Visa (NYSE:V) Trading Up 0.2% on Analyst Upgrade

Shares of Visa Inc. (NYSE:V) rose 0.2% on Friday after Mizuho raised their price target on the stock from $279.00 to $292.00. Mizuho currently has a neutral rating on the stock. Visa traded as high as $290.82 and last traded at $290.43. Approximately 1,138,562 shares traded hands during trading, a decline of 84% from the average daily volume of 7,049,893 shares. The stock had previously closed at $289.85.

Several other analysts have also issued reports on V. William Blair upgraded shares of Visa to a “strong-buy” rating in a report on Tuesday, July 23rd. Macquarie boosted their price objective on shares of Visa from $300.00 to $335.00 and gave the company an “outperform” rating in a report on Wednesday. Citigroup boosted their price objective on shares of Visa from $319.00 to $326.00 and gave the company a “buy” rating in a report on Wednesday. Jefferies Financial Group boosted their price objective on shares of Visa from $320.00 to $330.00 and gave the company a “buy” rating in a report on Wednesday. Finally, Robert W. Baird boosted their price objective on shares of Visa from $330.00 to $340.00 and gave the company an “outperform” rating in a report on Wednesday. Four investment analysts have rated the stock with a hold rating, twenty-four have assigned a buy rating and two have given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $320.70.

Insider Activity 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 stock was sold at an average price of $276.37, for a total value of $2,382,309.40. Following the completion of the sale, the chief executive officer now directly owns 538 shares of the company’s stock, valued at approximately $148,687.06. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.19% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Visa

Several large investors have recently modified their holdings of V. WFA Asset Management Corp lifted its holdings in shares of Visa by 4.6% during 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 during the period. China Universal Asset Management Co. Ltd. lifted its holdings in shares of Visa by 46.9% during the first quarter. China Universal Asset Management Co. Ltd. now owns 50,328 shares of the credit-card processor’s stock worth $14,046,000 after purchasing an additional 16,078 shares during the period. Oak Ridge Investments LLC lifted its holdings in shares of Visa by 4.0% during the first quarter. Oak Ridge Investments LLC now owns 64,229 shares of the credit-card processor’s stock worth $17,925,000 after purchasing an additional 2,459 shares during the period. Klingman & Associates LLC lifted its holdings in shares of Visa by 1.1% during the first quarter. Klingman & Associates LLC now owns 3,717 shares of the credit-card processor’s stock worth $1,037,000 after purchasing an additional 39 shares during the period. Finally, Centric Wealth Management lifted its holdings in shares of Visa by 4.4% during the first quarter. Centric Wealth Management now owns 18,270 shares of the credit-card processor’s stock worth $4,908,000 after purchasing an additional 774 shares during the period. 82.15% of the stock is owned by institutional investors and hedge funds.

Visa Trading Up 0.3 %

The company has a quick ratio of 1.37, a current ratio of 1.28 and a debt-to-equity ratio of 0.55. The company has a fifty day moving average of $281.00 and a two-hundred day moving average of $273.65. The stock has a market capitalization of $529.82 billion, a price-to-earnings ratio of 29.88, a P/E/G ratio of 1.94 and a beta of 0.95.

Visa (NYSE:V) last released its quarterly earnings data on Tuesday, October 29th. The credit-card processor reported $2.71 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.58 by $0.13. The firm had revenue of $9.62 billion during 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%. Visa’s revenue was up 11.7% compared to the same quarter last year. During the same quarter in the prior year, the business posted $2.33 earnings per share. On average, research analysts expect that Visa Inc. will post 11.17 EPS for the current year.

Visa Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, December 2nd. Shareholders of record on Tuesday, November 12th will be given a $0.59 dividend. This is a boost from Visa’s previous quarterly dividend of $0.52. The ex-dividend date is Tuesday, November 12th. This represents a $2.36 annualized dividend and a yield of 0.81%. Visa’s dividend payout ratio is presently 21.38%.

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.