Visa (NYSE:V) Price Target Raised to $308.00

Visa (NYSE:V) had its price target boosted by Bank of America from $279.00 to $308.00 in a report issued on Tuesday, Benzinga reports. Bank of America currently has a neutral rating on the credit-card processor’s stock.

V has been the subject of a number of other reports. Citigroup reduced their target price on shares of Visa from $321.00 to $319.00 and set a buy rating for the company in a research report on Wednesday, July 24th. Macquarie reaffirmed an outperform rating and issued a $300.00 target price on shares of Visa in a research report on Wednesday, July 24th. Evercore ISI lowered their price target on Visa from $335.00 to $330.00 and set an outperform rating for the company in a research report on Tuesday, June 25th. Compass Point started coverage on shares of Visa in a research note on Wednesday, September 4th. They set a buy rating and a $319.00 target price on the stock. Finally, BNP Paribas raised Visa from a neutral rating to an outperform rating and set a $325.00 price target on the stock in a research report on Tuesday, September 3rd. Six investment analysts have rated the stock with a hold rating, twenty-four have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, the stock has an average rating of Moderate Buy and an average price target of $310.22.

Visa Price Performance

Shares of V opened at $285.25 on Tuesday. The business’s 50-day moving average is $270.27 and its two-hundred day moving average is $273.46. The company has a market capitalization of $519.81 billion, a P/E ratio of 31.87, a P/E/G ratio of 2.05 and a beta of 0.96. Visa has a fifty-two week low of $227.78 and a fifty-two week high of $293.07. The company has a debt-to-equity ratio of 0.54, a quick ratio of 1.37 and a current ratio of 1.37.

Visa (NYSE:V) last issued its quarterly earnings data on Tuesday, July 23rd. The credit-card processor reported $2.42 EPS for the quarter, hitting analysts’ consensus estimates 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 for the quarter, compared to analysts’ expectations of $8.92 billion. During the same quarter last year, the company earned $2.16 EPS. The business’s revenue was up 9.6% on a year-over-year basis. Research analysts predict that Visa will post 9.92 earnings per share for the current year.

Visa Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, September 3rd. Investors of record on Friday, August 9th were given a dividend of $0.52 per share. This represents a $2.08 dividend on an annualized basis and a yield of 0.73%. The ex-dividend date was Friday, August 9th. Visa’s dividend payout ratio is presently 23.24%.

Insider Buying and Selling

In other news, CEO Ryan Mcinerney sold 8,620 shares of the company’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 owns 538 shares of the company’s stock, valued at approximately $148,687.06. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. 0.19% of the stock is owned by company insiders.

Hedge Funds Weigh In On Visa

Hedge funds and other institutional investors have recently made changes to their positions in the business. Westend Capital Management LLC acquired a new position in shares of Visa during the first quarter worth $25,000. Livelsberger Financial Advisory acquired a new position in Visa in the 4th quarter worth $25,000. POM Investment Strategies LLC lifted its holdings in Visa by 970.0% in 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 in the last quarter. Frank Rimerman Advisors LLC purchased a new position in Visa in the 4th quarter valued at about $33,000. Finally, TruNorth Capital Management LLC grew its stake in shares of Visa by 211.9% during the second quarter. TruNorth Capital Management LLC now owns 131 shares of the credit-card processor’s stock valued at $34,000 after acquiring an additional 89 shares in the last quarter. Institutional investors and hedge funds 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.