Visa (NYSE:V) Price Target Raised to $315.00

Visa (NYSE:V) had its target price increased by Royal Bank of Canada from $309.00 to $315.00 in a report issued on Wednesday morning, Benzinga reports. Royal Bank of Canada currently has an outperform rating on the credit-card processor’s stock.

A number of other analysts have also recently commented on the stock. KeyCorp increased their price target on shares of Visa from $275.00 to $300.00 and gave the company an overweight rating in a research note on Monday, January 8th. Mizuho reissued a neutral rating and issued a $265.00 price objective on shares of Visa in a research report on Wednesday, March 27th. William Blair reissued an outperform rating on shares of Visa in a research report on Wednesday. Susquehanna increased their price objective on shares of Visa from $300.00 to $326.00 and gave the company a positive rating in a research report on Friday, January 26th. Finally, UBS Group increased their price objective on shares of Visa from $315.00 to $325.00 and gave the company a buy rating in a research report on Wednesday. Five research analysts have rated the stock with a hold rating and twenty have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of Moderate Buy and an average target price of $302.58.

Visa Stock Performance

Shares of V stock opened at $274.58 on Wednesday. The stock has a market cap of $504.27 billion, a P/E ratio of 30.68, a P/E/G ratio of 1.90 and a beta of 0.96. The company has a debt-to-equity ratio of 0.53, a current ratio of 1.40 and a quick ratio of 1.45. The company has a fifty day moving average price of $279.24 and a two-hundred day moving average price of $264.33. Visa has a one year low of $216.14 and a one year high of $290.96.

Visa (NYSE:V) last announced its quarterly earnings results on Tuesday, April 23rd. The credit-card processor reported $2.51 EPS for the quarter, beating analysts’ consensus estimates of $2.43 by $0.08. The firm had revenue of $8.78 billion during the quarter, compared to analysts’ expectations of $8.62 billion. Visa had a net margin of 53.87% and a return on equity of 51.23%. The company’s revenue for the quarter was up 9.9% compared to the same quarter last year. During the same quarter last year, the company posted $2.09 earnings per share. As a group, equities analysts predict that Visa will post 9.89 EPS for the current year.

Visa Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, June 3rd. Stockholders of record on Friday, May 17th will be paid a $0.52 dividend. The ex-dividend date is Thursday, May 16th. This represents a $2.08 dividend on an annualized basis and a dividend yield of 0.76%. Visa’s payout ratio is currently 23.24%.

Insider Activity

In other news, CEO Ryan Mcinerney sold 8,150 shares of the firm’s stock in a transaction that occurred on Thursday, February 1st. The shares were sold at an average price of $273.39, for a total value of $2,228,128.50. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. In other news, CEO Ryan Mcinerney sold 8,150 shares of the firm’s stock in a transaction that occurred on Thursday, February 1st. The shares were sold at an average price of $273.39, for a total value of $2,228,128.50. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, CAO Peter M. Andreski sold 2,615 shares of the firm’s stock in a transaction that occurred 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 owns 4,898 shares in the company, valued at $1,365,954.24. The disclosure for this sale can be found here. In the last three months, insiders have sold 19,874 shares of company stock worth $5,506,827. Corporate insiders own 0.19% of the company’s stock.

Institutional Investors Weigh In On Visa

Several hedge funds have recently added to or reduced their stakes in the business. Altshuler Shaham Ltd bought a new position in Visa during the 3rd quarter worth approximately $25,000. Livelsberger Financial Advisory bought a new position in Visa during the 4th quarter worth approximately $25,000. Westend Capital Management LLC bought a new position in Visa during the 1st quarter worth approximately $25,000. O Brien Wealth Partners LLC bought a new position in Visa during the 4th quarter worth approximately $32,000. Finally, Nalls Sherbakoff Group LLC raised its holdings in Visa by 545.5% during the 3rd quarter. Nalls Sherbakoff Group LLC now owns 142 shares of the credit-card processor’s stock worth $33,000 after purchasing an additional 120 shares during the last quarter. 82.15% of the stock is currently owned by institutional investors and hedge funds.

Visa Company Profile

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.