Visa (NYSE:V) Price Target Raised to $299.00

Visa (NYSE:V) had its price target boosted by Oppenheimer from $297.00 to $299.00 in a research report sent to investors on Wednesday, Benzinga reports. They currently have an outperform rating on the credit-card processor’s stock.

V has been the subject of a number of other reports. Robert W. Baird increased their target price on shares of Visa from $314.00 to $320.00 and gave the company an outperform rating in a report on Wednesday, April 17th. Mizuho reiterated a neutral rating and set a $265.00 target price on shares of Visa in a research report on Wednesday, March 27th. TD Cowen initiated coverage on Visa in a research report on Thursday, April 11th. They issued a buy rating and a $320.00 price target for the company. UBS Group boosted their price objective on shares of Visa from $305.00 to $315.00 and gave the stock a buy rating in a research report on Friday, January 26th. Finally, William Blair restated an outperform rating on shares of Visa in a report on Friday, January 26th. Five analysts have rated the stock with a hold rating and twenty have given a buy rating to the company. According to MarketBeat, the company presently has an average rating of Moderate Buy and an average target price of $302.58.

Visa Stock Down 0.2 %

Visa stock opened at $274.58 on Wednesday. The stock’s 50 day moving average price is $279.24 and its 200 day moving average price is $264.33. Visa has a 1-year low of $216.14 and a 1-year high of $290.96. The company has a market cap of $504.27 billion, a PE ratio of 30.68, a price-to-earnings-growth ratio of 1.90 and a beta of 0.96. The company has a debt-to-equity ratio of 0.53, a current ratio of 1.40 and a quick ratio of 1.45.

Visa (NYSE:V) last issued its earnings results on Tuesday, April 23rd. The credit-card processor reported $2.51 EPS for the quarter, topping the consensus estimate of $2.43 by $0.08. The company had revenue of $8.78 billion for the quarter, compared to analyst estimates of $8.62 billion. Visa had a net margin of 53.87% and a return on equity of 51.23%. The business’s revenue was up 9.9% on a year-over-year basis. During the same period in the previous year, the firm earned $2.09 EPS. On average, sell-side analysts predict that Visa will post 9.89 EPS for the current fiscal year.

Visa Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, June 3rd. Investors of record on Friday, May 17th will be issued a $0.52 dividend. The ex-dividend date is Thursday, May 16th. This represents a $2.08 annualized dividend and a yield of 0.76%. Visa’s dividend payout ratio is currently 23.24%.

Insiders Place Their Bets

In other Visa news, CAO Peter M. Andreski sold 2,615 shares of the company’s stock in a transaction that occurred on Wednesday, February 7th. The stock was sold at an average price of $278.88, for a total value of $729,271.20. Following the completion of the transaction, the chief accounting officer now owns 4,898 shares in the company, valued at approximately $1,365,954.24. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In related news, CAO Peter M. Andreski sold 2,615 shares of Visa stock in a transaction on Wednesday, February 7th. The shares were sold at an average price of $278.88, for a total transaction of $729,271.20. Following the sale, the chief accounting officer now owns 4,898 shares of the company’s stock, valued at approximately $1,365,954.24. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Lloyd Carney sold 909 shares of the business’s stock in a transaction on Friday, April 26th. The stock was sold at an average price of $275.55, for a total transaction of $250,474.95. Following the completion of the transaction, the director now owns 2,591 shares in the company, valued at approximately $713,950.05. The disclosure for this sale can be found here. Insiders have sold a total of 19,874 shares of company stock worth $5,506,827 over the last quarter. 0.19% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Visa

Several hedge funds and other institutional investors have recently bought and sold shares of V. Alaethes Wealth LLC boosted its stake in Visa by 0.4% in the fourth quarter. Alaethes Wealth LLC now owns 8,843 shares of the credit-card processor’s stock worth $2,302,000 after purchasing an additional 37 shares in the last quarter. Jessup Wealth Management Inc raised its holdings in shares of Visa by 0.7% in the first quarter. Jessup Wealth Management Inc now owns 5,051 shares of the credit-card processor’s stock valued at $1,410,000 after buying an additional 37 shares during the last quarter. Long Run Wealth Advisors LLC lifted its position in Visa by 2.5% during the 1st quarter. Long Run Wealth Advisors LLC now owns 1,519 shares of the credit-card processor’s stock worth $424,000 after buying an additional 37 shares in the last quarter. Garden State Investment Advisory Services LLC increased its position in Visa by 1.8% in the 4th quarter. Garden State Investment Advisory Services LLC now owns 2,191 shares of the credit-card processor’s stock valued at $571,000 after acquiring an additional 38 shares in the last quarter. Finally, Aurora Private Wealth Inc. raised its stake in shares of Visa by 3.8% in the first quarter. Aurora Private Wealth Inc. now owns 1,036 shares of the credit-card processor’s stock worth $289,000 after acquiring an additional 38 shares during the last quarter. 82.15% of the stock is currently owned by hedge funds and other institutional investors.

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.