Visa (NYSE:V) Stock Price Up 0% After Analyst Upgrade

Visa Inc. (NYSE:V)’s stock price shot up 0% on Wednesday after Robert W. Baird raised their price target on the stock from $314.00 to $320.00. Robert W. Baird currently has an outperform rating on the stock. Visa traded as high as $274.13 and last traded at $271.35. 8,237,131 shares changed hands during trading, an increase of 31% from the average session volume of 6,264,667 shares. The stock had previously closed at $271.28.

Other equities research analysts have also recently issued research reports about the company. William Blair reissued an “outperform” rating on shares of Visa in a research note on Friday, January 26th. Raymond James upped their target price on Visa from $287.00 to $311.00 and gave the stock an “outperform” rating in a research report on Friday, January 26th. TD Cowen initiated coverage on Visa in a research report on Thursday, April 11th. They set a “buy” rating and a $320.00 target price for the company. Susquehanna upped their target price on Visa from $300.00 to $326.00 and gave the stock a “positive” rating in a research report on Friday, January 26th. Finally, Evercore ISI upped their target price on Visa from $325.00 to $335.00 and gave the stock an “outperform” rating in a research report on Tuesday, March 26th. Five equities research analysts have rated the stock with a hold rating and nineteen have issued a buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $298.43.

Insiders Place Their Bets

In other Visa news, CEO Ryan Mcinerney sold 8,150 shares of the stock in a transaction on Thursday, February 1st. The stock was sold at an average price of $273.39, for a total transaction of $2,228,128.50. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In other news, CEO Ryan Mcinerney sold 8,150 shares of the stock in a transaction on Thursday, February 1st. The stock was sold at an average price of $273.39, for a total transaction of $2,228,128.50. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CAO Peter M. Andreski sold 2,615 shares of the stock in a transaction on Wednesday, February 7th. The stock was sold at an average price of $278.88, for a total value of $729,271.20. Following the sale, the chief accounting officer now owns 4,898 shares in the company, valued at approximately $1,365,954.24. The disclosure for this sale can be found here. Insiders sold 18,965 shares of company stock worth $5,256,352 over the last three months. 0.19% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the stock. Investment Advisory Services Inc. TX ADV increased its holdings in shares of Visa by 2.0% during the 3rd quarter. Investment Advisory Services Inc. TX ADV now owns 3,930 shares of the credit-card processor’s stock worth $904,000 after acquiring an additional 78 shares during the last quarter. Towerpoint Wealth LLC acquired a new position in shares of Visa during the 4th quarter worth approximately $216,000. Wayfinding Financial LLC increased its holdings in shares of Visa by 10.1% during the 3rd quarter. Wayfinding Financial LLC now owns 1,757 shares of the credit-card processor’s stock worth $406,000 after acquiring an additional 161 shares during the last quarter. Richelieu Gestion SA acquired a new position in shares of Visa during the 4th quarter worth approximately $307,000. Finally, Cooper Financial Group grew its holdings in Visa by 6.4% in the 4th quarter. Cooper Financial Group now owns 7,926 shares of the credit-card processor’s stock valued at $2,064,000 after buying an additional 476 shares in the last quarter. Institutional investors and hedge funds own 82.15% of the company’s stock.

Visa Trading Down 0.5 %

The company has a debt-to-equity ratio of 0.54, a quick ratio of 1.45 and a current ratio of 1.45. The business has a fifty day simple moving average of $279.71 and a 200 day simple moving average of $262.62. The stock has a market capitalization of $498.37 billion, a price-to-earnings ratio of 31.23, a price-to-earnings-growth ratio of 1.88 and a beta of 0.96.

Visa (NYSE:V) last issued its quarterly earnings data on Thursday, January 25th. The credit-card processor reported $2.41 EPS for the quarter, beating analysts’ consensus estimates of $2.34 by $0.07. The firm had revenue of $8.63 billion for the quarter, compared to analyst estimates of $8.55 billion. Visa had a return on equity of 50.02% and a net margin of 53.92%. The company’s revenue for the quarter was up 9.3% on a year-over-year basis. During the same period in the prior year, the firm posted $2.18 EPS. As a group, research analysts expect that Visa Inc. will post 9.88 EPS for the current year.

Visa Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, March 1st. Stockholders of record on Friday, February 9th were given a dividend of $0.52 per share. The ex-dividend date was Thursday, February 8th. This represents a $2.08 dividend on an annualized basis and a dividend yield of 0.77%. Visa’s payout ratio is 23.94%.

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.