Visa (NYSE:V) Price Target Raised to $375.00 at Oppenheimer

Visa (NYSE:V) had its price target hoisted by Oppenheimer from $321.00 to $375.00 in a report published on Thursday,Benzinga reports. The brokerage currently has an outperform rating on the credit-card processor’s stock.

Other equities analysts have also recently issued reports about the company. Royal Bank of Canada increased their price target on Visa from $311.00 to $322.00 and gave the stock an “outperform” rating in a report on Wednesday, October 30th. Keefe, Bruyette & Woods lifted their price target on shares of Visa from $335.00 to $360.00 and gave the company an “outperform” rating in a research report on Monday, December 9th. Compass Point initiated coverage on shares of Visa in a research note on Wednesday, September 4th. They issued a “buy” rating and a $319.00 price target on the stock. Monness Crespi & Hardt reaffirmed a “neutral” rating on shares of Visa in a research report on Tuesday, September 24th. Finally, Macquarie boosted their target price on Visa from $300.00 to $335.00 and gave the company an “outperform” rating in a research report on Wednesday, October 30th. Four equities research analysts have rated the stock with a hold rating, twenty-five have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, Visa has a consensus rating of “Moderate Buy” and an average price target of $328.41.

Visa Trading Up 1.6 %

Shares of Visa stock opened at $314.88 on Thursday. The company has a current ratio of 1.28, a quick ratio of 1.28 and a debt-to-equity ratio of 0.55. The firm’s 50-day moving average price is $302.41 and its 200 day moving average price is $282.21. The firm has a market capitalization of $586.58 billion, a PE ratio of 32.36, a P/E/G ratio of 2.11 and a beta of 0.96. Visa has a twelve month low of $252.70 and a twelve month high of $321.61.

Visa (NYSE:V) last issued its earnings results on Tuesday, October 29th. The credit-card processor reported $2.71 earnings per share for the quarter, topping the consensus estimate of $2.58 by $0.13. The business had revenue of $9.62 billion for the quarter, compared to analysts’ expectations of $9.49 billion. Visa had a return on equity of 53.16% and a net margin of 54.96%. The business’s revenue for the quarter was up 11.7% compared to the same quarter last year. During the same period in the previous year, the firm posted $2.33 EPS. On average, sell-side analysts predict that Visa will post 11.23 EPS for the current fiscal year.

Visa Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, December 2nd. Stockholders of record on Tuesday, November 12th were given a $0.59 dividend. The ex-dividend date was Tuesday, November 12th. This is a positive change from Visa’s previous quarterly dividend of $0.52. This represents a $2.36 annualized dividend and a dividend yield of 0.75%. Visa’s dividend payout ratio is currently 24.25%.

Insider Activity at Visa

In other Visa news, insider Paul D. Fabara sold 2,171 shares of the firm’s stock in a transaction dated Friday, November 22nd. The shares were sold at an average price of $307.97, for a total transaction of $668,602.87. Following the sale, the insider now directly owns 17,894 shares of the company’s stock, valued at $5,510,815.18. This trade represents a 10.82 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 0.19% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Visa

A number of hedge funds and other institutional investors have recently made changes to their positions in V. State Street Corp increased its position in Visa by 4.5% during the third quarter. State Street Corp now owns 76,610,942 shares of the credit-card processor’s stock worth $21,064,179,000 after purchasing an additional 3,327,977 shares during the last quarter. FMR LLC grew its stake in shares of Visa by 6.1% during the 3rd quarter. FMR LLC now owns 57,111,843 shares of the credit-card processor’s stock valued at $15,702,901,000 after buying an additional 3,265,518 shares during the period. Geode Capital Management LLC increased its holdings in shares of Visa by 7.7% during the 3rd quarter. Geode Capital Management LLC now owns 38,655,250 shares of the credit-card processor’s stock worth $10,601,135,000 after buying an additional 2,772,549 shares during the last quarter. Ameriprise Financial Inc. raised its position in shares of Visa by 2.4% in the 2nd quarter. Ameriprise Financial Inc. now owns 14,610,590 shares of the credit-card processor’s stock worth $3,833,981,000 after buying an additional 345,829 shares during the period. Finally, Legal & General Group Plc boosted its holdings in Visa by 2.2% in the second quarter. Legal & General Group Plc now owns 14,416,394 shares of the credit-card processor’s stock valued at $3,783,857,000 after acquiring an additional 312,286 shares during the last quarter. Hedge funds and other institutional investors own 82.15% of the company’s stock.

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.