Visa (NYSE:V) Shares Up 0.1% on Analyst Upgrade

Visa Inc. (NYSE:V) rose 0.1% during trading on Wednesday after JPMorgan Chase & Co. raised their price target on the stock from $290.00 to $320.00. JPMorgan Chase & Co. currently has an overweight rating on the stock. Visa traded as high as $269.27 and last traded at $268.43. Approximately 594,427 shares changed hands during mid-day trading, a decline of 92% from the average daily volume of 7,179,250 shares. The stock had previously closed at $268.04.

Several other equities analysts have also recently weighed in on V. William Blair upgraded Visa to a “strong-buy” rating in a report on Tuesday, July 23rd. Morgan Stanley reduced their price target on shares of Visa from $326.00 to $322.00 and set an “overweight” rating on the stock in a research report on Wednesday, July 24th. Jefferies Financial Group lowered their price objective on shares of Visa from $325.00 to $300.00 and set a “buy” rating for the company in a research report on Wednesday, July 24th. Piper Sandler dropped their price objective on shares of Visa from $322.00 to $319.00 and set an “overweight” rating for the company in a research note on Wednesday, July 24th. Finally, Wedbush upped their target price on shares of Visa from $280.00 to $300.00 and gave the company an “outperform” rating in a research report on Wednesday, April 24th. Six analysts have rated the stock with a hold rating, twenty-one have given a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $308.50.

Hedge Funds Weigh In On Visa

A number of hedge funds and other institutional investors have recently modified their holdings of the business. Nadler Financial Group Inc. raised its holdings in Visa by 2.4% in the fourth quarter. Nadler Financial Group Inc. now owns 1,900 shares of the credit-card processor’s stock worth $495,000 after purchasing an additional 44 shares in the last quarter. Hilltop National Bank purchased a new stake in Visa during the first quarter valued at approximately $1,212,000. TCI Wealth Advisors Inc. boosted its stake in Visa by 0.8% in the fourth quarter. TCI Wealth Advisors Inc. now owns 5,107 shares of the credit-card processor’s stock valued at $1,330,000 after acquiring an additional 40 shares in the last quarter. Absolute Capital Management LLC acquired a new stake in Visa in the first quarter valued at approximately $404,000. Finally, SageView Advisory Group LLC grew its holdings in Visa by 40.4% in the fourth quarter. SageView Advisory Group LLC now owns 25,137 shares of the credit-card processor’s stock worth $6,967,000 after purchasing an additional 7,236 shares during the last quarter. 82.15% of the stock is currently owned by institutional investors.

Visa Stock Performance

The business has a 50-day moving average price of $265.99 and a 200-day moving average price of $273.36. The company has a quick ratio of 1.37, a current ratio of 1.37 and a debt-to-equity ratio of 0.54. The firm has a market capitalization of $490.05 billion, a price-to-earnings ratio of 29.94, a P/E/G ratio of 1.89 and a beta of 0.95.

Visa (NYSE:V) last posted its quarterly earnings data on Tuesday, July 23rd. The credit-card processor reported $2.42 earnings per share (EPS) for the quarter, meeting the consensus estimate of $2.42. The firm had revenue of $8.90 billion for the quarter, compared to the consensus estimate of $8.92 billion. Visa had a net margin of 54.72% and a return on equity of 51.94%. The company’s revenue for the quarter was up 9.6% compared to the same quarter last year. During the same quarter in the prior year, the company posted $2.16 earnings per share. As a group, sell-side analysts forecast that Visa Inc. will post 9.91 earnings per share for the current year.

Visa Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 3rd. Stockholders of record on Friday, August 9th will be issued a $0.52 dividend. This represents a $2.08 dividend on an annualized basis and a dividend yield of 0.78%. The ex-dividend date of this dividend is Friday, August 9th. Visa’s dividend payout ratio is presently 23.24%.

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.