Visa (NYSE:V) Price Target Raised to $360.00

Visa (NYSE:V) had its target price hoisted by Wells Fargo & Company from $325.00 to $360.00 in a research note published on Friday,Benzinga reports. They currently have an overweight rating on the credit-card processor’s stock.

Other research analysts also recently issued reports about the stock. 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 note on Wednesday, October 30th. Oppenheimer increased their price objective on shares of Visa from $321.00 to $375.00 and gave the company an “outperform” rating in a research note on Thursday, December 19th. Macquarie increased their price objective on shares of Visa from $300.00 to $335.00 and gave the company an “outperform” rating in a research note on Wednesday, October 30th. Keefe, Bruyette & Woods increased their price objective on shares of Visa from $335.00 to $360.00 and gave the company an “outperform” rating in a research note on Monday, December 9th. Finally, Bank of America increased their price objective on shares of Visa from $279.00 to $308.00 and gave the company a “neutral” rating in a research note on Tuesday, September 17th. Four equities research analysts have rated the stock with a hold rating, twenty-five have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, Visa has a consensus rating of “Moderate Buy” and a consensus target price of $329.70.

Visa Stock Up 0.2 %

Shares of NYSE V opened at $314.91 on Friday. Visa has a 12-month low of $252.70 and a 12-month high of $321.61. The company has a market capitalization of $586.64 billion, a PE ratio of 32.36, a price-to-earnings-growth ratio of 2.11 and a beta of 0.96. The company has a debt-to-equity ratio of 0.55, a current ratio of 1.28 and a quick ratio of 1.28. The firm’s 50-day moving average is $309.73 and its two-hundred day moving average is $285.76.

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. Visa had a net margin of 54.96% and a return on equity of 53.16%. The business had revenue of $9.62 billion for the quarter, compared to the consensus estimate of $9.49 billion. During the same quarter in the prior year, the firm posted $2.33 earnings per share. The company’s quarterly revenue was up 11.7% compared to the same quarter last year. Equities analysts anticipate that Visa will post 11.23 EPS for the current fiscal year.

Visa Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, December 2nd. Investors of record on Tuesday, November 12th were paid a $0.59 dividend. This is a positive change from Visa’s previous quarterly dividend of $0.52. This represents a $2.36 dividend on an annualized basis and a dividend yield of 0.75%. The ex-dividend date was Tuesday, November 12th. Visa’s payout ratio is currently 24.25%.

Insiders Place Their Bets

In related news, insider Paul D. Fabara sold 2,171 shares of the stock in a transaction 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 sale, the insider now directly owns 17,894 shares of the company’s stock, valued at approximately $5,510,815.18. This represents a 10.82 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CEO Ryan Mcinerney sold 8,620 shares of the company’s stock in a transaction on Thursday, January 2nd. The shares were sold at an average price of $317.78, for a total value of $2,739,263.60. The disclosure for this sale can be found here. 0.13% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the business. Impact Partnership Wealth LLC grew its stake in shares of Visa by 188.3% during the 2nd quarter. Impact Partnership Wealth LLC now owns 908 shares of the credit-card processor’s stock worth $238,000 after acquiring an additional 593 shares during the period. Foster & Motley Inc. grew its stake in shares of Visa by 43.3% during the 2nd quarter. Foster & Motley Inc. now owns 5,681 shares of the credit-card processor’s stock worth $1,491,000 after acquiring an additional 1,716 shares during the period. Bordeaux Wealth Advisors LLC grew its stake in shares of Visa by 273.5% during the 2nd quarter. Bordeaux Wealth Advisors LLC now owns 12,326 shares of the credit-card processor’s stock worth $3,235,000 after acquiring an additional 9,026 shares during the period. Waverton Investment Management Ltd lifted its holdings in Visa by 3.6% during the 2nd quarter. Waverton Investment Management Ltd now owns 878,769 shares of the credit-card processor’s stock worth $230,514,000 after purchasing an additional 30,902 shares in the last quarter. Finally, Horizon Investment Services LLC lifted its holdings in Visa by 0.4% during the 2nd quarter. Horizon Investment Services LLC now owns 15,440 shares of the credit-card processor’s stock worth $4,053,000 after purchasing an additional 68 shares in the last quarter. Institutional investors own 82.15% of the company’s stock.

About Visa

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.