Visa Inc. (NYSE:V) – Equities researchers at Jefferies Financial Group reduced their Q3 2021 EPS estimates for Visa in a research note issued on Wednesday, January 13th. Jefferies Financial Group analyst T. Williams now anticipates that the credit-card processor will earn $1.26 per share for the quarter, down from their previous forecast of $1.30. Jefferies Financial Group currently has a “Buy” rating and a $250.00 target price on the stock. Jefferies Financial Group also issued estimates for Visa’s Q1 2022 earnings at $1.71 EPS and FY2023 earnings at $8.46 EPS.
Several other equities analysts have also issued reports on the company. Oppenheimer restated a “buy” rating and set a $212.00 target price (down from $233.00) on shares of Visa in a research report on Thursday, October 29th. Credit Suisse Group decreased their price objective on shares of Visa from $235.00 to $230.00 and set an “outperform” rating for the company in a report on Thursday, October 29th. Barclays reiterated a “buy” rating and issued a $230.00 target price on shares of Visa in a report on Tuesday, December 22nd. Raymond James decreased their price target on shares of Visa from $217.00 to $211.00 and set an “outperform” rating for the company in a report on Thursday, October 29th. Finally, Piper Sandler raised their price objective on Visa from $200.00 to $220.00 and gave the stock a “neutral” rating in a research note on Wednesday, December 2nd. Six equities research analysts have rated the stock with a hold rating and twenty-six have issued a buy rating to the stock. The company has an average rating of “Buy” and a consensus price target of $222.07.
Visa (NYSE:V) last posted its quarterly earnings results on Wednesday, October 28th. The credit-card processor reported $1.12 earnings per share for the quarter, beating the Zacks’ consensus estimate of $1.09 by $0.03. Visa had a return on equity of 40.65% and a net margin of 51.37%. The company had revenue of $5.10 billion for the quarter, compared to the consensus estimate of $5.03 billion.
Several hedge funds have recently bought and sold shares of V. Great West Life Assurance Co. Can boosted its holdings in shares of Visa by 290.9% during the 3rd quarter. Great West Life Assurance Co. Can now owns 7,106,202 shares of the credit-card processor’s stock worth $345,975,000 after buying an additional 5,288,239 shares during the period. TCI Fund Management Ltd. boosted its holdings in shares of Visa by 25.3% during the third quarter. TCI Fund Management Ltd. now owns 14,057,890 shares of the credit-card processor’s stock worth $2,811,156,000 after acquiring an additional 2,842,505 shares during the period. Egerton Capital UK LLP acquired a new position in shares of Visa in the third quarter valued at approximately $422,799,000. Morgan Stanley increased its stake in shares of Visa by 6.2% during the third quarter. Morgan Stanley now owns 33,936,061 shares of the credit-card processor’s stock worth $6,786,197,000 after purchasing an additional 1,975,972 shares during the period. Finally, Jennison Associates LLC lifted its holdings in Visa by 14.4% during the 3rd quarter. Jennison Associates LLC now owns 14,568,221 shares of the credit-card processor’s stock worth $2,913,207,000 after purchasing an additional 1,828,404 shares during the last quarter. 80.74% of the stock is currently owned by institutional investors and hedge funds.
In other Visa news, CEO Alfred F. Kelly, Jr. sold 9,000 shares of the stock in a transaction on Monday, November 30th. The shares were sold at an average price of $209.40, for a total value of $1,884,600.00. Following the completion of the sale, the chief executive officer now owns 132,660 shares in the company, valued at $27,779,004. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, CAO James H. Hoffmeister sold 2,157 shares of Visa stock in a transaction dated Wednesday, December 2nd. The shares were sold at an average price of $208.87, for a total transaction of $450,532.59. The disclosure for this sale can be found here. Insiders sold a total of 80,205 shares of company stock valued at $17,188,463 in the last 90 days. 0.19% of the stock is owned by corporate insiders.
Visa Company Profile
Visa Inc operates as a payments technology company worldwide. The company facilitates digital payments among consumers, merchants, financial institutions, businesses, strategic partners, and government entities. It operates VisaNet, a transaction processing network that enables authorization, clearing, and settlement of payment transactions.
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