Visa (NYSE:V) Price Target Raised to $331.00 at Bank of America

Visa (NYSE:V) had its price target increased by Bank of America from $314.00 to $331.00 in a report published on Wednesday,Benzinga reports. Bank of America currently has a neutral rating on the credit-card processor’s stock.

A number of other research analysts have also weighed in on V. Macquarie raised their price objective on Visa from $300.00 to $335.00 and gave the company an “outperform” rating in a research report on Wednesday, October 30th. Oppenheimer raised their price target on Visa from $321.00 to $375.00 and gave the company an “outperform” rating in a report on Thursday, December 19th. Barclays upped their price target on shares of Visa from $319.00 to $347.00 and gave the stock an “overweight” rating in a research note on Monday, November 4th. Seaport Res Ptn upgraded shares of Visa from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, January 14th. Finally, Keefe, Bruyette & Woods upped their target price on shares of Visa from $335.00 to $360.00 and gave the stock an “outperform” rating in a research note on Monday, December 9th. Four research analysts have rated the stock with a hold rating, twenty-four have given a buy rating and two have assigned a strong buy rating to the company. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $332.81.

Visa Price Performance

Shares of NYSE V opened at $323.55 on Wednesday. Visa has a 1 year low of $252.70 and a 1 year high of $325.74. The stock has a market capitalization of $602.73 billion, a P/E ratio of 33.25, a P/E/G ratio of 2.17 and a beta of 0.96. The company’s 50-day moving average is $313.86 and its 200 day moving average is $289.47. The company has a debt-to-equity ratio of 0.55, a current ratio of 1.28 and a quick ratio of 1.28.

Visa (NYSE:V) last announced its earnings results on Tuesday, October 29th. The credit-card processor reported $2.71 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.58 by $0.13. Visa had a return on equity of 53.16% and a net margin of 54.96%. The firm had revenue of $9.62 billion during the quarter, compared to analyst estimates of $9.49 billion. During the same quarter in the prior year, the company earned $2.33 EPS. The business’s revenue was up 11.7% compared to the same quarter last year. On average, sell-side analysts expect that Visa will post 11.2 earnings per share for the current year.

Visa Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, December 2nd. Investors of record on Tuesday, November 12th were issued a $0.59 dividend. This is a boost from Visa’s previous quarterly dividend of $0.52. This represents a $2.36 dividend on an annualized basis and a yield of 0.73%. The ex-dividend date was Tuesday, November 12th. Visa’s dividend payout ratio (DPR) is currently 24.25%.

Insider Activity at Visa

In other news, CEO Ryan Mcinerney sold 8,620 shares of Visa stock in a transaction dated Thursday, January 2nd. The stock was sold at an average price of $317.78, for a total transaction of $2,739,263.60. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, insider Paul D. Fabara sold 2,171 shares of the stock in a transaction that occurred on Friday, November 22nd. The stock was sold at an average price of $307.97, for a total transaction of $668,602.87. Following the completion of the sale, the insider now directly owns 17,894 shares of the company’s stock, valued at $5,510,815.18. This represents a 10.82 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.13% of the stock is owned by company insiders.

Institutional Trading of Visa

Several institutional investors and hedge funds have recently modified their holdings of V. Mayflower Financial Advisors LLC raised its stake in Visa by 2.2% during the 4th quarter. Mayflower Financial Advisors LLC now owns 11,971 shares of the credit-card processor’s stock valued at $3,783,000 after purchasing an additional 257 shares during the period. BSW Wealth Partners grew its holdings in Visa by 7.5% during the 4th quarter. BSW Wealth Partners now owns 6,325 shares of the credit-card processor’s stock valued at $1,999,000 after buying an additional 442 shares in the last quarter. Spectrum Planning & Advisory Services Inc. bought a new stake in shares of Visa during the fourth quarter valued at approximately $205,000. Falcon Wealth Planning lifted its holdings in shares of Visa by 5.4% in the fourth quarter. Falcon Wealth Planning now owns 1,468 shares of the credit-card processor’s stock worth $464,000 after buying an additional 75 shares in the last quarter. Finally, Patriot Financial Group Insurance Agency LLC boosted its position in shares of Visa by 3.8% during the fourth quarter. Patriot Financial Group Insurance Agency LLC now owns 13,241 shares of the credit-card processor’s stock worth $4,185,000 after acquiring an additional 479 shares during the last quarter. 82.15% of the stock is currently owned by institutional investors.

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.