Vetr lowered shares of Visa Inc. (NYSE:V) from a hold rating to a sell rating in a research report report published on Thursday morning. They currently have $101.08 target price on the credit-card processor’s stock.
Other equities analysts have also issued reports about the company. Instinet upped their target price on Visa from $105.00 to $120.00 and gave the stock a buy rating in a research note on Friday, July 21st. Wells Fargo & Company restated a market perform rating and issued a $100.00 target price (up from $87.50) on shares of Visa in a research note on Saturday, July 22nd. Citigroup Inc. restated a buy rating and issued a $115.00 target price (up from $100.00) on shares of Visa in a research note on Monday, July 24th. Zacks Investment Research lowered Visa from a buy rating to a hold rating in a research note on Thursday, July 27th. Finally, BidaskClub lowered Visa from a strong-buy rating to a buy rating in a research note on Monday, July 31st. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating, twenty-seven have given a buy rating and two have assigned a strong buy rating to the company’s stock. The stock currently has a consensus rating of Buy and an average price target of $104.77.
Visa (NYSE V) opened at 104.43 on Thursday. The company has a market cap of $238.77 billion, a PE ratio of 38.84 and a beta of 0.94. The firm has a 50-day moving average price of $101.98 and a 200-day moving average price of $94.58. Visa has a 52-week low of $75.17 and a 52-week high of $105.44.
Visa (NYSE:V) last announced its earnings results on Thursday, July 20th. The credit-card processor reported $0.86 earnings per share for the quarter, topping analysts’ consensus estimates of $0.81 by $0.05. The business had revenue of $4.57 billion for the quarter, compared to analyst estimates of $4.36 billion. Visa had a return on equity of 30.95% and a net margin of 36.53%. The company’s quarterly revenue was up 25.8% compared to the same quarter last year. During the same period in the prior year, the company earned $0.69 EPS. On average, analysts forecast that Visa will post $3.42 EPS for the current year.
The company also recently announced a quarterly dividend, which was paid on Tuesday, September 5th. Stockholders of record on Friday, August 18th were paid a $0.165 dividend. This represents a $0.66 dividend on an annualized basis and a dividend yield of 0.63%. The ex-dividend date was Wednesday, August 16th. Visa’s payout ratio is presently 24.54%.
In related news, EVP Tullier Kelly Mahon sold 29,772 shares of the firm’s stock in a transaction that occurred on Thursday, July 27th. The stock was sold at an average price of $100.91, for a total transaction of $3,004,292.52. Following the completion of the transaction, the executive vice president now owns 17,360 shares of the company’s stock, valued at approximately $1,751,797.60. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director Mary B. Cranston sold 10,400 shares of the firm’s stock in a transaction that occurred on Thursday, August 17th. The shares were sold at an average price of $103.32, for a total value of $1,074,528.00. The disclosure for this sale can be found here. Company insiders own 0.14% of the company’s stock.
Hedge funds have recently bought and sold shares of the stock. Mercer Capital Advisers Inc. increased its position in Visa by 2.2% during the 1st quarter. Mercer Capital Advisers Inc. now owns 1,167 shares of the credit-card processor’s stock valued at $104,000 after buying an additional 25 shares in the last quarter. Motco increased its position in Visa by 25.1% during the 2nd quarter. Motco now owns 1,176 shares of the credit-card processor’s stock valued at $110,000 after buying an additional 236 shares in the last quarter. BDO Wealth Advisors LLC bought a new position in Visa during the 2nd quarter valued at approximately $115,000. Mascoma Wealth Management LLC bought a new position in Visa during the 2nd quarter valued at approximately $122,000. Finally, SpiderRock Advisors LLC increased its position in Visa by 107.1% during the 2nd quarter. SpiderRock Advisors LLC now owns 1,309 shares of the credit-card processor’s stock valued at $124,000 after buying an additional 19,709 shares in the last quarter. 81.74% of the stock is owned by institutional investors.
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.
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