Wells Fargo & Company restated their market perform rating on shares of Visa Inc. (NYSE:V) in a research note issued to investors on Saturday, July 22nd. Wells Fargo & Company currently has a $100.00 target price on the credit-card processor’s stock, up from their previous target price of $87.50.
Several other equities research analysts also recently commented on the company. Credit Suisse Group set a $112.00 target price on Visa and gave the company a buy rating in a report on Saturday, July 22nd. Barclays PLC reissued an overweight rating and issued a $114.00 price objective (up from $111.00) on shares of Visa in a research note on Saturday, July 22nd. Morgan Stanley reissued an overweight rating and issued a $114.00 price objective (up from $107.00) on shares of Visa in a research note on Saturday, July 22nd. Cowen and Company reissued an outperform rating and issued a $107.00 price objective (up from $105.00) on shares of Visa in a research note on Saturday, July 22nd. Finally, Bank of America Corporation increased their price objective on Visa from $103.00 to $111.00 and gave the stock a buy rating in a research note on Friday, July 21st. Four research analysts have rated the stock with a hold rating, twenty-six have issued a buy rating and two have assigned a strong buy rating to the stock. The company presently has an average rating of Buy and an average target price of $104.56.
Visa (NYSE:V) traded up 0.34% on Friday, reaching $102.51. 5,670,884 shares of the company’s stock were exchanged. The firm has a 50 day moving average of $98.78 and a 200-day moving average of $92.76. The stock has a market cap of $234.38 billion, a price-to-earnings ratio of 38.12 and a beta of 0.94. Visa has a one year low of $75.17 and a one year high of $103.93. Visa also was the target of some unusual options trading on Wednesday. Investors bought 12,583 put options on the stock. This is an increase of 163% compared to the typical volume of 4,785 put options.
Visa (NYSE:V) last announced its earnings results on Thursday, July 20th. The credit-card processor reported $0.86 EPS for the quarter, beating the 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 business had revenue of $4.57 billion during the quarter, compared to the consensus estimate of $4.36 billion. During the same period in the prior year, the business posted $0.69 earnings per share. Visa’s revenue was up 25.8% compared to the same quarter last year. Equities research analysts forecast that Visa will post $3.43 EPS for the current fiscal year.
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The company also recently announced a quarterly dividend, which will be paid on Tuesday, September 5th. Stockholders 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 annualized dividend and a dividend yield of 0.64%. Visa’s dividend payout ratio (DPR) is currently 24.54%.
In related news, EVP Tullier Kelly Mahon sold 29,772 shares of Visa stock in a transaction 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 completion of the sale, the executive vice president now directly 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 SEC, which can be accessed through the SEC website. 0.14% of the stock is owned by insiders.
A number of hedge funds and other institutional investors have recently bought and sold shares of V. Vantage Financial Partners Ltd. Inc. purchased a new stake in shares of Visa during the second quarter worth approximately $958,000. Mercer Capital Advisers Inc. raised its stake in shares of 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 raised its stake in shares of 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 purchased a new stake in shares of Visa during the second quarter worth approximately $115,000. Finally, Mascoma Wealth Management LLC purchased a new stake in shares of Visa during the second quarter worth approximately $122,000. Hedge funds and other institutional investors own 82.29% of the company’s stock.
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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