Visa (NYSE:V) Earns Outperform Rating from Analysts at Oppenheimer

Oppenheimer initiated coverage on shares of Visa (NYSE:V) in a research report sent to investors on Tuesday, Marketbeat.com reports. The brokerage issued an outperform rating and a $318.00 price objective on the credit-card processor’s stock.

Several other research firms also recently issued reports on V. Piper Sandler reduced their price target on shares of Visa from $322.00 to $319.00 and set an overweight rating for the company in a research report on Wednesday, July 24th. Royal Bank of Canada cut their price target on Visa from $315.00 to $311.00 and set an outperform rating for the company in a research note on Wednesday, July 24th. The Goldman Sachs Group reiterated a buy rating and set a $317.00 price target on shares of Visa in a report on Thursday, September 12th. TD Cowen dropped their price objective on Visa from $320.00 to $318.00 and set a buy rating on the stock in a research note on Wednesday, July 24th. Finally, JPMorgan Chase & Co. upped their target price on shares of Visa from $290.00 to $320.00 and gave the stock an overweight rating in a research note on Tuesday, August 20th. Six analysts have rated the stock with a hold rating, twenty-three have given a buy rating and two have given a strong buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of Moderate Buy and an average price target of $312.04.

Visa Stock Performance

Shares of Visa stock opened at $277.89 on Tuesday. The company has a market cap of $506.40 billion, a P/E ratio of 31.05, a PEG ratio of 1.92 and a beta of 0.96. The company has a current ratio of 1.37, a quick ratio of 1.37 and a debt-to-equity ratio of 0.54. The business has a 50-day moving average price of $273.00 and a two-hundred day moving average price of $273.07. Visa has a 1-year low of $228.03 and a 1-year high of $293.07.

Visa (NYSE:V) last released its quarterly earnings data on Tuesday, July 23rd. The credit-card processor reported $2.42 earnings per share for the quarter, meeting the consensus estimate of $2.42. The company had revenue of $8.90 billion during the quarter, compared to analyst estimates 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% compared to the same quarter last year. During the same quarter in the previous year, the business posted $2.16 EPS. As a group, analysts anticipate that Visa will post 9.92 EPS for the current year.

Visa Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, September 3rd. Shareholders of record on Friday, August 9th were paid a $0.52 dividend. This represents a $2.08 annualized dividend and a yield of 0.75%. The ex-dividend date was Friday, August 9th. Visa’s dividend payout ratio is presently 23.24%.

Insider Buying and Selling

In other Visa news, CEO Ryan Mcinerney sold 8,620 shares of the firm’s stock in a transaction dated Tuesday, September 3rd. The stock was sold at an average price of $276.37, for a total transaction of $2,382,309.40. Following the sale, the chief executive officer now owns 538 shares in the company, valued at $148,687.06. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. 0.19% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Several large investors have recently made changes to their positions in V. Livelsberger Financial Advisory bought a new stake in Visa in the fourth quarter worth $25,000. Westend Capital Management LLC purchased a new position in shares of Visa in the first quarter worth about $25,000. POM Investment Strategies LLC increased its holdings in shares of Visa by 970.0% in the second quarter. POM Investment Strategies LLC now owns 107 shares of the credit-card processor’s stock worth $28,000 after buying an additional 97 shares during the period. Frank Rimerman Advisors LLC bought a new stake in shares of Visa in the 4th quarter valued at about $33,000. Finally, TruNorth Capital Management LLC boosted its holdings in Visa by 211.9% during the 2nd quarter. TruNorth Capital Management LLC now owns 131 shares of the credit-card processor’s stock valued at $34,000 after acquiring an additional 89 shares during the period. 82.15% of the stock is owned by hedge funds and other institutional investors.

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.