Visa (NYSE:V) Given New $206.00 Price Target at Citigroup

Visa (NYSE:V) had its price objective upped by Citigroup from $185.00 to $206.00 in a research report sent to investors on Monday, BenzingaRatingsTable reports. The brokerage currently has a buy rating on the credit-card processor’s stock.

Several other research firms also recently commented on V. Raymond James increased their price objective on Visa from $177.00 to $193.00 and gave the company an outperform rating in a report on Wednesday, July 24th. Barclays increased their price objective on Visa from $181.00 to $195.00 and gave the company an overweight rating in a report on Friday, July 19th. JPMorgan Chase & Co. increased their price objective on Visa from $166.00 to $182.00 and gave the company an overweight rating in a report on Wednesday, July 24th. Bank of America increased their price objective on Visa from $177.00 to $192.00 and gave the company a buy rating in a report on Monday, June 17th. Finally, Wedbush reissued an outperform rating on shares of Visa in a report on Wednesday, July 3rd. Three investment analysts have rated the stock with a hold rating and twenty-two have given a buy rating to the stock. The stock currently has an average rating of Buy and a consensus price target of $196.57.

Shares of V opened at $177.98 on Monday. The stock has a market capitalization of $352.48 billion, a P/E ratio of 38.61, a P/E/G ratio of 2.04 and a beta of 0.97. Visa has a twelve month low of $121.60 and a twelve month high of $187.05. The company has a 50 day moving average of $179.24 and a 200-day moving average of $167.08. The company has a quick ratio of 1.69, a current ratio of 1.69 and a debt-to-equity ratio of 0.57.



Visa (NYSE:V) last issued its quarterly earnings results on Tuesday, July 23rd. The credit-card processor reported $1.37 earnings per share for the quarter, topping the consensus estimate of $1.33 by $0.04. The company had revenue of $5.84 billion during the quarter, compared to analysts’ expectations of $5.70 billion. Visa had a net margin of 53.43% and a return on equity of 41.04%. The business’s quarterly revenue was up 11.5% on a year-over-year basis. During the same period last year, the business earned $1.20 EPS. On average, sell-side analysts anticipate that Visa will post 5.4 earnings per share for the current fiscal year.

The firm also recently declared a quarterly dividend, which was paid on Tuesday, September 3rd. Shareholders of record on Friday, August 16th were issued a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a yield of 0.56%. The ex-dividend date of this dividend was Thursday, August 15th. Visa’s dividend payout ratio is 21.69%.

In other Visa news, Director Lloyd Carney sold 3,500 shares of the firm’s stock in a transaction on Friday, July 26th. The stock was sold at an average price of $182.73, for a total transaction of $639,555.00. Following the completion of the sale, the director now owns 3,452 shares of the company’s stock, valued at approximately $630,783.96. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Denise M. Morrison purchased 1,000 shares of the business’s stock in a transaction on Tuesday, August 6th. The shares were acquired at an average cost of $171.13 per share, with a total value of $171,130.00. Following the acquisition, the director now directly owns 3,223 shares in the company, valued at $551,551.99. The disclosure for this purchase can be found here. Company insiders own 0.17% of the company’s stock.

A number of institutional investors have recently made changes to their positions in V. Krane Funds Advisors LLC acquired a new stake in shares of Visa during the second quarter worth $26,000. Lowe Wealth Advisors LLC increased its position in shares of Visa by 114.7% in the second quarter. Lowe Wealth Advisors LLC now owns 161 shares of the credit-card processor’s stock worth $28,000 after purchasing an additional 86 shares during the period. Personal Wealth Partners bought a new position in shares of Visa in the second quarter worth $30,000. Essex Investment Management Co. LLC bought a new position in shares of Visa in the fourth quarter worth $33,000. Finally, Mcmillion Capital Management Inc. bought a new position in shares of Visa in the second quarter worth $38,000. 81.20% of the stock is owned by institutional investors and hedge funds.

About Visa

Visa Inc operates as a payments technology company worldwide. The company facilitates commerce through the transfer of value and information among consumers, merchants, financial institutions, businesses, strategic partners, and government entities. It operates VisaNet, a processing network that enables authorization, clearing, and settlement of payment transactions; and offers fraud protection for account holders and assured payment for merchants.

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Analyst Recommendations for Visa (NYSE:V)

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