Visa (NYSE:V) Price Target Raised to $206.00

Visa (NYSE:V) had its target price boosted by Piper Sandler from $200.00 to $206.00 in a research report sent to investors on Wednesday morning, BenzingaRatingsTable reports. The brokerage currently has a neutral rating on the credit-card processor’s stock. Piper Sandler also issued estimates for Visa’s Q4 2020 earnings at $1.10 EPS, FY2020 earnings at $5.01 EPS, Q1 2021 earnings at $1.35 EPS, Q2 2021 earnings at $1.41 EPS, Q3 2021 earnings at $1.36 EPS, Q4 2021 earnings at $1.48 EPS, FY2021 earnings at $5.60 EPS, Q1 2022 earnings at $1.62 EPS, Q2 2022 earnings at $1.65 EPS, Q3 2022 earnings at $1.59 EPS and FY2022 earnings at $6.58 EPS.

Other equities analysts have also recently issued research reports about the company. Nomura Securities decreased their price target on Visa from $233.00 to $214.00 and set a buy rating for the company in a report on Thursday, April 9th. Goldman Sachs Group started coverage on Visa in a report on Tuesday, July 14th. They issued a buy rating and a $223.00 price target for the company. Robert W. Baird upped their price target on Visa from $166.00 to $175.00 and gave the stock an outperform rating in a report on Tuesday, March 31st. BMO Capital Markets decreased their price target on Visa from $234.00 to $213.00 and set an outperform rating for the company in a report on Monday, May 4th. Finally, Wedbush upped their price target on Visa from $200.00 to $220.00 and gave the stock an outperform rating in a report on Monday, June 1st. Seven research analysts have rated the stock with a hold rating and twenty-two have given a buy rating to the company. The company presently has an average rating of Buy and a consensus price target of $207.56.

V opened at $190.40 on Wednesday. The firm has a 50 day moving average price of $194.04 and a 200 day moving average price of $187.14. The company has a market cap of $377.15 billion, a PE ratio of 36.27, a price-to-earnings-growth ratio of 3.09 and a beta of 0.92. Visa has a 1 year low of $133.93 and a 1 year high of $214.17. The company has a debt-to-equity ratio of 0.59, a quick ratio of 1.25 and a current ratio of 1.55.

Visa (NYSE:V) last posted its earnings results on Tuesday, July 28th. The credit-card processor reported $1.07 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $1.02 by $0.05. The firm had revenue of $4.84 billion during the quarter, compared to the consensus estimate of $4.85 billion. Visa had a net margin of 51.37% and a return on equity of 40.65%. The company’s revenue was down 18.6% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.37 EPS. On average, sell-side analysts predict that Visa will post 4.98 earnings per share for the current year.

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 1st. Investors of record on Friday, August 14th will be paid a dividend of $0.30 per share. This represents a $1.20 annualized dividend and a yield of 0.63%. The ex-dividend date of this dividend is Thursday, August 13th. Visa’s dividend payout ratio (DPR) is presently 22.06%.

In related news, CEO Alfred F. Kelly, Jr. sold 7,000 shares of the firm’s stock in a transaction on Friday, May 29th. The stock was sold at an average price of $194.50, for a total transaction of $1,361,500.00. Following the transaction, the chief executive officer now directly owns 136,090 shares in the company, valued at $26,469,505. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, President Ryan Mcinerney sold 26,150 shares of the firm’s stock in a transaction on Wednesday, May 27th. The stock was sold at an average price of $191.87, for a total value of $5,017,400.50. The disclosure for this sale can be found here. Insiders have sold 50,429 shares of company stock worth $9,746,754 over the last 90 days. 0.19% of the stock is currently owned by company insiders.

Hedge funds and other institutional investors have recently modified their holdings of the business. CBIZ Investment Advisory Services LLC acquired a new stake in Visa in the first quarter worth $25,000. AlphaMark Advisors LLC increased its position in Visa by 57.8% in the first quarter. AlphaMark Advisors LLC now owns 172 shares of the credit-card processor’s stock worth $28,000 after buying an additional 63 shares during the period. Cedar Mountain Advisors LLC increased its position in Visa by 102.6% in the second quarter. Cedar Mountain Advisors LLC now owns 158 shares of the credit-card processor’s stock worth $31,000 after buying an additional 80 shares during the period. CVA Family Office LLC acquired a new stake in Visa in the first quarter worth $32,000. Finally, Price Wealth LLC increased its position in Visa by 90.0% in the second quarter. Price Wealth LLC now owns 190 shares of the credit-card processor’s stock worth $37,000 after buying an additional 90 shares during the period. 81.41% of the stock is currently owned by hedge funds and other institutional investors.

About Visa

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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