Visa (NYSE:V) Trading 0.5% Higher on Analyst Upgrade

Visa Inc. (NYSE:V) rose 0.5% on Monday after Barclays raised their price target on the stock from $319.00 to $347.00. Barclays currently has an overweight rating on the stock. Visa traded as high as $293.15 and last traded at $292.31. Approximately 1,008,569 shares were traded during mid-day trading, a decline of 86% from the average daily volume of 7,042,163 shares. The stock had previously closed at $290.74.

Several other equities research analysts have also recently issued reports on V. BNP Paribas upgraded Visa from a “neutral” rating to an “outperform” rating and set a $325.00 price objective on the stock in a report on Tuesday, September 3rd. Oppenheimer restated an “outperform” rating and set a $321.00 price target (up from $318.00) on shares of Visa in a research note on Wednesday, October 30th. Citigroup increased their target price on shares of Visa from $319.00 to $326.00 and gave the stock a “buy” rating in a research report on Wednesday, October 30th. Macquarie raised their price target on shares of Visa from $300.00 to $335.00 and gave the company an “outperform” rating in a report on Wednesday, October 30th. Finally, Keefe, Bruyette & Woods upgraded shares of Visa from a “moderate buy” rating to a “strong-buy” rating in a research note on Tuesday, September 24th. Four equities research analysts have rated the stock with a hold rating, twenty-four have issued a buy rating and two have issued a strong buy rating to the company. According to MarketBeat, Visa presently has a consensus rating of “Moderate Buy” and an average target price of $321.74.

Insider Buying and Selling

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 stock was 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 trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. 0.19% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Visa

A number of institutional investors and hedge funds have recently added to or reduced their stakes in V. WFA Asset Management Corp increased its stake in shares of Visa by 4.6% during the first quarter. WFA Asset Management Corp now owns 2,263 shares of the credit-card processor’s stock valued at $632,000 after acquiring an additional 100 shares during the period. China Universal Asset Management Co. Ltd. lifted its stake in Visa by 46.9% during the first quarter. China Universal Asset Management Co. Ltd. now owns 50,328 shares of the credit-card processor’s stock valued at $14,046,000 after purchasing an additional 16,078 shares during the last quarter. ESG Planning DBA Harper Investing acquired a new stake in Visa during the first quarter valued at approximately $391,000. Moloney Securities Asset Management LLC grew its position in Visa by 3.5% in the first quarter. Moloney Securities Asset Management LLC now owns 21,831 shares of the credit-card processor’s stock worth $6,093,000 after buying an additional 730 shares during the last quarter. Finally, Trust Co of Kansas increased its holdings in shares of Visa by 1.2% in the first quarter. Trust Co of Kansas now owns 19,036 shares of the credit-card processor’s stock valued at $5,313,000 after buying an additional 234 shares in the last quarter. 82.15% of the stock is owned by institutional investors.

Visa Price Performance

The company has a market cap of $532.68 billion, a price-to-earnings ratio of 30.04, a P/E/G ratio of 1.94 and a beta of 0.95. 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 business has a 50-day moving average price of $281.00 and a 200 day moving average price of $273.66.

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

Visa Increases Dividend

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

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.