Visa (NYSE:V) PT Raised to $308.00 at Bank of America

Visa (NYSE:V) had its target price upped by Bank of America from $279.00 to $308.00 in a research report report published on Tuesday morning, Benzinga reports. They currently have a neutral rating on the credit-card processor’s stock.

Several other brokerages have also recently commented on V. Jefferies Financial Group reduced their price target on Visa from $325.00 to $300.00 and set a buy rating for the company in a research report on Wednesday, July 24th. BNP Paribas raised Visa from a neutral rating to an outperform rating and set a $325.00 price objective for the company in a report on Tuesday, September 3rd. StockNews.com upgraded shares of Visa from a hold rating to a buy rating in a report on Friday, August 9th. JPMorgan Chase & Co. increased their price target on shares of Visa from $290.00 to $320.00 and gave the company an overweight rating in a research note on Tuesday, August 20th. Finally, Evercore ISI lowered their price objective on shares of Visa from $335.00 to $330.00 and set an outperform rating on the stock in a research note on Tuesday, June 25th. Six research analysts have rated the stock with a hold rating, twenty-four have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of Moderate Buy and a consensus target price of $310.22.

Visa Price Performance

NYSE V opened at $284.67 on Tuesday. The firm’s 50 day moving average is $270.65 and its 200-day moving average is $273.49. The company has a quick ratio of 1.37, a current ratio of 1.37 and a debt-to-equity ratio of 0.54. The company has a market capitalization of $518.76 billion, a PE ratio of 31.81, a price-to-earnings-growth ratio of 2.05 and a beta of 0.96. Visa has a 12-month low of $227.78 and a 12-month high of $293.07.

Visa (NYSE:V) last issued its quarterly earnings results on Tuesday, July 23rd. The credit-card processor reported $2.42 earnings per share (EPS) for the quarter, meeting the consensus estimate of $2.42. Visa had a net margin of 54.72% and a return on equity of 51.94%. The firm had revenue of $8.90 billion for the quarter, compared to analyst estimates of $8.92 billion. During the same period in the previous year, the business earned $2.16 EPS. The company’s revenue was up 9.6% compared to the same quarter last year. Equities research analysts anticipate that Visa will post 9.92 earnings per share for the current fiscal year.

Visa Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, September 3rd. Investors of record on Friday, August 9th were given a dividend of $0.52 per share. The ex-dividend date of this dividend was Friday, August 9th. This represents a $2.08 annualized dividend and a dividend yield of 0.73%. Visa’s dividend payout ratio is currently 23.24%.

Insiders Place Their Bets

In other news, CEO Ryan Mcinerney sold 8,620 shares of the stock in a transaction on Tuesday, September 3rd. The stock was sold at an average price of $276.37, for a total value of $2,382,309.40. Following the completion of the transaction, the chief executive officer now directly owns 538 shares in the company, valued at approximately $148,687.06. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 0.19% of the company’s stock.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in the business. Anchor Investment Management LLC grew its position in shares of Visa by 1.2% in the 2nd quarter. Anchor Investment Management LLC now owns 101,450 shares of the credit-card processor’s stock valued at $26,627,000 after buying an additional 1,157 shares during the last quarter. Heritage Wealth Management Inc. acquired a new position in shares of Visa in the second quarter worth approximately $721,000. Lazari Capital Management Inc. boosted its holdings in Visa by 31.3% in the second quarter. Lazari Capital Management Inc. now owns 5,536 shares of the credit-card processor’s stock valued at $1,453,000 after acquiring an additional 1,319 shares during the last quarter. Sanctuary Advisors LLC acquired a new stake in Visa during the 2nd quarter valued at approximately $87,426,000. Finally, Ghisallo Capital Management LLC bought a new position in Visa during the 2nd quarter worth approximately $38,027,000. 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.