Visa (NYSE:V) Price Target Raised to $363.00

Visa (NYSE:V) had its price objective raised by Bank of America from $331.00 to $363.00 in a research report sent to investors on Friday,Benzinga reports. They currently have a neutral rating on the credit-card processor’s stock.

V has been the topic of several other research reports. Wells Fargo & Company increased their price target on Visa from $325.00 to $360.00 and gave the stock an “overweight” rating in a report on Friday, January 3rd. Jefferies Financial Group increased their target price on Visa from $320.00 to $330.00 and gave the stock a “buy” rating in a report on Wednesday, October 30th. Royal Bank of Canada boosted their price target on shares of Visa from $311.00 to $322.00 and gave the company an “outperform” rating in a research note on Wednesday, October 30th. Macquarie upped their price objective on shares of Visa from $300.00 to $335.00 and gave the stock an “outperform” rating in a report on Wednesday, October 30th. Finally, Oppenheimer lifted their price objective on shares of Visa from $321.00 to $375.00 and gave the company an “outperform” rating in a report on Thursday, December 19th. Four research analysts have rated the stock with a hold rating, twenty-five have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $352.27.

Visa Price Performance

Visa stock opened at $342.05 on Friday. The stock’s 50 day moving average price is $317.74 and its two-hundred day moving average price is $293.12. The stock has a market capitalization of $637.19 billion, a price-to-earnings ratio of 35.15, a PEG ratio of 2.27 and a beta of 0.96. The company has a debt-to-equity ratio of 0.55, a quick ratio of 1.28 and a current ratio of 1.28. Visa has a 52-week low of $252.70 and a 52-week high of $351.25.

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

Visa Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, March 3rd. Shareholders of record on Tuesday, February 11th will be paid a $0.59 dividend. This represents a $2.36 dividend on an annualized basis and a 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 stock in a transaction dated 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 document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Paul D. Fabara sold 2,171 shares of the business’s stock in a transaction that occurred on Friday, November 22nd. The shares were sold at an average price of $307.97, for a total transaction of $668,602.87. Following the completion of the sale, the insider now directly owns 17,894 shares in the company, valued at approximately $5,510,815.18. This trade represents a 10.82 % decrease in their position. The disclosure for this sale can be found here. Insiders own 0.13% of the company’s stock.

Institutional Investors Weigh In On Visa

Several institutional investors have recently made changes to their positions in the stock. Peterson Financial Group Inc. purchased a new stake in Visa during the 3rd quarter worth about $26,000. Decker Retirement Planning Inc. bought a new stake in shares of Visa during the fourth quarter valued at about $26,000. Reston Wealth Management LLC bought a new stake in shares of Visa during the third quarter valued at about $31,000. POM Investment Strategies LLC lifted its holdings in shares of Visa by 48.5% in the fourth quarter. POM Investment Strategies LLC now owns 98 shares of the credit-card processor’s stock worth $31,000 after buying an additional 32 shares in the last quarter. Finally, Modus Advisors LLC purchased a new position in Visa during the fourth quarter valued at approximately $32,000. Hedge funds and other institutional investors own 82.15% of the company’s stock.

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.