Visa (NYSE:V) Shares Up 0.5% After Analyst Upgrade

Visa Inc. (NYSE:V) shares rose 0.5% on Monday after Barclays raised their price target on the stock from $319.00 to $347.00. Barclays currently has an overweight rating on the stock. Visa traded as high as $293.15 and last traded at $292.31. Approximately 1,008,569 shares were traded during trading, a decline of 86% from the average daily volume of 7,042,163 shares. The stock had previously closed at $290.74.

A number of other equities research analysts have also issued reports on the stock. The Goldman Sachs Group restated a “buy” rating and set a $317.00 price target on shares of Visa in a report on Thursday, September 12th. Citigroup boosted their target price on shares of Visa from $319.00 to $326.00 and gave the company a “buy” rating in a research note on Wednesday, October 30th. Jefferies Financial Group raised their target price on Visa from $320.00 to $330.00 and gave the stock a “buy” rating in a research report on Wednesday, October 30th. Oppenheimer reissued an “outperform” rating and set a $321.00 price target (up from $318.00) on shares of Visa in a research report on Wednesday, October 30th. Finally, Compass Point assumed coverage on Visa in a research note on Wednesday, September 4th. They set a “buy” rating and a $319.00 target price on the stock. Four research analysts have rated the stock with a hold rating, twenty-four have issued a buy rating and two have given a strong buy rating to the stock. According to data from MarketBeat, Visa presently has an average rating of “Moderate Buy” and a consensus target price of $321.74.

Insider Buying and Selling

In other news, CEO Ryan Mcinerney sold 8,620 shares of the company’s stock in a transaction dated Tuesday, September 3rd. The shares were sold at an average price of $276.37, for a total transaction of $2,382,309.40. Following the completion of the transaction, the chief executive officer now owns 538 shares of the company’s stock, valued at approximately $148,687.06. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. 0.19% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of the company. POM Investment Strategies LLC raised 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 buying an additional 97 shares in the last quarter. Reston Wealth Management LLC acquired a new stake in shares of Visa in the 3rd quarter valued at $31,000. TruNorth Capital Management LLC boosted its stake in shares of Visa by 211.9% in the 2nd quarter. TruNorth Capital Management LLC now owns 131 shares of the credit-card processor’s stock valued at $34,000 after purchasing an additional 89 shares in the last quarter. Bbjs Financial Advisors LLC bought a new stake in shares of Visa in the 2nd quarter worth about $35,000. Finally, CarsonAllaria Wealth Management Ltd. acquired a new stake in shares of Visa during the 2nd quarter worth about $35,000. 82.15% of the stock is owned by institutional investors.

Visa Stock Up 0.4 %

The stock has a market capitalization of $531.84 billion, a P/E ratio of 29.99, a P/E/G ratio of 1.94 and a beta of 0.95. The company has a current ratio of 1.28, a quick ratio of 1.37 and a debt-to-equity ratio of 0.55. The firm’s fifty day moving average is $281.47 and its 200-day moving average is $273.80.

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

Visa Increases Dividend

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

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.