Visa (NYSE:V) Given New $321.00 Price Target at Citigroup

Visa (NYSE:V) had its target price lifted by Citigroup from $314.00 to $321.00 in a report issued on Wednesday morning, Benzinga reports. They currently have a buy rating on the credit-card processor’s stock.

V has been the topic of several other reports. Raymond James boosted their price target on shares of Visa from $287.00 to $311.00 and gave the stock an outperform rating in a research report on Friday, January 26th. Wells Fargo & Company boosted their price objective on shares of Visa from $300.00 to $325.00 and gave the stock an overweight rating in a research note on Wednesday, March 6th. Wedbush boosted their price objective on shares of Visa from $280.00 to $300.00 and gave the stock an outperform rating in a research note on Wednesday. UBS Group boosted their price objective on shares of Visa from $305.00 to $315.00 and gave the stock a buy rating in a research note on Friday, January 26th. Finally, Keefe, Bruyette & Woods boosted their price objective on shares of Visa from $305.00 to $315.00 and gave the stock an outperform rating in a research note on Friday, January 26th. Five investment analysts have rated the stock with a hold rating and twenty have assigned a buy rating to the company. Based on data from MarketBeat.com, Visa currently has a consensus rating of Moderate Buy and an average price target of $302.58.

Visa Trading Down 0.2 %

Shares of NYSE:V opened at $274.52 on Wednesday. The company’s 50-day moving average price is $279.24 and its two-hundred day moving average price is $264.52. The company has a debt-to-equity ratio of 0.53, a current ratio of 1.40 and a quick ratio of 1.45. Visa has a one year low of $216.14 and a one year high of $290.96. The stock has a market capitalization of $504.16 billion, a PE ratio of 30.67, a price-to-earnings-growth ratio of 1.89 and a beta of 0.96.

Visa (NYSE:V) last issued its quarterly earnings results on Tuesday, April 23rd. The credit-card processor reported $2.51 EPS for the quarter, topping the consensus estimate of $2.43 by $0.08. Visa had a net margin of 53.87% and a return on equity of 51.23%. The firm had revenue of $8.78 billion for the quarter, compared to analysts’ expectations of $8.62 billion. During the same period in the previous year, the firm posted $2.09 EPS. The company’s revenue for the quarter was up 9.9% on a year-over-year basis. On average, equities analysts forecast that Visa will post 9.89 EPS for the current fiscal year.

Visa Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, June 3rd. Shareholders of record on Friday, May 17th will be paid a dividend of $0.52 per share. The ex-dividend date of this dividend is Thursday, May 16th. This represents a $2.08 dividend on an annualized basis and a yield of 0.76%. Visa’s dividend payout ratio (DPR) is presently 23.24%.

Insiders Place Their Bets

In other Visa news, Director Lloyd Carney sold 909 shares of the firm’s stock in a transaction on Friday, April 26th. The stock was sold at an average price of $275.55, for a total transaction of $250,474.95. Following the transaction, the director now owns 2,591 shares in the company, valued at approximately $713,950.05. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. In other Visa news, Director Lloyd Carney sold 909 shares of the firm’s stock in a transaction on Friday, April 26th. The stock was sold at an average price of $275.55, for a total transaction of $250,474.95. Following the transaction, the director now owns 2,591 shares in the company, valued at approximately $713,950.05. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, CEO Ryan Mcinerney sold 8,200 shares of the firm’s stock in a transaction on Monday, April 1st. The stock was sold at an average price of $280.36, for a total value of $2,298,952.00. Following the transaction, the chief executive officer now owns 538 shares in the company, valued at approximately $150,833.68. The disclosure for this sale can be found here. Insiders have sold a total of 19,874 shares of company stock worth $5,506,827 in the last 90 days. Company insiders own 0.19% of the company’s stock.

Hedge Funds Weigh In On Visa

Hedge funds and other institutional investors have recently modified their holdings of the business. Altshuler Shaham Ltd bought a new position in shares of Visa in the 3rd quarter valued at $25,000. Livelsberger Financial Advisory bought a new position in shares of Visa in the 4th quarter valued at $25,000. Westend Capital Management LLC bought a new position in shares of Visa in the 1st quarter valued at $25,000. O Brien Wealth Partners LLC bought a new position in shares of Visa in the 4th quarter valued at $32,000. Finally, Nalls Sherbakoff Group LLC increased its stake in shares of Visa by 545.5% in the 3rd quarter. Nalls Sherbakoff Group LLC now owns 142 shares of the credit-card processor’s stock valued at $33,000 after purchasing an additional 120 shares during the last quarter. Institutional investors own 82.15% of the company’s stock.

About Visa

Visa Inc operates as a payment technology company in the United States and internationally. The company operates VisaNet, a transaction processing network that enables authorization, clearing, and settlement of payment transactions. It also offers credit, debit, and prepaid card products; tap to pay, tokenization, and click to pay services; Visa Direct, a solution that facilitates the delivery of funds to eligible cards, deposit accounts, and digital wallets; Visa B2B Connect, a multilateral business-to-business cross-border payments network; Visa Cross-Border Solution, a cross-border consumer payments solution; and Visa DPS that provides a range of value-added services, including fraud mitigation, dispute management, data analytics, campaign management, a suite of digital solutions, and contact center services.