Visa (NYSE:V) Price Target Raised to $300.00

Visa (NYSE:V) had its price objective upped by Wedbush from $280.00 to $300.00 in a report issued on Wednesday, Benzinga reports. They currently have an outperform rating on the credit-card processor’s stock.

V has been the subject of several other reports. KeyCorp upped their price objective on shares of Visa from $275.00 to $300.00 and gave the company an overweight rating in a research note on Monday, January 8th. Citigroup boosted their price target on shares of Visa from $296.00 to $306.00 and gave the company a buy rating in a research report on Thursday, January 18th. UBS Group boosted their price target on shares of Visa from $305.00 to $315.00 and gave the company a buy rating in a research report on Friday, January 26th. Mizuho restated a neutral rating and issued a $265.00 price objective on shares of Visa in a report on Wednesday, March 27th. Finally, TD Cowen assumed coverage on shares of Visa in a report on Thursday, April 11th. They issued a buy rating and a $320.00 price objective on the stock. Five equities research analysts have rated the stock with a hold rating and twenty have given a buy rating to the company. Based on data from MarketBeat.com, Visa currently has a consensus rating of Moderate Buy and a consensus target price of $302.58.

Visa Stock Performance

Visa stock opened at $274.52 on Wednesday. The company has a quick ratio of 1.45, a current ratio of 1.40 and a debt-to-equity ratio of 0.53. The company has a market capitalization of $504.16 billion, a PE ratio of 30.67, a P/E/G ratio of 1.89 and a beta of 0.96. The firm has a fifty day simple moving average of $279.24 and a two-hundred day simple moving average of $264.52. Visa has a twelve month low of $216.14 and a twelve month high of $290.96.

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

Visa Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, June 3rd. Investors of record on Friday, May 17th will be given a dividend of $0.52 per share. 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 (DPR) is 23.24%.

Insider Activity at Visa

In related news, CAO Peter M. Andreski sold 2,615 shares of the stock in a transaction that occurred 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 transaction, the chief accounting officer now owns 4,898 shares in the company, valued at $1,365,954.24. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In other Visa news, Director Lloyd Carney sold 909 shares of the stock in a transaction that occurred on Friday, April 26th. The shares were sold at an average price of $275.55, for a total value of $250,474.95. Following the transaction, the director now directly owns 2,591 shares in the company, valued at $713,950.05. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CAO Peter M. Andreski sold 2,615 shares of the stock in a transaction that occurred on Wednesday, February 7th. The stock was sold at an average price of $278.88, for a total transaction of $729,271.20. Following the completion of the transaction, the chief accounting officer now owns 4,898 shares in the company, valued at $1,365,954.24. 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. Company insiders own 0.19% of the company’s stock.

Institutional Trading of Visa

Several institutional investors and hedge funds have recently modified their holdings of the company. Riverwater Partners LLC raised its position in shares of Visa by 12.0% during the 1st quarter. Riverwater Partners LLC now owns 3,388 shares of the credit-card processor’s stock valued at $946,000 after purchasing an additional 364 shares during the period. Weatherly Asset Management L. P. raised its position in shares of Visa by 1.8% during the 1st quarter. Weatherly Asset Management L. P. now owns 50,213 shares of the credit-card processor’s stock valued at $14,013,000 after purchasing an additional 909 shares during the period. James Hambro & Partners raised its position in shares of Visa by 2.0% during the 1st quarter. James Hambro & Partners now owns 437,968 shares of the credit-card processor’s stock valued at $122,067,000 after purchasing an additional 8,392 shares during the period. Nadler Financial Group Inc. raised its position in shares of Visa by 3.8% during the 1st quarter. Nadler Financial Group Inc. now owns 1,972 shares of the credit-card processor’s stock valued at $550,000 after purchasing an additional 72 shares during the period. Finally, K.J. Harrison & Partners Inc grew its stake in Visa by 0.9% during the first quarter. K.J. Harrison & Partners Inc now owns 25,837 shares of the credit-card processor’s stock valued at $7,211,000 after acquiring an additional 222 shares in the last quarter. 82.15% of the stock is currently owned by institutional investors.

Visa Company Profile

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.