Visa (NYSE:V) had its price target boosted by investment analysts at KeyCorp from $125.00 to $140.00 in a report issued on Friday. The brokerage currently has an “overweight” rating on the credit-card processor’s stock. KeyCorp’s price objective points to a potential upside of 15.79% from the company’s current price. KeyCorp also issued estimates for Visa’s Q2 2018 earnings at $1.00 EPS, Q3 2018 earnings at $1.11 EPS, Q4 2018 earnings at $1.22 EPS, FY2018 earnings at $4.40 EPS, Q1 2019 earnings at $1.26 EPS, Q2 2019 earnings at $1.21 EPS, Q3 2019 earnings at $1.30 EPS and Q4 2019 earnings at $1.42 EPS.
Other equities analysts have also recently issued reports about the company. Keefe, Bruyette & Woods reiterated a “buy” rating on shares of Visa in a research note on Thursday. Loop Capital increased their target price on Visa from $111.00 to $123.00 and gave the company a “buy” rating in a research note on Thursday, October 26th. Morgan Stanley increased their target price on Visa from $126.00 to $137.00 and gave the company an “overweight” rating in a research note on Thursday, January 25th. Cantor Fitzgerald reiterated a “buy” rating and set a $123.00 target price on shares of Visa in a research note on Monday, January 29th. Finally, Cowen reiterated a “buy” rating and set a $107.00 target price on shares of Visa in a research note on Thursday, October 12th. Three equities research analysts have rated the stock with a hold rating, thirty-one have assigned a buy rating and one has issued a strong buy rating to the stock. The company presently has a consensus rating of “Buy” and a consensus target price of $131.97.
Shares of Visa (NYSE V) traded down $4.73 during trading hours on Friday, reaching $120.91. 13,940,000 shares of the company’s stock traded hands, compared to its average volume of 7,160,000. The company has a debt-to-equity ratio of 0.61, a current ratio of 1.90 and a quick ratio of 1.90. Visa has a one year low of $84.88 and a one year high of $126.88. The firm has a market capitalization of $274,010.00, a P/E ratio of 40.04, a price-to-earnings-growth ratio of 1.82 and a beta of 1.03.
Visa announced that its board has initiated a share repurchase plan on Thursday, February 1st that authorizes the company to repurchase $7.50 billion in outstanding shares. This repurchase authorization authorizes the credit-card processor to repurchase shares of its stock through open market purchases. Stock repurchase plans are typically a sign that the company’s board believes its stock is undervalued.
In other Visa news, Director Robert W. Matschullat sold 6,220 shares of the firm’s stock in a transaction on Wednesday, December 13th. The stock was sold at an average price of $113.76, for a total value of $707,587.20. Following the sale, the director now directly owns 57,368 shares in the company, valued at $6,526,183.68. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Tullier Kelly Mahon sold 49,702 shares of the firm’s stock in a transaction on Friday, December 15th. The shares were sold at an average price of $113.66, for a total value of $5,649,129.32. Following the completion of the sale, the executive vice president now owns 76,202 shares in the company, valued at $8,661,119.32. The disclosure for this sale can be found here. Insiders sold 58,068 shares of company stock worth $6,597,262 over the last quarter. 0.14% of the stock is currently owned by company insiders.
A number of hedge funds have recently bought and sold shares of the business. Roble Belko & Company Inc increased its holdings in shares of Visa by 220.8% during the fourth quarter. Roble Belko & Company Inc now owns 879 shares of the credit-card processor’s stock valued at $100,000 after purchasing an additional 605 shares during the period. Welch Investments LLC acquired a new position in shares of Visa during the third quarter valued at $101,000. Cordasco Financial Network acquired a new position in shares of Visa during the third quarter valued at $105,000. Motco increased its holdings in shares of Visa by 25.1% during the second quarter. Motco now owns 1,176 shares of the credit-card processor’s stock valued at $110,000 after purchasing an additional 236 shares during the period. Finally, Massey Quick Simon & CO. LLC acquired a new position in shares of Visa during the third quarter valued at $110,000. Institutional investors own 81.66% of the company’s stock.
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About Visa
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.
