Truist Financial Initiates Coverage on Visa (NYSE:V)

Stock analysts at Truist Financial assumed coverage on shares of Visa (NYSE:V) in a report released on Monday,Benzinga reports. The brokerage set a “buy” rating and a $400.00 price target on the credit-card processor’s stock. Truist Financial’s target price indicates a potential upside of 9.46% from the company’s current price.

V has been the topic of several other reports. BMO Capital Markets lifted their price objective on Visa from $370.00 to $380.00 and gave the stock an “outperform” rating in a report on Wednesday, April 30th. Citigroup reiterated a “neutral” rating on shares of Visa in a research report on Thursday, February 13th. Macquarie decreased their price target on Visa from $400.00 to $380.00 and set an “outperform” rating for the company in a research note on Wednesday, April 30th. William Blair restated an “outperform” rating on shares of Visa in a research report on Wednesday, April 30th. Finally, Barclays raised their price objective on shares of Visa from $361.00 to $396.00 and gave the company an “overweight” rating in a research report on Monday, February 3rd. Six research analysts have rated the stock with a hold rating, twenty-two have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, Visa presently has an average rating of “Moderate Buy” and a consensus price target of $367.48.

Visa Stock Performance

NYSE V opened at $365.43 on Monday. Visa has a twelve month low of $252.70 and a twelve month high of $369.15. The business’s 50-day moving average price is $343.40 and its 200 day moving average price is $333.88. The company has a current ratio of 1.12, a quick ratio of 1.12 and a debt-to-equity ratio of 0.45. The company has a market capitalization of $674.28 billion, a PE ratio of 36.84, a price-to-earnings-growth ratio of 2.33 and a beta of 0.96.

Visa (NYSE:V) last posted its quarterly earnings results on Tuesday, April 29th. The credit-card processor reported $2.76 EPS for the quarter, beating the consensus estimate of $2.68 by $0.08. Visa had a net margin of 54.27% and a return on equity of 54.79%. The firm had revenue of $9.59 billion for the quarter, compared to analyst estimates of $9.57 billion. During the same quarter last year, the firm posted $2.51 earnings per share. Visa’s revenue for the quarter was up 9.3% compared to the same quarter last year. On average, research analysts predict that Visa will post 11.3 earnings per share for the current year.

Insider Activity

In other Visa news, CEO Ryan Mcinerney sold 8,620 shares of the company’s stock in a transaction on Tuesday, April 1st. The shares were sold at an average price of $350.44, for a total value of $3,020,792.80. Following the transaction, the chief executive officer now directly owns 537 shares in the company, valued at $188,186.28. The trade was a 94.14% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Paul D. Fabara sold 39,350 shares of Visa stock in a transaction dated Wednesday, March 19th. The stock was sold at an average price of $340.41, for a total transaction of $13,395,133.50. Following the sale, the insider now directly owns 26,413 shares of the company’s stock, valued at $8,991,249.33. The trade was a 59.84% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 113,328 shares of company stock valued at $38,419,222. 0.13% of the stock is owned by insiders.

Hedge Funds Weigh In On Visa

A number of large investors have recently made changes to their positions in V. Norges Bank acquired a new stake in shares of Visa in the fourth quarter valued at approximately $5,171,271,000. GAMMA Investing LLC raised its holdings in Visa by 38,416.3% in the 1st quarter. GAMMA Investing LLC now owns 14,761,375 shares of the credit-card processor’s stock valued at $5,173,271,000 after acquiring an additional 14,723,050 shares in the last quarter. Nuveen LLC bought a new stake in shares of Visa during the 1st quarter valued at $3,518,533,000. Vanguard Group Inc. grew its holdings in shares of Visa by 4.6% during the 4th quarter. Vanguard Group Inc. now owns 159,405,343 shares of the credit-card processor’s stock worth $50,378,465,000 after purchasing an additional 7,079,706 shares in the last quarter. Finally, Raymond James Financial Inc. bought a new position in shares of Visa in the fourth quarter worth $1,955,403,000. Institutional investors own 82.15% of the company’s stock.

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.