Visa Inc. (NYSE:V) had its target price upped by BMO Capital Markets from $116.00 to $134.00 in a report released on Thursday, October 26th. The brokerage currently has an outperform rating on the credit-card processor’s stock.
V has been the topic of a number of other reports. Instinet lifted their price objective on Visa from $105.00 to $120.00 and gave the company a buy rating in a research report on Friday, July 21st. Wells Fargo & Company reaffirmed a market perform rating and set a $100.00 price objective (up from $87.50) on shares of Visa in a research report on Saturday, July 22nd. Citigroup Inc. reissued a buy rating and issued a $115.00 price target (up from $100.00) on shares of Visa in a report on Monday, July 24th. Zacks Investment Research downgraded Visa from a buy rating to a hold rating in a research note on Thursday, July 27th. Finally, BidaskClub downgraded Visa from a strong-buy rating to a buy rating in a research note on Monday, July 31st. Three investment analysts have rated the stock with a hold rating, twenty-nine have issued a buy rating and one has issued a strong buy rating to the company’s stock. The company currently has an average rating of Buy and an average target price of $116.08.
Shares of Visa (V) traded down $0.26 during mid-day trading on Thursday, reaching $111.88. The company had a trading volume of 4,198,700 shares, compared to its average volume of 6,532,689. Visa has a 12 month low of $75.17 and a 12 month high of $112.90. The stock has a market capitalization of $232,262.88, a price-to-earnings ratio of 32.15, a price-to-earnings-growth ratio of 1.64 and a beta of 0.97. The company has a debt-to-equity ratio of 0.61, a current ratio of 1.90 and a quick ratio of 1.65.
Visa (NYSE:V) last announced its quarterly earnings data on Wednesday, October 25th. The credit-card processor reported $0.90 EPS for the quarter, beating the 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 business had revenue of $4.86 billion during the quarter, compared to analyst estimates of $4.63 billion. During the same quarter last year, the firm posted $0.78 earnings per share. The company’s revenue for the quarter was up 13.9% on a year-over-year basis. research analysts predict that Visa will post 4.05 EPS for the current year.
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The company also recently announced a quarterly dividend, which will be paid on Tuesday, December 5th. Stockholders of record on Friday, November 17th will be issued a $0.195 dividend. This is an increase from Visa’s previous quarterly dividend of $0.17. This represents a $0.78 annualized dividend and a dividend yield of 0.70%. The ex-dividend date is Thursday, November 16th. Visa’s payout ratio is presently 23.57%.
In other news, Director Mary B. Cranston sold 10,400 shares of the business’s stock in a transaction dated Thursday, August 17th. The stock was sold at an average price of $103.32, for a total value of $1,074,528.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 0.14% of the stock is currently owned by insiders.
A number of hedge funds have recently modified their holdings of the stock. Ropes Wealth Advisors LLC increased its position in Visa by 5.2% in the 3rd quarter. Ropes Wealth Advisors LLC now owns 20,376 shares of the credit-card processor’s stock valued at $2,144,000 after acquiring an additional 1,000 shares during the period. Zeke Capital Advisors LLC increased its position in Visa by 100.9% during the 3rd quarter. Zeke Capital Advisors LLC now owns 31,376 shares of the credit-card processor’s stock worth $3,302,000 after purchasing an additional 15,759 shares during the period. Vision Capital Management Inc. increased its position in Visa by 3.8% during the 3rd quarter. Vision Capital Management Inc. now owns 59,723 shares of the credit-card processor’s stock worth $6,285,000 after purchasing an additional 2,180 shares during the period. Amalgamated Bank increased its position in Visa by 2.1% during the 3rd quarter. Amalgamated Bank now owns 222,667 shares of the credit-card processor’s stock worth $23,433,000 after purchasing an additional 4,555 shares during the period. Finally, LVW Advisors LLC acquired a new position in Visa during the 3rd quarter worth approximately $208,000. Hedge funds and other institutional investors own 81.77% of the company’s stock.
Visa Company Profile
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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