Shares of Visa Inc. (NYSE:V) have been assigned a consensus recommendation of “Buy” from the thirty-two ratings firms that are currently covering the stock, MarketBeat.com reports. Four equities research analysts have rated the stock with a hold rating, twenty-five have given a buy rating and two have given a strong buy rating to the company. The average 12-month price objective among brokers that have issued a report on the stock in the last year is $104.56.
A number of equities analysts have recently issued reports on the company. BidaskClub raised Visa from a “buy” rating to a “strong-buy” rating in a research note on Thursday. Zacks Investment Research downgraded Visa from a “buy” rating to a “hold” rating in a research note on Thursday, July 27th. Citigroup Inc. restated a “buy” rating and issued a $115.00 price target (up previously from $100.00) on shares of Visa in a report on Monday, July 24th. Bank of America Corporation upped their price target on Visa from $103.00 to $111.00 and gave the stock a “buy” rating in a report on Friday, July 21st. Finally, Cowen and Company reiterated an “outperform” rating and set a $107.00 target price (up previously from $105.00) on shares of Visa in a report on Saturday, July 22nd.
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In other news, EVP Tullier Kelly Mahon sold 29,772 shares of Visa stock in a transaction that occurred on Thursday, July 27th. The stock was sold at an average price of $100.91, for a total transaction of $3,004,292.52. Following the sale, the executive vice president now owns 17,360 shares of the company’s stock, valued at $1,751,797.60. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Insiders own 0.14% of the company’s stock.
Several large investors have recently added to or reduced their stakes in the stock. Mercer Capital Advisers Inc. boosted its stake in Visa by 2.2% in the first quarter. Mercer Capital Advisers Inc. now owns 1,167 shares of the credit-card processor’s stock worth $104,000 after buying an additional 25 shares during the period. Motco boosted its stake in Visa by 25.1% in the second quarter. Motco now owns 1,176 shares of the credit-card processor’s stock worth $110,000 after buying an additional 236 shares during the period. BDO Wealth Advisors LLC acquired a new stake in Visa during the second quarter worth $115,000. Mascoma Wealth Management LLC acquired a new stake in Visa during the second quarter worth $122,000. Finally, SpiderRock Advisors LLC boosted its stake in Visa by 107.1% in the second quarter. SpiderRock Advisors LLC now owns 1,309 shares of the credit-card processor’s stock worth $124,000 after buying an additional 19,709 shares during the period. 82.46% of the stock is currently owned by institutional investors.
Shares of Visa (NYSE V) opened at 99.49 on Friday. The firm’s 50 day moving average price is $97.57 and its 200-day moving average price is $91.96. The company has a market capitalization of $227.48 billion, a P/E ratio of 37.00 and a beta of 0.94. Visa has a 1-year low of $75.17 and a 1-year high of $101.72.
Visa (NYSE:V) last posted its quarterly earnings data on Thursday, July 20th. The credit-card processor reported $0.86 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.81 by $0.05. The firm had revenue of $4.57 billion during the quarter, compared to the consensus estimate of $4.36 billion. Visa had a return on equity of 30.95% and a net margin of 36.53%. The firm’s revenue was up 25.8% compared to the same quarter last year. During the same period in the prior year, the business earned $0.69 EPS. Analysts expect that Visa will post $3.43 EPS for the current year.
The business also recently announced a quarterly dividend, which will be paid on Tuesday, September 5th. Shareholders of record on Friday, August 18th will be paid a $0.165 dividend. The ex-dividend date of this dividend is Wednesday, August 16th. This represents a $0.66 dividend on an annualized basis and a yield of 0.66%. Visa’s payout ratio is currently 24.54%.
Visa announced that its board has authorized a share buyback plan on Thursday, April 20th that allows the company to buyback $5.00 billion in outstanding shares. This buyback authorization allows the credit-card processor to reacquire up to 2.4% of its shares through open market purchases. Shares buyback plans are usually an indication that the company’s management believes its stock is undervalued.
Visa Company Profile
Visa Inc (Visa) is a payments technology company that connects consumers, merchants, financial institutions, businesses, strategic partners and government entities to electronic payments. The Company operates through payment services segment. The Company enables global commerce through the transfer of value and information among the participants.
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