Morgan Stanley Cuts Visa (NYSE:V) Price Target to $322.00

Visa (NYSE:V) had its price objective reduced by Morgan Stanley from $326.00 to $322.00 in a research note published on Wednesday morning, Benzinga reports. They currently have an overweight rating on the credit-card processor’s stock.

A number of other research firms have also issued reports on V. Macquarie increased their target price on Visa from $290.00 to $300.00 and gave the company an outperform rating in a research note on Wednesday, April 24th. Robert W. Baird lifted their price objective on shares of Visa from $314.00 to $320.00 and gave the company an outperform rating in a research note on Wednesday, April 17th. William Blair reissued an outperform rating on shares of Visa in a research report on Wednesday, April 24th. JPMorgan Chase & Co. lowered their price target on shares of Visa from $302.00 to $300.00 and set an overweight rating for the company in a report on Thursday, July 18th. Finally, Redburn Atlantic reiterated a neutral rating and issued a $307.00 price objective on shares of Visa in a report on Wednesday, March 27th. Six investment analysts have rated the stock with a hold rating, twenty-one have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, Visa currently has a consensus rating of Moderate Buy and a consensus price target of $307.25.

Visa Trading Up 2.3 %

NYSE V opened at $259.46 on Wednesday. The firm has a market capitalization of $474.54 billion, a price-to-earnings ratio of 28.99, a PEG ratio of 1.77 and a beta of 0.95. The company has a debt-to-equity ratio of 0.54, a quick ratio of 1.40 and a current ratio of 1.37. Visa has a one year low of $227.78 and a one year high of $290.96. The company’s 50 day moving average price is $270.03 and its 200 day moving average price is $274.23.

Visa (NYSE:V) last issued its earnings results on Tuesday, July 23rd. The credit-card processor reported $2.42 EPS for the quarter, meeting analysts’ consensus estimates of $2.42. Visa had a net margin of 54.72% and a return on equity of 51.94%. The business had revenue of $8.90 billion for the quarter, compared to the consensus estimate of $8.92 billion. During the same quarter last year, the firm posted $2.16 EPS. The business’s revenue for the quarter was up 9.6% compared to the same quarter last year. On average, sell-side analysts predict that Visa will post 9.94 EPS for the current year.

Visa Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, September 3rd. Shareholders of record on Friday, August 9th will be given a $0.52 dividend. This represents a $2.08 annualized dividend and a yield of 0.80%. The ex-dividend date is Friday, August 9th. Visa’s dividend payout ratio is presently 23.24%.

Insider Activity

In other Visa news, insider Paul D. Fabara sold 25,293 shares of the firm’s stock in a transaction that occurred on Wednesday, May 15th. The shares were sold at an average price of $277.15, for a total value of $7,009,954.95. Following the sale, the insider now owns 17,894 shares in the company, valued at $4,959,322.10. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Corporate insiders own 0.19% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently modified their holdings of V. Legend Financial Advisors Inc. raised its stake in shares of Visa by 1,558.0% during the second quarter. Legend Financial Advisors Inc. now owns 1,658 shares of the credit-card processor’s stock valued at $435,000 after purchasing an additional 1,558 shares in the last quarter. Riversedge Advisors LLC increased its stake in Visa by 5.2% during the 2nd quarter. Riversedge Advisors LLC now owns 1,247 shares of the credit-card processor’s stock valued at $327,000 after buying an additional 62 shares during the period. Whitaker Myers Wealth Managers LTD. raised its position in shares of Visa by 16.6% during the 2nd quarter. Whitaker Myers Wealth Managers LTD. now owns 1,388 shares of the credit-card processor’s stock worth $364,000 after buying an additional 198 shares in the last quarter. Trajan Wealth LLC lifted its stake in shares of Visa by 6.2% in the 2nd quarter. Trajan Wealth LLC now owns 64,962 shares of the credit-card processor’s stock worth $17,051,000 after acquiring an additional 3,770 shares during the period. Finally, Sterling Investment Management LLC boosted its holdings in shares of Visa by 53.5% in the second quarter. Sterling Investment Management LLC now owns 8,068 shares of the credit-card processor’s stock valued at $2,118,000 after acquiring an additional 2,812 shares in the last quarter. Institutional investors 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.