Royal Bank of Canada Trims Visa (NYSE:V) Target Price to $311.00

Visa (NYSE:V) had its price target decreased by Royal Bank of Canada from $315.00 to $311.00 in a report published on Wednesday, Benzinga reports. Royal Bank of Canada currently has an outperform rating on the credit-card processor’s stock.

A number of other research analysts also recently issued reports on the stock. Bank of America reiterated a neutral rating and issued a $297.00 price target (down previously from $305.00) on shares of Visa in a research note on Wednesday, July 10th. UBS Group lifted their price objective on shares of Visa from $315.00 to $325.00 and gave the stock a buy rating in a research report on Wednesday, April 24th. Evercore ISI dropped their target price on Visa from $335.00 to $330.00 and set an outperform rating on the stock in a report on Tuesday, June 25th. Robert W. Baird lifted their price target on Visa from $314.00 to $320.00 and gave the stock an outperform rating in a report on Wednesday, April 17th. Finally, William Blair reiterated an outperform rating on shares of Visa in a report on Wednesday, April 24th. Six research analysts have rated the stock with a hold rating, twenty-one have given a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of Moderate Buy and an average price target of $307.25.

Visa Stock Up 2.3 %

Shares of NYSE V opened at $259.46 on Wednesday. The stock has a market cap of $474.54 billion, a P/E ratio of 28.99, a PEG ratio of 1.77 and a beta of 0.95. The business’s fifty day simple moving average is $270.03 and its 200-day simple moving average is $274.23. Visa has a 12-month low of $227.78 and a 12-month high of $290.96. The company has a current ratio of 1.37, a quick ratio of 1.40 and a debt-to-equity ratio of 0.54.

Visa (NYSE:V) last issued its quarterly earnings results on Tuesday, July 23rd. The credit-card processor reported $2.42 earnings per share for the quarter, hitting the consensus estimate of $2.42. The company had revenue of $8.90 billion for the quarter, compared to the consensus estimate of $8.92 billion. Visa had a return on equity of 51.94% and a net margin of 54.72%. Visa’s revenue was up 9.6% on a year-over-year basis. During the same quarter in the prior year, the business earned $2.16 EPS. As a group, equities analysts predict that Visa will post 9.94 EPS for the current fiscal year.

Visa Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Tuesday, September 3rd. Stockholders of record on Friday, August 9th will be paid a dividend of $0.52 per share. The ex-dividend date is Friday, August 9th. This represents a $2.08 dividend on an annualized basis and a dividend yield of 0.80%. Visa’s dividend payout ratio (DPR) is 23.24%.

Insider Activity at Visa

In other news, insider Paul D. Fabara sold 25,293 shares of the firm’s stock in a transaction that occurred on Wednesday, May 15th. The stock was sold at an average price of $277.15, for a total value of $7,009,954.95. Following the completion of the sale, the insider now directly owns 17,894 shares of the company’s stock, valued at approximately $4,959,322.10. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. 0.19% of the stock is owned by insiders.

Institutional Investors Weigh In On Visa

Hedge funds and other institutional investors have recently bought and sold shares of the business. Legend Financial Advisors Inc. increased its holdings in shares of Visa by 1,558.0% in the 2nd quarter. Legend Financial Advisors Inc. now owns 1,658 shares of the credit-card processor’s stock valued at $435,000 after purchasing an additional 1,558 shares in the last quarter. Riversedge Advisors LLC grew its position in Visa by 5.2% during the second quarter. Riversedge Advisors LLC now owns 1,247 shares of the credit-card processor’s stock worth $327,000 after buying an additional 62 shares during the period. Whitaker Myers Wealth Managers LTD. grew its position in Visa by 16.6% during the second quarter. Whitaker Myers Wealth Managers LTD. now owns 1,388 shares of the credit-card processor’s stock worth $364,000 after buying an additional 198 shares during the period. Trajan Wealth LLC increased its holdings in Visa by 6.2% in the second quarter. Trajan Wealth LLC now owns 64,962 shares of the credit-card processor’s stock valued at $17,051,000 after buying an additional 3,770 shares in the last quarter. Finally, Sterling Investment Management LLC lifted its position in shares of Visa by 53.5% during the 2nd quarter. Sterling Investment Management LLC now owns 8,068 shares of the credit-card processor’s stock valued at $2,118,000 after acquiring an additional 2,812 shares during the period. Institutional investors and hedge funds 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.