Visa (NYSE:V) had its target price raised by stock analysts at Loop Capital to $142.00 in a research report issued on Friday, The Fly reports. The firm currently has a “buy” rating on the credit-card processor’s stock. Loop Capital’s target price points to a potential upside of 17.44% from the company’s current price.
Several other research firms have also issued reports on V. Jefferies Group reaffirmed a “buy” rating and set a $125.00 price target (up from $112.00) on shares of Visa in a research report on Tuesday, October 17th. KeyCorp upped their price target on shares of Visa from $125.00 to $140.00 and gave the stock an “overweight” rating in a research report on Friday. Cantor Fitzgerald upped their price target on shares of Visa to $141.00 and gave the stock an “overweight” rating in a research report on Friday. Nomura dropped their price target on shares of Visa from $148.00 to $146.00 and set a “buy” rating on the stock in a research report on Friday. Finally, Piper Jaffray Companies upped their price target on shares of Visa from $158.00 to $164.00 and gave the stock an “overweight” rating in a research report on Friday. Three analysts have rated the stock with a hold rating, thirty-one have issued a buy rating and one has issued a strong buy rating to the company. The stock presently has an average rating of “Buy” and a consensus price target of $131.97.
Shares of Visa (NYSE V) traded down $4.81 during mid-day trading on Friday, hitting $120.91. 13,593,802 shares of the stock were exchanged, compared to its average volume of 7,614,042. The company has a debt-to-equity ratio of 0.61, a quick ratio of 1.90 and a current ratio of 1.90. The company has a market capitalization of $274,780.00, a price-to-earnings ratio of 40.02, a PEG ratio of 1.79 and a beta of 1.03. Visa has a twelve month low of $84.88 and a twelve month high of $126.88.
Visa declared that its board has approved a stock buyback 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 purchase shares of its stock through open market purchases. Stock repurchase plans are typically an indication that the company’s board of directors believes its shares are undervalued.
In related news, SVP James H. Hoffmeister sold 2,146 shares of the company’s stock in a transaction dated Monday, November 27th. The shares were sold at an average price of $112.09, for a total value of $240,545.14. Following the transaction, the senior vice president now directly owns 687 shares in the company, valued at $77,005.83. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Robert W. Matschullat sold 6,220 shares of the company’s stock in a transaction dated Wednesday, December 13th. The shares were sold at an average price of $113.76, for a total transaction of $707,587.20. Following the completion of the transaction, the director now owns 57,368 shares in the company, valued at $6,526,183.68. The disclosure for this sale can be found here. Over the last quarter, insiders sold 58,068 shares of company stock worth $6,597,262. Corporate insiders own 0.14% of the company’s stock.
Several hedge funds have recently added to or reduced their stakes in V. Roble Belko & Company Inc grew its stake in shares of Visa by 220.8% in the fourth quarter. Roble Belko & Company Inc now owns 879 shares of the credit-card processor’s stock valued at $100,000 after acquiring an additional 605 shares in the last quarter. Welch Investments LLC acquired a new position in shares of Visa in the third quarter valued at about $101,000. Cordasco Financial Network bought a new stake in Visa during the third quarter worth about $105,000. Motco lifted its position in Visa by 25.1% during the second quarter. Motco now owns 1,176 shares of the credit-card processor’s stock worth $110,000 after purchasing an additional 236 shares during the period. Finally, Massey Quick Simon & CO. LLC bought a new stake in Visa during the third quarter worth about $110,000. Institutional investors and hedge funds own 81.66% of the company’s stock.
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.
