Visa (NYSE:V) Stock Price Up 0.5% After Analyst Upgrade

Visa Inc. (NYSE:V)’s stock price traded up 0.5% during trading on Monday after Barclays raised their price target on the stock from $319.00 to $347.00. Barclays currently has an overweight rating on the stock. Visa traded as high as $293.15 and last traded at $292.31. 1,008,569 shares traded hands during trading, a decline of 86% from the average session volume of 7,042,163 shares. The stock had previously closed at $290.74.

A number of other brokerages have also recently commented on V. Monness Crespi & Hardt reaffirmed a “neutral” rating on shares of Visa in a research report on Tuesday, September 24th. The Goldman Sachs Group reaffirmed a “buy” rating and set a $317.00 target price on shares of Visa in a report on Thursday, September 12th. BNP Paribas upgraded shares of Visa from a “neutral” rating to an “outperform” rating and set a $325.00 price target on the stock in a report on Tuesday, September 3rd. Deutsche Bank Aktiengesellschaft raised their price target on shares of Visa from $300.00 to $340.00 and gave the stock a “buy” rating in a research report on Wednesday, October 30th. Finally, Morgan Stanley upped their price objective on shares of Visa from $322.00 to $326.00 and gave the company an “overweight” rating in a report on Wednesday, October 30th. Four equities research analysts have rated the stock with a hold rating, twenty-four have assigned a buy rating and two have issued a strong buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $321.74.

Insider Buying and Selling at Visa

In related news, CEO Ryan Mcinerney sold 8,620 shares of the business’s stock in a transaction 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 completion of the transaction, the chief executive officer now owns 538 shares in the company, valued at approximately $148,687.06. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. 0.19% of the stock is owned by corporate insiders.

Institutional Trading of Visa

A number of hedge funds and other institutional investors have recently made changes to their positions in V. WFA Asset Management Corp grew its position in Visa by 4.6% during the 1st 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 last quarter. China Universal Asset Management Co. Ltd. lifted its position in Visa by 46.9% during the 1st quarter. China Universal Asset Management Co. Ltd. now owns 50,328 shares of the credit-card processor’s stock worth $14,046,000 after acquiring an additional 16,078 shares during the period. ESG Planning DBA Harper Investing acquired a new position in shares of Visa in the first quarter valued at approximately $391,000. Moloney Securities Asset Management LLC grew its position in Visa by 3.5% in the 1st quarter. Moloney Securities Asset Management LLC now owns 21,831 shares of the credit-card processor’s stock valued at $6,093,000 after buying an additional 730 shares during the last quarter. Finally, Trust Co of Kansas increased its stake in Visa by 1.2% in the 1st quarter. Trust Co of Kansas now owns 19,036 shares of the credit-card processor’s stock valued at $5,313,000 after buying an additional 234 shares during the period. Institutional investors and hedge funds own 82.15% of the company’s stock.

Visa Stock Performance

The company has a market cap of $532.68 billion, a PE ratio of 30.04, a P/E/G ratio of 1.94 and a beta of 0.95. The stock’s 50-day simple moving average is $281.00 and its 200 day simple moving average is $273.66. The company has a debt-to-equity ratio of 0.55, a quick ratio of 1.37 and a current ratio of 1.28.

Visa (NYSE:V) last posted its quarterly earnings results on Tuesday, October 29th. The credit-card processor reported $2.71 EPS for the quarter, beating the consensus estimate of $2.58 by $0.13. Visa had a return on equity of 53.16% and a net margin of 54.96%. The business had revenue of $9.62 billion during the quarter, compared to analysts’ expectations of $9.49 billion. During the same period last year, the firm earned $2.33 EPS. The company’s quarterly revenue was up 11.7% compared to the same quarter last year. As a group, equities analysts anticipate that Visa Inc. will post 11.17 EPS for the current 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 paid a dividend of $0.59 per share. This is a positive change 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%.

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.