Wells Fargo & Company Boosts Visa (NYSE:V) Price Target to $240.00

Visa (NYSE:V) had its price target boosted by Wells Fargo & Company from $210.00 to $240.00 in a research note issued to investors on Thursday, The Fly reports. The brokerage currently has an overweight rating on the credit-card processor’s stock.

Other research analysts have also issued research reports about the stock. Barclays upped their price target on shares of Visa from $225.00 to $235.00 and gave the company an overweight rating in a research note on Wednesday, October 21st. Mizuho restated a buy rating and set a $250.00 price target on shares of Visa in a research note on Thursday, October 8th. Credit Suisse Group cut their price objective on shares of Visa from $235.00 to $230.00 and set an outperform rating on the stock in a research note on Thursday, October 29th. Piper Sandler cut their price objective on shares of Visa from $206.00 to $200.00 and set a neutral rating on the stock in a research note on Thursday, October 29th. Finally, Bank of America increased their price objective on shares of Visa from $227.00 to $234.00 and gave the stock a buy rating in a research note on Thursday, August 27th. Six research analysts have rated the stock with a hold rating and twenty-four have assigned a buy rating to the company’s stock. The stock has a consensus rating of Buy and an average target price of $217.14.

NYSE:V opened at $203.88 on Thursday. Visa has a 52 week low of $133.93 and a 52 week high of $217.65. The firm has a 50 day moving average of $200.14 and a 200 day moving average of $197.12. The company has a quick ratio of 1.55, a current ratio of 1.55 and a debt-to-equity ratio of 0.59. The stock has a market capitalization of $396.01 billion, a price-to-earnings ratio of 38.83, a PEG ratio of 2.59 and a beta of 0.91.

Visa (NYSE:V) last posted its earnings results on Wednesday, October 28th. The credit-card processor reported $1.12 EPS for the quarter, beating the Zacks’ consensus estimate of $1.09 by $0.03. Visa had a net margin of 51.37% and a return on equity of 40.65%. As a group, analysts expect that Visa will post 5.01 EPS for the current year.

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 1st. Shareholders of record on Friday, November 13th will be issued a dividend of $0.32 per share. This represents a $1.28 annualized dividend and a yield of 0.63%. This is an increase from Visa’s previous quarterly dividend of $0.30. The ex-dividend date is Thursday, November 12th. Visa’s dividend payout ratio (DPR) is presently 23.53%.

In other news, CEO Alfred F. Kelly, Jr. sold 7,000 shares of the firm’s stock in a transaction dated Friday, August 28th. The shares were sold at an average price of $212.00, for a total value of $1,484,000.00. Following the transaction, the chief executive officer now directly owns 127,090 shares of the company’s stock, valued at $26,943,080. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Rajat Taneja sold 45,036 shares of the firm’s stock in a transaction dated Friday, August 28th. The stock was sold at an average price of $214.00, for a total transaction of $9,637,704.00. Following the completion of the transaction, the insider now directly owns 230,851 shares in the company, valued at $49,402,114. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 113,072 shares of company stock worth $23,627,774. Insiders own 0.19% of the company’s stock.

A number of hedge funds have recently modified their holdings of the business. Claudia M.P. Batlle CRP R LLC purchased a new position in Visa during the third quarter worth about $3,144,000. Advisor Partners LLC increased its position in shares of Visa by 0.7% during the third quarter. Advisor Partners LLC now owns 71,382 shares of the credit-card processor’s stock valued at $14,274,000 after acquiring an additional 526 shares during the last quarter. Paces Ferry Wealth Advisors LLC acquired a new stake in shares of Visa during the third quarter valued at about $1,807,000. Jeppson Wealth Management LLC acquired a new stake in shares of Visa during the third quarter valued at about $175,000. Finally, Chiron Capital Management LLC acquired a new stake in shares of Visa during the third quarter valued at about $80,000. 80.74% of the stock is currently owned by institutional investors.

Visa Company Profile

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.

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