Visa (NYSE:V) Price Target Raised to $325.00 at TD Cowen

Visa (NYSE:V) had its target price hoisted by TD Cowen from $318.00 to $325.00 in a research report report published on Wednesday, Benzinga reports. They currently have a buy rating on the credit-card processor’s stock.

A number of other brokerages have also recently issued reports on V. Robert W. Baird lifted their target price on Visa from $330.00 to $340.00 and gave the stock an “outperform” rating in a report on Wednesday. Macquarie restated an “outperform” rating and set a $300.00 price objective on shares of Visa in a report on Friday, September 27th. Compass Point assumed coverage on shares of Visa in a report on Wednesday, September 4th. They issued a “buy” rating and a $319.00 target price for the company. JPMorgan Chase & Co. boosted their price target on shares of Visa from $290.00 to $320.00 and gave the company an “overweight” rating in a report on Tuesday, August 20th. Finally, BNP Paribas raised shares of Visa from a “neutral” rating to an “outperform” rating and set a $325.00 price objective for the company in a research note on Tuesday, September 3rd. Four analysts have rated the stock with a hold rating, twenty-four have assigned a buy rating and two have given a strong buy rating to the company’s stock. According to MarketBeat, Visa presently has an average rating of “Moderate Buy” and an average target price of $320.70.

Visa Price Performance

Shares of NYSE V opened at $290.74 on Wednesday. Visa has a twelve month low of $239.20 and a twelve month high of $296.34. The company has a current ratio of 1.28, a quick ratio of 1.37 and a debt-to-equity ratio of 0.55. The firm has a 50-day moving average of $281.00 and a two-hundred day moving average of $273.63. The company has a market capitalization of $529.82 billion, a price-to-earnings ratio of 29.88, a PEG ratio of 1.94 and a beta of 0.95.

Visa (NYSE:V) last released its earnings results on Tuesday, October 29th. The credit-card processor reported $2.71 EPS for the quarter, beating the consensus estimate of $2.58 by $0.13. The business had revenue of $9.62 billion during the quarter, compared to analyst estimates of $9.49 billion. Visa had a net margin of 54.96% and a return on equity of 53.16%. The business’s quarterly revenue was up 11.7% on a year-over-year basis. During the same period in the prior year, the business earned $2.33 earnings per share. As a group, analysts expect that Visa will post 11.17 earnings per share for the current fiscal year.

Visa Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, December 2nd. Shareholders of record on Tuesday, November 12th will be given a $0.59 dividend. The ex-dividend date of this dividend is Tuesday, November 12th. This represents a $2.36 dividend on an annualized basis and a dividend yield of 0.81%. This is a boost from Visa’s previous quarterly dividend of $0.52. Visa’s payout ratio is currently 21.38%.

Insider Buying and Selling

In other Visa news, CEO Ryan Mcinerney sold 8,620 shares of the stock in a transaction that occurred on Tuesday, September 3rd. The stock was sold at an average price of $276.37, for a total transaction of $2,382,309.40. Following the transaction, the chief executive officer now owns 538 shares in the company, valued at $148,687.06. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Corporate insiders own 0.19% of the company’s stock.

Institutional Trading of Visa

Large investors have recently modified their holdings of the company. International Assets Investment Management LLC grew its position in shares of Visa by 45,189.4% in the third quarter. International Assets Investment Management LLC now owns 9,758,505 shares of the credit-card processor’s stock valued at $2,683,101,000 after purchasing an additional 9,736,958 shares during the last quarter. SG Americas Securities LLC boosted its stake in Visa by 4,412.3% during the 3rd quarter. SG Americas Securities LLC now owns 4,072,467 shares of the credit-card processor’s stock valued at $1,119,725,000 after purchasing an additional 4,166,905 shares during the period. National Bank of Canada FI lifted its holdings in shares of Visa by 787.1% during the first quarter. National Bank of Canada FI now owns 4,619,881 shares of the credit-card processor’s stock worth $1,296,820,000 after buying an additional 4,099,122 shares during the last quarter. Swedbank AB acquired a new stake in Visa in the 1st quarter worth $511,321,000. Finally, GQG Partners LLC increased its stake in Visa by 40.1% during the first quarter. GQG Partners LLC now owns 5,990,634 shares of the credit-card processor’s stock valued at $1,671,866,000 after acquiring an additional 1,715,686 shares during the period. 82.15% of the stock is owned by institutional investors.

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.