Visa (NYSE:V) Trading 0.6% Higher Following Analyst Upgrade

Visa Inc. (NYSE:V) shares were up 0.6% during mid-day trading on Wednesday after Susquehanna raised their price target on the stock from $339.00 to $375.00. Susquehanna currently has a positive rating on the stock. Visa traded as high as $315.55 and last traded at $314.41. Approximately 1,214,816 shares changed hands during mid-day trading, a decline of 82% from the average daily volume of 6,895,596 shares. The stock had previously closed at $312.38.

Several other research analysts have also issued reports on V. Piper Sandler lifted their price target on shares of Visa from $319.00 to $322.00 and gave the stock an “overweight” rating in a research report on Wednesday, October 30th. Deutsche Bank Aktiengesellschaft lifted their target price on Visa from $300.00 to $340.00 and gave the stock a “buy” rating in a report on Wednesday, October 30th. TD Cowen boosted their target price on Visa from $318.00 to $325.00 and gave the stock a “buy” rating in a research report on Wednesday, October 30th. Royal Bank of Canada lifted their price target on Visa from $311.00 to $322.00 and gave the stock an “outperform” rating in a research note on Wednesday, October 30th. Finally, Oppenheimer restated an “outperform” rating and set a $321.00 price objective (up previously from $318.00) on shares of Visa in a report on Wednesday, October 30th. Four equities research analysts have rated the stock with a hold rating, twenty-five have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $324.74.

Insider Activity

In other Visa news, insider Paul D. Fabara sold 2,171 shares of the stock in a transaction on Friday, November 22nd. The shares were sold at an average price of $307.97, for a total transaction of $668,602.87. Following the transaction, the insider now directly owns 17,894 shares of the company’s stock, valued at $5,510,815.18. This represents a 10.82 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. 0.19% of the stock is owned by corporate insiders.

Institutional Trading of Visa

Several large investors have recently made changes to their positions in the stock. Unionview LLC raised its holdings in shares of Visa by 1.5% in the 3rd quarter. Unionview LLC now owns 2,296 shares of the credit-card processor’s stock worth $631,000 after acquiring an additional 33 shares during the last quarter. St. Louis Trust Co lifted its position in shares of Visa by 0.9% during the 3rd quarter. St. Louis Trust Co now owns 3,885 shares of the credit-card processor’s stock worth $1,068,000 after buying an additional 34 shares in the last quarter. FWG Holdings LLC boosted its stake in shares of Visa by 1.1% in the 3rd quarter. FWG Holdings LLC now owns 3,168 shares of the credit-card processor’s stock worth $900,000 after buying an additional 34 shares during the last quarter. Menard Financial Group LLC grew its holdings in shares of Visa by 0.6% in the third quarter. Menard Financial Group LLC now owns 6,217 shares of the credit-card processor’s stock valued at $1,709,000 after acquiring an additional 35 shares in the last quarter. Finally, KMG Fiduciary Partners LLC increased its position in shares of Visa by 0.3% during the third quarter. KMG Fiduciary Partners LLC now owns 13,933 shares of the credit-card processor’s stock valued at $3,831,000 after acquiring an additional 37 shares during the last quarter. Institutional investors own 82.15% of the company’s stock.

Visa Stock Up 0.1 %

The stock has a fifty day moving average of $297.82 and a 200 day moving average of $280.48. The company has a debt-to-equity ratio of 0.55, a current ratio of 1.28 and a quick ratio of 1.28. The firm has a market capitalization of $585.37 billion, a P/E ratio of 32.29, a price-to-earnings-growth ratio of 2.07 and a beta of 0.96.

Visa (NYSE:V) last released its earnings results on Tuesday, October 29th. The credit-card processor reported $2.71 EPS for the quarter, topping analysts’ consensus estimates of $2.58 by $0.13. The company had revenue of $9.62 billion for the quarter, compared to analysts’ expectations of $9.49 billion. Visa had a return on equity of 53.16% and a net margin of 54.96%. The business’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 business posted $2.33 EPS. On average, research analysts anticipate that Visa Inc. will post 11.19 EPS for the current fiscal year.

Visa Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, December 2nd. Stockholders of record on Tuesday, November 12th were given a dividend of $0.59 per share. This is an increase from Visa’s previous quarterly dividend of $0.52. This represents a $2.36 dividend on an annualized basis and a dividend yield of 0.75%. The ex-dividend date was Tuesday, November 12th. Visa’s dividend payout ratio is currently 24.25%.

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.