Visa (NYSE:V) Price Target Raised to $347.00

Visa (NYSE:V) had its target price boosted by Barclays from $319.00 to $347.00 in a report released on Monday morning, Benzinga reports. Barclays currently has an overweight rating on the credit-card processor’s stock.

Other equities analysts have also recently issued reports about the company. Bank of America lifted their price objective on Visa from $279.00 to $308.00 and gave the company a “neutral” rating in a report on Tuesday, September 17th. StockNews.com raised Visa from a “hold” rating to a “buy” rating in a research note on Friday, August 9th. Keefe, Bruyette & Woods upgraded shares of Visa from a “moderate buy” rating to a “strong-buy” rating in a research note on Tuesday, September 24th. TD Cowen boosted their target price on shares of Visa from $318.00 to $325.00 and gave the company a “buy” rating in a research report on Wednesday, October 30th. Finally, Piper Sandler increased their price target on shares of Visa from $319.00 to $322.00 and gave the stock an “overweight” rating in a research report on Wednesday, October 30th. Four research analysts have rated the stock with a hold rating, twenty-four have given a buy rating and two have assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $321.74.

Visa Trading Up 4.8 %

V stock opened at $307.36 on Monday. Visa has a 52 week low of $240.97 and a 52 week high of $309.00. The company has a market capitalization of $560.11 billion, a PE ratio of 31.59, a price-to-earnings-growth ratio of 1.96 and a beta of 0.95. The company’s 50-day simple moving average is $282.69 and its 200 day simple moving average is $274.20. The company has a debt-to-equity ratio of 0.55, a quick ratio of 1.37 and a current ratio of 1.28.

Visa (NYSE:V) last announced its earnings results on Tuesday, October 29th. The credit-card processor reported $2.71 earnings per share (EPS) 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 for the quarter, compared to analyst estimates of $9.49 billion. During the same quarter in the prior year, the business posted $2.33 EPS. The business’s revenue was up 11.7% compared to the same quarter last year. As a group, sell-side analysts anticipate that Visa will post 11.18 earnings per share for the current year.

Visa Increases Dividend

The business also recently announced 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 a positive change from Visa’s previous quarterly dividend of $0.52. This represents a $2.36 annualized dividend and a yield of 0.77%. The ex-dividend date of this dividend is Tuesday, November 12th. Visa’s dividend payout ratio (DPR) is currently 21.38%.

Insider Buying and Selling at Visa

In other 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 completion of the transaction, the chief executive officer now directly owns 538 shares in the company, valued at $148,687.06. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Corporate insiders own 0.19% of the company’s stock.

Hedge Funds Weigh In On Visa

A number of hedge funds have recently bought and sold shares of the company. Mechanics Financial Corp grew its holdings in Visa by 2.3% during the 3rd quarter. Mechanics Financial Corp now owns 6,941 shares of the credit-card processor’s stock worth $1,908,000 after acquiring an additional 155 shares during the period. Adero Partners LLC boosted its position in shares of Visa by 6.8% during the 3rd quarter. Adero Partners LLC now owns 3,725 shares of the credit-card processor’s stock valued at $1,024,000 after purchasing an additional 236 shares in the last quarter. Atlanta Consulting Group Advisors LLC grew its stake in Visa by 67.0% during the third quarter. Atlanta Consulting Group Advisors LLC now owns 17,571 shares of the credit-card processor’s stock worth $4,831,000 after purchasing an additional 7,052 shares during the period. GoalVest Advisory LLC lifted its stake in Visa by 9.1% in the third quarter. GoalVest Advisory LLC now owns 10,066 shares of the credit-card processor’s stock valued at $2,768,000 after buying an additional 836 shares during the period. Finally, Mutual of America Capital Management LLC lifted its stake in Visa by 2.0% in the third quarter. Mutual of America Capital Management LLC now owns 221,863 shares of the credit-card processor’s stock valued at $61,001,000 after buying an additional 4,266 shares during the period. 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.