Visa’s (V) “Buy” Rating Reiterated at Sanford C. Bernstein
Sanford C. Bernstein reissued their buy rating on shares of Visa Inc. (NYSE:V) in a research note issued to investors on Monday. They currently have a $97.00 price target on the credit-card processor’s stock.
Several other brokerages also recently issued reports on V. Deutsche Bank AG reaffirmed a buy rating and set a $87.00 price target on shares of Visa in a report on Tuesday, September 6th. Vetr cut Visa from a buy rating to a hold rating and set a $83.12 price objective on the stock. in a research report on Monday, August 15th. Jefferies Group reiterated a buy rating and set a $93.00 price objective on shares of Visa in a research report on Friday, October 21st. Wedbush reiterated a neutral rating and set a $77.00 price objective on shares of Visa in a research report on Friday, October 21st. Finally, Zacks Investment Research cut Visa from a buy rating to a hold rating in a research report on Friday, October 21st. Seven analysts have rated the stock with a hold rating and twenty-seven have assigned a buy rating to the company’s stock. The company has an average rating of Buy and an average price target of $90.84.
Shares of Visa (NYSE:V) opened at 77.32 on Monday. Visa has a 52 week low of $66.12 and a 52 week high of $83.96. The stock has a 50 day moving average of $81.36 and a 200 day moving average of $80.05. The firm has a market cap of $180.93 billion, a P/E ratio of 30.55 and a beta of 1.00.
Visa (NYSE:V) last announced its quarterly earnings results on Monday, October 24th. The credit-card processor reported $0.78 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.73 by $0.05. Visa had a return on equity of 24.31% and a net margin of 39.72%. The business earned $4.26 billion during the quarter. During the same period in the prior year, the business earned $0.62 EPS. The company’s revenue for the quarter was up 19.3% compared to the same quarter last year. Analysts anticipate that Visa will post $3.29 earnings per share for the current fiscal year.
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The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 6th. Stockholders of record on Friday, November 18th will be issued a dividend of $0.165 per share. This is an increase from Visa’s previous quarterly dividend of $0.14. The ex-dividend date is Wednesday, November 16th. This represents a $0.66 annualized dividend and a dividend yield of 0.85%. Visa’s payout ratio is currently 26.72%.
In other news, insider Charles W. Scharf sold 772,912 shares of the business’s stock in a transaction that occurred on Friday, October 28th. The stock was sold at an average price of $82.65, for a total transaction of $63,881,176.80. Following the completion of the sale, the insider now owns 852,880 shares in the company, valued at $70,490,532. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, President Ryan Mcinerney sold 18,500 shares of the business’s stock in a transaction that occurred on Tuesday, November 8th. The shares were sold at an average price of $82.92, for a total value of $1,534,020.00. Following the sale, the president now owns 12,548 shares of the company’s stock, valued at approximately $1,040,480.16. The disclosure for this sale can be found here. Insiders own 0.17% of the company’s stock.
Several large investors have recently added to or reduced their stakes in V. Emerald Acquisition Ltd. purchased a new stake in Visa during the second quarter valued at approximately $411,431,000. Bank of Montreal Can purchased a new stake in Visa during the second quarter valued at approximately $262,163,000. The Manufacturers Life Insurance Company purchased a new stake in Visa during the third quarter valued at approximately $284,902,000. Third Point LLC purchased a new stake in Visa during the third quarter valued at approximately $173,670,000. Finally, Capital International Investors increased its stake in Visa by 19.7% in the second quarter. Capital International Investors now owns 9,156,501 shares of the credit-card processor’s stock valued at $679,138,000 after buying an additional 1,504,167 shares in the last quarter. Hedge funds and other institutional investors own 79.52% of the company’s stock.
Visa Inc is a payments technology company. The Company and its subsidiaries, including Visa U.SA Inc (Visa U.SA), Visa International Service Association (Visa International), Visa Worldwide Pte. Limited, Visa Canada Corporation, Inovant LLC and CyberSource Corporation (CyberSource), operate a processing network, VisaNet, which facilitates authorization, clearing and settlement of payment transactions around the world.
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