Visa (NYSE:V) Price Target Lowered to $318.00 at TD Cowen

Visa (NYSE:V) had its price target trimmed by TD Cowen from $320.00 to $318.00 in a report published on Wednesday, Benzinga reports. The brokerage currently has a buy rating on the credit-card processor’s stock.

V has been the topic of several other research reports. Bank of America restated a neutral rating and set a $297.00 price objective (down previously from $305.00) on shares of Visa in a report on Wednesday, July 10th. JPMorgan Chase & Co. cut their price objective on Visa from $302.00 to $300.00 and set an overweight rating on the stock in a report on Thursday, July 18th. Macquarie boosted their price objective on Visa from $290.00 to $300.00 and gave the stock an outperform rating in a report on Wednesday, April 24th. Robert W. Baird upped their target price on Visa from $314.00 to $320.00 and gave the company an outperform rating in a report on Wednesday, April 17th. Finally, UBS Group upped their target price on Visa from $315.00 to $325.00 and gave the company a buy rating in a report on Wednesday, April 24th. Six investment analysts have rated the stock with a hold rating, twenty-one have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of Moderate Buy and a consensus target price of $307.25.

Visa Price Performance

Shares of NYSE V opened at $259.46 on Wednesday. Visa has a twelve month low of $227.78 and a twelve month high of $290.96. The company has a current ratio of 1.37, a quick ratio of 1.40 and a debt-to-equity ratio of 0.54. The company has a market capitalization of $474.54 billion, a price-to-earnings ratio of 28.99, a PEG ratio of 1.79 and a beta of 0.95. The firm has a 50-day moving average of $270.03 and a two-hundred day moving average of $274.30.

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

Visa Announces Dividend

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

Insiders Place Their Bets

In other Visa news, insider Paul D. Fabara sold 25,293 shares of the firm’s 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 completion of the sale, the insider now owns 17,894 shares in the company, valued at approximately $4,959,322.10. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Company insiders own 0.19% of the company’s stock.

Hedge Funds Weigh In On Visa

Hedge funds have recently modified their holdings of the stock. Nadler Financial Group Inc. raised its holdings in shares of Visa by 2.4% in the 4th quarter. Nadler Financial Group Inc. now owns 1,900 shares of the credit-card processor’s stock worth $495,000 after buying an additional 44 shares in the last quarter. Towerpoint Wealth LLC acquired a new position in shares of Visa in the 4th quarter worth approximately $216,000. Andrew Hill Investment Advisors Inc. acquired a new position in shares of Visa in the 4th quarter worth approximately $3,427,000. Knights of Columbus Asset Advisors LLC raised its holdings in shares of Visa by 1.1% in the 4th quarter. Knights of Columbus Asset Advisors LLC now owns 75,421 shares of the credit-card processor’s stock worth $19,636,000 after buying an additional 795 shares in the last quarter. Finally, Cedrus LLC raised its holdings in shares of Visa by 10.1% in the 4th quarter. Cedrus LLC now owns 2,010 shares of the credit-card processor’s stock worth $523,000 after buying an additional 184 shares in the last quarter. 82.15% of the stock is owned by institutional investors and hedge funds.

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.