Visa Inc. (NYSE:V) had its price target hoisted by Instinet from $105.00 to $120.00 in a research report report published on Friday, July 21st, Marketbeat Ratings reports. Instinet currently has a buy rating on the credit-card processor’s stock.
Other analysts also recently issued research reports about the company. Vetr downgraded Visa from a hold rating to a sell rating and set a $92.84 target price on the stock. in a research report on Monday, June 5th. CIBC boosted their price target on Visa from $95.00 to $100.00 and gave the stock an outperform rating in a research report on Wednesday, April 26th. BidaskClub downgraded Visa from a strong-buy rating to a buy rating in a research report on Tuesday, June 13th. Zacks Investment Research downgraded Visa from a buy rating to a hold rating in a research report on Friday, May 26th. Finally, Sandler O’Neill reissued a hold rating on shares of Visa in a research report on Wednesday, June 21st. Four research analysts have rated the stock with a hold rating, twenty-six have assigned a buy rating and two have given a strong buy rating to the stock. Visa presently has a consensus rating of Buy and a consensus target price of $104.56.
Shares of Visa (NYSE V) traded up 0.34% on Friday, hitting $102.51. The stock had a trading volume of 5,670,884 shares. The firm has a market cap of $234.38 billion, a P/E ratio of 38.12 and a beta of 0.94. Visa has a 12-month low of $75.17 and a 12-month high of $103.93. The company’s 50-day moving average price is $98.78 and its 200 day moving average price is $92.76. Visa also was the recipient of some unusual options trading on Wednesday. Stock traders purchased 12,583 put options on the stock. This is an increase of approximately 163% compared to the typical daily volume of 4,785 put options.
Visa (NYSE:V) last released its quarterly earnings results on Thursday, July 20th. The credit-card processor reported $0.86 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.81 by $0.05. Visa had a return on equity of 30.95% and a net margin of 36.53%. The firm had revenue of $4.57 billion for the quarter, compared to the consensus estimate of $4.36 billion. During the same quarter last year, the business posted $0.69 EPS. The company’s revenue for the quarter was up 25.8% on a year-over-year basis. On average, equities research analysts forecast that Visa will post $3.43 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Tuesday, September 5th. Shareholders of record on Friday, August 18th will be given a dividend of $0.165 per share. The ex-dividend date is Wednesday, August 16th. This represents a $0.66 dividend on an annualized basis and a yield of 0.64%. Visa’s dividend payout ratio (DPR) is currently 24.54%.
Visa announced that its Board of Directors has approved a share buyback plan on Thursday, April 20th that permits the company to buyback $5.00 billion in outstanding shares. This buyback authorization permits the credit-card processor to buy up to 2.4% of its shares through open market purchases. Shares buyback plans are typically a sign that the company’s management believes its stock is undervalued.
In other Visa news, EVP Tullier Kelly Mahon sold 29,772 shares of the company’s stock in a transaction on Thursday, July 27th. The shares were 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 sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 0.14% of the company’s stock.
A number of hedge funds have recently modified their holdings of V. Renaissance Technologies LLC boosted its position in Visa by 441.9% in the fourth quarter. Renaissance Technologies LLC now owns 2,594,500 shares of the credit-card processor’s stock worth $202,423,000 after buying an additional 2,115,700 shares during the period. Oribel Capital Management LP bought a new position in Visa during the fourth quarter worth about $1,171,000. Ally Financial Inc. bought a new position in Visa during the fourth quarter worth about $4,135,000. Davis Capital Partners LLC bought a new position in Visa during the fourth quarter worth about $31,208,000. Finally, Texas Yale Capital Corp. boosted its position in Visa by 137.1% in the fourth quarter. Texas Yale Capital Corp. now owns 18,879 shares of the credit-card processor’s stock worth $1,473,000 after buying an additional 10,915 shares during the period. 82.29% of the stock is currently owned by institutional investors and hedge funds.
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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