Visa Inc. (V) Given New $111.00 Price Target at Bank of America Corporation
Visa Inc. (NYSE:V) had its target price raised by Bank of America Corporation from $103.00 to $111.00 in a research report released on Friday morning. The firm currently has a buy rating on the credit-card processor’s stock.
A number of other equities research analysts have also weighed in on V. Vetr lowered shares of Visa from a buy rating to a hold rating and set a $100.12 target price on the stock. in a research note on Monday, July 17th. Loop Capital lifted their target price on shares of Visa from $101.00 to $111.00 and gave the company a buy rating in a research note on Friday. They noted that the move was a valuation call. Sanford C. Bernstein reaffirmed an outperform rating and set a $110.00 target price on shares of Visa in a research note on Thursday, July 13th. Jefferies Group LLC set a $96.00 target price on shares of Visa and gave the company a buy rating in a research note on Saturday, March 25th. Finally, Nomura lifted their target price on shares of Visa from $105.00 to $120.00 and gave the company a buy rating in a research note on Friday. Five analysts have rated the stock with a hold rating, twenty-seven have issued a buy rating and one has given a strong buy rating to the stock. The company presently has a consensus rating of Buy and an average price target of $101.97.
Shares of Visa (NYSE:V) traded up 1.52% during trading on Friday, hitting $99.60. 17,400,234 shares of the stock traded hands. Visa has a 12 month low of $75.17 and a 12 month high of $100.49. The company has a 50 day moving average price of $95.30 and a 200 day moving average price of $90.04. The firm has a market cap of $229.72 billion, a price-to-earnings ratio of 49.70 and a beta of 0.93.
Visa (NYSE:V) last announced its earnings results on Thursday, July 20th. The credit-card processor reported $0.86 earnings per share for the quarter, beating analysts’ consensus estimates of $0.81 by $0.05. The firm had revenue of $4.57 billion for the quarter, compared to analyst estimates of $4.36 billion. Visa had a net margin of 36.53% and a return on equity of 31.04%. The company’s revenue for the quarter was up 25.8% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.69 EPS. Analysts anticipate that Visa will post $3.37 earnings per share for the current fiscal year.
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Visa announced that its Board of Directors has authorized a stock buyback plan on Thursday, April 20th that permits the company to repurchase $5.00 billion in outstanding shares. This repurchase authorization permits the credit-card processor to buy up to 2.4% of its shares through open market purchases. Shares repurchase plans are typically an indication that the company’s management believes its stock is undervalued.
The company also recently announced a quarterly dividend, which will be paid on Tuesday, September 5th. Stockholders of record on Friday, August 18th will be paid a $0.165 dividend. This represents a $0.66 annualized dividend and a dividend yield of 0.66%. The ex-dividend date is Wednesday, August 16th. Visa’s dividend payout ratio is currently 24.54%.
In other news, Vice Chairman Ellen Richey sold 31,260 shares of the company’s stock in a transaction dated 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 legal filing with the SEC, which can be accessed through this hyperlink. Corporate insiders own 0.14% of the company’s stock.
Several hedge funds and other institutional investors have recently bought and sold shares of the company. Vicus Capital boosted its position in Visa by 17.4% in the first quarter. Vicus Capital now owns 4,719 shares of the credit-card processor’s stock worth $419,000 after buying an additional 701 shares during the last quarter. Archon Partners LLC boosted its position in Visa by 0.3% in the fourth quarter. Archon Partners LLC now owns 101,560 shares of the credit-card processor’s stock worth $7,924,000 after buying an additional 260 shares during the last quarter. Temasek Holdings Private Ltd bought a new position in Visa during the fourth quarter worth approximately $118,769,000. Parallel Advisors LLC bought a new position in Visa during the fourth quarter worth approximately $3,189,000. Finally, InterOcean Capital LLC boosted its position in Visa by 5.9% in the fourth quarter. InterOcean Capital LLC now owns 2,889 shares of the credit-card processor’s stock worth $225,000 after buying an additional 162 shares during the last quarter. Hedge funds and other institutional investors own 81.92% of the company’s stock.
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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