Visa (NYSE:V) Sets New 1-Year High After Analyst Upgrade

Visa Inc. (NYSE:V)’s share price reached a new 52-week high on Monday 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 $331.30 and last traded at $329.68, with a volume of 399056 shares traded. The stock had previously closed at $330.20.

V has been the topic of a number of other reports. Seaport Res Ptn raised Visa from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, January 14th. Macquarie lifted their price objective on Visa from $300.00 to $335.00 and gave the stock an “outperform” rating in a report on Wednesday, October 30th. Deutsche Bank Aktiengesellschaft raised their target price on Visa from $300.00 to $340.00 and gave the stock a “buy” rating in a research report on Wednesday, October 30th. BMO Capital Markets boosted their price target on shares of Visa from $310.00 to $320.00 and gave the company an “outperform” rating in a report on Wednesday, October 30th. Finally, Bank of America raised their price objective on shares of Visa from $314.00 to $331.00 and gave the stock a “neutral” rating in a report on Wednesday, January 22nd. Four analysts have rated the stock with a hold rating, twenty-three have given a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $335.52.

Insider Buying and Selling at Visa

In other Visa news, insider Paul D. Fabara sold 2,171 shares of the business’s stock in a transaction dated Friday, November 22nd. The stock was sold at an average price of $307.97, for a total transaction 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. The trade was a 10.82 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CEO Ryan Mcinerney sold 8,620 shares of the firm’s stock in a transaction dated Thursday, January 2nd. The shares were sold at an average price of $317.78, for a total transaction of $2,739,263.60. The disclosure for this sale can be found here. Corporate insiders own 0.13% of the company’s stock.

Institutional Investors Weigh In On Visa

A number of institutional investors have recently made changes to their positions in the stock. Crescent Grove Advisors LLC boosted its holdings in Visa by 2.2% during the fourth quarter. Crescent Grove Advisors LLC now owns 1,437 shares of the credit-card processor’s stock worth $454,000 after buying an additional 31 shares during the last quarter. Phoenix Wealth Advisors boosted its stake in Visa by 3.4% during the 4th quarter. Phoenix Wealth Advisors now owns 964 shares of the credit-card processor’s stock worth $305,000 after acquiring an additional 32 shares during the last quarter. Unionview LLC grew its holdings in Visa by 1.5% during the third quarter. Unionview LLC now owns 2,296 shares of the credit-card processor’s stock valued at $631,000 after purchasing an additional 33 shares during the period. Forza Wealth Management LLC increased its stake in Visa by 2.9% in the fourth quarter. Forza Wealth Management LLC now owns 1,164 shares of the credit-card processor’s stock valued at $368,000 after purchasing an additional 33 shares in the last quarter. Finally, Presilium Private Wealth LLC raised its holdings in Visa by 2.2% in the fourth quarter. Presilium Private Wealth LLC now owns 1,503 shares of the credit-card processor’s stock worth $475,000 after purchasing an additional 33 shares during the period. 82.15% of the stock is owned by institutional investors and hedge funds.

Visa Trading Up 0.3 %

The company has a market capitalization of $616.74 billion, a price-to-earnings ratio of 33.97, a price-to-earnings-growth ratio of 2.17 and a beta of 0.96. The company has a quick ratio of 1.28, a current ratio of 1.28 and a debt-to-equity ratio of 0.55. The company’s fifty day simple moving average is $314.95 and its two-hundred day simple moving average is $290.79.

Visa (NYSE:V) last posted its earnings results on Tuesday, October 29th. The credit-card processor reported $2.71 earnings per share for the quarter, topping the consensus estimate of $2.58 by $0.13. Visa had a return on equity of 53.16% and a net margin of 54.96%. The firm had revenue of $9.62 billion for the quarter, compared to analyst estimates of $9.49 billion. During the same period in the previous year, the company posted $2.33 earnings per share. The company’s revenue for the quarter was up 11.7% on a year-over-year basis. Research analysts forecast that Visa Inc. will post 11.19 earnings per share for the current fiscal year.

Visa Increases Dividend

The firm also recently announced 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. This represents a $2.36 dividend on an annualized basis and a yield of 0.71%. This is a boost from Visa’s previous quarterly dividend of $0.52. The ex-dividend date of this dividend was Tuesday, November 12th. Visa’s dividend payout ratio is presently 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.