Visa (NYSE:V) Given New $285.00 Price Target at Credit Suisse Group

Visa (NYSE:V) had its price target upped by Credit Suisse Group from $280.00 to $285.00 in a research note issued to investors on Tuesday, Analyst Ratings Network reports. Credit Suisse Group currently has an outperform rating on the credit-card processor’s stock.

A number of other brokerages have also recently commented on V. Royal Bank of Canada reissued a buy rating on shares of Visa in a research note on Wednesday, May 5th. Mizuho lifted their price objective on shares of Visa from $250.00 to $275.00 and gave the stock a buy rating in a research note on Wednesday, April 28th. Daiwa Capital Markets raised shares of Visa from a neutral rating to an outperform rating and set a $259.00 price objective for the company in a research note on Tuesday, May 18th. Jefferies Financial Group raised their target price on shares of Visa from $260.00 to $275.00 and gave the stock a buy rating in a report on Wednesday, April 28th. Finally, Susquehanna raised their target price on shares of Visa from $250.00 to $265.00 and gave the stock a positive rating in a report on Wednesday, April 28th. Twenty-four equities research analysts have rated the stock with a buy rating, Visa currently has a consensus rating of Buy and a consensus price target of $254.46.

V opened at $233.95 on Tuesday. The stock has a market capitalization of $455.73 billion, a PE ratio of 48.34, a price-to-earnings-growth ratio of 2.20 and a beta of 1.00. The company’s fifty day moving average is $227.07. Visa has a fifty-two week low of $179.23 and a fifty-two week high of $237.50. The company has a quick ratio of 2.12, a current ratio of 2.12 and a debt-to-equity ratio of 0.61.

Visa (NYSE:V) last issued its quarterly earnings data on Tuesday, April 27th. The credit-card processor reported $1.38 EPS for the quarter, topping analysts’ consensus estimates of $1.26 by $0.12. Visa had a net margin of 49.93% and a return on equity of 33.86%. The business had revenue of $5.73 billion during the quarter, compared to analysts’ expectations of $5.54 billion. During the same period last year, the company posted $1.39 EPS. The business’s revenue was down 2.1% on a year-over-year basis. On average, analysts anticipate that Visa will post 5.57 earnings per share for the current year.

The firm also recently announced a quarterly dividend, which was paid on Tuesday, June 1st. Shareholders of record on Friday, May 14th were given a dividend of $0.32 per share. This represents a $1.28 dividend on an annualized basis and a yield of 0.55%. The ex-dividend date of this dividend was Thursday, May 13th. Visa’s dividend payout ratio (DPR) is 25.40%.

In other news, CEO Alfred F. Kelly, Jr. sold 9,000 shares of Visa stock in a transaction that occurred on Friday, April 30th. The shares were sold at an average price of $235.32, for a total value of $2,117,880.00. Following the transaction, the chief executive officer now owns 160,112 shares of the company’s stock, valued at approximately $37,677,555.84. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, President Ryan Mcinerney sold 11,193 shares of Visa stock in a transaction that occurred on Monday, May 3rd. The stock was sold at an average price of $234.05, for a total transaction of $2,619,721.65. Following the completion of the transaction, the president now directly owns 11,193 shares in the company, valued at approximately $2,619,721.65. The disclosure for this sale can be found here. Insiders have sold a total of 118,611 shares of company stock worth $26,847,669 in the last three months. Insiders own 0.19% of the company’s stock.

Institutional investors have recently modified their holdings of the company. OLD Mission Capital LLC purchased a new stake in Visa during the 3rd quarter worth approximately $373,000. FWL Investment Management LLC purchased a new stake in Visa during the 4th quarter worth approximately $3,668,000. Sage Mountain Advisors LLC purchased a new stake in Visa during the 4th quarter worth approximately $1,120,000. Eagle Capital Management LLC grew its position in Visa by 0.7% during the 4th quarter. Eagle Capital Management LLC now owns 27,580 shares of the credit-card processor’s stock worth $6,033,000 after purchasing an additional 195 shares during the last quarter. Finally, Assenagon Asset Management S.A. grew its position in Visa by 57.9% during the 4th quarter. Assenagon Asset Management S.A. now owns 6,905 shares of the credit-card processor’s stock worth $1,510,000 after purchasing an additional 2,533 shares during the last quarter. 81.35% of the stock is currently owned by hedge funds and other institutional investors.

About Visa

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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Analyst Recommendations for Visa (NYSE:V)

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