Visa (NYSE:V) Price Target Raised to $390.00

Visa (NYSE:V) had its price objective raised by Oppenheimer from $375.00 to $390.00 in a report released on Friday,Benzinga reports. Oppenheimer currently has an outperform rating on the credit-card processor’s stock.

Several other research analysts also recently commented on V. Royal Bank of Canada lifted their target price on Visa from $311.00 to $322.00 and gave the stock an “outperform” rating in a research note on Wednesday, October 30th. Robert W. Baird upped their price objective on shares of Visa from $330.00 to $340.00 and gave the company an “outperform” rating in a report on Wednesday, October 30th. Seaport Res Ptn raised shares of Visa from a “hold” rating to a “strong-buy” rating in a report on Tuesday, January 14th. William Blair reissued an “outperform” rating on shares of Visa in a report on Friday. Finally, The Goldman Sachs Group upped their target price on Visa from $346.00 to $384.00 and gave the company a “buy” rating in a research report on Friday. Four equities research analysts have rated the stock with a hold rating, twenty-five have given a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Visa currently has a consensus rating of “Moderate Buy” and a consensus target price of $352.27.

Visa Stock Down 0.3 %

Shares of Visa stock opened at $342.05 on Friday. Visa has a 52-week low of $252.70 and a 52-week high of $351.25. The company has a debt-to-equity ratio of 0.55, a quick ratio of 1.28 and a current ratio of 1.28. The business’s 50 day simple moving average is $317.74 and its 200 day simple moving average is $293.12. The firm has a market cap of $637.19 billion, a PE ratio of 35.15, a P/E/G ratio of 2.27 and a beta of 0.96.

Visa (NYSE:V) last issued its quarterly earnings results on Thursday, January 30th. The credit-card processor reported $2.75 EPS for the quarter, beating the consensus estimate of $2.66 by $0.09. Visa had a return on equity of 53.16% and a net margin of 54.96%. On average, analysts predict that Visa will post 11.18 earnings per share for the current fiscal year.

Visa Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, March 3rd. Stockholders of record on Tuesday, February 11th will be paid a dividend of $0.59 per share. This represents a $2.36 dividend on an annualized basis and a dividend yield of 0.69%. The ex-dividend date is Tuesday, February 11th. Visa’s payout ratio is 23.79%.

Insider Activity

In other Visa news, CEO Ryan Mcinerney sold 8,620 shares of the company’s stock in a transaction on Thursday, January 2nd. The shares were sold at an average price of $317.78, for a total transaction of $2,739,263.60. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, insider Paul D. Fabara sold 2,171 shares of Visa stock in a transaction dated Friday, November 22nd. The stock was sold at an average price of $307.97, for a total value of $668,602.87. Following the completion of the transaction, the insider now directly owns 17,894 shares of the company’s stock, valued at approximately $5,510,815.18. This trade represents a 10.82 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.13% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Visa

A number of institutional investors and hedge funds have recently modified their holdings of V. State Street Corp increased its stake in Visa by 4.5% during the 3rd quarter. State Street Corp now owns 76,610,942 shares of the credit-card processor’s stock valued at $21,064,179,000 after purchasing an additional 3,327,977 shares in the last quarter. FMR LLC raised its holdings in shares of Visa by 6.1% in the 3rd quarter. FMR LLC now owns 57,111,843 shares of the credit-card processor’s stock worth $15,702,901,000 after acquiring an additional 3,265,518 shares during the last quarter. Geode Capital Management LLC lifted its position in Visa by 7.7% in the 3rd quarter. Geode Capital Management LLC now owns 38,655,250 shares of the credit-card processor’s stock valued at $10,601,135,000 after acquiring an additional 2,772,549 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its stake in Visa by 1.1% during the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 11,597,969 shares of the credit-card processor’s stock valued at $3,188,862,000 after purchasing an additional 123,927 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. increased its holdings in Visa by 6.2% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 11,522,445 shares of the credit-card processor’s stock worth $3,168,096,000 after purchasing an additional 670,590 shares in the last quarter. 82.15% of the stock is currently owned by institutional investors.

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.