Visa (NYSE:V) Trading Up 0.1% on Analyst Upgrade

Visa Inc. (NYSE:V) traded up 0.1% on Wednesday after JPMorgan Chase & Co. raised their price target on the stock from $290.00 to $320.00. JPMorgan Chase & Co. currently has an overweight rating on the stock. Visa traded as high as $269.27 and last traded at $268.43. 594,427 shares were traded during trading, a decline of 92% from the average session volume of 7,179,250 shares. The stock had previously closed at $268.04.

Several other equities research analysts have also weighed in on the company. UBS Group boosted their target price on Visa from $315.00 to $325.00 and gave the stock a “buy” rating in a report on Wednesday, April 24th. Mizuho upped their price objective on shares of Visa from $265.00 to $275.00 and gave the stock a “neutral” rating in a report on Thursday, May 2nd. Morgan Stanley dropped their target price on shares of Visa from $326.00 to $322.00 and set an “overweight” rating on the stock in a report on Wednesday, July 24th. Macquarie restated an “outperform” rating and set a $300.00 price target on shares of Visa in a report on Wednesday, July 24th. Finally, StockNews.com raised Visa from a “hold” rating to a “buy” rating in a research report on Friday, August 9th. Six research analysts have rated the stock with a hold rating, twenty-one have given a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $308.50.

Hedge Funds Weigh In On Visa

A number of institutional investors have recently modified their holdings of V. Livelsberger Financial Advisory bought a new stake in shares of Visa during the 4th quarter valued at about $25,000. Westend Capital Management LLC purchased a new position in Visa during the first quarter worth about $25,000. POM Investment Strategies LLC boosted its stake in shares of Visa by 970.0% in the 2nd quarter. POM Investment Strategies LLC now owns 107 shares of the credit-card processor’s stock worth $28,000 after buying an additional 97 shares during the last quarter. Frank Rimerman Advisors LLC purchased a new position in Visa in the fourth quarter worth $33,000. Finally, TruNorth Capital Management LLC boosted its stake in Visa by 211.9% in the second quarter. TruNorth Capital Management LLC now owns 131 shares of the credit-card processor’s stock valued at $34,000 after acquiring an additional 89 shares during the last quarter. Institutional investors and hedge funds own 82.15% of the company’s stock.

Visa Price Performance

The firm has a 50 day moving average price of $266.10 and a two-hundred day moving average price of $273.43. The company has a debt-to-equity ratio of 0.54, a quick ratio of 1.37 and a current ratio of 1.37. The company has a market cap of $490.94 billion, a P/E ratio of 29.99, a P/E/G ratio of 1.89 and a beta of 0.95.

Visa (NYSE:V) last announced its quarterly earnings data on Tuesday, July 23rd. The credit-card processor reported $2.42 earnings per share (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 company had revenue of $8.90 billion during the quarter, compared to analysts’ expectations of $8.92 billion. During the same quarter in the prior year, the company earned $2.16 EPS. The firm’s revenue was up 9.6% on a year-over-year basis. On average, analysts predict that Visa Inc. will post 9.91 EPS for the current fiscal year.

Visa Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 3rd. Stockholders of record on Friday, August 9th will be paid a dividend of $0.52 per share. This represents a $2.08 dividend on an annualized basis and a dividend yield of 0.77%. The ex-dividend date of this dividend is Friday, August 9th. Visa’s dividend payout ratio (DPR) is presently 23.24%.

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.