Visa Inc. (V) Given “Market Perform” Rating at Wells Fargo & Company
Visa Inc. (NYSE:V)‘s stock had its “market perform” rating reissued by research analysts at Wells Fargo & Company in a report issued on Saturday. They presently have a $100.00 target price on the credit-card processor’s stock, up from their prior target price of $87.50. Wells Fargo & Company’s target price suggests a potential upside of 0.40% from the company’s current price.
Several other research analysts have also recently issued reports on the stock. Credit Suisse Group AG reaffirmed an “outperform” rating and issued a $112.00 target price (up from $105.00) on shares of Visa in a report on Saturday. Barclays PLC reaffirmed an “overweight” rating and issued a $114.00 target price (up from $111.00) on shares of Visa in a report on Saturday. Morgan Stanley reaffirmed an “overweight” rating and issued a $114.00 target price (up from $107.00) on shares of Visa in a report on Saturday. Cowen and Company reaffirmed an “outperform” rating and issued a $107.00 target price (up from $105.00) on shares of Visa in a report on Saturday. Finally, Bank of America Corporation lifted their target price on shares of Visa from $103.00 to $111.00 and gave the stock a “buy” rating in a report on Friday. Five equities research analysts have rated the stock with a hold rating, twenty-eight have issued a buy rating and one has issued a strong buy rating to the company’s stock. The company currently has an average rating of “Buy” and a consensus price target of $102.94.
Shares of Visa (NYSE:V) traded up 1.52% during midday trading on Friday, reaching $99.60. 17,400,234 shares of the company’s stock were exchanged. The firm has a 50-day moving average of $95.30 and a 200-day moving average of $90.04. The stock has a market capitalization of $229.72 billion, a P/E ratio of 49.70 and a beta of 0.93. Visa has a 12-month low of $75.17 and a 12-month high of $100.49.
Visa (NYSE:V) last issued its earnings results on Thursday, July 20th. The credit-card processor reported $0.86 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.81 by $0.05. The business had revenue of $4.57 billion during the quarter, compared to analysts’ expectations of $4.36 billion. Visa had a net margin of 36.53% and a return on equity of 31.04%. The business’s revenue for the quarter was up 25.8% compared to the same quarter last year. During the same period in the previous year, the company earned $0.69 earnings per share. Analysts anticipate that Visa will post $3.37 EPS for the current fiscal year.
Visa declared that its board has approved a stock repurchase program on Thursday, April 20th that authorizes the company to repurchase $5.00 billion in outstanding shares. This repurchase authorization authorizes the credit-card processor to buy up to 2.4% of its shares through open market purchases. Shares repurchase programs are typically a sign that the company’s board believes its shares are undervalued.
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In other news, Vice Chairman Ellen Richey sold 31,260 shares of the business’s stock in a transaction on Tuesday, April 25th. The shares were sold at an average price of $91.94, for a total value of $2,874,044.40. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. 0.14% of the stock is currently owned by insiders.
A number of large investors have recently added to or reduced their stakes in the stock. Mercer Capital Advisers Inc. increased its stake in Visa by 2.2% in the first quarter. Mercer Capital Advisers Inc. now owns 1,167 shares of the credit-card processor’s stock worth $104,000 after buying an additional 25 shares during the last quarter. Mascoma Wealth Management LLC acquired a new stake in Visa during the second quarter worth about $122,000. SpiderRock Advisors LLC increased its stake in Visa by 107.1% in the second quarter. SpiderRock Advisors LLC now owns 1,309 shares of the credit-card processor’s stock worth $124,000 after buying an additional 19,709 shares during the last quarter. Advantage Investment Management LLC increased its stake in Visa by 27.4% in the first quarter. Advantage Investment Management LLC now owns 1,462 shares of the credit-card processor’s stock worth $130,000 after buying an additional 314 shares during the last quarter. Finally, Delta Asset Management LLC TN increased its stake in Visa by 2.5% in the first quarter. Delta Asset Management LLC TN now owns 1,541 shares of the credit-card processor’s stock worth $137,000 after buying an additional 38 shares during the last quarter. 81.92% of the stock is currently owned by institutional investors.
Visa Company Profile
Visa Inc (Visa) is a payments technology company that connects consumers, merchants, financial institutions, businesses, strategic partners and government entities to electronic payments. The Company operates through payment services segment. The Company enables global commerce through the transfer of value and information among the participants.
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