Visa (NYSE:V) Earns Outperform Rating from Analysts at Oppenheimer

Oppenheimer assumed coverage on shares of Visa (NYSE:V) in a report issued on Tuesday, MarketBeat Ratings reports. The brokerage issued an outperform rating and a $318.00 price target on the credit-card processor’s stock.

V has been the subject of a number of other reports. Piper Sandler lowered their target price on Visa from $322.00 to $319.00 and set an overweight rating for the company in a research report on Wednesday, July 24th. Morgan Stanley reissued an overweight rating and issued a $322.00 price objective on shares of Visa in a research note on Wednesday, September 25th. TD Cowen decreased their target price on shares of Visa from $320.00 to $318.00 and set a buy rating on the stock in a research report on Wednesday, July 24th. Monness Crespi & Hardt reiterated a neutral rating on shares of Visa in a research report on Tuesday, September 24th. Finally, Evercore ISI reduced their price objective on Visa from $335.00 to $330.00 and set an outperform rating on the stock in a research note on Tuesday, June 25th. Six equities research analysts have rated the stock with a hold rating, twenty-three have given a buy rating and two have given a strong buy rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of Moderate Buy and a consensus price target of $312.04.

Visa Stock Performance

V opened at $276.86 on Tuesday. The stock has a market capitalization of $506.36 billion, a price-to-earnings ratio of 30.93, a PEG ratio of 1.94 and a beta of 0.96. Visa has a fifty-two week low of $228.03 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. The company has a fifty day moving average of $272.63 and a 200 day moving average of $273.12.

Visa (NYSE:V) last issued its earnings results on Tuesday, July 23rd. The credit-card processor reported $2.42 earnings per share (EPS) for the quarter, hitting the consensus estimate of $2.42. Visa had a return on equity of 51.94% and a net margin of 54.72%. The firm had revenue of $8.90 billion for the quarter, compared to analysts’ expectations of $8.92 billion. During the same period in the previous year, the firm posted $2.16 earnings per share. The business’s revenue was up 9.6% compared to the same quarter last year. As a group, sell-side analysts forecast that Visa will post 9.92 earnings per share for the current fiscal year.

Visa Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, September 3rd. Shareholders of record on Friday, August 9th were issued a dividend of $0.52 per share. This represents a $2.08 annualized dividend and a yield of 0.75%. The ex-dividend date of this dividend was Friday, August 9th. Visa’s payout ratio is 23.24%.

Insider Buying and Selling at Visa

In other news, CEO Ryan Mcinerney sold 8,620 shares of the stock in a transaction that occurred on 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 transaction, the chief executive officer now directly owns 538 shares in the company, valued at $148,687.06. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Insiders own 0.19% of the company’s stock.

Institutional Investors Weigh In On Visa

Hedge funds have recently made changes to their positions in the stock. Westend Capital Management LLC acquired a new stake in Visa in the first quarter valued at approximately $25,000. Livelsberger Financial Advisory purchased a new position in Visa during the 4th quarter worth $25,000. POM Investment Strategies LLC increased its position in Visa by 970.0% during the 2nd quarter. POM Investment Strategies LLC now owns 107 shares of the credit-card processor’s stock valued at $28,000 after buying an additional 97 shares in the last quarter. Frank Rimerman Advisors LLC purchased a new stake in Visa in the fourth quarter valued at about $33,000. Finally, TruNorth Capital Management LLC boosted its holdings in Visa by 211.9% in the second quarter. TruNorth Capital Management LLC now owns 131 shares of the credit-card processor’s stock worth $34,000 after acquiring an additional 89 shares in the last quarter. 82.15% of the stock is currently owned by hedge funds and other institutional investors.

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.