Visa Inc. (V) Hits New 12-Month High at $82.15
Shares of Visa Inc. (NYSE:V) hit a new 52-week high during mid-day trading on Friday . The stock traded as high as $82.15 and last traded at $81.83, with a volume of 3,362,457 shares changing hands. The stock had previously closed at $81.30.
A number of research firms have weighed in on V. Sanford C. Bernstein reiterated a “buy” rating on shares of Visa in a research report on Wednesday, June 15th. Argus reiterated a “buy” rating and issued a $90.00 price target (up from $85.00) on shares of Visa in a research report on Monday, July 25th. Vetr lowered shares of Visa from a “buy” rating to a “hold” rating and set a $80.66 price target for the company. in a research report on Tuesday, May 17th. Finally, Piper Jaffray Cos. reiterated an “overweight” rating and issued a $94.00 price target on shares of Visa in a research report on Friday, August 5th. Four equities research analysts have rated the stock with a hold rating and thirty have issued a buy rating to the company. The company presently has a consensus rating of “Buy” and an average target price of $88.26.
The company has a market capitalization of $193.09 billion and a PE ratio of 34.7727. The company’s 50-day moving average is $79.72 and its 200 day moving average is $77.29.
Visa (NYSE:V) last released its earnings results on Thursday, July 21st. The credit-card processor reported $0.69 earnings per share for the quarter, beating the consensus estimate of $0.66 by $0.03. The firm earned $3.63 billion during the quarter, compared to analyst estimates of $3.67 billion. On average, equities research analysts anticipate that Visa Inc. will post $2.79 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Tuesday, September 6th. Shareholders of record on Friday, August 19th will be given a $0.14 dividend. This represents a $0.56 annualized dividend and a yield of 0.69%. The ex-dividend date of this dividend is Wednesday, August 17th.
Several institutional investors recently made changes to their positions in the company. Hodges Capital Management Inc. increased its position in shares of Visa by 9.1% in the fourth quarter. Hodges Capital Management Inc. now owns 16,489 shares of the credit-card processor’s stock worth $1,279,000 after buying an additional 1,380 shares in the last quarter. Bronfman E.L. Rothschild L.P. bought a new position in shares of Visa during the fourth quarter worth approximately $1,766,000. Pittenger & Anderson Inc. increased its position in shares of Visa by 0.4% in the fourth quarter. Pittenger & Anderson Inc. now owns 107,227 shares of the credit-card processor’s stock worth $8,315,000 after buying an additional 460 shares in the last quarter. Advisors Asset Management Inc. increased its position in shares of Visa by 47.0% in the fourth quarter. Advisors Asset Management Inc. now owns 205,557 shares of the credit-card processor’s stock worth $15,941,000 after buying an additional 65,744 shares in the last quarter. Finally, Eaton Vance Management increased its position in shares of Visa by 3.3% in the fourth quarter. Eaton Vance Management now owns 4,230,833 shares of the credit-card processor’s stock worth $328,101,000 after buying an additional 136,248 shares in the last quarter.
Visa Inc is a payments technology company. The Company is engaged in operating a processing network, VisaNet, which facilitates authorization, clearing and settlement of payment transactions across the world. The Company provides its services to consumers, businesses, financial institutions and governments in more than 200 countries and territories for electronic payments.
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