Visa (NYSE:V) Price Target Raised to $325.00

Visa (NYSE:V) had its price target upped by TD Cowen from $318.00 to $325.00 in a research note published on Wednesday, Benzinga reports. They currently have a buy rating on the credit-card processor’s stock.

V has been the topic of a number of other research reports. BNP Paribas upgraded shares of Visa from a “neutral” rating to an “outperform” rating and set a $325.00 price objective on the stock in a research note on Tuesday, September 3rd. Piper Sandler lifted their price target on shares of Visa from $319.00 to $322.00 and gave the stock an “overweight” rating in a research note on Wednesday. Deutsche Bank Aktiengesellschaft upped their price objective on shares of Visa from $300.00 to $340.00 and gave the company a “buy” rating in a research report on Wednesday. The Goldman Sachs Group reaffirmed a “buy” rating and set a $317.00 target price on shares of Visa in a research report on Thursday, September 12th. Finally, William Blair raised Visa to a “strong-buy” rating in a report on Tuesday, July 23rd. Four investment analysts have rated the stock with a hold rating, twenty-four have issued a buy rating and two have given a strong buy rating to the company’s stock. According to data from MarketBeat, Visa presently has a consensus rating of “Moderate Buy” and a consensus price target of $320.70.

Visa Stock Performance

NYSE:V opened at $290.74 on Wednesday. Visa has a twelve month low of $239.20 and a twelve month high of $296.34. The firm has a market capitalization of $529.82 billion, a price-to-earnings ratio of 29.88, a PEG ratio of 1.94 and a beta of 0.95. The company has a current ratio of 1.28, a quick ratio of 1.37 and a debt-to-equity ratio of 0.55. The firm’s fifty day simple moving average is $281.00 and its 200 day simple moving average is $273.63.

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 company had revenue of $9.62 billion during the quarter, compared to the consensus estimate of $9.49 billion. Visa had a return on equity of 53.16% and a net margin of 54.96%. The company’s revenue was up 11.7% compared to the same quarter last year. During the same quarter in the prior year, the business earned $2.33 earnings per share. As a group, equities research analysts expect that Visa will post 11.17 earnings per share for the current fiscal year.

Visa Increases Dividend

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

Insider Buying and Selling

In other Visa news, CEO Ryan Mcinerney sold 8,620 shares of the business’s stock in a transaction dated Tuesday, September 3rd. The shares were 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 directly owns 538 shares of the company’s stock, valued at $148,687.06. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Corporate insiders own 0.19% of the company’s stock.

Hedge Funds Weigh In On Visa

Hedge funds and other institutional investors have recently made changes to their positions in the business. WFA Asset Management Corp grew its stake in shares of Visa by 4.6% in the first quarter. WFA Asset Management Corp now owns 2,263 shares of the credit-card processor’s stock worth $632,000 after purchasing an additional 100 shares in the last quarter. Valeo Financial Advisors LLC increased its stake in Visa by 1.1% during the 1st quarter. Valeo Financial Advisors LLC now owns 60,371 shares of the credit-card processor’s stock valued at $16,848,000 after buying an additional 655 shares during the period. KFG Wealth Management LLC raised its position in shares of Visa by 13.2% during the 1st quarter. KFG Wealth Management LLC now owns 949 shares of the credit-card processor’s stock worth $265,000 after buying an additional 111 shares in the last quarter. Leeward Financial Partners LLC lifted its stake in shares of Visa by 5.7% in the 1st quarter. Leeward Financial Partners LLC now owns 13,782 shares of the credit-card processor’s stock worth $3,846,000 after acquiring an additional 739 shares during the period. Finally, Redmont Wealth Advisors LLC bought a new position in shares of Visa in the first quarter valued at approximately $103,000. 82.15% of the stock is currently owned by institutional investors and hedge funds.

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.