Visa (NYSE:V) PT Lowered to $290.00 at JPMorgan Chase & Co.

Visa (NYSE:V) had its price target reduced by JPMorgan Chase & Co. from $300.00 to $290.00 in a research note issued to investors on Wednesday, Benzinga reports. JPMorgan Chase & Co. currently has an overweight rating on the credit-card processor’s stock.

A number of other equities analysts have also recently weighed in on the stock. Macquarie upped their price objective on shares of Visa from $290.00 to $300.00 and gave the stock an outperform rating in a research report on Wednesday, April 24th. Wedbush raised their price target on shares of Visa from $280.00 to $300.00 and gave the company an outperform rating in a research note on Wednesday, April 24th. Mizuho boosted their price target on Visa from $265.00 to $275.00 and gave the stock a neutral rating in a research report on Thursday, May 2nd. Bank of America reiterated a neutral rating and issued a $297.00 target price (down from $305.00) on shares of Visa in a research report on Wednesday, July 10th. Finally, Morgan Stanley cut their price objective on Visa from $326.00 to $322.00 and set an overweight rating for the company in a research report on Wednesday. Six investment analysts have rated the stock with a hold rating, twenty-one have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of Moderate Buy and an average target price of $307.25.

Visa Stock Up 2.3 %

Visa stock opened at $259.46 on Wednesday. The company has a debt-to-equity ratio of 0.54, a quick ratio of 1.40 and a current ratio of 1.37. Visa has a fifty-two week low of $227.78 and a fifty-two week high of $290.96. The company has a market cap of $474.54 billion, a PE ratio of 28.99, a PEG ratio of 1.77 and a beta of 0.95. The business’s 50-day simple moving average is $270.03 and its two-hundred day simple moving average is $274.23.

Visa (NYSE:V) last announced its quarterly earnings results on Tuesday, July 23rd. The credit-card processor reported $2.42 earnings per share for the quarter, hitting the consensus estimate of $2.42. The company had revenue of $8.90 billion for the quarter, compared to the consensus estimate of $8.92 billion. Visa had a return on equity of 51.94% and a net margin of 54.72%. The firm’s revenue for the quarter was up 9.6% compared to the same quarter last year. During the same period last year, the firm earned $2.16 EPS. Equities analysts anticipate that Visa will post 9.94 EPS for the current year.

Visa Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Tuesday, September 3rd. Stockholders of record on Friday, August 9th will be given a $0.52 dividend. This represents a $2.08 dividend on an annualized basis and a dividend yield of 0.80%. The ex-dividend date is Friday, August 9th. Visa’s dividend payout ratio is currently 23.24%.

Insider Buying and Selling

In other Visa news, insider Paul D. Fabara sold 25,293 shares of the stock in a transaction on Wednesday, May 15th. The stock was sold at an average price of $277.15, for a total transaction of $7,009,954.95. Following the sale, the insider now owns 17,894 shares in the company, valued at approximately $4,959,322.10. The sale was disclosed in a legal filing with the SEC, which is available through this link. Insiders own 0.19% of the company’s stock.

Institutional Investors Weigh In On Visa

Several institutional investors and hedge funds have recently modified their holdings of V. Norges Bank purchased a new position in Visa in the 4th quarter valued at about $3,895,015,000. International Assets Investment Management LLC grew its position in shares of Visa by 17,418.7% during the fourth quarter. International Assets Investment Management LLC now owns 4,737,229 shares of the credit-card processor’s stock worth $1,233,338,000 after buying an additional 4,710,188 shares in the last quarter. National Bank of Canada FI raised its holdings in Visa by 787.1% in the first quarter. National Bank of Canada FI now owns 4,619,881 shares of the credit-card processor’s stock valued at $1,296,820,000 after acquiring an additional 4,099,122 shares in the last quarter. Swedbank AB acquired a new position in Visa during the 1st quarter worth $511,321,000. Finally, GQG Partners LLC increased its position in shares of Visa by 40.1% in the 1st quarter. GQG Partners LLC now owns 5,990,634 shares of the credit-card processor’s stock worth $1,671,866,000 after purchasing an additional 1,715,686 shares during the last quarter. Hedge funds and other institutional investors own 82.15% of the company’s stock.

About Visa

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.