Visa (NYSE:V) Trading 0.5% Higher After Analyst Upgrade

Visa Inc. (NYSE:V)’s stock price rose 0.5% during mid-day trading on Tuesday after Keefe, Bruyette & Woods raised their price target on the stock from $335.00 to $360.00. Keefe, Bruyette & Woods currently has an outperform rating on the stock. Visa traded as high as $310.02 and last traded at $309.94. Approximately 928,266 shares traded hands during trading, a decline of 87% from the average daily volume of 6,904,657 shares. The stock had previously closed at $308.30.

Other equities analysts also recently issued reports about the company. Monness Crespi & Hardt reissued a “neutral” rating on shares of Visa in a research report on Tuesday, September 24th. Citigroup increased their price objective on shares of Visa from $319.00 to $326.00 and gave the company a “buy” rating in a research report on Wednesday, October 30th. Morgan Stanley lifted their price objective on shares of Visa from $322.00 to $326.00 and gave the stock an “overweight” rating in a research report on Wednesday, October 30th. Oppenheimer reissued an “outperform” rating and issued a $321.00 target price (up previously from $318.00) on shares of Visa in a report on Wednesday, October 30th. Finally, Bank of America lifted their price target on Visa from $279.00 to $308.00 and gave the stock a “neutral” rating in a report on Tuesday, September 17th. Four investment analysts have rated the stock with a hold rating, twenty-five have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, Visa has a consensus rating of “Moderate Buy” and a consensus target price of $323.41.

Insiders Place Their Bets

In related news, insider Paul D. Fabara sold 2,171 shares of the firm’s stock in a transaction that occurred on Friday, November 22nd. The stock was sold at an average price of $307.97, for a total value of $668,602.87. Following the completion of the transaction, the insider now directly owns 17,894 shares of the company’s stock, valued at $5,510,815.18. This trade represents a 10.82 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Insiders own 0.19% of the company’s stock.

Institutional Trading of Visa

Institutional investors and hedge funds have recently modified their holdings of the business. Burke & Herbert Bank & Trust Co. lifted its stake in shares of Visa by 314.4% during the second quarter. Burke & Herbert Bank & Trust Co. now owns 3,672 shares of the credit-card processor’s stock valued at $964,000 after buying an additional 2,786 shares during the period. ORBA Wealth Advisors L.L.C. boosted its holdings in shares of Visa by 36.2% during the second quarter. ORBA Wealth Advisors L.L.C. now owns 2,338 shares of the credit-card processor’s stock worth $614,000 after purchasing an additional 622 shares during the last quarter. Lodestone Wealth Management LLC grew its position in shares of Visa by 1.9% in the second quarter. Lodestone Wealth Management LLC now owns 7,364 shares of the credit-card processor’s stock valued at $1,933,000 after purchasing an additional 137 shares during the period. V Square Quantitative Management LLC increased its stake in Visa by 1.1% in the second quarter. V Square Quantitative Management LLC now owns 27,244 shares of the credit-card processor’s stock valued at $7,151,000 after purchasing an additional 297 shares during the last quarter. Finally, Falcon Wealth Planning lifted its position in Visa by 10.0% during the second quarter. Falcon Wealth Planning now owns 1,318 shares of the credit-card processor’s stock worth $346,000 after buying an additional 120 shares during the period. Hedge funds and other institutional investors own 82.15% of the company’s stock.

Visa Trading Up 0.8 %

The business has a 50 day simple moving average of $296.38 and a 200-day simple moving average of $279.98. The company has a current ratio of 1.28, a quick ratio of 1.28 and a debt-to-equity ratio of 0.55. The stock has a market capitalization of $578.80 billion, a price-to-earnings ratio of 31.85, a price-to-earnings-growth ratio of 2.09 and a beta of 0.96.

Visa (NYSE:V) last announced its quarterly earnings data on Tuesday, October 29th. The credit-card processor reported $2.71 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.58 by $0.13. The company had revenue of $9.62 billion during the quarter, compared to analysts’ expectations of $9.49 billion. Visa had a net margin of 54.96% and a return on equity of 53.16%. The business’s quarterly revenue was up 11.7% compared to the same quarter last year. During the same period in the previous year, the company earned $2.33 EPS. On average, equities analysts predict that Visa Inc. will post 11.19 earnings per share for the current year.

Visa Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, December 2nd. Stockholders of record on Tuesday, November 12th were paid a $0.59 dividend. This represents a $2.36 dividend on an annualized basis and a dividend yield of 0.76%. The ex-dividend date of this dividend was Tuesday, November 12th. This is an increase from Visa’s previous quarterly dividend of $0.52. Visa’s dividend payout ratio (DPR) is currently 24.25%.

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.