Visa (NYSE:V) Trading Up 1.7% on Analyst Upgrade

Visa Inc. (NYSE:V)’s share price rose 1.7% during trading on Thursday after Oppenheimer raised their price target on the stock from $321.00 to $375.00. Oppenheimer currently has an outperform rating on the stock. Visa traded as high as $316.87 and last traded at $315.01. Approximately 1,514,998 shares changed hands during mid-day trading, a decline of 78% from the average daily volume of 6,882,979 shares. The stock had previously closed at $309.78.

Several other research analysts also recently issued reports on V. Piper Sandler upped their price objective on Visa from $319.00 to $322.00 and gave the company an “overweight” rating in a research note on Wednesday, October 30th. Mizuho upped their price target on shares of Visa from $279.00 to $292.00 and gave the company a “neutral” rating in a research report on Friday, November 1st. BNP Paribas upgraded shares of Visa from a “neutral” rating to an “outperform” rating and set a $325.00 price target on the stock in a report on Tuesday, September 3rd. Compass Point began coverage on Visa in a report on Wednesday, September 4th. They issued a “buy” rating and a $319.00 price objective for the company. Finally, Royal Bank of Canada raised their target price on Visa from $311.00 to $322.00 and gave the stock an “outperform” rating in a research report on Wednesday, October 30th. Four investment analysts have rated the stock with a hold rating, twenty-five have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, Visa presently has a consensus rating of “Moderate Buy” and an average target price of $328.41.

Insider Transactions at Visa

In related news, insider Paul D. Fabara sold 2,171 shares of Visa stock in a transaction on Friday, November 22nd. The shares were sold at an average price of $307.97, for a total value of $668,602.87. Following the completion of the sale, the insider now owns 17,894 shares of the company’s stock, valued at approximately $5,510,815.18. This trade represents a 10.82 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Insiders own 0.13% of the company’s stock.

Institutional Inflows and Outflows

Large investors have recently made changes to their positions in the business. IMS Capital Management raised its stake in shares of Visa by 0.9% in the third quarter. IMS Capital Management now owns 10,962 shares of the credit-card processor’s stock worth $3,014,000 after purchasing an additional 93 shares during the last quarter. Brass Tax Wealth Management Inc. grew its holdings in Visa by 12.6% during the third quarter. Brass Tax Wealth Management Inc. now owns 2,298 shares of the credit-card processor’s stock worth $632,000 after buying an additional 257 shares in the last quarter. Legacy Wealth Management LLC MS raised its position in Visa by 2.5% in the 3rd quarter. Legacy Wealth Management LLC MS now owns 27,274 shares of the credit-card processor’s stock valued at $7,499,000 after buying an additional 655 shares during the last quarter. Alternative Investment Advisors LLC. bought a new position in Visa during the 3rd quarter valued at $224,000. Finally, Garden State Investment Advisory Services LLC boosted its holdings in Visa by 5.5% during the 3rd quarter. Garden State Investment Advisory Services LLC now owns 2,589 shares of the credit-card processor’s stock worth $714,000 after acquiring an additional 135 shares during the last quarter. 82.15% of the stock is owned by institutional investors.

Visa Stock Performance

The company’s 50 day moving average price is $303.21 and its 200-day moving average price is $282.54. The stock has a market cap of $591.85 billion, a P/E ratio of 32.65, a price-to-earnings-growth ratio of 2.11 and a beta of 0.96. The company has a debt-to-equity ratio of 0.55, a quick ratio of 1.28 and a current ratio of 1.28.

Visa (NYSE:V) last released its quarterly earnings results on Tuesday, October 29th. The credit-card processor reported $2.71 earnings per share for the quarter, topping the consensus estimate of $2.58 by $0.13. The business had revenue of $9.62 billion for the quarter, compared to analysts’ expectations of $9.49 billion. Visa had a net margin of 54.96% and a return on equity of 53.16%. The firm’s revenue for the quarter was up 11.7% compared to the same quarter last year. During the same period in the previous year, the company earned $2.33 earnings per share. Equities analysts forecast that Visa Inc. will post 11.23 EPS for the current fiscal year.

Visa Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, December 2nd. Stockholders of record on Tuesday, November 12th were issued a $0.59 dividend. The ex-dividend date of this dividend was Tuesday, November 12th. This is a positive change from Visa’s previous quarterly dividend of $0.52. This represents a $2.36 annualized dividend and a dividend yield of 0.74%. Visa’s dividend payout ratio is currently 24.25%.

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.