Visa (NYSE:V) Upgraded at Clear Str

Clear Str upgraded shares of Visa (NYSE:VFree Report) to a strong-buy rating in a research report report published on Thursday,Zacks.com reports.

A number of other brokerages have also issued reports on V. Loop Capital began coverage on Visa in a research note on Tuesday, March 31st. They issued a “buy” rating and a $387.00 price target on the stock. Robert W. Baird set a $412.00 price objective on shares of Visa and gave the company an “outperform” rating in a research note on Monday, July 6th. Weiss Ratings upgraded shares of Visa from a “hold (c+)” rating to a “buy (b-)” rating in a report on Monday, July 6th. BMO Capital Markets reissued an “outperform” rating and issued a $387.00 target price (up from $375.00) on shares of Visa in a research report on Wednesday. Finally, Piper Sandler started coverage on shares of Visa in a report on Monday, June 29th. They issued an “overweight” rating and a $394.00 target price for the company. Seven equities research analysts have rated the stock with a Strong Buy rating, eighteen have given a Buy rating and one has assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Buy” and a consensus price target of $398.36.

View Our Latest Stock Report on Visa

Visa Trading Down 1.8%

Shares of Visa stock opened at $358.51 on Thursday. Visa has a fifty-two week low of $293.89 and a fifty-two week high of $365.14. The firm has a market cap of $643.08 billion, a PE ratio of 31.23, a P/E/G ratio of 1.91 and a beta of 0.75. The business’s fifty day moving average is $334.41 and its two-hundred day moving average is $325.20. The company has a quick ratio of 1.09, a current ratio of 1.09 and a debt-to-equity ratio of 0.64.

Visa (NYSE:VGet Free Report) last posted its quarterly earnings data on Tuesday, April 28th. The credit-card processor reported $3.31 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.10 by $0.21. The business had revenue of $11.23 billion for the quarter, compared to analysts’ expectations of $10.75 billion. Visa had a return on equity of 65.00% and a net margin of 51.68%.The business’s revenue was up 17.1% on a year-over-year basis. During the same quarter last year, the firm earned $2.76 earnings per share. Analysts anticipate that Visa will post 13.11 earnings per share for the current year.

Visa Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, June 1st. Stockholders of record on Tuesday, May 12th were issued a $0.67 dividend. This represents a $2.68 dividend on an annualized basis and a dividend yield of 0.7%. The ex-dividend date was Tuesday, May 12th. Visa’s dividend payout ratio (DPR) is 23.34%.

Visa declared that its board has approved a share repurchase program on Tuesday, April 28th that permits the company to repurchase $20.00 billion in outstanding shares. This repurchase authorization permits the credit-card processor to repurchase up to 3.6% of its stock through open market purchases. Stock repurchase programs are generally an indication that the company’s board of directors believes its stock is undervalued.

Insider Activity

In other Visa news, CFO Chris Suh sold 10,639 shares of Visa stock in a transaction that occurred on Tuesday, May 12th. The shares were sold at an average price of $324.81, for a total transaction of $3,455,653.59. Following the transaction, the chief financial officer directly owned 9,872 shares of the company’s stock, valued at $3,206,524.32. The trade was a 51.87% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, CEO Ryan Mcinerney sold 31,455 shares of the business’s stock in a transaction that occurred on Wednesday, April 29th. The stock was sold at an average price of $340.14, for a total transaction of $10,699,103.70. Following the sale, the chief executive officer owned 15,174 shares of the company’s stock, valued at approximately $5,161,284.36. This represents a 67.46% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold 75,581 shares of company stock valued at $25,627,975 in the last three months. Corporate insiders own 0.12% of the company’s stock.

Hedge Funds Weigh In On Visa

A number of hedge funds have recently made changes to their positions in V. Ballast Inc. lifted its holdings in shares of Visa by 35.2% during the 2nd quarter. Ballast Inc. now owns 6,234 shares of the credit-card processor’s stock valued at $2,139,000 after acquiring an additional 1,623 shares in the last quarter. Regent Peak Wealth Advisors LLC increased its holdings in Visa by 2.4% in the 2nd quarter. Regent Peak Wealth Advisors LLC now owns 5,336 shares of the credit-card processor’s stock valued at $1,831,000 after purchasing an additional 123 shares in the last quarter. Hyperion Asset Management Ltd raised its position in Visa by 19.9% in the second quarter. Hyperion Asset Management Ltd now owns 257,309 shares of the credit-card processor’s stock valued at $88,280,000 after purchasing an additional 42,660 shares during the period. Northside Capital Management LLC raised its position in Visa by 9.5% in the second quarter. Northside Capital Management LLC now owns 53,200 shares of the credit-card processor’s stock valued at $18,253,000 after purchasing an additional 4,613 shares during the period. Finally, Investors Research Corp lifted its stake in shares of Visa by 301.8% during the second quarter. Investors Research Corp now owns 1,595 shares of the credit-card processor’s stock worth $547,000 after purchasing an additional 1,198 shares in the last quarter. Hedge funds and other institutional investors own 82.15% of the company’s stock.

More Visa News

Here are the key news stories impacting Visa this week:

Visa Company Profile

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Visa Inc is a global payments technology company that facilitates electronic funds transfers and digital commerce by connecting consumers, merchants, financial institutions and governments. The firm operates one of the world’s largest payment networks, providing processing, authorization, clearing and settlement services for credit, debit and prepaid card transactions. Visa’s network-based model enables partner banks and other issuers to offer branded payment products while Visa focuses on the infrastructure, standards and technologies that move money securely and efficiently around the world.

Visa’s product and service portfolio includes card-based payment products for consumers and businesses, real-time push-payment capabilities, tokenization and authentication services, fraud and risk-management tools, data analytics and APIs for fintech and merchant integration.

Further Reading

Analyst Recommendations for Visa (NYSE:V)

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