Visa (NYSE:V) Trading 0.7% Higher Following Analyst Upgrade

Visa Inc. (NYSE:V)’s share price rose 0.7% during mid-day trading on Friday after Piper Sandler raised their price target on the stock from $322.00 to $368.00. Piper Sandler currently has an overweight rating on the stock. Visa traded as high as $330.75 and last traded at $330.53. Approximately 944,834 shares changed hands during trading, a decline of 82% from the average daily volume of 5,337,977 shares. The stock had previously closed at $328.21.

A number of other equities research analysts also recently issued reports on V. Bank of America increased their price objective on shares of Visa from $314.00 to $331.00 and gave the stock a “neutral” rating in a research note on Wednesday. Barclays increased their target price on shares of Visa from $319.00 to $347.00 and gave the stock an “overweight” rating in a report on Monday, November 4th. Jefferies Financial Group increased their target price on shares of Visa from $320.00 to $330.00 and gave the stock a “buy” rating in a report on Wednesday, October 30th. TD Cowen increased their target price on shares of Visa from $318.00 to $325.00 and gave the stock a “buy” rating in a report on Wednesday, October 30th. Finally, BMO Capital Markets increased their target price on shares of Visa from $310.00 to $320.00 and gave the stock an “outperform” rating in a report on Wednesday, October 30th. Four investment analysts have rated the stock with a hold rating, twenty-four have assigned a buy rating and two have given a strong buy rating to the company’s stock. According to MarketBeat, Visa currently has a consensus rating of “Moderate Buy” and an average price target of $334.58.

Insider Buying and Selling at Visa

In related news, CEO Ryan Mcinerney sold 8,620 shares of the firm’s stock in a transaction that occurred 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 sale was disclosed in a filing with the SEC, which is available through this link. Also, insider Paul D. Fabara sold 2,171 shares of the stock in a transaction that occurred on Friday, November 22nd. The shares were sold at an average price of $307.97, for a total transaction of $668,602.87. Following the transaction, the insider now owns 17,894 shares in the company, valued at $5,510,815.18. The trade was a 10.82 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 0.13% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the company. Peterson Financial Group Inc. purchased a new position in Visa during the third quarter valued at $26,000. Decker Retirement Planning Inc. purchased a new position in Visa during the fourth quarter valued at $26,000. Reston Wealth Management LLC purchased a new position in Visa during the third quarter valued at $31,000. Modus Advisors LLC purchased a new position in shares of Visa in the 4th quarter worth about $32,000. Finally, West Financial Advisors LLC raised its position in shares of Visa by 101.4% in the 3rd quarter. West Financial Advisors LLC now owns 145 shares of the credit-card processor’s stock worth $40,000 after purchasing an additional 73 shares during the last quarter. Institutional investors own 82.15% of the company’s stock.

Visa Price Performance

The firm has a fifty day moving average of $314.54 and a 200 day moving average of $289.98. The company has a market capitalization of $615.21 billion, a P/E ratio of 33.96, a P/E/G ratio of 2.17 and a beta of 0.96. The company has a current ratio of 1.28, a quick ratio of 1.28 and a debt-to-equity ratio of 0.55.

Visa (NYSE:V) last released its quarterly earnings results on Tuesday, October 29th. The credit-card processor reported $2.71 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.58 by $0.13. The business had revenue of $9.62 billion during the quarter, compared to the consensus estimate of $9.49 billion. Visa had a return on equity of 53.16% and a net margin of 54.96%. 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 posted $2.33 EPS. On average, equities research analysts anticipate that Visa Inc. will post 11.19 EPS for the current 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 dividend of $0.59 per share. The ex-dividend date of this dividend was Tuesday, November 12th. This is an increase from Visa’s previous quarterly dividend of $0.52. This represents a $2.36 dividend on an annualized basis and a dividend yield of 0.71%. Visa’s payout ratio is 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.