Visa (NYSE:V) had its price objective hoisted by research analysts at Cantor Fitzgerald to $141.00 in a research note issued on Friday, The Fly reports. The brokerage presently has an “overweight” rating on the credit-card processor’s stock. Cantor Fitzgerald’s price objective would suggest a potential upside of 16.62% from the stock’s current price.
Several other analysts have also commented on the stock. Susquehanna Bancshares increased their target price on shares of Visa from $126.00 to $148.00 in a research note on Thursday, December 28th. Zacks Investment Research lowered shares of Visa from a “buy” rating to a “hold” rating in a research note on Tuesday, October 31st. Wells Fargo & Co reissued an “outperform” rating and set a $135.00 target price (up from $127.00) on shares of Visa in a research note on Tuesday, January 9th. Jefferies Group increased their target price on shares of Visa from $125.00 to $127.00 and gave the company a “buy” rating in a research note on Monday, October 30th. Finally, Stephens reissued a “buy” rating and set a $135.00 target price on shares of Visa in a research note on Wednesday, January 10th. 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 stock. Visa has a consensus rating of “Buy” and an average target price of $131.97.
Shares of Visa (V) traded down $4.81 during trading hours on Friday, hitting $120.91. 13,940,000 shares of the stock were exchanged, compared to its average volume of 7,160,000. The firm has a market cap of $274,010.00, a price-to-earnings ratio of 40.04, a P/E/G ratio of 1.82 and a beta of 1.03. Visa has a 12 month low of $84.88 and a 12 month high of $126.88. The company has a current ratio of 1.90, a quick ratio of 1.90 and a debt-to-equity ratio of 0.61.
Visa declared that its board has authorized 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 buy shares of its stock through open market purchases. Stock repurchase plans are generally an indication that the company’s board believes its shares are undervalued.
In other Visa news, SVP James H. Hoffmeister sold 2,146 shares of the company’s stock in a transaction that occurred on 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 owns 687 shares in the company, valued at approximately $77,005.83. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, Director Robert W. Matschullat sold 6,220 shares of the stock in a transaction on Wednesday, December 13th. The stock was sold at an average price of $113.76, for a total transaction of $707,587.20. Following the transaction, the director now owns 57,368 shares in the company, valued at approximately $6,526,183.68. The disclosure for this sale can be found here. In the last quarter, insiders sold 58,068 shares of company stock worth $6,597,262. Company insiders own 0.14% of the company’s stock.
Institutional investors and hedge funds have recently made changes to their positions in the company. iAB Financial Bank grew its stake in Visa by 2.6% in the 2nd quarter. iAB Financial Bank now owns 56,963 shares of the credit-card processor’s stock valued at $5,342,000 after buying an additional 1,423 shares during the last quarter. Heritage Trust Co grew its stake in Visa by 51.4% in the 2nd quarter. Heritage Trust Co now owns 4,520 shares of the credit-card processor’s stock valued at $424,000 after buying an additional 1,535 shares during the last quarter. Aviva PLC boosted its holdings in Visa by 0.8% in the 2nd quarter. Aviva PLC now owns 1,411,845 shares of the credit-card processor’s stock valued at $132,432,000 after purchasing an additional 11,662 shares during the period. Jacobi Capital Management LLC boosted its holdings in Visa by 12.2% in the 2nd quarter. Jacobi Capital Management LLC now owns 9,376 shares of the credit-card processor’s stock valued at $892,000 after purchasing an additional 1,016 shares during the period. Finally, Fundsmith LLP boosted its holdings in Visa by 5.3% in the 2nd quarter. Fundsmith LLP now owns 5,217,623 shares of the credit-card processor’s stock valued at $489,309,000 after purchasing an additional 262,930 shares during the period. Institutional investors own 81.66% of the company’s stock.
ILLEGAL ACTIVITY NOTICE: “Visa (V) PT Raised to $141.00” was published by American Banking and Market News and is the property of of American Banking and Market News. If you are reading this piece on another publication, it was copied illegally and republished in violation of U.S. & international trademark and copyright legislation. The legal version of this piece can be viewed at https://www.americanbankingnews.com/2018/02/03/visa-v-pt-raised-to-141-00.html.
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.
