Sanford C. Bernstein Issues Positive Forecast for Visa (NYSE:V) Stock Price

Visa (NYSE:V) had its price objective increased by analysts at Sanford C. Bernstein from $475.00 to $486.00 in a research note issued on Wednesday, Benzinga reports. The brokerage presently has an “outperform” rating on the credit-card processor’s stock. Sanford C. Bernstein‘s price target would suggest a potential upside of 15.00% from the company’s previous close.

A number of other research analysts have also recently commented on the company. Evercore set a $405.00 price target on Visa in a research report on Wednesday, October 28th. BNP Paribas Exane upped their price objective on shares of Visa from $420.00 to $425.00 and gave the stock an “outperform” rating in a research report on Friday, August 7th. Piper Sandler reiterated an “overweight” rating and set a $479.00 price objective (up from $430.00) on shares of Visa in a research note on Wednesday, October 28th. Clear Str raised shares of Visa to a “strong-buy” rating in a report on Thursday, July 16th. Finally, BMO Capital Markets set a $438.00 target price on shares of Visa and gave the company an “outperform” rating in a research report on Wednesday, October 28th. Two investment analysts have rated the stock with a Strong Buy rating and thirty-five have assigned a Buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Buy” and an average target price of $443.35.

Visa Price Performance

NYSE:V traded down $0.40 during trading hours on Wednesday, reaching $422.60. 2,145,234 shares of the company were exchanged, compared to its average volume of 7,506,825. The company has a market capitalization of $754.10 billion, a P/E ratio of 34.23, a P/E/G ratio of 1.80 and a beta of 0.80. Visa has a 1-year low of $293.89 and a 1-year high of $442.23. The company has a debt-to-equity ratio of 0.54, a current ratio of 0.97 and a quick ratio of 0.97. The business has a 50 day moving average of $387.55 and a 200 day moving average of $345.66.

Visa (NYSE:V) last posted its quarterly earnings data on Tuesday, October 27th. The credit-card processor reported $3.48 EPS for the quarter, topping analysts’ consensus estimates of $3.44 by $0.04. The firm had revenue of $12.14 billion for the quarter, compared to analyst estimates of $12.09 billion. Visa had a return on equity of 70.50% and a net margin of 51.20%. The company’s revenue was up 13.2% on a year-over-year basis. During the same quarter last year, the company earned $2.98 EPS. Research analysts forecast that Visa will post 15.02 EPS for the current year.

Insider Transactions at Visa

In other news, General Counsel Julie B. Rottenberg sold 2,028 shares of the firm’s stock in a transaction that occurred on Monday, August 31st. The shares were sold at an average price of $381.35, for a total value of $773,377.80. Following the sale, the general counsel directly owned 18,404 shares in the company, valued at approximately $7,018,365.40. This trade represents a 9.93% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Ryan Mcinerney sold 5,875 shares of Visa stock in a transaction that occurred on Friday, August 21st. The shares were sold at an average price of $367.87, for a total transaction of $2,161,236.25. Following the sale, the chief executive officer directly owned 15,174 shares in the company, valued at $5,582,059.38. This trade represents a 27.91% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last quarter, insiders sold 29,262 shares of company stock worth $11,195,791. Company insiders own 0.12% of the company’s stock.

Institutional Trading of Visa

A number of hedge funds have recently added to or reduced their stakes in V. XXEC Inc. boosted its holdings in shares of Visa by 153,118.8% during the 2nd quarter. XXEC Inc. now owns 186,260,448 shares of the credit-card processor’s stock valued at $63,904,097,000 after acquiring an additional 186,138,883 shares in the last quarter. State Street Corp raised its position in Visa by 0.7% in the second quarter. State Street Corp now owns 82,872,209 shares of the credit-card processor’s stock valued at $28,432,626,000 after purchasing an additional 566,194 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its position in Visa by 13.0% in the second quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 15,720,068 shares of the credit-card processor’s stock valued at $5,393,398,000 after purchasing an additional 1,808,496 shares during the last quarter. Dimensional Fund Advisors LP boosted its stake in shares of Visa by 3.7% during the first quarter. Dimensional Fund Advisors LP now owns 8,842,842 shares of the credit-card processor’s stock valued at $2,672,655,000 after purchasing an additional 316,559 shares in the last quarter. Finally, Amundi boosted its stake in shares of Visa by 16.5% during the second quarter. Amundi now owns 7,714,919 shares of the credit-card processor’s stock valued at $2,646,911,000 after purchasing an additional 1,092,315 shares in the last quarter. Institutional investors and hedge funds own 82.15% of the company’s stock.

About Visa

Visa Inc. operates a global payments network that connects consumers, merchants, financial institutions and governments. Its network supports the authorization, clearing and settlement of electronic payments, including transactions made in person and online. The company’s services include payment processing, fraud prevention, identity and risk management, and money-transfer solutions such as Visa Direct. Visa-branded credit, debit and prepaid cards are issued by participating financial institutions; Visa generally provides the network and related services rather than issuing cards or extending credit directly to consumers.