Visa Inc. (V) Now Covered by Analysts at Stephens
Analysts at Stephens started coverage on shares of Visa Inc. (NYSE:V) in a research report issued on Friday, The Fly reports. The firm set an “overweight” rating on the credit-card processor’s stock.
V has been the subject of several other reports. Wells Fargo & Company raised Visa from a “market perform” rating to an “outperform” rating and increased their price objective for the company from $107.01 to $120.00 in a report on Tuesday. UBS AG reissued an “overweight” rating on shares of Visa in a report on Thursday, August 24th. Deutsche Bank AG increased 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. Nomura increased their price objective on Visa from $105.00 to $120.00 and gave the company a “buy” rating in a report on Friday, July 21st. Finally, KeyCorp reissued a “buy” rating and set a $110.00 price objective on shares of Visa in a report on Friday, August 25th. Two investment analysts have rated the stock with a hold rating, thirty-two have issued a buy rating and one has given a strong buy rating to the company. The company currently has a consensus rating of “Buy” and a consensus target price of $109.40.
Visa (NYSE:V) last issued its quarterly 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 during 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%. Visa’s revenue was up 25.8% on a year-over-year basis. During the same period last year, the business posted $0.69 earnings per share.
In other news, Director Mary B. Cranston sold 10,400 shares of Visa stock in a transaction dated Thursday, August 17th. The stock was sold at an average price of $103.32, for a total value of $1,074,528.00. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, EVP Tullier Kelly Mahon sold 29,772 shares of Visa stock in a transaction dated Thursday, July 27th. The stock was sold at an average price of $100.91, for a total value of $3,004,292.52. Following the completion of the transaction, the executive vice president now owns 17,360 shares in the company, valued at approximately $1,751,797.60. The disclosure for this sale can be found here. 0.14% of the stock is currently owned by insiders.
Several institutional investors and hedge funds have recently added to or reduced their stakes in V. Jennison Associates increased its holdings in shares of Visa by 21.6% in the third quarter. Jennison Associates now owns 28,055,431 shares of the credit-card processor’s stock worth $1,954,341,000 after buying an additional 4,977,221 shares during the period. Perigon Wealth Management increased its holdings in shares of Visa by 284.3% in the third quarter. Perigon Wealth Management now owns 32,618 shares of the credit-card processor’s stock worth $2,272,000 after buying an additional 24,130 shares during the period. Terra Nova Asset Management purchased a new position in shares of Visa in the third quarter worth about $475,000. ING Groep increased its holdings in shares of Visa by 10.5% in the third quarter. ING Groep now owns 1,069,012 shares of the credit-card processor’s stock worth $74,168,000 after buying an additional 101,292 shares during the period. Finally, Meag Munich Ergo Kapitalanlagegesellschaft purchased a new position in shares of Visa in the third quarter worth about $21,356,000. Hedge funds and other institutional investors own 81.68% 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.
Receive News & Ratings for Visa Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Visa Inc. and related companies with MarketBeat.com's FREE daily email newsletter.