Visa (NYSE:V) had its price objective increased by equities researchers at Loop Capital to $142.00 in a report issued on Friday, February 2nd. The firm currently has a “buy” rating on the credit-card processor’s stock. Loop Capital’s target price suggests a potential upside of 20.67% from the stock’s previous close.
V has been the topic of several other reports. Wells Fargo & Co upgraded shares of Visa from a “market perform” rating to an “outperform” rating and boosted their price target for the stock from $107.01 to $120.00 in a report on Tuesday, October 10th. Barclays boosted their price target on shares of Visa from $114.00 to $123.00 and gave the stock an “overweight” rating in a report on Wednesday, October 18th. KeyCorp reaffirmed a “buy” rating and issued a $118.00 price objective on shares of Visa in a research report on Wednesday, October 18th. Morgan Stanley boosted their price target on shares of Visa from $114.00 to $125.00 and gave the company an “overweight” rating in a research report on Friday, October 20th. Finally, Zacks Investment Research lowered shares of Visa from a “buy” rating to a “hold” rating in a research report on Tuesday, December 26th. Two research analysts have rated the stock with a hold rating, thirty-one have given a buy rating and one has given a strong buy rating to the company’s stock. Visa has a consensus rating of “Buy” and an average target price of $133.85.
Visa (NYSE V) traded up $1.36 during mid-day trading on Friday, hitting $117.68. 2,642,273 shares of the stock traded hands, compared to its average volume of 8,728,324. The company has a market capitalization of $263,600.00, a P/E ratio of 39.06, a P/E/G ratio of 1.54 and a beta of 1.03. Visa has a 12-month low of $86.00 and a 12-month high of $126.88. The company has a debt-to-equity ratio of 0.60, a current ratio of 2.07 and a quick ratio of 2.07.
Visa (NYSE:V) last announced its earnings results on Thursday, February 1st. The credit-card processor reported $1.08 earnings per share for the quarter, topping analysts’ consensus estimates of $0.98 by $0.10. The business had revenue of $4.86 billion during the quarter, compared to the consensus estimate of $4.82 billion. Visa had a net margin of 38.12% and a return on equity of 32.97%. Visa’s quarterly revenue was up 9.0% on a year-over-year basis. During the same quarter last year, the firm earned $0.86 earnings per share. sell-side analysts expect that Visa will post 4.36 earnings per share for the current year.
Visa announced that its Board of Directors has approved a stock buyback plan on Thursday, February 1st that permits the company to buyback $7.50 billion in outstanding shares. This buyback authorization permits the credit-card processor to purchase shares of its stock through open market purchases. Shares buyback plans are generally a sign that the company’s board believes its stock is undervalued.
In other Visa news, SVP James H. Hoffmeister sold 2,146 shares of the firm’s stock in a transaction that occurred on Monday, November 27th. The shares were sold at an average price of $112.09, for a total transaction of $240,545.14. Following the sale, the senior vice president now owns 687 shares in the company, valued at approximately $77,005.83. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, EVP Tullier Kelly Mahon sold 49,702 shares of the firm’s stock in a transaction that occurred on Friday, December 15th. The stock was sold at an average price of $113.66, for a total transaction of $5,649,129.32. Following the sale, the executive vice president now owns 76,202 shares in the company, valued at approximately $8,661,119.32. The disclosure for this sale can be found here. In the last three months, insiders sold 58,068 shares of company stock worth $6,597,262. 0.14% of the stock is currently owned by insiders.
Institutional investors have recently added to or reduced their stakes in the company. Roble Belko & Company Inc grew its holdings in shares of Visa by 220.8% in the fourth quarter. Roble Belko & Company Inc now owns 879 shares of the credit-card processor’s stock valued at $100,000 after purchasing an additional 605 shares in the last quarter. Welch Investments LLC purchased a new position in shares of Visa in the third quarter valued at $101,000. Cordasco Financial Network purchased a new position in shares of Visa in the third quarter valued at $105,000. Fusion Family Wealth LLC grew its holdings in shares of Visa by 138.8% in the fourth quarter. Fusion Family Wealth LLC now owns 955 shares of the credit-card processor’s stock valued at $109,000 after purchasing an additional 555 shares in the last quarter. Finally, Motco grew its holdings in shares of Visa by 25.1% in the second quarter. Motco now owns 1,176 shares of the credit-card processor’s stock valued at $110,000 after purchasing an additional 236 shares in the last quarter. Hedge funds and other institutional investors own 81.28% of the company’s stock.
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Visa Inc (Visa) is a payments technology company that connects consumers, merchants, financial institutions, businesses, strategic partners and government entities to electronic payments. The Company operates through payment services segment. The Company enables global commerce through the transfer of value and information among the participants.
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