shares of the company’s stock, valued at approximately $28,493,805.34. The disclosure for this sale can be found here. Insiders have sold 39,371 shares of company stock valued at $7,814,759 in the last three months. 0.19% of the stock is owned by insiders.
Large investors have recently added to or reduced their stakes in the stock. Aviance Capital Partners LLC lifted its position in Visa by 17.9% in the fourth quarter. Aviance Capital Partners LLC now owns 31,412 shares of the credit-card processor’s stock valued at $5,902,000 after purchasing an additional 4,766 shares during the last quarter. Bogart Wealth LLC lifted its position in Visa by 10.1% in the fourth quarter. Bogart Wealth LLC now owns 4,146 shares of the credit-card processor’s stock valued at $779,000 after purchasing an additional 380 shares during the last quarter. Banque Cantonale Vaudoise bought a new stake in Visa in the fourth quarter valued at approximately $14,190,000. Blair William & Co. IL lifted its position in Visa by 0.3% in the fourth quarter. Blair William & Co. IL now owns 2,653,438 shares of the credit-card processor’s stock valued at $498,581,000 after purchasing an additional 7,371 shares during the last quarter. Finally, Change Path LLC lifted its position in Visa by 2.9% in the fourth quarter. Change Path LLC now owns 3,634 shares of the credit-card processor’s stock valued at $683,000 after purchasing an additional 101 shares during the last quarter. Institutional investors own 82.41% of the company’s stock.
Visa Company Profile
Visa Inc operates as a payments technology company worldwide. The company facilitates commerce through the transfer of value and information among consumers, merchants, financial institutions, businesses, strategic partners, and government entities. It operates VisaNet, a processing network that enables authorization, clearing, and settlement of payment transactions; and offers fraud protection for account holders and assured payment for merchants.
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