Visa (NYSE:V) Stock Price Up 0.7% on Analyst Upgrade

Visa Inc. (NYSE:V)’s share price rose 0.7% during trading on Tuesday after Bank of America raised their price target on the stock from $279.00 to $308.00. Bank of America currently has a neutral rating on the stock. Visa traded as high as $292.80 and last traded at $292.57. Approximately 855,557 shares changed hands during trading, a decline of 88% from the average daily volume of 7,053,967 shares. The stock had previously closed at $290.48.

Several other research firms also recently commented on V. The Goldman Sachs Group reissued a “buy” rating and issued a $317.00 price objective on shares of Visa in a research note on Thursday, September 12th. Evercore ISI dropped their price objective on Visa from $335.00 to $330.00 and set an “outperform” rating for the company in a research note on Tuesday, June 25th. Compass Point initiated coverage on shares of Visa in a report on Wednesday, September 4th. They set a “buy” rating and a $319.00 target price on the stock. TD Cowen decreased their price objective on Visa from $320.00 to $318.00 and set a “buy” rating for the company in a research note on Wednesday, July 24th. Finally, Jefferies Financial Group dropped their target price on Visa from $325.00 to $300.00 and set a “buy” rating on the stock in a report on Wednesday, July 24th. Six analysts have rated the stock with a hold rating, twenty-four have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $310.22.

Insider Transactions at Visa

In other Visa 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 value of $2,382,309.40. Following the transaction, the chief executive officer now directly owns 538 shares of the company’s stock, valued at $148,687.06. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 0.19% of the company’s stock.

Hedge Funds Weigh In On Visa

A number of institutional investors and hedge funds have recently added to or reduced their stakes in V. Alaethes Wealth LLC raised its holdings in Visa by 0.4% in the 4th quarter. Alaethes Wealth LLC now owns 8,843 shares of the credit-card processor’s stock valued at $2,302,000 after acquiring an additional 37 shares during the period. Jessup Wealth Management Inc increased its stake in shares of Visa by 0.7% during the first quarter. Jessup Wealth Management Inc now owns 5,051 shares of the credit-card processor’s stock worth $1,410,000 after purchasing an additional 37 shares during the period. Long Run Wealth Advisors LLC lifted its holdings in Visa by 2.5% during the 1st quarter. Long Run Wealth Advisors LLC now owns 1,519 shares of the credit-card processor’s stock worth $424,000 after purchasing an additional 37 shares during the last quarter. Cordatus Wealth Management LLC boosted its stake in Visa by 0.3% in the 1st quarter. Cordatus Wealth Management LLC now owns 10,793 shares of the credit-card processor’s stock valued at $3,012,000 after purchasing an additional 37 shares during the period. Finally, Garden State Investment Advisory Services LLC grew its holdings in Visa by 1.8% in the 4th quarter. Garden State Investment Advisory Services LLC now owns 2,191 shares of the credit-card processor’s stock valued at $571,000 after buying an additional 38 shares in the last quarter. 82.15% of the stock is owned by hedge funds and other institutional investors.

Visa Stock Up 0.4 %

The company has a current ratio of 1.37, a quick ratio of 1.37 and a debt-to-equity ratio of 0.54. The stock has a market cap of $533.34 billion, a P/E ratio of 32.58, a PEG ratio of 2.01 and a beta of 0.96. The firm has a 50-day simple moving average of $269.30 and a two-hundred day simple moving average of $273.27.

Visa (NYSE:V) last released its quarterly earnings results on Tuesday, July 23rd. The credit-card processor reported $2.42 EPS for the quarter, meeting the consensus estimate of $2.42. The business had revenue of $8.90 billion for the quarter, compared to the consensus estimate of $8.92 billion. Visa had a net margin of 54.72% and a return on equity of 51.94%. Visa’s revenue was up 9.6% compared to the same quarter last year. During the same period in the prior year, the company posted $2.16 earnings per share. Equities research analysts expect that Visa Inc. will post 9.92 earnings per share for the current fiscal year.

Visa Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Tuesday, September 3rd. Stockholders of record on Friday, August 9th were given a $0.52 dividend. The ex-dividend date of this dividend was Friday, August 9th. This represents a $2.08 dividend on an annualized basis and a dividend yield of 0.71%. Visa’s payout ratio is 23.24%.

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.