Visa (NYSE:V) Price Target Raised to $380.00 at BMO Capital Markets

Visa (NYSE:V) had its target price boosted by BMO Capital Markets from $370.00 to $380.00 in a research report report published on Wednesday morning,Benzinga reports. The firm currently has an outperform rating on the credit-card processor’s stock.

Several other equities analysts have also issued reports on the company. Bank of America lifted their price target on Visa from $331.00 to $363.00 and gave the company a “neutral” rating in a research note on Friday, January 31st. Piper Sandler boosted their target price on Visa from $383.00 to $384.00 and gave the stock an “overweight” rating in a research note on Wednesday. Raymond James restated an “outperform” rating and issued a $393.00 price target (up from $374.00) on shares of Visa in a research note on Friday, January 31st. The Goldman Sachs Group upped their price objective on shares of Visa from $346.00 to $384.00 and gave the stock a “buy” rating in a research report on Friday, January 31st. Finally, Wells Fargo & Company raised their target price on shares of Visa from $360.00 to $395.00 and gave the company an “overweight” rating in a research report on Friday, January 31st. Seven investment analysts have rated the stock with a hold rating, twenty have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, Visa has a consensus rating of “Moderate Buy” and an average target price of $362.38.

Visa Stock Up 1.5 %

V stock opened at $347.66 on Wednesday. Visa has a 52 week low of $252.70 and a 52 week high of $366.54. The business has a 50-day simple moving average of $337.61 and a 200 day simple moving average of $324.57. The company has a quick ratio of 1.12, a current ratio of 1.12 and a debt-to-equity ratio of 0.45. The company has a market cap of $645.87 billion, a PE ratio of 35.05, a price-to-earnings-growth ratio of 2.33 and a beta of 0.94.

Visa (NYSE:V) last issued its earnings results on Tuesday, April 29th. The credit-card processor reported $2.76 EPS for the quarter, beating the consensus estimate of $2.68 by $0.08. The company had revenue of $9.59 billion during the quarter, compared to analysts’ expectations of $9.57 billion. Visa had a net margin of 54.27% and a return on equity of 54.79%. The business’s revenue for the quarter was up 9.3% compared to the same quarter last year. During the same period in the previous year, the company earned $2.51 EPS. Sell-side analysts anticipate that Visa will post 11.3 EPS for the current fiscal year.

Visa Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, June 2nd. Shareholders of record on Tuesday, May 13th will be paid a $0.59 dividend. This represents a $2.36 annualized dividend and a yield of 0.68%. The ex-dividend date is Tuesday, May 13th. Visa’s dividend payout ratio (DPR) is presently 23.79%.

Insider Transactions at Visa

In other news, CAO Peter M. Andreski sold 2,332 shares of the firm’s stock in a transaction dated Friday, February 7th. The stock was sold at an average price of $349.62, for a total value of $815,313.84. Following the completion of the sale, the chief accounting officer now directly owns 4,488 shares in the company, valued at $1,569,094.56. This trade represents a 34.19 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. Also, General Counsel Julie B. Rottenberg sold 2,572 shares of the business’s stock in a transaction dated Monday, February 3rd. The shares were sold at an average price of $340.00, for a total value of $874,480.00. Following the completion of the sale, the general counsel now directly owns 11,925 shares of the company’s stock, valued at $4,054,500. The trade was a 17.74 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 154,400 shares of company stock valued at $52,711,258 in the last quarter. 0.13% of the stock is currently owned by company insiders.

Institutional Trading of Visa

A number of hedge funds and other institutional investors have recently bought and sold shares of V. Riverstone Advisors LLC acquired a new stake in shares of Visa in the 4th quarter worth about $217,000. Blue Rock Wealth Management LLC purchased a new stake in shares of Visa in the fourth quarter worth approximately $306,000. Journey Strategic Wealth LLC lifted its holdings in shares of Visa by 16.4% in the fourth quarter. Journey Strategic Wealth LLC now owns 9,678 shares of the credit-card processor’s stock valued at $3,058,000 after purchasing an additional 1,361 shares in the last quarter. King Wealth Management Group boosted its position in shares of Visa by 9.0% during the fourth quarter. King Wealth Management Group now owns 74,874 shares of the credit-card processor’s stock valued at $23,663,000 after buying an additional 6,172 shares during the last quarter. Finally, Eagle Strategies LLC raised its position in Visa by 2.5% in the 4th quarter. Eagle Strategies LLC now owns 2,568 shares of the credit-card processor’s stock valued at $811,000 after buying an additional 63 shares during the last quarter. 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.