Visa (NYSE:V) Price Target Raised to $320.00

Visa (NYSE:V) had its price objective hoisted by BMO Capital Markets from $310.00 to $320.00 in a research report sent to investors on Wednesday morning, Benzinga reports. They currently have an outperform rating on the credit-card processor’s stock.

A number of other equities analysts have also issued reports on the company. Robert W. Baird raised their price target on Visa from $330.00 to $340.00 and gave the stock an “outperform” rating in a report on Wednesday. JPMorgan Chase & Co. boosted their target price on Visa from $290.00 to $320.00 and gave the company an “overweight” rating in a report on Tuesday, August 20th. StockNews.com upgraded Visa from a “hold” rating to a “buy” rating in a research note on Friday, August 9th. Morgan Stanley boosted their price objective on shares of Visa from $322.00 to $326.00 and gave the company an “overweight” rating in a research note on Wednesday. Finally, Monness Crespi & Hardt restated a “neutral” rating on shares of Visa in a research note on Tuesday, September 24th. Four equities research analysts have rated the stock with a hold rating, twenty-four have given a buy rating and two have issued a strong buy rating to the company. According to data from MarketBeat.com, Visa currently has an average rating of “Moderate Buy” and an average price target of $320.70.

Visa Price Performance

Shares of NYSE V opened at $290.74 on Wednesday. The stock has a market cap of $529.82 billion, a P/E ratio of 29.88, a P/E/G ratio of 1.94 and a beta of 0.95. Visa has a twelve month low of $239.20 and a twelve month high of $296.34. The stock has a 50 day moving average of $281.00 and a two-hundred day moving average of $273.63. The company has a current ratio of 1.28, a quick ratio of 1.37 and a debt-to-equity ratio of 0.55.

Visa (NYSE:V) last issued its quarterly earnings results on Tuesday, October 29th. The credit-card processor reported $2.71 earnings per share for the quarter, topping analysts’ consensus estimates of $2.58 by $0.13. Visa had a net margin of 54.96% and a return on equity of 53.16%. The firm had revenue of $9.62 billion during the quarter, compared to analysts’ expectations of $9.49 billion. During the same quarter in the prior year, the business earned $2.33 EPS. Visa’s quarterly revenue was up 11.7% compared to the same quarter last year. On average, research analysts forecast that Visa will post 11.17 earnings per share for the current year.

Visa Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, December 2nd. Stockholders of record on Tuesday, November 12th will be given a $0.59 dividend. The ex-dividend date of this dividend is Tuesday, November 12th. This is a positive change from Visa’s previous quarterly dividend of $0.52. This represents a $2.36 annualized dividend and a dividend yield of 0.81%. Visa’s dividend payout ratio is currently 21.38%.

Insider Buying and Selling

In related news, CEO Ryan Mcinerney sold 8,620 shares of the stock in a transaction on 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 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 the SEC website. Insiders own 0.19% of the company’s stock.

Hedge Funds Weigh In On Visa

Institutional investors and hedge funds have recently modified their holdings of the company. POM Investment Strategies LLC boosted its stake in 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 buying an additional 97 shares during the last quarter. Reston Wealth Management LLC purchased a new stake in Visa in the third quarter valued at approximately $31,000. TruNorth Capital Management LLC increased its position in Visa by 211.9% during the second quarter. TruNorth Capital Management LLC now owns 131 shares of the credit-card processor’s stock worth $34,000 after purchasing an additional 89 shares during the last quarter. Bbjs Financial Advisors LLC purchased a new position in Visa during the second quarter worth approximately $35,000. Finally, CarsonAllaria Wealth Management Ltd. acquired a new position in shares of Visa in the 2nd quarter valued at $35,000. Hedge funds and other institutional investors own 82.15% of the company’s stock.

Visa Company Profile

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.