BMO Capital Markets Raises Visa (NYSE:V) Price Target to $310.00

Visa (NYSE:V) had its price objective upped by BMO Capital Markets from $300.00 to $310.00 in a research note released on Thursday morning, Benzinga reports. The brokerage currently has an outperform rating on the credit-card processor’s stock.

Several other brokerages have also weighed in on V. Oppenheimer initiated coverage on shares of Visa in a research note on Tuesday, October 1st. They set an outperform rating and a $318.00 target price for the company. Keefe, Bruyette & Woods raised shares of Visa from a moderate buy rating to a strong-buy rating in a research report on Tuesday, September 24th. Piper Sandler cut their target price on Visa from $322.00 to $319.00 and set an overweight rating on the stock in a research report on Wednesday, July 24th. William Blair upgraded Visa to a strong-buy rating in a research note on Tuesday, July 23rd. Finally, Jefferies Financial Group dropped their price objective on Visa from $325.00 to $300.00 and set a buy rating for the company in a research note on Wednesday, July 24th. Six investment analysts have rated the stock with a hold rating, twenty-three have assigned a buy rating and two have assigned a strong buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of Moderate Buy and a consensus price target of $312.04.

Visa Trading Up 0.4 %

V opened at $277.93 on Thursday. The stock has a market capitalization of $508.32 billion, a PE ratio of 31.05, a P/E/G ratio of 1.92 and a beta of 0.96. Visa has a one year low of $228.03 and a one year high of $293.07. The company has a debt-to-equity ratio of 0.54, a quick ratio of 1.37 and a current ratio of 1.37. The business’s 50 day moving average price is $273.00 and its 200 day moving average price is $272.97.

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

Visa Announces Dividend

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

Insiders Place Their Bets

In related news, CEO Ryan Mcinerney sold 8,620 shares of the business’s stock in a transaction on Tuesday, September 3rd. The shares were sold at an average price of $276.37, for a total value of $2,382,309.40. Following the completion of the sale, the chief executive officer now directly owns 538 shares of the company’s stock, valued at $148,687.06. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.19% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in the company. Vanguard Group Inc. raised its holdings in shares of Visa by 0.6% in the first quarter. Vanguard Group Inc. now owns 142,202,830 shares of the credit-card processor’s stock valued at $39,685,966,000 after buying an additional 788,908 shares during the last quarter. Capital International Investors raised its stake in Visa by 2.7% during the 1st quarter. Capital International Investors now owns 23,570,391 shares of the credit-card processor’s stock valued at $6,578,025,000 after acquiring an additional 626,618 shares during the last quarter. Capital World Investors lifted its position in Visa by 5.4% during the 1st quarter. Capital World Investors now owns 18,863,796 shares of the credit-card processor’s stock worth $5,264,508,000 after acquiring an additional 968,008 shares during the period. Ameriprise Financial Inc. grew its stake in shares of Visa by 2.4% in the 2nd quarter. Ameriprise Financial Inc. now owns 14,610,590 shares of the credit-card processor’s stock valued at $3,833,981,000 after purchasing an additional 345,829 shares during the last quarter. Finally, Legal & General Group Plc increased its holdings in shares of Visa by 2.2% in the second quarter. Legal & General Group Plc now owns 14,416,394 shares of the credit-card processor’s stock valued at $3,783,857,000 after purchasing an additional 312,286 shares during the period. Institutional investors and hedge funds 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.