Visa (NYSE:V) PT Lowered to $319.00 at Piper Sandler

Visa (NYSE:V) had its price target cut by Piper Sandler from $322.00 to $319.00 in a research note released on Wednesday morning, Benzinga reports. They currently have an overweight rating on the credit-card processor’s stock.

A number of other equities research analysts have also recently issued reports on V. JPMorgan Chase & Co. dropped their price objective on Visa from $302.00 to $300.00 and set an overweight rating on the stock in a research note on Thursday, July 18th. Evercore ISI decreased their price objective on shares of Visa from $335.00 to $330.00 and set an outperform rating for the company in a research report on Tuesday, June 25th. Redburn Atlantic reaffirmed a neutral rating and issued a $307.00 target price on shares of Visa in a report on Wednesday, March 27th. Macquarie lifted their price target on Visa from $290.00 to $300.00 and gave the stock an outperform rating in a report on Wednesday, April 24th. Finally, Wedbush boosted their price target on Visa from $280.00 to $300.00 and gave the stock an outperform rating in a research report on Wednesday, April 24th. Six equities research analysts have rated the stock with a hold rating, twenty-one have given a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, Visa currently has an average rating of Moderate Buy and a consensus price target of $307.25.

Visa Trading Up 2.3 %

NYSE:V opened at $259.46 on Wednesday. The company has a market cap of $474.54 billion, a P/E ratio of 28.99, a price-to-earnings-growth ratio of 1.79 and a beta of 0.95. Visa has a twelve month low of $227.78 and a twelve month high of $290.96. The business has a 50 day moving average price of $270.03 and a two-hundred day moving average price of $274.30. The company has a quick ratio of 1.40, a current ratio of 1.37 and a debt-to-equity ratio of 0.54.

Visa (NYSE:V) last announced its earnings results on Tuesday, July 23rd. The credit-card processor reported $2.42 EPS for the quarter, hitting the consensus estimate of $2.42. Visa had a net margin of 54.72% and a return on equity of 51.94%. The business had revenue of $8.90 billion during the quarter, compared to analysts’ expectations of $8.92 billion. During the same quarter in the prior year, the company posted $2.16 earnings per share. The firm’s revenue was up 9.6% on a year-over-year basis. As a group, analysts expect that Visa will post 9.92 EPS for the current fiscal year.

Visa Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Tuesday, September 3rd. Investors of record on Friday, August 9th will be given a dividend of $0.52 per share. The ex-dividend date of this dividend is Friday, August 9th. This represents a $2.08 annualized dividend and a dividend yield of 0.80%. Visa’s dividend payout ratio is 23.24%.

Insider Buying and Selling at Visa

In related news, insider Paul D. Fabara sold 25,293 shares of the company’s stock in a transaction on Wednesday, May 15th. The stock was sold at an average price of $277.15, for a total transaction of $7,009,954.95. Following the completion of the sale, the insider now directly owns 17,894 shares in the company, valued at approximately $4,959,322.10. The sale was disclosed in a filing with the SEC, which is available through this link. Company insiders own 0.19% of the company’s stock.

Institutional Investors Weigh In On Visa

Several hedge funds have recently modified their holdings of the company. Livelsberger Financial Advisory acquired a new stake in shares of Visa during the fourth quarter valued at about $25,000. Westend Capital Management LLC bought a new position in Visa in the 1st quarter valued at approximately $25,000. POM Investment Strategies LLC boosted its position in Visa by 970.0% during the 2nd quarter. POM Investment Strategies LLC now owns 107 shares of the credit-card processor’s stock worth $28,000 after buying an additional 97 shares during the period. O Brien Wealth Partners LLC bought a new stake in Visa during the 4th quarter worth approximately $32,000. Finally, Frank Rimerman Advisors LLC acquired a new position in Visa in the 4th quarter valued at approximately $33,000. 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.