Raymond James Raises Visa (NYSE:V) Price Target to $265.00

Visa (NYSE:V) had its price objective lifted by Raymond James from $263.00 to $265.00 in a research report released on Tuesday morning, PriceTargets.com reports. They currently have an outperform rating on the credit-card processor’s stock.

Several other research firms have also recently weighed in on V. Morgan Stanley decreased their target price on Visa from $282.00 to $280.00 and set an overweight rating for the company in a research note on Wednesday, October 27th. JPMorgan Chase & Co. boosted their target price on Visa from $267.00 to $277.00 and gave the stock an overweight rating in a research note on Wednesday, October 27th. Royal Bank of Canada decreased their target price on Visa from $297.00 to $284.00 and set an outperform rating for the company in a research note on Wednesday, October 27th. Mizuho cut Visa from a buy rating to a neutral rating and decreased their target price for the stock from $255.00 to $220.00 in a research note on Friday, January 7th. Finally, Robert W. Baird restated a buy rating and set a $305.00 target price on shares of Visa in a research note on Thursday, December 30th. Five investment analysts have rated the stock with a hold rating and twenty-one have assigned a buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of Buy and a consensus target price of $265.58.

Shares of Visa stock opened at $214.67 on Tuesday. Visa has a one year low of $190.10 and a one year high of $252.67. The company has a market cap of $413.31 billion, a PE ratio of 38.13, a P/E/G ratio of 1.90 and a beta of 0.97. The company has a debt-to-equity ratio of 0.58, a quick ratio of 1.75 and a current ratio of 1.75. The business has a 50-day simple moving average of $210.42 and a 200-day simple moving average of $224.11.

Visa (NYSE:V) last announced its quarterly earnings data on Tuesday, October 26th. The credit-card processor reported $1.62 EPS for the quarter, topping the Zacks’ consensus estimate of $1.53 by $0.09. Visa had a return on equity of 37.62% and a net margin of 51.07%. The business had revenue of $6.56 billion during the quarter, compared to the consensus estimate of $6.51 billion. During the same period in the previous year, the company posted $1.12 earnings per share. The business’s revenue for the quarter was up 28.6% on a year-over-year basis. On average, sell-side analysts predict that Visa will post 7.02 earnings per share for the current fiscal year.

The business also recently declared a quarterly dividend, which was paid on Tuesday, December 7th. Stockholders of record on Friday, November 12th were paid a dividend of $0.375 per share. This represents a $1.50 annualized dividend and a dividend yield of 0.70%. The ex-dividend date was Wednesday, November 10th. This is a boost from Visa’s previous quarterly dividend of $0.32. Visa’s dividend payout ratio is 26.64%.

In related news, CEO Alfred F. Kelly, Jr. sold 9,000 shares of the company’s stock in a transaction on Friday, October 29th. The stock was sold at an average price of $208.57, for a total transaction of $1,877,130.00. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, President Ryan Mcinerney sold 11,193 shares of the company’s stock in a transaction on Monday, November 1st. The stock was sold at an average price of $212.44, for a total value of $2,377,840.92. The disclosure for this sale can be found here. Insiders have sold 40,386 shares of company stock valued at $8,362,931 in the last 90 days. Company insiders own 0.21% of the company’s stock.

Hedge funds have recently made changes to their positions in the stock. Greenleaf Trust grew its holdings in Visa by 2.1% during the second quarter. Greenleaf Trust now owns 210,478 shares of the credit-card processor’s stock worth $49,214,000 after acquiring an additional 4,292 shares during the period. King Luther Capital Management Corp grew its holdings in Visa by 2.5% in the second quarter. King Luther Capital Management Corp now owns 957,489 shares of the credit-card processor’s stock valued at $223,880,000 after purchasing an additional 23,429 shares during the last quarter. Spearhead Capital Advisors LLC grew its holdings in Visa by 29.6% in the third quarter. Spearhead Capital Advisors LLC now owns 87,642 shares of the credit-card processor’s stock valued at $19,522,000 after purchasing an additional 19,992 shares during the last quarter. Van ECK Associates Corp grew its holdings in Visa by 1.6% in the second quarter. Van ECK Associates Corp now owns 168,863 shares of the credit-card processor’s stock valued at $39,484,000 after purchasing an additional 2,705 shares during the last quarter. Finally, HCR Wealth Advisors grew its holdings in Visa by 1.7% in the third quarter. HCR Wealth Advisors now owns 36,784 shares of the credit-card processor’s stock valued at $8,194,000 after purchasing an additional 626 shares during the last quarter. 80.83% of the stock is currently owned by hedge funds and other institutional investors.

Visa Company Profile

Visa, Inc engages in the provision of digital payment services. It also facilitates global commerce through the transfer of value and information among global network of consumers, merchants, financial institutions, businesses, strategic partners, and government entities. It offers debit card, credit card, prepaid products, commercial payment solutions, and global automated teller machine (ATM).

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