Visa (NYSE:V) Price Target Raised to $310.00 at BMO Capital Markets

Visa (NYSE:V) had its price target hoisted by BMO Capital Markets from $300.00 to $310.00 in a research note published on Thursday, Benzinga reports. BMO Capital Markets currently has an outperform rating on the credit-card processor’s stock.

Other analysts also recently issued research reports about the company. Piper Sandler reduced their price objective on Visa from $322.00 to $319.00 and set an overweight rating on the stock in a research note on Wednesday, July 24th. Keefe, Bruyette & Woods raised Visa from a moderate buy rating to a strong-buy rating in a research note on Tuesday, September 24th. Oppenheimer assumed coverage on Visa in a research note on Tuesday, October 1st. They issued an outperform rating and a $318.00 price objective on the stock. William Blair raised Visa to a strong-buy rating in a research report on Tuesday, July 23rd. Finally, Macquarie reissued an outperform rating and set a $300.00 target price on shares of Visa in a research report on Friday, September 27th. Six equities research analysts have rated the stock with a hold rating, twenty-three have given a buy rating and two have issued a strong buy rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of Moderate Buy and a consensus target price of $312.04.

Visa Trading Up 0.4 %

Visa stock opened at $277.93 on Thursday. The business has a 50-day simple moving average of $273.00 and a two-hundred day simple moving average of $272.86. The company has a market cap of $508.32 billion, a P/E ratio of 31.05, a P/E/G ratio of 1.92 and a beta of 0.96. Visa has a 52-week low of $228.03 and a 52-week high of $293.07. The company has a quick ratio of 1.37, a current ratio of 1.37 and a debt-to-equity ratio of 0.54.

Visa (NYSE:V) last posted its quarterly earnings data on Tuesday, July 23rd. The credit-card processor reported $2.42 earnings per share for the quarter, meeting analysts’ consensus estimates of $2.42. Visa had a return on equity of 51.94% and a net margin of 54.72%. The firm had revenue of $8.90 billion for the quarter, compared to analysts’ expectations of $8.92 billion. During the same period in the previous year, the firm earned $2.16 EPS. The business’s quarterly revenue was up 9.6% on a year-over-year basis. Analysts predict that Visa will post 9.92 EPS for the current year.

Visa Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, September 3rd. Stockholders of record on Friday, August 9th were issued a $0.52 dividend. This represents a $2.08 dividend on an annualized basis and a dividend yield of 0.75%. The ex-dividend date of this dividend was Friday, August 9th. Visa’s dividend payout ratio is presently 23.24%.

Insider Activity

In related news, CEO Ryan Mcinerney sold 8,620 shares of the firm’s stock in a transaction dated Tuesday, September 3rd. The stock was sold at an average price of $276.37, for a total transaction of $2,382,309.40. Following the sale, the chief executive officer now directly owns 538 shares of the company’s stock, valued at $148,687.06. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Corporate insiders own 0.19% of the company’s stock.

Hedge Funds Weigh In On Visa

Several hedge funds and other institutional investors have recently made changes to their positions in the company. Livelsberger Financial Advisory acquired a new position in Visa during the 4th quarter worth $25,000. Westend Capital Management LLC acquired a new stake in shares of Visa in the 1st quarter worth approximately $25,000. POM Investment Strategies LLC grew its holdings in shares of Visa by 970.0% in the 2nd quarter. POM Investment Strategies LLC now owns 107 shares of the credit-card processor’s stock worth $28,000 after acquiring an additional 97 shares during the period. Frank Rimerman Advisors LLC purchased a new stake in Visa in the 4th quarter valued at approximately $33,000. Finally, TruNorth Capital Management LLC grew its holdings in Visa by 211.9% during the 2nd quarter. TruNorth Capital Management LLC now owns 131 shares of the credit-card processor’s stock valued at $34,000 after buying an additional 89 shares during the last quarter. Hedge funds and other institutional investors own 82.15% of the company’s stock.

About Visa

Visa Inc operates as a payment technology company in the United States and internationally. The company operates VisaNet, a transaction processing network that enables authorization, clearing, and settlement of payment transactions. It also offers credit, debit, and prepaid card products; tap to pay, tokenization, and click to pay services; Visa Direct, a solution that facilitates the delivery of funds to eligible cards, deposit accounts, and digital wallets; Visa B2B Connect, a multilateral business-to-business cross-border payments network; Visa Cross-Border Solution, a cross-border consumer payments solution; and Visa DPS that provides a range of value-added services, including fraud mitigation, dispute management, data analytics, campaign management, a suite of digital solutions, and contact center services.