Bank of America Raises Visa (NYSE:V) Price Target to $308.00

Visa (NYSE:V) had its price target hoisted by Bank of America from $279.00 to $308.00 in a research note issued to investors on Tuesday, Benzinga reports. Bank of America currently has a neutral rating on the credit-card processor’s stock.

A number of other research firms have also weighed in on V. StockNews.com upgraded Visa from a hold rating to a buy rating in a research report on Friday, August 9th. TD Cowen cut their price target on shares of Visa from $320.00 to $318.00 and set a buy rating on the stock in a report on Wednesday, July 24th. Morgan Stanley reduced their target price on Visa from $326.00 to $322.00 and set an overweight rating for the company in a report on Wednesday, July 24th. Jefferies Financial Group decreased their price target on shares of Visa from $325.00 to $300.00 and set a buy rating for the company in a report on Wednesday, July 24th. Finally, Piper Sandler lowered their price objective on shares of Visa from $322.00 to $319.00 and set an overweight rating on the stock in a research note on Wednesday, July 24th. Six analysts have rated the stock with a hold rating, twenty-four have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of Moderate Buy and an average target price of $310.22.

Visa Price Performance

Shares of NYSE:V opened at $285.25 on Tuesday. The company has a quick ratio of 1.37, a current ratio of 1.37 and a debt-to-equity ratio of 0.54. The firm has a 50-day simple moving average of $270.27 and a 200 day simple moving average of $273.46. The company has a market cap of $519.81 billion, a PE ratio of 31.87, a P/E/G ratio of 2.05 and a beta of 0.96. Visa has a fifty-two week low of $227.78 and a fifty-two week high of $293.07.

Visa (NYSE:V) last released its quarterly earnings data on Tuesday, July 23rd. The credit-card processor reported $2.42 earnings per share for the quarter, hitting analysts’ consensus estimates of $2.42. The business had revenue of $8.90 billion for the quarter, compared to analysts’ expectations of $8.92 billion. Visa had a net margin of 54.72% and a return on equity of 51.94%. The company’s revenue for the quarter was up 9.6% compared to the same quarter last year. During the same quarter last year, the company earned $2.16 EPS. On average, sell-side analysts anticipate that Visa will post 9.92 EPS for the current year.

Visa Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Tuesday, September 3rd. Stockholders of record on Friday, August 9th were given a dividend of $0.52 per share. The ex-dividend date was Friday, August 9th. This represents a $2.08 dividend on an annualized basis and a dividend yield of 0.73%. Visa’s payout ratio is 23.24%.

Insider Activity at Visa

In related news, CEO Ryan Mcinerney sold 8,620 shares of the business’s stock in a transaction that occurred on Tuesday, September 3rd. The shares were 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 owns 538 shares in the company, valued at $148,687.06. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. 0.19% of the stock is owned by company insiders.

Hedge Funds Weigh In On Visa

A number of large investors have recently bought and sold shares of the company. Alaethes Wealth LLC grew its position in shares of Visa by 0.4% in the 4th quarter. Alaethes Wealth LLC now owns 8,843 shares of the credit-card processor’s stock worth $2,302,000 after buying an additional 37 shares during the last quarter. Jessup Wealth Management Inc boosted its holdings in Visa by 0.7% in the first quarter. Jessup Wealth Management Inc now owns 5,051 shares of the credit-card processor’s stock valued at $1,410,000 after acquiring an additional 37 shares in the last quarter. Long Run Wealth Advisors LLC increased its position in Visa by 2.5% during the 1st quarter. Long Run Wealth Advisors LLC now owns 1,519 shares of the credit-card processor’s stock valued at $424,000 after purchasing an additional 37 shares during the period. Cordatus Wealth Management LLC raised its holdings in Visa by 0.3% in the 1st quarter. Cordatus Wealth Management LLC now owns 10,793 shares of the credit-card processor’s stock worth $3,012,000 after purchasing an additional 37 shares in the last quarter. Finally, Garden State Investment Advisory Services LLC lifted its position in shares of Visa by 1.8% in the 4th quarter. Garden State Investment Advisory Services LLC now owns 2,191 shares of the credit-card processor’s stock worth $571,000 after purchasing an additional 38 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.