Visa (NYSE:V) Price Target Raised to $320.00

Visa (NYSE:V) had its price target upped by BMO Capital Markets from $310.00 to $320.00 in a report released on Wednesday, Benzinga reports. The brokerage currently has an outperform rating on the credit-card processor’s stock.

A number of other brokerages have also recently weighed in on V. Macquarie restated an “outperform” rating and set a $300.00 price objective on shares of Visa in a research note on Friday, September 27th. Bank of America raised their price target on shares of Visa from $279.00 to $308.00 and gave the company a “neutral” rating in a report on Tuesday, September 17th. Deutsche Bank Aktiengesellschaft lifted their price objective on shares of Visa from $300.00 to $340.00 and gave the stock a “buy” rating in a research report on Wednesday. StockNews.com raised shares of Visa from a “hold” rating to a “buy” rating in a research report on Friday, August 9th. Finally, Susquehanna lifted their price target on shares of Visa from $326.00 to $339.00 and gave the stock a “positive” rating in a report on Wednesday. Four investment analysts have rated the stock with a hold rating, twenty-four have assigned a buy rating and two have assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $320.70.

Visa Trading Up 0.3 %

NYSE:V opened at $290.74 on Wednesday. The firm has a 50-day simple moving average of $281.00 and a 200-day simple moving average of $273.65. Visa has a one year low of $239.20 and a one year high of $296.34. The firm has a market cap of $529.82 billion, a P/E ratio of 29.88, a P/E/G ratio of 1.94 and a beta of 0.95. The company has a debt-to-equity ratio of 0.55, a quick ratio of 1.37 and a current ratio of 1.28.

Visa (NYSE:V) last issued its quarterly earnings data on Tuesday, October 29th. The credit-card processor reported $2.71 EPS for the quarter, topping analysts’ consensus estimates of $2.58 by $0.13. The company had revenue of $9.62 billion during the quarter, compared to the consensus estimate of $9.49 billion. Visa had a net margin of 54.96% and a return on equity of 53.16%. Visa’s revenue for the quarter was up 11.7% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $2.33 earnings per share. Equities analysts anticipate that Visa will post 11.17 EPS for the current fiscal year.

Visa Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, December 2nd. Investors of record on Tuesday, November 12th will be given a dividend of $0.59 per share. The ex-dividend date of this dividend is Tuesday, November 12th. This is an increase from Visa’s previous quarterly dividend of $0.52. This represents a $2.36 dividend on an annualized basis and a yield of 0.81%. Visa’s payout ratio is currently 21.38%.

Insider Buying and Selling at Visa

In other Visa news, CEO Ryan Mcinerney sold 8,620 shares of Visa stock in a transaction dated Tuesday, September 3rd. The stock was sold at an average price of $276.37, for a total transaction of $2,382,309.40. Following the completion of the transaction, the chief executive officer now owns 538 shares in the company, valued at approximately $148,687.06. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this link. 0.19% of the stock is owned by corporate insiders.

Institutional Trading of Visa

Hedge funds and other institutional investors have recently bought and sold shares of the stock. International Assets Investment Management LLC boosted its stake in shares of Visa by 45,189.4% during the 3rd quarter. International Assets Investment Management LLC now owns 9,758,505 shares of the credit-card processor’s stock worth $2,683,101,000 after acquiring an additional 9,736,958 shares in the last quarter. SG Americas Securities LLC boosted its position in Visa by 4,412.3% during the third quarter. SG Americas Securities LLC now owns 4,072,467 shares of the credit-card processor’s stock worth $1,119,725,000 after purchasing an additional 4,166,905 shares in the last quarter. National Bank of Canada FI boosted its position in Visa by 787.1% during the first quarter. National Bank of Canada FI now owns 4,619,881 shares of the credit-card processor’s stock worth $1,296,820,000 after purchasing an additional 4,099,122 shares in the last quarter. Swedbank AB acquired a new stake in Visa in the first quarter valued at approximately $511,321,000. Finally, GQG Partners LLC increased its position in shares of Visa by 40.1% in the first quarter. GQG Partners LLC now owns 5,990,634 shares of the credit-card processor’s stock valued at $1,671,866,000 after buying an additional 1,715,686 shares in the last quarter. 82.15% of the stock is owned by institutional investors and hedge funds.

About Visa

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.