Visa Inc. (V) Receives Consensus Recommendation of “Buy” from Brokerages
Shares of Visa Inc. (NYSE:V) have earned an average rating of “Buy” from the thirty-two research firms that are currently covering the stock, MarketBeat.com reports. Four research analysts have rated the stock with a hold rating, twenty-five have issued a buy rating and two have issued a strong buy rating on the company. The average 1-year price objective among brokerages that have issued a report on the stock in the last year is $104.56.
V has been the topic of several research analyst reports. CIBC boosted their price objective on Visa from $95.00 to $100.00 and gave the company an “outperform” rating in a report on Wednesday, April 26th. Zacks Investment Research upgraded Visa from a “hold” rating to a “buy” rating and set a $106.00 price objective on the stock in a report on Monday, May 29th. Deutsche Bank AG boosted their price objective on Visa from $124.00 to $150.00 and gave the company a “buy” rating in a report on Monday, July 10th. Vetr cut Visa from a “hold” rating to a “sell” rating and set a $92.84 target price for the company. in a research note on Monday, June 5th. Finally, Cowen and Company reissued an “outperform” rating and set a $105.00 target price (up from $100.00) on shares of Visa in a research note on Sunday, April 23rd.
In other news, EVP Tullier Kelly Mahon sold 29,772 shares of Visa stock in a transaction that occurred 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 sale, the executive vice president now owns 17,360 shares of the company’s stock, valued at $1,751,797.60. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Insiders own 0.14% of the company’s stock.
Hedge funds and other institutional investors have recently bought and sold shares of the stock. Krilogy Financial LLC boosted its position in Visa by 0.3% in the second quarter. Krilogy Financial LLC now owns 2,572 shares of the credit-card processor’s stock valued at $241,000 after buying an additional 7 shares during the last quarter. Integrated Investment Consultants LLC boosted its position in Visa by 0.7% in the first quarter. Integrated Investment Consultants LLC now owns 2,961 shares of the credit-card processor’s stock valued at $263,000 after buying an additional 20 shares in the last quarter. Capital Investment Advisory Services LLC boosted its position in Visa by 0.4% in the second quarter. Capital Investment Advisory Services LLC now owns 4,747 shares of the credit-card processor’s stock valued at $445,000 after buying an additional 20 shares in the last quarter. Baker Ellis Asset Management LLC boosted its position in Visa by 0.3% in the second quarter. Baker Ellis Asset Management LLC now owns 6,262 shares of the credit-card processor’s stock valued at $587,000 after buying an additional 20 shares in the last quarter. Finally, Mercer Capital Advisers Inc. boosted its position in Visa by 2.2% in the first quarter. Mercer Capital Advisers Inc. now owns 1,167 shares of the credit-card processor’s stock valued at $104,000 after buying an additional 25 shares in the last quarter. 82.29% of the stock is currently owned by institutional investors.
Shares of Visa (NYSE:V) traded up 0.34% during mid-day trading on Tuesday, hitting $102.51. The stock had a trading volume of 5,669,824 shares. The firm has a 50 day moving average of $98.54 and a 200-day moving average of $92.63. Visa has a one year low of $75.17 and a one year high of $103.93. The stock has a market cap of $234.38 billion, a P/E ratio of 38.12 and a beta of 0.94. Visa also saw some unusual options trading on Wednesday. Traders bought 12,583 put options on the company. This represents an increase of approximately 163% compared to the average volume of 4,785 put options.
Visa (NYSE:V) last posted its earnings results on Thursday, July 20th. The credit-card processor reported $0.86 EPS for the quarter, beating the Zacks’ consensus estimate of $0.81 by $0.05. The company had revenue of $4.57 billion for the quarter, compared to the consensus estimate of $4.36 billion. Visa had a return on equity of 30.95% and a net margin of 36.53%. The company’s revenue for the quarter was up 25.8% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.69 earnings per share. Equities research analysts expect that Visa will post $3.43 earnings per share for the current fiscal year.
Visa declared that its Board of Directors has approved a share buyback plan on Thursday, April 20th that authorizes the company to repurchase $5.00 billion in shares. This repurchase authorization authorizes the credit-card processor to purchase up to 2.4% of its stock through open market purchases. Stock repurchase plans are typically an indication that the company’s leadership believes its stock is undervalued.
The business also recently announced a quarterly dividend, which will be paid on Tuesday, September 5th. Shareholders 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 dividend on an annualized basis and a yield of 0.64%. Visa’s payout ratio is currently 24.54%.
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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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