Visa (NYSE:V) Given New $300.00 Price Target at Wedbush

Visa (NYSE:V) had its price objective raised by Wedbush from $280.00 to $300.00 in a research report report published on Wednesday, Benzinga reports. The brokerage currently has an outperform rating on the credit-card processor’s stock.

A number of other equities research analysts have also commented on V. Redburn Atlantic restated a neutral rating and set a $307.00 price target on shares of Visa in a research report on Wednesday, March 27th. TD Cowen initiated coverage on Visa in a research report on Thursday, April 11th. They issued a buy rating and a $320.00 price objective on the stock. KeyCorp increased their price objective on Visa from $275.00 to $300.00 and gave the company an overweight rating in a research report on Monday, January 8th. UBS Group increased their price objective on Visa from $305.00 to $315.00 and gave the company a buy rating in a research report on Friday, January 26th. Finally, Susquehanna increased their price objective on Visa from $300.00 to $326.00 and gave the company a positive rating in a research report on Friday, January 26th. Five research analysts have rated the stock with a hold rating and twenty have given a buy rating to the company’s stock. According to data from MarketBeat, Visa has a consensus rating of Moderate Buy and a consensus price target of $302.58.

Visa Stock Up 0.3 %

NYSE V opened at $275.04 on Wednesday. The firm has a market cap of $505.11 billion, a PE ratio of 30.73, a price-to-earnings-growth ratio of 1.89 and a beta of 0.96. Visa has a one year low of $216.14 and a one year high of $290.96. The stock’s 50 day simple moving average is $279.44 and its 200 day simple moving average is $263.97. The company has a debt-to-equity ratio of 0.54, a current ratio of 1.45 and a quick ratio of 1.45.

Visa (NYSE:V) last released its quarterly earnings results on Tuesday, April 23rd. The credit-card processor reported $2.51 EPS for the quarter, topping analysts’ consensus estimates of $2.43 by $0.08. The business had revenue of $8.78 billion for the quarter, compared to analyst estimates of $8.62 billion. Visa had a return on equity of 51.72% and a net margin of 53.87%. Visa’s revenue for the quarter was up 9.9% on a year-over-year basis. During the same period in the prior year, the company earned $2.09 EPS. As a group, sell-side analysts forecast that Visa will post 9.88 earnings per share for the current fiscal year.

Visa Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, June 3rd. Investors of record on Friday, May 17th will be paid a dividend of $0.52 per share. This represents a $2.08 annualized dividend and a yield of 0.76%. The ex-dividend date of this dividend is Thursday, May 16th. Visa’s payout ratio is presently 23.24%.

Insider Buying and Selling

In related news, CAO Peter M. Andreski sold 2,615 shares of the firm’s stock in a transaction on Wednesday, February 7th. The stock was sold at an average price of $278.88, for a total transaction of $729,271.20. Following the sale, the chief accounting officer now owns 4,898 shares of the company’s stock, valued at approximately $1,365,954.24. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In other Visa news, CEO Ryan Mcinerney sold 8,150 shares of Visa stock in a transaction dated Thursday, February 1st. The stock was sold at an average price of $273.39, for a total value of $2,228,128.50. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, CAO Peter M. Andreski sold 2,615 shares of Visa stock in a transaction dated Wednesday, February 7th. The shares were sold at an average price of $278.88, for a total value of $729,271.20. Following the completion of the sale, the chief accounting officer now directly owns 4,898 shares in the company, valued at approximately $1,365,954.24. The disclosure for this sale can be found here. In the last quarter, insiders have sold 18,965 shares of company stock valued at $5,256,352. 0.19% of the stock is owned by company insiders.

Institutional Trading of Visa

Several hedge funds and other institutional investors have recently modified their holdings of V. Trifecta Capital Advisors LLC raised its stake in shares of Visa by 2.7% in the 3rd quarter. Trifecta Capital Advisors LLC now owns 20,176 shares of the credit-card processor’s stock valued at $4,641,000 after purchasing an additional 536 shares during the period. Buttonwood Financial Advisors Inc. grew its holdings in shares of Visa by 6.0% in the 3rd quarter. Buttonwood Financial Advisors Inc. now owns 16,590 shares of the credit-card processor’s stock valued at $3,816,000 after acquiring an additional 933 shares in the last quarter. Trust Co. of Oklahoma grew its holdings in shares of Visa by 1.5% in the 3rd quarter. Trust Co. of Oklahoma now owns 31,365 shares of the credit-card processor’s stock valued at $7,214,000 after acquiring an additional 453 shares in the last quarter. Relyea Zuckerberg Hanson LLC grew its holdings in shares of Visa by 1.6% in the 3rd quarter. Relyea Zuckerberg Hanson LLC now owns 5,370 shares of the credit-card processor’s stock valued at $1,235,000 after acquiring an additional 86 shares in the last quarter. Finally, Naples Global Advisors LLC grew its holdings in shares of Visa by 29.8% in the 3rd quarter. Naples Global Advisors LLC now owns 6,747 shares of the credit-card processor’s stock valued at $1,552,000 after acquiring an additional 1,550 shares in the last quarter. Institutional investors and hedge funds own 82.15% of the company’s stock.

Visa Company Profile

Visa Inc operates as a payment technology company in the United States and internationally. The company operates VisaNet, a transaction processing network that enables authorization, clearing, and settlement of payment transactions. It also offers credit, debit, and prepaid card products; tap to pay, tokenization, and click to pay services; Visa Direct, a solution that facilitates the delivery of funds to eligible cards, deposit accounts, and digital wallets; Visa B2B Connect, a multilateral business-to-business cross-border payments network; Visa Cross-Border Solution, a cross-border consumer payments solution; and Visa DPS that provides a range of value-added services, including fraud mitigation, dispute management, data analytics, campaign management, a suite of digital solutions, and contact center services.