Visa (NYSE:V) Price Target Cut to $322.00

Visa (NYSE:V) had its target price trimmed by Morgan Stanley from $326.00 to $322.00 in a research report sent to investors on Wednesday morning, Benzinga reports. The brokerage currently has an overweight rating on the credit-card processor’s stock.

V has been the topic of several other research reports. Mizuho increased their price objective on shares of Visa from $265.00 to $275.00 and gave the stock a neutral rating in a research note on Thursday, May 2nd. William Blair reiterated an outperform rating on shares of Visa in a research note on Wednesday, April 24th. Bank of America reiterated a neutral rating and issued a $297.00 price objective (down previously from $305.00) on shares of Visa in a research note on Wednesday, July 10th. Redburn Atlantic reiterated a neutral rating and issued a $307.00 price objective on shares of Visa in a research note on Wednesday, March 27th. Finally, Wedbush increased 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, April 24th. Six research analysts have rated the stock with a hold rating, twenty-one have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of Moderate Buy and an average price target of $307.25.

Visa Stock Performance

Shares of V stock opened at $259.46 on Wednesday. Visa has a one year low of $227.78 and a one year high of $290.96. The company’s 50-day moving average is $270.03 and its 200 day moving average is $274.30. The company has a market capitalization of $474.54 billion, a price-to-earnings ratio of 28.99, a price-to-earnings-growth ratio of 1.79 and a beta of 0.95. The company has a debt-to-equity ratio of 0.54, a quick ratio of 1.40 and a current ratio of 1.37.

Visa (NYSE:V) last announced its quarterly earnings data on Tuesday, July 23rd. The credit-card processor reported $2.42 EPS for the quarter, meeting the consensus estimate of $2.42. The company had revenue of $8.90 billion for the quarter, compared to the consensus estimate of $8.92 billion. Visa had a net margin of 54.72% and a return on equity of 51.94%. Visa’s revenue for the quarter was up 9.6% on a year-over-year basis. During the same period in the prior year, the firm posted $2.16 EPS. Sell-side analysts expect that Visa will post 9.92 EPS for the current fiscal year.

Visa Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, September 3rd. Investors of record on Friday, August 9th will be given a $0.52 dividend. This represents a $2.08 annualized dividend and a yield of 0.80%. The ex-dividend date of this dividend is Friday, August 9th. Visa’s dividend payout ratio is presently 23.24%.

Insider Buying and Selling

In related news, insider Paul D. Fabara sold 25,293 shares of the business’s stock in a transaction 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 sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 0.19% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Visa

Several large investors have recently bought and sold shares of the business. Livelsberger Financial Advisory bought a new position in Visa during the fourth quarter valued at $25,000. Westend Capital Management LLC purchased a new stake in shares of Visa during the first quarter valued at $25,000. POM Investment Strategies LLC boosted its stake in shares of Visa by 970.0% during the second quarter. POM Investment Strategies LLC now owns 107 shares of the credit-card processor’s stock valued at $28,000 after purchasing an additional 97 shares during the period. O Brien Wealth Partners LLC purchased a new stake in shares of Visa during the fourth quarter valued at $32,000. Finally, Frank Rimerman Advisors LLC purchased a new stake in shares of Visa during the fourth quarter valued at $33,000. 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.