Visa (NYSE:V) was upgraded by research analysts at Vetr from a “buy” rating to a “strong-buy” rating in a report issued on Thursday. The brokerage currently has a $137.20 target price on the credit-card processor’s stock. Vetr‘s price target would indicate a potential upside of 11.61% from the company’s current price.
A number of other research analysts have also issued reports on the stock. Susquehanna Bancshares increased their target price on shares of Visa from $126.00 to $148.00 in a research report on Thursday, December 28th. Cantor Fitzgerald restated a “buy” rating and set a $120.00 target price on shares of Visa in a research report on Wednesday, October 25th. Zacks Investment Research lowered shares of Visa from a “buy” rating to a “hold” rating in a research report on Tuesday, October 31st. Wells Fargo & Co restated an “outperform” rating and set a $135.00 target price (up previously from $127.00) on shares of Visa in a research report on Tuesday, January 9th. Finally, Jefferies Group upped their price target on shares of Visa from $125.00 to $127.00 and gave the stock a “buy” rating in a report on Monday, October 30th. Two investment analysts have rated the stock with a hold rating, thirty have issued a buy rating and two have assigned a strong buy rating to the stock. The stock has an average rating of “Buy” and an average price target of $134.20.
Visa (NYSE:V) opened at $122.93 on Thursday. Visa has a 52-week low of $87.30 and a 52-week high of $126.88. The stock has a market cap of $278,580.00, a P/E ratio of 48.21, a price-to-earnings-growth ratio of 1.59 and a beta of 1.03. The company has a current ratio of 2.07, a quick ratio of 2.07 and a debt-to-equity ratio of 0.60.
Visa (NYSE:V) last announced its earnings results on Thursday, February 1st. The credit-card processor reported $1.08 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.98 by $0.10. Visa had a net margin of 38.12% and a return on equity of 32.97%. The firm had revenue of $4.86 billion for the quarter, compared to analyst estimates of $4.82 billion. During the same quarter in the prior year, the business posted $0.86 EPS. The business’s revenue was up 9.0% compared to the same quarter last year. sell-side analysts expect that Visa will post 4.36 earnings per share for the current year.
Visa declared that its Board of Directors has approved a stock buyback plan on Thursday, February 1st that authorizes the company to repurchase $7.50 billion in shares. This repurchase authorization authorizes the credit-card processor to buy shares of its stock through open market purchases. Shares repurchase plans are generally an indication that the company’s board of directors believes its shares are undervalued.
In other Visa news, 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 completion of the transaction, the senior vice president now directly owns 687 shares in the company, valued at approximately $77,005.83. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, Director Robert W. Matschullat sold 6,220 shares of the company’s stock in a transaction that occurred on Wednesday, December 13th. The shares were 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 owns 57,368 shares of the company’s stock, valued at $6,526,183.68. The disclosure for this sale can be found here. In the last three months, insiders sold 59,780 shares of company stock valued at $6,802,702. 0.14% of the stock is owned by insiders.
A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Janus Henderson Group PLC increased its position in shares of Visa by 159.7% during the second quarter. Janus Henderson Group PLC now owns 9,702,770 shares of the credit-card processor’s stock worth $909,979,000 after buying an additional 5,966,991 shares during the period. BlackRock Inc. increased its position in shares of Visa by 2.5% during the fourth quarter. BlackRock Inc. now owns 120,243,230 shares of the credit-card processor’s stock worth $13,710,132,000 after buying an additional 2,986,301 shares during the period. Arrowstreet Capital Limited Partnership increased its position in shares of Visa by 730.6% during the fourth quarter. Arrowstreet Capital Limited Partnership now owns 2,992,638 shares of the credit-card processor’s stock worth $341,221,000 after buying an additional 2,632,338 shares during the period. Vanguard Group Inc. increased its position in shares of Visa by 2.1% during the second quarter. Vanguard Group Inc. now owns 127,020,401 shares of the credit-card processor’s stock worth $11,911,973,000 after buying an additional 2,628,148 shares during the period. Finally, Capital Research Global Investors increased its position in shares of Visa by 20.3% during the second quarter. Capital Research Global Investors now owns 11,394,893 shares of the credit-card processor’s stock worth $1,068,613,000 after buying an additional 1,919,732 shares during the period. Hedge funds and other institutional investors own 81.59% of the company’s stock.
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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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