Visa (NYSE:V)‘s stock had its “buy” rating reissued by research analysts at Cowen in a research note issued to investors on Friday, January 12th. They presently have a $129.00 price target on the credit-card processor’s stock. Cowen’s price target points to a potential upside of 10.95% from the stock’s current price.
A number of other research analysts have also recently weighed in on the company. Susquehanna Bancshares lifted their target price on Visa from $126.00 to $148.00 in a report on Thursday, December 28th. Cantor Fitzgerald reiterated a “buy” rating and issued a $120.00 target price on shares of Visa in a report on Wednesday, October 25th. Zacks Investment Research cut Visa from a “buy” rating to a “hold” rating in a research note on Tuesday, October 31st. Wells Fargo & Co restated an “outperform” rating and set a $135.00 price objective (up previously from $127.00) on shares of Visa in a research note on Tuesday, January 9th. Finally, Jefferies Group boosted their price objective on Visa from $125.00 to $127.00 and gave the stock a “buy” rating in a research note on Monday, October 30th. Two investment analysts have rated the stock with a hold rating, thirty-one have assigned a buy rating and one has assigned a strong buy rating to the stock. Visa has a consensus rating of “Buy” and an average target price of $133.85.
Visa (NYSE:V) traded down $4.64 during trading on Friday, reaching $116.27. The company’s stock had a trading volume of 16,620,000 shares, compared to its average volume of 7,370,000. The stock has a market capitalization of $263,490.00, a P/E ratio of 38.50, a price-to-earnings-growth ratio of 1.69 and a beta of 1.03. The company has a quick ratio of 2.07, a current ratio of 2.07 and a debt-to-equity ratio of 0.60. Visa has a one year low of $84.88 and a one year high of $126.88.
Visa (NYSE:V) last announced its quarterly earnings data on Thursday, February 1st. The credit-card processor reported $1.08 EPS for the quarter, beating the Zacks’ consensus estimate of $0.98 by $0.10. The business had revenue of $4.86 billion during the quarter, compared to the consensus estimate of $4.82 billion. Visa had a return on equity of 32.97% and a net margin of 38.12%. The business’s revenue for the quarter was up 9.0% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.86 earnings per share. research analysts anticipate that Visa will post 4.28 earnings per share for the current fiscal year.
Visa announced that its Board of Directors has authorized a stock buyback plan on Thursday, February 1st that permits the company to repurchase $7.50 billion in shares. This repurchase authorization permits the credit-card processor to repurchase shares of its stock through open market purchases. Shares repurchase plans are usually an indication that the company’s leadership believes its shares are undervalued.
In other news, Director Robert W. Matschullat sold 6,220 shares of the company’s stock in a transaction that occurred on Wednesday, December 13th. The stock was sold at an average price of $113.76, for a total transaction of $707,587.20. Following the completion of the transaction, the director now directly owns 57,368 shares of the company’s stock, valued at $6,526,183.68. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, SVP James H. Hoffmeister sold 2,146 shares of the company’s stock in a transaction that occurred on Monday, November 27th. The shares were sold at an average price of $112.09, for a total value of $240,545.14. Following the transaction, the senior vice president now directly owns 687 shares of the company’s stock, valued at $77,005.83. The disclosure for this sale can be found here. Over the last three months, insiders sold 58,068 shares of company stock valued at $6,597,262. 0.14% of the stock is owned by corporate insiders.
A number of hedge funds have recently modified their holdings of the stock. Krilogy Financial LLC lifted its position in Visa by 0.3% in the second quarter. Krilogy Financial LLC now owns 2,572 shares of the credit-card processor’s stock worth $241,000 after purchasing an additional 7 shares during the period. Capital Investment Advisory Services LLC lifted its position in Visa by 0.4% in the second quarter. Capital Investment Advisory Services LLC now owns 4,747 shares of the credit-card processor’s stock worth $445,000 after purchasing an additional 20 shares during the period. Baker Ellis Asset Management LLC lifted its position in Visa by 0.3% in the second quarter. Baker Ellis Asset Management LLC now owns 6,262 shares of the credit-card processor’s stock worth $587,000 after purchasing an additional 20 shares during the period. Lakeview Capital Partners LLC lifted its position in Visa by 0.8% in the second quarter. Lakeview Capital Partners LLC now owns 4,283 shares of the credit-card processor’s stock worth $402,000 after purchasing an additional 34 shares during the period. Finally, Raab & Moskowitz Asset Management LLC lifted its position in Visa by 0.5% in the second quarter. Raab & Moskowitz Asset Management LLC now owns 7,428 shares of the credit-card processor’s stock worth $739,000 after purchasing an additional 38 shares during the period. 81.57% of the stock is owned by institutional investors and hedge funds.
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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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