Royal Bank of Canada restated their buy rating on shares of Visa (NYSE:V) in a report released on Sunday, AnalystRatings.com reports. The brokerage currently has a $243.00 price objective on the credit-card processor’s stock.
A number of other research analysts have also recently commented on the stock. Raymond James increased their target price on shares of Visa from $204.00 to $217.00 and gave the stock an outperform rating in a report on Wednesday, July 29th. Wells Fargo & Company increased their target price on shares of Visa from $205.00 to $220.00 and gave the stock an overweight rating in a report on Monday, July 13th. JPMorgan Chase & Co. increased their target price on shares of Visa from $186.00 to $229.00 and gave the stock an overweight rating in a report on Monday, August 17th. Morgan Stanley increased their target price on shares of Visa from $196.00 to $203.00 and gave the stock an overweight rating in a report on Tuesday, July 28th. Finally, Daiwa Capital Markets reissued a neutral rating and issued a $204.00 target price on shares of Visa in a report on Tuesday, July 21st. Six analysts have rated the stock with a hold rating and twenty-four have given a buy rating to the company’s stock. The company presently has a consensus rating of Buy and a consensus price target of $213.34.
V opened at $205.13 on Friday. Visa has a twelve month low of $133.93 and a twelve month high of $217.35. The company has a 50-day simple moving average of $201.86 and a 200 day simple moving average of $186.80. The company has a quick ratio of 1.55, a current ratio of 1.55 and a debt-to-equity ratio of 0.59. The stock has a market capitalization of $398.44 billion, a price-to-earnings ratio of 39.07, a P/E/G ratio of 3.05 and a beta of 0.90.
Visa (NYSE:V) last posted its quarterly earnings data on Tuesday, July 28th. The credit-card processor reported $1.07 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $1.02 by $0.05. Visa had a net margin of 51.37% and a return on equity of 40.65%. The business had revenue of $4.84 billion during the quarter, compared to analysts’ expectations of $4.85 billion. During the same quarter in the prior year, the business posted $1.37 earnings per share. Visa’s revenue was down 18.6% compared to the same quarter last year. Sell-side analysts anticipate that Visa will post 5.01 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which was paid on Tuesday, September 1st. Shareholders of record on Friday, August 14th were given a dividend of $0.30 per share. This represents a $1.20 dividend on an annualized basis and a yield of 0.58%. The ex-dividend date was Thursday, August 13th. Visa’s dividend payout ratio is presently 22.06%.
In other news, insider Rajat Taneja sold 45,036 shares of the firm’s stock in a transaction that occurred on Wednesday, August 26th. The shares were sold at an average price of $210.00, for a total transaction of $9,457,560.00. Also, CEO Alfred F. Kelly, Jr. sold 7,000 shares of the firm’s stock in a transaction that occurred on Friday, August 28th. The stock was sold at an average price of $212.00, for a total transaction of $1,484,000.00. Following the sale, the chief executive officer now directly owns 127,090 shares of the company’s stock, valued at approximately $26,943,080. The disclosure for this sale can be found here. Insiders have sold a total of 118,122 shares of company stock valued at $24,683,231 in the last three months. Insiders own 0.19% of the company’s stock.
Several hedge funds have recently made changes to their positions in the company. Two Sigma Advisers LP grew its position in Visa by 9.9% in the 2nd quarter. Two Sigma Advisers LP now owns 2,336,268 shares of the credit-card processor’s stock valued at $451,297,000 after purchasing an additional 210,500 shares during the period. Demars Financial Group LLC acquired a new stake in Visa in the 2nd quarter valued at $112,000. Elevated Capital Advisors LLC acquired a new stake in Visa in the 2nd quarter valued at $502,000. FinTrust Capital Advisors LLC grew its position in Visa by 21.6% in the 2nd quarter. FinTrust Capital Advisors LLC now owns 1,703 shares of the credit-card processor’s stock valued at $329,000 after purchasing an additional 303 shares during the period. Finally, Hayek Kallen Investment Management grew its position in Visa by 3.9% in the 2nd quarter. Hayek Kallen Investment Management now owns 22,679 shares of the credit-card processor’s stock valued at $4,381,000 after purchasing an additional 856 shares during the period. 80.74% of the stock is owned by institutional investors.
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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