Citigroup Boosts Visa (NYSE:V) Price Target to $321.00

Visa (NYSE:V) had its price objective upped by research analysts at Citigroup from $314.00 to $321.00 in a note issued to investors on Wednesday, Benzinga reports. The brokerage currently has a “buy” rating on the credit-card processor’s stock. Citigroup’s target price indicates a potential upside of 15.93% from the company’s previous close.

Other equities research analysts have also recently issued reports about the stock. Redburn Atlantic restated a “neutral” rating and issued a $307.00 price target on shares of Visa in a report on Wednesday, March 27th. William Blair reiterated an “outperform” rating on shares of Visa in a report on Friday, January 26th. Raymond James lifted their price objective on shares of Visa from $287.00 to $311.00 and gave the company an “outperform” rating in a report on Friday, January 26th. Robert W. Baird raised their price target on shares of Visa from $314.00 to $320.00 and gave the company an “outperform” rating in a research report on Wednesday, April 17th. Finally, UBS Group raised their price target on shares of Visa from $305.00 to $315.00 and gave the company a “buy” rating in a research report on Friday, January 26th. Five research analysts have rated the stock with a hold rating and nineteen have assigned a buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $302.00.

Visa Trading Up 1.0 %

Shares of V stock traded up $2.78 during trading hours on Wednesday, hitting $276.89. 3,749,273 shares of the company’s stock traded hands, compared to its average volume of 5,848,722. The stock’s 50 day simple moving average is $279.49 and its 200 day simple moving average is $263.90. The stock has a market cap of $508.51 billion, a PE ratio of 31.84, a price-to-earnings-growth ratio of 1.88 and a beta of 0.96. Visa has a 12 month low of $216.14 and a 12 month high of $290.96. The company has a quick ratio of 1.45, a current ratio of 1.45 and a debt-to-equity ratio of 0.54.

Visa (NYSE:V) last released its quarterly earnings results on Tuesday, April 23rd. The credit-card processor reported $2.51 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.43 by $0.08. The firm had revenue of $8.78 billion during the quarter, compared to the consensus estimate of $8.62 billion. Visa had a net margin of 53.92% and a return on equity of 50.02%. The company’s revenue for the quarter was up 9.9% on a year-over-year basis. During the same quarter last year, the firm earned $2.09 earnings per share. On average, sell-side analysts anticipate that Visa will post 9.88 EPS for the current year.

Insider Transactions at Visa

In related news, CAO Peter M. Andreski sold 2,615 shares of the company’s stock in a transaction on Wednesday, February 7th. The shares were sold at an average price of $278.88, for a total transaction of $729,271.20. Following the completion of the sale, the chief accounting officer now directly owns 4,898 shares in the company, valued at approximately $1,365,954.24. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In related news, CAO Peter M. Andreski sold 2,615 shares of the company’s stock in a transaction on Wednesday, February 7th. The shares were sold at an average price of $278.88, for a total transaction of $729,271.20. Following the completion of the sale, the chief accounting officer now directly owns 4,898 shares in the company, valued at approximately $1,365,954.24. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CEO Ryan Mcinerney sold 8,200 shares of the company’s stock in a transaction on Monday, April 1st. The stock was sold at an average price of $280.36, for a total transaction of $2,298,952.00. Following the completion of the transaction, the chief executive officer now owns 538 shares of the company’s stock, valued at $150,833.68. The disclosure for this sale can be found here. In the last ninety days, insiders sold 18,965 shares of company stock worth $5,256,352. 0.19% of the stock is currently owned by insiders.

Institutional Trading of Visa

Institutional investors have recently bought and sold shares of the company. Investment Advisory Services Inc. TX ADV grew its position in 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 valued at $904,000 after purchasing an additional 78 shares during the last quarter. Towerpoint Wealth LLC purchased a new stake in shares of Visa during the 4th quarter valued at about $216,000. Andrew Hill Investment Advisors Inc. purchased a new stake in shares of Visa during the 4th quarter valued at about $3,427,000. Wayfinding Financial LLC boosted 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 valued at $406,000 after acquiring an additional 161 shares during the last quarter. Finally, Richelieu Gestion SA purchased a new stake in shares of Visa during the 4th quarter valued at about $307,000. 82.15% of the stock is owned by hedge funds and other institutional investors.

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.