Visa (NYSE:V) PT Raised to $299.00

Visa (NYSE:V) had its price target upped by Oppenheimer from $297.00 to $299.00 in a report issued on Wednesday, Benzinga reports. Oppenheimer currently has an outperform rating on the credit-card processor’s stock.

Several other research firms have also recently issued reports on V. Barclays raised their target price on shares of Visa from $304.00 to $319.00 and gave the stock an overweight rating in a research report on Monday, January 29th. Citigroup raised their target price on shares of Visa from $296.00 to $306.00 and gave the stock a buy rating in a research report on Thursday, January 18th. UBS Group raised their target price on shares of Visa from $305.00 to $315.00 and gave the stock a buy rating in a research report on Friday, January 26th. Susquehanna raised their price target on shares of Visa from $300.00 to $326.00 and gave the company a positive rating in a report on Friday, January 26th. Finally, Royal Bank of Canada raised their price target on shares of Visa from $290.00 to $309.00 and gave the company an outperform rating in a report on Friday, January 26th. Five investment analysts have rated the stock with a hold rating and twenty have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of Moderate Buy and a consensus target price of $302.58.

Visa Price Performance

Visa stock opened at $274.52 on Wednesday. The firm’s 50-day moving average is $279.24 and its two-hundred day moving average is $264.52. The company has a debt-to-equity ratio of 0.53, a current ratio of 1.40 and a quick ratio of 1.45. Visa has a 12-month low of $216.14 and a 12-month high of $290.96. The stock has a market capitalization of $504.16 billion, a P/E ratio of 30.67, a P/E/G ratio of 1.89 and a beta of 0.96.

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

Visa Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, June 3rd. Stockholders of record on Friday, May 17th will be paid a dividend of $0.52 per share. The ex-dividend date of this dividend is Thursday, May 16th. This represents a $2.08 dividend on an annualized basis and a dividend yield of 0.76%. Visa’s dividend payout ratio is currently 23.24%.

Insider Buying and Selling

In related news, Director Lloyd Carney sold 909 shares of Visa stock in a transaction on Friday, April 26th. The shares were sold at an average price of $275.55, for a total value of $250,474.95. Following the completion of the sale, the director now owns 2,591 shares in the company, valued at $713,950.05. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. 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 sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Lloyd Carney sold 909 shares of Visa stock in a transaction on Friday, April 26th. The stock was sold at an average price of $275.55, for a total transaction of $250,474.95. Following the completion of the transaction, the director now directly owns 2,591 shares of the company’s stock, valued at approximately $713,950.05. The disclosure for this sale can be found here. Over the last quarter, insiders sold 19,874 shares of company stock worth $5,506,827. Insiders own 0.19% of the company’s stock.

Hedge Funds Weigh In On Visa

A number of hedge funds have recently added to or reduced their stakes in the business. Alaethes Wealth LLC grew its stake in Visa by 0.4% in the fourth quarter. Alaethes Wealth LLC now owns 8,843 shares of the credit-card processor’s stock valued at $2,302,000 after purchasing an additional 37 shares in the last quarter. Jessup Wealth Management Inc boosted its stake in shares of Visa by 0.7% during the 1st quarter. Jessup Wealth Management Inc now owns 5,051 shares of the credit-card processor’s stock worth $1,410,000 after acquiring an additional 37 shares during the period. Long Run Wealth Advisors LLC boosted its stake in shares of Visa by 2.5% during the 1st quarter. Long Run Wealth Advisors LLC now owns 1,519 shares of the credit-card processor’s stock worth $424,000 after acquiring an additional 37 shares during the period. Garden State Investment Advisory Services LLC boosted its stake in shares of Visa by 1.8% during the 4th quarter. Garden State Investment Advisory Services LLC now owns 2,191 shares of the credit-card processor’s stock worth $571,000 after acquiring an additional 38 shares during the period. Finally, Aurora Private Wealth Inc. boosted its stake in shares of Visa by 3.8% during the 1st quarter. Aurora Private Wealth Inc. now owns 1,036 shares of the credit-card processor’s stock worth $289,000 after acquiring an additional 38 shares during the period. Institutional investors and hedge funds own 82.15% of the company’s stock.

Visa Company Profile

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.