Visa (NYSE:V) Given New $321.00 Price Target at Citigroup

Visa (NYSE:V) had its price objective upped by Citigroup from $314.00 to $321.00 in a report released on Wednesday, Benzinga reports. The firm currently has a buy rating on the credit-card processor’s stock.

Several other equities research analysts also recently issued reports on V. Redburn Atlantic restated a neutral rating and set a $307.00 target price on shares of Visa in a research report on Wednesday, March 27th. Barclays increased their target price on Visa from $304.00 to $319.00 and gave the stock an overweight rating in a research report on Monday, January 29th. Keefe, Bruyette & Woods increased their target price on Visa from $305.00 to $315.00 and gave the stock an outperform rating in a research report on Friday, January 26th. Wells Fargo & Company upped their price target on shares of Visa from $300.00 to $325.00 and gave the stock an overweight rating in a report on Wednesday, March 6th. Finally, Evercore ISI upped their price target on shares of Visa from $325.00 to $335.00 and gave the stock an outperform rating in a report on Tuesday, March 26th. Five analysts have rated the stock with a hold rating and twenty have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of Moderate Buy and a consensus target price of $302.58.

Visa Price Performance

Visa stock opened at $274.52 on Wednesday. Visa has a 12 month low of $216.14 and a 12 month high of $290.96. The company has a current ratio of 1.40, a quick ratio of 1.45 and a debt-to-equity ratio of 0.53. The business’s 50 day simple moving average is $279.24 and its 200 day simple moving average is $264.52. The company has a market cap of $504.16 billion, a price-to-earnings ratio of 30.67, a PEG ratio of 1.89 and a beta of 0.96.

Visa (NYSE:V) last posted its earnings results on Tuesday, April 23rd. The credit-card processor reported $2.51 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.43 by $0.08. The firm had revenue of $8.78 billion for the quarter, compared to the consensus estimate of $8.62 billion. Visa had a return on equity of 51.23% and a net margin of 53.87%. The business’s quarterly revenue was up 9.9% on a year-over-year basis. During the same quarter in the prior year, the business posted $2.09 earnings per share. Sell-side analysts forecast that Visa will post 9.89 EPS for the current year.

Visa Dividend Announcement

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

Insider Buying and Selling at Visa

In other Visa news, CEO Ryan Mcinerney sold 8,150 shares of the company’s stock in a transaction dated Thursday, February 1st. The shares were sold at an average price of $273.39, for a total transaction of $2,228,128.50. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. In other Visa news, CEO Ryan Mcinerney sold 8,150 shares of the company’s stock in a transaction dated Thursday, February 1st. The shares were sold at an average price of $273.39, for a total transaction of $2,228,128.50. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, CAO Peter M. Andreski sold 2,615 shares of the company’s stock in a transaction dated 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 $1,365,954.24. The disclosure for this sale can be found here. Insiders sold a total of 19,874 shares of company stock worth $5,506,827 over the last three months. Company insiders own 0.19% of the company’s stock.

Institutional Trading of Visa

A number of institutional investors have recently modified their holdings of V. Trifecta Capital Advisors LLC boosted its holdings in shares of Visa by 2.7% during the third quarter. Trifecta Capital Advisors LLC now owns 20,176 shares of the credit-card processor’s stock worth $4,641,000 after purchasing an additional 536 shares during the period. Buttonwood Financial Advisors Inc. boosted its holdings in shares of Visa by 6.0% during the third quarter. Buttonwood Financial Advisors Inc. now owns 16,590 shares of the credit-card processor’s stock worth $3,816,000 after purchasing an additional 933 shares during the period. Trust Co. of Oklahoma boosted its holdings in shares of Visa by 1.5% during the third quarter. Trust Co. of Oklahoma now owns 31,365 shares of the credit-card processor’s stock worth $7,214,000 after purchasing an additional 453 shares during the period. Relyea Zuckerberg Hanson LLC boosted its holdings in shares of Visa by 1.6% during the third quarter. Relyea Zuckerberg Hanson LLC now owns 5,370 shares of the credit-card processor’s stock worth $1,235,000 after purchasing an additional 86 shares during the period. Finally, Naples Global Advisors LLC boosted its holdings in shares of Visa by 29.8% during the third quarter. Naples Global Advisors LLC now owns 6,747 shares of the credit-card processor’s stock worth $1,552,000 after purchasing an additional 1,550 shares during the period. 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.