Oppenheimer Forecasts Strong Price Appreciation for Visa (NYSE:V) Stock

Visa (NYSE:V) had its price objective boosted by Oppenheimer from $321.00 to $375.00 in a research note published on Thursday,Benzinga reports. They currently have an outperform rating on the credit-card processor’s stock.

Other analysts have also issued research reports about the stock. BMO Capital Markets boosted their price objective on shares of Visa from $310.00 to $320.00 and gave the stock an “outperform” rating in a research report on Wednesday, October 30th. Barclays boosted their price target on shares of Visa from $319.00 to $347.00 and gave the stock an “overweight” rating in a research report on Monday, November 4th. The Goldman Sachs Group restated a “buy” rating and issued a $317.00 price objective on shares of Visa in a report on Thursday, September 12th. Royal Bank of Canada upped their target price on Visa from $311.00 to $322.00 and gave the stock an “outperform” rating in a report on Wednesday, October 30th. Finally, Keefe, Bruyette & Woods raised their price target on Visa from $335.00 to $360.00 and gave the company an “outperform” rating in a research note on Monday, December 9th. Four analysts have rated the stock with a hold rating, twenty-five have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $328.41.

Visa Stock Performance

V opened at $317.71 on Thursday. The company has a market capitalization of $591.85 billion, a price-to-earnings ratio of 32.65, a P/E/G ratio of 2.11 and a beta of 0.96. The business’s 50-day moving average price is $303.21 and its two-hundred day moving average price is $282.61. Visa has a 1 year low of $252.70 and a 1 year high of $321.61. The company has a debt-to-equity ratio of 0.55, a current ratio of 1.28 and a quick ratio of 1.28.

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

Visa Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, December 2nd. Shareholders of record on Tuesday, November 12th were given a dividend of $0.59 per share. This is a boost from Visa’s previous quarterly dividend of $0.52. The ex-dividend date of this dividend was Tuesday, November 12th. This represents a $2.36 annualized dividend and a yield of 0.74%. Visa’s dividend payout ratio (DPR) is presently 24.25%.

Insider Activity

In other Visa news, insider Paul D. Fabara sold 2,171 shares of the firm’s stock in a transaction on Friday, November 22nd. The stock was sold at an average price of $307.97, for a total transaction of $668,602.87. Following the transaction, the insider now owns 17,894 shares in the company, valued at $5,510,815.18. This trade represents a 10.82 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 0.13% of the stock is currently owned by company insiders.

Institutional Trading of Visa

A number of institutional investors have recently modified their holdings of V. Peterson Financial Group Inc. acquired a new stake in shares of Visa during the 3rd quarter worth approximately $26,000. POM Investment Strategies LLC boosted its holdings in shares of Visa by 970.0% in the 2nd quarter. POM Investment Strategies LLC now owns 107 shares of the credit-card processor’s stock valued at $28,000 after purchasing an additional 97 shares in the last quarter. Reston Wealth Management LLC bought a new position in shares of Visa in the 3rd quarter valued at $31,000. Fairway Wealth LLC acquired a new position in shares of Visa during the 2nd quarter worth $39,000. Finally, West Financial Advisors LLC lifted its position in shares of Visa by 101.4% during the 3rd quarter. West Financial Advisors LLC now owns 145 shares of the credit-card processor’s stock worth $40,000 after buying an additional 73 shares during the last quarter. 82.15% of the stock is currently owned by institutional investors.

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.