Visa (NYSE:V) Receives “Overweight” Rating from Piper Sandler

Piper Sandler reissued their overweight rating on shares of Visa (NYSE:V) in a research report sent to investors on Friday morning,Benzinga reports. The firm currently has a $383.00 price target on the credit-card processor’s stock, up from their previous price target of $368.00.

V has been the topic of several other reports. Jefferies Financial Group increased their target price on shares of Visa from $320.00 to $330.00 and gave the stock a “buy” rating in a research report on Wednesday, October 30th. Deutsche Bank Aktiengesellschaft raised their price target on Visa from $300.00 to $340.00 and gave the company a “buy” rating in a research report on Wednesday, October 30th. Mizuho raised their price target on Visa from $279.00 to $292.00 and gave the company a “neutral” rating in a research report on Friday, November 1st. Citigroup raised their price target on Visa from $354.00 to $393.00 and gave the company a “buy” rating in a research report on Friday. Finally, Seaport Res Ptn raised Visa from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, January 14th. Four equities research analysts have rated the stock with a hold rating, twenty-five have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $352.85.

Visa Price Performance

V opened at $342.05 on Friday. The stock has a fifty day moving average of $317.74 and a 200-day moving average of $293.27. The firm has a market capitalization of $637.19 billion, a P/E ratio of 34.48, a PEG ratio of 2.30 and a beta of 0.97. Visa has a 12-month low of $252.70 and a 12-month high of $351.25. The company has a quick ratio of 1.28, a current ratio of 1.12 and a debt-to-equity ratio of 0.45.

Visa (NYSE:V) last posted its quarterly earnings results on Thursday, January 30th. The credit-card processor reported $2.75 earnings per share for the quarter, topping analysts’ consensus estimates of $2.66 by $0.09. Visa had a net margin of 54.27% and a return on equity of 54.79%. Equities analysts forecast that Visa will post 11.2 EPS for the current fiscal year.

Visa Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, March 3rd. Stockholders of record on Tuesday, February 11th will be paid a $0.59 dividend. This represents a $2.36 dividend on an annualized basis and a dividend yield of 0.69%. The ex-dividend date is Tuesday, February 11th. Visa’s dividend payout ratio (DPR) is currently 23.79%.

Insider Activity

In other Visa news, insider Paul D. Fabara sold 2,171 shares of Visa stock in a transaction on Friday, November 22nd. The shares were sold at an average price of $307.97, for a total transaction of $668,602.87. Following the completion of the sale, the insider now owns 17,894 shares of the company’s stock, valued at approximately $5,510,815.18. The trade was a 10.82 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Ryan Mcinerney sold 8,620 shares of Visa stock in a transaction on Thursday, January 2nd. The stock was sold at an average price of $317.78, for a total transaction of $2,739,263.60. The disclosure for this sale can be found here. 0.13% of the stock is currently owned by corporate insiders.

Institutional Trading of Visa

A number of institutional investors have recently bought and sold shares of V. Cumberland Partners Ltd boosted its position in shares of Visa by 0.5% during the fourth quarter. Cumberland Partners Ltd now owns 152,652 shares of the credit-card processor’s stock worth $48,244,000 after purchasing an additional 750 shares in the last quarter. Abacus Planning Group Inc. boosted its position in shares of Visa by 8.1% during the fourth quarter. Abacus Planning Group Inc. now owns 1,630 shares of the credit-card processor’s stock worth $515,000 after purchasing an additional 122 shares in the last quarter. Ieq Capital LLC boosted its position in shares of Visa by 7.0% during the fourth quarter. Ieq Capital LLC now owns 179,101 shares of the credit-card processor’s stock worth $56,603,000 after purchasing an additional 11,647 shares in the last quarter. Freedom Day Solutions LLC boosted its position in shares of Visa by 3.2% during the fourth quarter. Freedom Day Solutions LLC now owns 1,188 shares of the credit-card processor’s stock worth $375,000 after purchasing an additional 37 shares in the last quarter. Finally, TBH Global Asset Management LLC boosted its position in shares of Visa by 1.1% during the fourth quarter. TBH Global Asset Management LLC now owns 10,508 shares of the credit-card processor’s stock worth $3,321,000 after purchasing an additional 113 shares in the last quarter. Institutional investors and hedge funds own 82.15% of the company’s stock.

Visa Company Profile

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.