Visa Inc. (NYSE:V) had its price objective increased by Barclays PLC from $114.00 to $123.00 in a research report issued on Wednesday, October 18th. The brokerage currently has an “overweight” rating on the credit-card processor’s stock. Barclays PLC’s price objective indicates a potential upside of 12.02% from the stock’s current price.
Several other equities analysts have also recently issued reports on the company. Mizuho reissued a “buy” rating and issued a $115.00 price objective on shares of Visa in a report on Thursday, October 12th. Zacks Investment Research raised Visa from a “hold” rating to a “buy” rating and set a $117.00 price target for the company in a report on Tuesday, September 19th. BidaskClub raised Visa from a “buy” rating to a “strong-buy” rating in a report on Thursday, August 10th. UBS AG reaffirmed an “overweight” rating on shares of Visa in a report on Thursday, August 24th. Finally, Credit Suisse Group set a $112.00 price target on Visa and gave the stock a “buy” rating in a report on Saturday, July 22nd. Three research analysts have rated the stock with a hold rating, twenty-nine have assigned a buy rating and one has issued a strong buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and a consensus target price of $115.95.
Shares of Visa (V) traded down 0.123% during midday trading on Wednesday, hitting $109.665. The stock had a trading volume of 5,480,437 shares. The stock has a market cap of $250.74 billion, a PE ratio of 40.783 and a beta of 0.93. Visa has a 12 month low of $75.17 and a 12 month high of $110.61. The stock’s 50-day moving average is $106.11 and its 200-day moving average is $98.74.
Visa (NYSE:V) last issued its quarterly earnings results on Wednesday, October 25th. The credit-card processor reported $0.90 EPS for the quarter, topping the Zacks’ consensus estimate of $0.85 by $0.05. Visa had a return on equity of 31.80% and a net margin of 36.49%. The company had revenue of $4.86 billion during the quarter, compared to analysts’ expectations of $4.63 billion. During the same quarter in the previous year, the firm posted $0.78 EPS. The firm’s revenue was up 13.9% compared to the same quarter last year. Equities analysts anticipate that Visa will post $3.43 EPS for the current year.
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In related news, Director Mary B. Cranston sold 10,400 shares of the firm’s stock in a transaction dated Thursday, August 17th. The stock was sold at an average price of $103.32, for a total transaction of $1,074,528.00. The transaction was disclosed in a document filed with the SEC, which is available at this link. Company insiders own 0.14% of the company’s stock.
Several hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Mosaic Family Wealth LLC grew its holdings in shares of Visa by 12.5% during the third quarter. Mosaic Family Wealth LLC now owns 7,916 shares of the credit-card processor’s stock worth $833,000 after buying an additional 880 shares during the last quarter. 1ST Source Bank grew its holdings in shares of Visa by 48.4% during the third quarter. 1ST Source Bank now owns 14,131 shares of the credit-card processor’s stock worth $1,487,000 after buying an additional 4,611 shares during the last quarter. Crossmark Global Holdings Inc. purchased a new position in shares of Visa during the third quarter worth about $22,263,000. Sumitomo Mitsui Asset Management Company LTD grew its holdings in shares of Visa by 0.7% during the third quarter. Sumitomo Mitsui Asset Management Company LTD now owns 632,503 shares of the credit-card processor’s stock worth $66,564,000 after buying an additional 4,517 shares during the last quarter. Finally, Integrated Investment Consultants LLC grew its holdings in shares of Visa by 30.4% during the third quarter. Integrated Investment Consultants LLC now owns 3,860 shares of the credit-card processor’s stock worth $406,000 after buying an additional 899 shares during the last quarter. 81.69% of the stock is currently owned by hedge funds and other institutional investors.
Visa Inc (Visa) is a payments technology company that connects consumers, merchants, financial institutions, businesses, strategic partners and government entities to electronic payments. The Company operates through payment services segment. The Company enables global commerce through the transfer of value and information among the participants.
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