JPMorgan Chase & Co. Lowers Visa (NYSE:V) Price Target to $186.00

Visa (NYSE:V) had its target price lowered by JPMorgan Chase & Co. from $203.00 to $186.00 in a research note published on Wednesday morning, BenzingaRatingsTable reports. JPMorgan Chase & Co. currently has an overweight rating on the credit-card processor’s stock.

Other analysts have also recently issued research reports about the stock. Cowen boosted their target price on shares of Visa from $189.00 to $196.00 and gave the stock an outperform rating in a research note on Wednesday, May 20th. BMO Capital Markets decreased their target price on shares of Visa from $234.00 to $213.00 and set an outperform rating on the stock in a research note on Monday, May 4th. SunTrust Banks boosted their target price on shares of Visa from $200.00 to $220.00 and gave the stock a buy rating in a research note on Tuesday, June 2nd. Royal Bank of Canada boosted their target price on shares of Visa from $195.00 to $212.00 and gave the stock an outperform rating in a research note on Friday, May 1st. Finally, Wedbush boosted their target price on shares of Visa from $200.00 to $220.00 and gave the stock an outperform rating in a research note on Monday, June 1st. Seven investment analysts have rated the stock with a hold rating and twenty-two have assigned a buy rating to the company’s stock. The stock has a consensus rating of Buy and an average target price of $207.56.

Shares of NYSE V opened at $190.40 on Wednesday. The stock has a market capitalization of $377.15 billion, a price-to-earnings ratio of 36.27, a PEG ratio of 3.09 and a beta of 0.92. The business has a 50-day moving average of $194.04 and a 200-day moving average of $187.14. The company has a debt-to-equity ratio of 0.59, a current ratio of 1.55 and a quick ratio of 1.25. Visa has a fifty-two week low of $133.93 and a fifty-two week high of $214.17.

Visa (NYSE:V) last announced its quarterly earnings data on Tuesday, July 28th. The credit-card processor reported $1.07 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $1.02 by $0.05. Visa had a return on equity of 40.65% and a net margin of 51.37%. The company had revenue of $4.84 billion during the quarter, compared to analysts’ expectations of $4.85 billion. During the same quarter last year, the company earned $1.37 EPS. Visa’s revenue for the quarter was down 18.6% compared to the same quarter last year. On average, sell-side analysts expect that Visa will post 4.98 EPS for the current year.

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 1st. Stockholders of record on Friday, August 14th will be given a dividend of $0.30 per share. This represents a $1.20 annualized dividend and a dividend yield of 0.63%. The ex-dividend date is Thursday, August 13th. Visa’s dividend payout ratio (DPR) is currently 22.06%.

In other news, insider Rajat Taneja sold 3,279 shares of the firm’s stock in a transaction on Wednesday, June 10th. The shares were sold at an average price of $202.02, for a total transaction of $662,423.58. Following the sale, the insider now owns 221,282 shares in the company, valued at approximately $44,703,389.64. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, President Ryan Mcinerney sold 26,150 shares of the stock in a transaction on Wednesday, May 27th. The shares were sold at an average price of $191.87, for a total transaction of $5,017,400.50. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 50,429 shares of company stock worth $9,746,754. Corporate insiders own 0.19% of the company’s stock.

Several hedge funds have recently added to or reduced their stakes in the stock. Bowie Capital Management LLC grew its holdings in shares of Visa by 30.4% during the 2nd quarter. Bowie Capital Management LLC now owns 90,000 shares of the credit-card processor’s stock valued at $17,385,000 after purchasing an additional 21,000 shares during the last quarter. Jaffetilchin Investment Partners LLC grew its holdings in Visa by 109.6% in the 2nd quarter. Jaffetilchin Investment Partners LLC now owns 10,184 shares of the credit-card processor’s stock worth $127,000 after acquiring an additional 5,325 shares during the last quarter. Wilbanks Smith & Thomas Asset Management LLC grew its holdings in Visa by 13.1% in the 2nd quarter. Wilbanks Smith & Thomas Asset Management LLC now owns 16,523 shares of the credit-card processor’s stock worth $3,192,000 after acquiring an additional 1,909 shares during the last quarter. Lincoln National Corp grew its holdings in Visa by 13.4% in the 2nd quarter. Lincoln National Corp now owns 33,709 shares of the credit-card processor’s stock worth $6,512,000 after acquiring an additional 3,983 shares during the last quarter. Finally, Centerpoint Advisors LLC bought a new stake in Visa in the 2nd quarter worth $43,000. 81.41% of the stock is currently owned by institutional investors.

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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