Piper Sandler Initiates Coverage on Visa (NYSE:V)

Piper Sandler assumed coverage on shares of Visa (NYSE:V) in a research note issued to investors on Monday morning, Benzinga reports. The brokerage issued an overweight rating and a $322.00 target price on the credit-card processor’s stock.

Several other research firms have also recently weighed in on V. Macquarie increased their price target on Visa from $290.00 to $300.00 and gave the company an outperform rating in a report on Wednesday, April 24th. TD Cowen started coverage on Visa in a research report on Thursday, April 11th. They issued a buy rating and a $320.00 target price on the stock. Royal Bank of Canada upped their price target on shares of Visa from $309.00 to $315.00 and gave the company an outperform rating in a research report on Wednesday, April 24th. Redburn Atlantic reissued a neutral rating and issued a $307.00 price objective on shares of Visa in a report on Wednesday, March 27th. Finally, Wedbush increased their price target on shares of Visa from $280.00 to $300.00 and gave the stock an outperform rating in a research report on Wednesday, April 24th. Five investment analysts have rated the stock with a hold rating and twenty-one have assigned a buy rating to the company. According to MarketBeat, Visa currently has an average rating of Moderate Buy and a consensus price target of $303.76.

Visa Stock Down 0.4 %

NYSE:V opened at $279.84 on Monday. The firm has a market cap of $511.81 billion, a P/E ratio of 31.27, a P/E/G ratio of 1.93 and a beta of 0.95. The company has a debt-to-equity ratio of 0.53, a quick ratio of 1.40 and a current ratio of 1.40. The firm has a 50-day simple moving average of $277.51 and a two-hundred day simple moving average of $268.17. Visa has a fifty-two week low of $216.14 and a fifty-two week high of $290.96.

Visa (NYSE:V) last issued its earnings results on Tuesday, April 23rd. The credit-card processor reported $2.51 EPS for the quarter, beating the consensus estimate of $2.43 by $0.08. The business had revenue of $8.78 billion for the quarter, compared to the consensus estimate of $8.62 billion. Visa had a return on equity of 51.23% and a net margin of 53.87%. The company’s revenue was up 9.9% compared to the same quarter last year. During the same period last year, the business posted $2.09 EPS. Analysts predict that Visa will post 9.94 earnings per share for the current fiscal year.

Visa Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, June 3rd. Shareholders of record on Friday, May 17th will be issued a $0.52 dividend. 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 0.74%. Visa’s dividend payout ratio is currently 23.24%.

Insider Buying and Selling at Visa

In other Visa news, insider Paul D. Fabara sold 25,293 shares of Visa stock in a transaction that occurred on Wednesday, May 15th. The stock was sold at an average price of $277.15, for a total value of $7,009,954.95. Following the sale, the insider now owns 17,894 shares of the company’s stock, valued at approximately $4,959,322.10. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. In related news, CEO Ryan Mcinerney sold 8,200 shares of Visa stock in a transaction dated 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 completion of the transaction, the chief executive officer now owns 538 shares in the company, valued at $150,833.68. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Paul D. Fabara sold 25,293 shares of the company’s stock in a transaction that occurred on Wednesday, May 15th. The shares were sold at an average price of $277.15, for a total value of $7,009,954.95. Following the sale, the insider now owns 17,894 shares in the company, valued at $4,959,322.10. The disclosure for this sale can be found here. Insiders sold 34,402 shares of company stock valued at $9,559,382 in the last 90 days. Insiders own 0.19% of the company’s stock.

Hedge Funds Weigh In On Visa

A number of institutional investors and hedge funds have recently modified their holdings of the stock. Altshuler Shaham Ltd bought a new stake in shares of Visa in the 3rd quarter worth about $25,000. Livelsberger Financial Advisory bought a new stake in Visa in the fourth quarter worth about $25,000. Westend Capital Management LLC purchased a new position in shares of Visa during the first quarter valued at approximately $25,000. O Brien Wealth Partners LLC bought a new position in shares of Visa during the fourth quarter valued at approximately $32,000. Finally, Frank Rimerman Advisors LLC purchased a new stake in shares of Visa in the fourth quarter worth approximately $33,000. Hedge funds and other institutional investors own 82.15% of the company’s stock.

Visa Company Profile

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.