Visa (NYSE:V) Price Target Lowered to $361.00 at Truist Financial

Visa (NYSE:V) had its price objective trimmed by Truist Financial from $372.00 to $361.00 in a research note published on Friday morning, MarketBeat.com reports. The brokerage currently has a buy rating on the credit-card processor’s stock.

V has been the topic of a number of other research reports. Bank of America initiated coverage on Visa in a report on Thursday, March 5th. They issued a “buy” rating and a $410.00 target price on the stock. Citigroup cut their target price on Visa from $450.00 to $400.00 and set a “buy” rating for the company in a research note on Tuesday, April 14th. Weiss Ratings downgraded Visa from a “buy (b-)” rating to a “hold (c+)” rating in a research note on Thursday, April 16th. Morgan Stanley reissued an “overweight” rating and set a $411.00 target price (up from $398.00) on shares of Visa in a research note on Friday, January 30th. Finally, Piper Sandler set a $160.00 target price on Visa in a research note on Wednesday, January 28th. Seven analysts have rated the stock with a Strong Buy rating, nineteen have assigned a Buy rating and three have given a Hold rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Buy” and a consensus price target of $387.79.

Visa Stock Up 0.3%

Visa stock opened at $309.66 on Friday. Visa has a fifty-two week low of $293.89 and a fifty-two week high of $375.51. The company has a debt-to-equity ratio of 0.51, a quick ratio of 1.11 and a current ratio of 1.11. The company has a market capitalization of $562.09 billion, a P/E ratio of 29.05, a PEG ratio of 1.77 and a beta of 0.80. The stock has a 50-day simple moving average of $309.88 and a 200-day simple moving average of $328.16.

Visa (NYSE:V) last issued its quarterly earnings data on Thursday, January 29th. The credit-card processor reported $3.17 earnings per share for the quarter, beating analysts’ consensus estimates of $3.14 by $0.03. Visa had a return on equity of 61.74% and a net margin of 50.23%.The company had revenue of $10.90 billion during the quarter, compared to analysts’ expectations of $10.69 billion. During the same quarter in the previous year, the business earned $2.75 earnings per share. The firm’s revenue for the quarter was up 14.6% on a year-over-year basis. Equities research analysts expect that Visa will post 12.84 earnings per share for the current year.

Visa Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, March 2nd. Investors of record on Tuesday, February 10th were paid a $0.67 dividend. This represents a $2.68 annualized dividend and a yield of 0.9%. The ex-dividend date of this dividend was Tuesday, February 10th. Visa’s dividend payout ratio (DPR) is presently 25.14%.

Insiders Place Their Bets

In related news, Director Lloyd Carney sold 650 shares of the firm’s stock in a transaction that occurred on Wednesday, March 11th. The stock was sold at an average price of $309.62, for a total value of $201,253.00. Following the completion of the transaction, the director directly owned 2,679 shares of the company’s stock, valued at $829,471.98. This trade represents a 19.53% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. 0.12% of the stock is owned by insiders.

Hedge Funds Weigh In On Visa

Several hedge funds have recently bought and sold shares of the stock. Vanguard Group Inc. increased its position in Visa by 0.7% during the fourth quarter. Vanguard Group Inc. now owns 160,975,832 shares of the credit-card processor’s stock worth $56,455,834,000 after buying an additional 1,054,343 shares in the last quarter. State Street Corp increased its position in Visa by 0.8% during the fourth quarter. State Street Corp now owns 82,798,151 shares of the credit-card processor’s stock worth $29,038,140,000 after buying an additional 626,821 shares in the last quarter. Geode Capital Management LLC increased its position in Visa by 0.9% during the fourth quarter. Geode Capital Management LLC now owns 44,042,586 shares of the credit-card processor’s stock worth $15,411,395,000 after buying an additional 388,996 shares in the last quarter. Price T Rowe Associates Inc. MD increased its position in Visa by 1.8% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 41,092,294 shares of the credit-card processor’s stock worth $14,411,480,000 after buying an additional 716,218 shares in the last quarter. Finally, Capital World Investors increased its position in Visa by 0.8% during the third quarter. Capital World Investors now owns 24,792,246 shares of the credit-card processor’s stock worth $8,463,484,000 after buying an additional 193,288 shares in the last quarter. Hedge funds and other institutional investors own 82.15% of the company’s stock.

About Visa

Visa Inc is a global payments technology company that facilitates electronic funds transfers and digital commerce by connecting consumers, merchants, financial institutions and governments. The firm operates one of the world’s largest payment networks, providing processing, authorization, clearing and settlement services for credit, debit and prepaid card transactions. Visa’s network-based model enables partner banks and other issuers to offer branded payment products while Visa focuses on the infrastructure, standards and technologies that move money securely and efficiently around the world.

Visa’s product and service portfolio includes card-based payment products for consumers and businesses, real-time push-payment capabilities, tokenization and authentication services, fraud and risk-management tools, data analytics and APIs for fintech and merchant integration.