Visa (NYSE:V) Price Target Raised to $206.00

Visa (NYSE:V) had its price objective hoisted by Piper Sandler from $200.00 to $206.00 in a report published on Wednesday morning, BenzingaRatingsTable reports. They currently have a neutral rating on the credit-card processor’s stock. Piper Sandler also issued estimates for Visa’s Q4 2020 earnings at $1.10 EPS, FY2020 earnings at $5.01 EPS, Q1 2021 earnings at $1.35 EPS, Q2 2021 earnings at $1.41 EPS, Q3 2021 earnings at $1.36 EPS, Q4 2021 earnings at $1.48 EPS, FY2021 earnings at $5.60 EPS, Q1 2022 earnings at $1.62 EPS, Q2 2022 earnings at $1.65 EPS, Q3 2022 earnings at $1.59 EPS and FY2022 earnings at $6.58 EPS.

A number of other research analysts have also issued reports on the stock. Stephens cut their price target on shares of Visa from $228.00 to $192.00 and set an overweight rating on the stock in a research note on Wednesday, April 1st. Wells Fargo & Co upped their price target on shares of Visa from $205.00 to $220.00 and gave the company an overweight rating in a research note on Monday, July 13th. Cowen upped their price target on shares of Visa from $189.00 to $196.00 and gave the company an outperform rating in a research note on Wednesday, May 20th. Morgan Stanley upped their price objective on shares of Visa from $196.00 to $203.00 and gave the company an overweight rating in a report on Tuesday, July 28th. Finally, UBS Group dropped their price objective on shares of Visa from $190.00 to $188.00 and set a neutral rating on the stock in a report on Friday, May 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. Visa has a consensus rating of Buy and an average price target of $207.56.

NYSE V opened at $190.40 on Wednesday. The company has a quick ratio of 1.25, a current ratio of 1.55 and a debt-to-equity ratio of 0.59. The firm has a market cap of $377.15 billion, a PE ratio of 36.27, a price-to-earnings-growth ratio of 3.09 and a beta of 0.92. The company has a 50 day moving average price of $194.04 and a 200 day moving average price of $187.14. Visa has a 52 week low of $133.93 and a 52 week high of $214.17.

Visa (NYSE:V) last issued its quarterly earnings results on Tuesday, July 28th. The credit-card processor reported $1.07 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $1.02 by $0.05. Visa had a net margin of 51.37% and a return on equity of 40.65%. The business had revenue of $4.84 billion for the quarter, compared to analyst estimates of $4.85 billion. During the same quarter in the prior year, the business posted $1.37 EPS. Visa’s revenue for the quarter was down 18.6% compared to the same quarter last year. On average, equities research analysts anticipate that Visa will post 4.98 earnings per share for the current fiscal year.

The company also recently declared a quarterly dividend, which will be paid on Tuesday, September 1st. Investors of record on Friday, August 14th will be issued a dividend of $0.30 per share. This represents a $1.20 dividend on an annualized basis and a yield of 0.63%. The ex-dividend date of this dividend is Thursday, August 13th. Visa’s dividend payout ratio (DPR) is presently 22.06%.

In other Visa news, CEO Alfred F. Kelly, Jr. sold 7,000 shares of the stock in a transaction on Friday, May 29th. The shares were sold at an average price of $194.50, for a total transaction of $1,361,500.00. Following the transaction, the chief executive officer now directly owns 136,090 shares of the company’s stock, valued at $26,469,505. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, insider Rajat Taneja sold 3,279 shares of the 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 transaction, the insider now directly owns 221,282 shares in the company, valued at $44,703,389.64. The disclosure for this sale can be found here. Insiders have sold 50,429 shares of company stock worth $9,746,754 over the last three months. 0.19% of the stock is currently owned by insiders.

A number of institutional investors and hedge funds have recently bought and sold shares of the business. Massachusetts Financial Services Co. MA increased its position in Visa by 4.3% during the first quarter. Massachusetts Financial Services Co. MA now owns 27,495,717 shares of the credit-card processor’s stock worth $4,430,109,000 after purchasing an additional 1,121,525 shares during the last quarter. Capital International Investors boosted its position in shares of Visa by 6.1% during the 1st quarter. Capital International Investors now owns 21,881,462 shares of the credit-card processor’s stock worth $3,525,557,000 after purchasing an additional 1,250,002 shares in the last quarter. Fisher Asset Management LLC boosted its position in shares of Visa by 0.6% during the 1st quarter. Fisher Asset Management LLC now owns 20,319,088 shares of the credit-card processor’s stock worth $3,273,812,000 after purchasing an additional 116,273 shares in the last quarter. Edgewood Management LLC boosted its position in shares of Visa by 1.9% during the 1st quarter. Edgewood Management LLC now owns 13,171,726 shares of the credit-card processor’s stock worth $2,122,228,000 after purchasing an additional 243,957 shares in the last quarter. Finally, Legal & General Group Plc boosted its position in shares of Visa by 3.0% during the 1st quarter. Legal & General Group Plc now owns 10,927,768 shares of the credit-card processor’s stock worth $1,762,092,000 after purchasing an additional 320,352 shares in the last quarter. 81.41% of the stock is currently 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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