Visa (NYSE:V) Upgraded to “Strong-Buy” at Piper Sandler

Piper Sandler upgraded shares of Visa (NYSE:VFree Report) to a strong-buy rating in a report released on Monday,Zacks.com reports.

A number of other research firms also recently commented on V. Morgan Stanley reiterated an “overweight” rating and set a $415.00 price objective on shares of Visa in a research note on Wednesday, April 29th. Weiss Ratings downgraded shares of Visa from a “buy (b-)” rating to a “hold (c+)” rating in a research report on Thursday, April 16th. Loop Capital assumed coverage on shares of Visa in a research note on Tuesday, March 31st. They issued a “buy” rating and a $387.00 target price on the stock. UBS Group upped their target price on shares of Visa from $390.00 to $410.00 and gave the company a “buy” rating in a research note on Wednesday, April 29th. Finally, Cantor Fitzgerald reaffirmed an “overweight” rating and set a $400.00 price target on shares of Visa in a research report on Wednesday, April 29th. Seven equities research analysts have rated the stock with a Strong Buy rating, seventeen have given a Buy rating and two have given a Hold rating to the company. According to MarketBeat.com, the company presently has an average rating of “Buy” and a consensus target price of $397.96.

Read Our Latest Report on V

Visa Price Performance

V stock opened at $342.63 on Monday. The stock’s 50 day moving average is $324.40 and its two-hundred day moving average is $324.52. Visa has a 52-week low of $293.89 and a 52-week high of $359.66. The company has a market capitalization of $614.60 billion, a PE ratio of 29.85, a P/E/G ratio of 1.82 and a beta of 0.77. The company has a quick ratio of 1.09, a current ratio of 1.09 and a debt-to-equity ratio of 0.64.

Visa (NYSE:VGet Free Report) last released its earnings results on Tuesday, April 28th. The credit-card processor reported $3.31 EPS for the quarter, beating the consensus estimate of $3.10 by $0.21. The company had revenue of $11.23 billion during the quarter, compared to analysts’ expectations of $10.75 billion. Visa had a return on equity of 65.00% and a net margin of 51.68%.The business’s revenue was up 17.1% on a year-over-year basis. During the same period in the prior year, the business posted $2.76 EPS. Analysts predict that Visa will post 13.09 earnings per share for the current fiscal year.

Visa Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, June 1st. Stockholders of record on Tuesday, May 12th were issued a dividend of $0.67 per share. The ex-dividend date of this dividend was Tuesday, May 12th. This represents a $2.68 annualized dividend and a dividend yield of 0.8%. Visa’s dividend payout ratio is 23.34%.

Visa declared that its Board of Directors has approved a share buyback program on Tuesday, April 28th that authorizes the company to buyback $20.00 billion in shares. This buyback authorization authorizes the credit-card processor to repurchase up to 3.6% of its stock through open market purchases. Stock buyback programs are generally an indication that the company’s board of directors believes its shares are undervalued.

Insider Activity

In related news, CFO Chris Suh sold 10,639 shares of the stock in a transaction dated Tuesday, May 12th. The shares were sold at an average price of $324.81, for a total value of $3,455,653.59. Following the sale, the chief financial officer owned 9,872 shares of the company’s stock, valued at $3,206,524.32. This trade represents a 51.87% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Ryan Mcinerney sold 31,455 shares of the business’s stock in a transaction that occurred on Wednesday, April 29th. The stock was sold at an average price of $340.14, for a total value of $10,699,103.70. Following the transaction, the chief executive officer owned 15,174 shares of the company’s stock, valued at approximately $5,161,284.36. This represents a 67.46% 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. Insiders have sold 63,064 shares of company stock valued at $21,289,800 in the last 90 days. Insiders own 0.12% of the company’s stock.

Institutional Investors Weigh In On Visa

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Clayton Financial Group LLC lifted its stake in shares of Visa by 446.2% in the 4th quarter. Clayton Financial Group LLC now owns 71 shares of the credit-card processor’s stock worth $25,000 after acquiring an additional 58 shares during the period. PayPay Securities Corp increased its stake in shares of Visa by 102.7% during the fourth quarter. PayPay Securities Corp now owns 75 shares of the credit-card processor’s stock valued at $26,000 after acquiring an additional 38 shares during the period. Cresta Advisors Ltd. bought a new stake in Visa during the fourth quarter worth approximately $26,000. Parvin Asset Management LLC raised its holdings in Visa by 200.0% during the third quarter. Parvin Asset Management LLC now owns 75 shares of the credit-card processor’s stock worth $26,000 after purchasing an additional 50 shares in the last quarter. Finally, Dorato Capital Management acquired a new stake in Visa in the fourth quarter worth approximately $30,000. 82.15% of the stock is currently owned by institutional investors.

Visa News Summary

Here are the key news stories impacting Visa this week:

About Visa

(Get Free Report)

Visa Inc is a global payments technology company that facilitates electronic funds transfers and digital commerce by connecting consumers, merchants, financial institutions and governments. The firm operates one of the world’s largest payment networks, providing processing, authorization, clearing and settlement services for credit, debit and prepaid card transactions. Visa’s network-based model enables partner banks and other issuers to offer branded payment products while Visa focuses on the infrastructure, standards and technologies that move money securely and efficiently around the world.

Visa’s product and service portfolio includes card-based payment products for consumers and businesses, real-time push-payment capabilities, tokenization and authentication services, fraud and risk-management tools, data analytics and APIs for fintech and merchant integration.

Further Reading

Analyst Recommendations for Visa (NYSE:V)

Receive News & Ratings for Visa Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Visa and related companies with MarketBeat.com's FREE daily email newsletter.