Visa (NYSE:V) Stock Price Up 0% Following Analyst Upgrade

Visa Inc. (NYSE:V) shares were up 0% during trading on Tuesday after JPMorgan Chase & Co. raised their price target on the stock from $290.00 to $320.00. JPMorgan Chase & Co. currently has an overweight rating on the stock. Visa traded as high as $267.38 and last traded at $266.58. Approximately 797,991 shares traded hands during mid-day trading, a decline of 89% from the average daily volume of 7,183,475 shares. The stock had previously closed at $266.47.

A number of other equities analysts have also recently issued reports on V. Jefferies Financial Group lowered their target price on Visa from $325.00 to $300.00 and set a “buy” rating for the company in a report on Wednesday, July 24th. Royal Bank of Canada lowered their target price on Visa from $315.00 to $311.00 and set an “outperform” rating for the company in a report on Wednesday, July 24th. StockNews.com upgraded Visa from a “hold” rating to a “buy” rating in a report on Friday, August 9th. Citigroup lowered their target price on Visa from $321.00 to $319.00 and set a “buy” rating for the company in a report on Wednesday, July 24th. Finally, Macquarie reiterated an “outperform” rating and set a $300.00 target price on shares of Visa in a report on Wednesday, July 24th. Six analysts have rated the stock with a hold rating, twenty-one have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $308.50.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of the stock. Long Run Wealth Advisors LLC increased its stake in Visa by 2.5% in the first quarter. Long Run Wealth Advisors LLC now owns 1,519 shares of the credit-card processor’s stock valued at $424,000 after acquiring an additional 37 shares during the last quarter. Alaethes Wealth LLC increased 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 acquiring an additional 37 shares during the last quarter. Jessup Wealth Management Inc increased its stake in Visa by 0.7% in the first quarter. Jessup Wealth Management Inc now owns 5,051 shares of the credit-card processor’s stock valued at $1,410,000 after acquiring an additional 37 shares during the last quarter. Cordatus Wealth Management LLC increased its stake in Visa by 0.3% in the first quarter. Cordatus Wealth Management LLC now owns 10,793 shares of the credit-card processor’s stock valued at $3,012,000 after acquiring an additional 37 shares during the last quarter. Finally, Aurora Private Wealth Inc. increased its stake in Visa by 3.8% in the first quarter. Aurora Private Wealth Inc. now owns 1,036 shares of the credit-card processor’s stock valued at $289,000 after acquiring an additional 38 shares during the last quarter. 82.15% of the stock is owned by institutional investors.

Visa Price Performance

The business’s 50 day moving average is $266.24 and its 200-day moving average is $273.50. The firm has a market capitalization of $486.94 billion, a P/E ratio of 29.79, a PEG ratio of 1.89 and a beta of 0.95. The company has a quick ratio of 1.37, a current ratio of 1.37 and a debt-to-equity ratio of 0.54.

Visa (NYSE:V) last announced its quarterly earnings data on Tuesday, July 23rd. The credit-card processor reported $2.42 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $2.42. The business had revenue of $8.90 billion for the quarter, compared to analysts’ expectations of $8.92 billion. Visa had a net margin of 54.72% and a return on equity of 51.94%. The firm’s quarterly revenue was up 9.6% compared to the same quarter last year. During the same period last year, the firm posted $2.16 earnings per share. As a group, sell-side analysts predict that Visa Inc. will post 9.91 EPS for the current fiscal year.

Visa Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 3rd. Investors of record on Friday, August 9th will be paid a $0.52 dividend. This represents a $2.08 dividend on an annualized basis and a dividend yield of 0.78%. The ex-dividend date is Friday, August 9th. Visa’s dividend payout ratio is currently 23.24%.

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.