Visa Inc. (V) Price Target Increased to $124.00 by Analysts at Citigroup Inc.
Visa Inc. (NYSE:V) had its price objective lifted by Citigroup Inc. from $115.00 to $124.00 in a research report released on Wednesday morning. They currently have a buy rating on the credit-card processor’s stock.
A number of other equities research analysts have also issued reports on the company. Deutsche Bank AG increased their target price on Visa from $124.00 to $150.00 and gave the company a buy rating in a research note on Monday, July 10th. Jefferies Group LLC reiterated a buy rating and issued a $104.00 target price on shares of Visa in a research note on Sunday, June 25th. UBS AG reiterated an overweight rating on shares of Visa in a research note on Thursday, August 24th. BidaskClub upgraded Visa from a buy rating to a strong-buy rating in a research note on Tuesday, July 25th. Finally, Wells Fargo & Company reiterated a market perform rating and issued a $100.00 target price (up previously from $87.50) on shares of Visa in a research note on Saturday, July 22nd. Two research analysts have rated the stock with a hold rating, thirty-one have given a buy rating and one has issued a strong buy rating to the stock. Visa currently has a consensus rating of Buy and a consensus target price of $111.50.
Shares of Visa (V) traded down 0.737% during trading on Wednesday, hitting $107.005. The stock had a trading volume of 5,979,562 shares. The company has a market cap of $244.66 billion, a P/E ratio of 39.794 and a beta of 0.93. Visa has a one year low of $75.17 and a one year high of $109.26. The stock’s 50-day moving average price is $105.55 and its 200-day moving average price is $98.05.
Visa (NYSE:V) last posted its earnings results on Thursday, July 20th. The credit-card processor reported $0.86 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.81 by $0.05. Visa had a return on equity of 30.95% and a net margin of 36.53%. The business had revenue of $4.57 billion during the quarter, compared to analyst estimates of $4.36 billion. During the same quarter last year, the firm earned $0.69 earnings per share. The company’s revenue for the quarter was up 25.8% compared to the same quarter last year. On average, equities research analysts forecast that Visa will post $3.43 EPS for the current fiscal year.
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The business also recently declared a quarterly dividend, which will be paid on Tuesday, December 5th. Investors of record on Friday, November 17th will be issued a $0.195 dividend. This is an increase from Visa’s previous quarterly dividend of $0.17. This represents a $0.78 annualized dividend and a dividend yield of 0.72%. Visa’s dividend payout ratio (DPR) is 24.54%.
In related news, Director Mary B. Cranston sold 10,400 shares of the firm’s stock in a transaction that occurred on Thursday, August 17th. The stock was sold at an average price of $103.32, for a total value of $1,074,528.00. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, EVP Tullier Kelly Mahon sold 29,772 shares of the firm’s stock in a transaction that occurred on Thursday, July 27th. The stock was sold at an average price of $100.91, for a total value of $3,004,292.52. Following the completion of the sale, the executive vice president now directly owns 17,360 shares in the company, valued at approximately $1,751,797.60. The disclosure for this sale can be found here. Company insiders own 0.14% of the company’s stock.
Hedge funds and other institutional investors have recently made changes to their positions in the stock. Vanguard Group Inc. raised its stake in Visa by 2.1% during the 2nd quarter. Vanguard Group Inc. now owns 127,020,401 shares of the credit-card processor’s stock valued at $11,911,973,000 after acquiring an additional 2,628,148 shares in the last quarter. BlackRock Inc. raised its stake in Visa by 1.3% during the 2nd quarter. BlackRock Inc. now owns 114,649,667 shares of the credit-card processor’s stock valued at $10,751,846,000 after acquiring an additional 1,440,034 shares in the last quarter. State Street Corp raised its stake in Visa by 0.9% during the 1st quarter. State Street Corp now owns 83,471,859 shares of the credit-card processor’s stock valued at $7,418,151,000 after acquiring an additional 722,878 shares in the last quarter. Bank of New York Mellon Corp raised its stake in Visa by 0.4% during the 1st quarter. Bank of New York Mellon Corp now owns 18,286,230 shares of the credit-card processor’s stock valued at $1,625,097,000 after acquiring an additional 73,926 shares in the last quarter. Finally, Fisher Asset Management LLC raised its stake in Visa by 3.0% during the 2nd quarter. Fisher Asset Management LLC now owns 15,616,151 shares of the credit-card processor’s stock valued at $1,464,483,000 after acquiring an additional 452,183 shares in the last quarter. 81.65% of the stock is currently owned by institutional investors and hedge funds.
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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