Vetr cut shares of Visa (NYSE:V) from a strong-buy rating to a buy rating in a research report sent to investors on Thursday morning. Vetr currently has $135.00 price objective on the credit-card processor’s stock.
Several other equities analysts have also issued reports on the stock. Susquehanna Bancshares lifted their price objective on shares of Visa from $126.00 to $148.00 in a report on Thursday, December 28th. Wells Fargo reissued an outperform rating and set a $135.00 price objective (up from $127.00) on shares of Visa in a report on Tuesday, January 9th. Stephens reissued a buy rating and set a $135.00 price objective on shares of Visa in a report on Wednesday, January 10th. Cowen reissued a buy rating and set a $129.00 price objective on shares of Visa in a report on Friday, January 12th. Finally, Citigroup reissued a buy rating and set a $136.00 price objective (up from $124.00) on shares of Visa in a report on Friday, January 12th. Two equities research analysts have rated the stock with a hold rating, thirty-two have given a buy rating and one has assigned a strong buy rating to the stock. The stock currently has an average rating of Buy and an average price target of $134.97.
Shares of NYSE:V opened at $117.70 on Thursday. The company has a market cap of $242,525.22, a PE ratio of 33.82, a P/E/G ratio of 1.55 and a beta of 0.99. Visa has a one year low of $88.13 and a one year high of $126.88. The company has a debt-to-equity ratio of 0.60, a quick ratio of 2.07 and a current ratio of 2.07.
Visa (NYSE:V) last issued its earnings results on Thursday, February 1st. The credit-card processor reported $1.08 EPS for the quarter, topping the Zacks’ consensus estimate of $0.98 by $0.10. The business had revenue of $4.86 billion for the quarter, compared to analyst estimates of $4.82 billion. Visa had a net margin of 38.12% and a return on equity of 32.97%. The company’s quarterly revenue was up 9.0% compared to the same quarter last year. During the same period last year, the company posted $0.86 earnings per share. sell-side analysts anticipate that Visa will post 4.38 earnings per share for the current year.
Visa declared that its board has authorized a stock buyback plan on Thursday, February 1st that allows the company to buyback $7.50 billion in shares. This buyback authorization allows the credit-card processor to repurchase shares of its stock through open market purchases. Stock buyback plans are generally a sign that the company’s management believes its stock is undervalued.
In other news, EVP Lynne Biggar sold 1,712 shares of Visa stock in a transaction dated Wednesday, February 14th. The shares were sold at an average price of $120.00, for a total transaction of $205,440.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 0.14% of the company’s stock.
A number of hedge funds have recently made changes to their positions in V. Janus Henderson Group PLC lifted 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 purchasing an additional 5,966,991 shares in the last quarter. BlackRock Inc. increased its stake in Visa by 2.5% during the fourth quarter. BlackRock Inc. now owns 120,243,230 shares of the credit-card processor’s stock valued at $13,710,132,000 after purchasing an additional 2,986,301 shares during the last quarter. Arrowstreet Capital Limited Partnership increased its stake in 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 valued at $341,221,000 after purchasing an additional 2,632,338 shares during the last quarter. Vanguard Group Inc. increased its stake in Visa by 2.1% during the second quarter. Vanguard Group Inc. now owns 127,020,401 shares of the credit-card processor’s stock valued at $11,911,973,000 after purchasing an additional 2,628,148 shares during the last quarter. Finally, Capital Research Global Investors grew 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 acquiring an additional 1,919,732 shares during the last quarter. 81.52% of the stock is currently owned by hedge funds and other institutional investors.
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Visa Company Profile
Visa Inc operates as a payments technology company worldwide. The company facilitates commerce through the transfer of value and information among consumers, merchants, financial institutions, businesses, strategic partners, and government entities. It operates VisaNet, a processing network that enables authorization, clearing, and settlement of payment transactions; and offers fraud protection for account holders and assured payment for merchants.
To view Vetr’s full report, visit Vetr’s official website.
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