Macquarie Forecasts Strong Price Appreciation for Visa (NYSE:V) Stock

Visa (NYSE:V) had its target price upped by Macquarie from $300.00 to $335.00 in a research note issued to investors on Wednesday morning, Benzinga reports. The brokerage currently has an outperform rating on the credit-card processor’s stock.

Other research analysts have also recently issued research reports about the company. Oppenheimer restated an “outperform” rating and issued a $321.00 price target (up previously from $318.00) on shares of Visa in a research note on Wednesday. TD Cowen upped their target price on shares of Visa from $318.00 to $325.00 and gave the company a “buy” rating in a research note on Wednesday. Robert W. Baird raised their price target on shares of Visa from $330.00 to $340.00 and gave the company an “outperform” rating in a report on Wednesday. Susquehanna boosted their price objective on shares of Visa from $326.00 to $339.00 and gave the company a “positive” rating in a report on Wednesday. Finally, BNP Paribas upgraded shares of Visa from a “neutral” rating to an “outperform” rating and set a $325.00 target price on the stock in a report on Tuesday, September 3rd. Four investment analysts have rated the stock with a hold rating, twenty-four have given a buy rating and two have issued a strong buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $320.70.

Visa Stock Performance

Shares of Visa stock opened at $290.74 on Wednesday. The stock has a market cap of $529.82 billion, a price-to-earnings ratio of 29.88, a PEG ratio of 1.94 and a beta of 0.95. The company has a debt-to-equity ratio of 0.55, a current ratio of 1.28 and a quick ratio of 1.37. Visa has a 1 year low of $239.20 and a 1 year high of $296.34. The firm’s 50-day moving average is $281.00 and its 200 day moving average is $273.63.

Visa (NYSE:V) last posted its quarterly earnings results on Tuesday, October 29th. The credit-card processor reported $2.71 EPS for the quarter, beating analysts’ consensus estimates of $2.58 by $0.13. Visa had a net margin of 54.96% and a return on equity of 53.16%. The firm had revenue of $9.62 billion for the quarter, compared to analysts’ expectations of $9.49 billion. During the same quarter in the prior year, the company posted $2.33 earnings per share. The business’s revenue for the quarter was up 11.7% on a year-over-year basis. Sell-side analysts anticipate that Visa will post 11.17 EPS for the current fiscal year.

Visa Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, December 2nd. Stockholders of record on Tuesday, November 12th will be given a $0.59 dividend. This represents a $2.36 annualized dividend and a dividend yield of 0.81%. This is an increase from Visa’s previous quarterly dividend of $0.52. The ex-dividend date of this dividend is Tuesday, November 12th. Visa’s payout ratio is presently 21.38%.

Insider Buying and Selling

In related news, CEO Ryan Mcinerney sold 8,620 shares of the business’s stock in a transaction that occurred on Tuesday, September 3rd. The stock was sold at an average price of $276.37, for a total value of $2,382,309.40. Following the transaction, the chief executive officer now directly owns 538 shares of the company’s stock, valued at approximately $148,687.06. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 0.19% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Visa

Institutional investors and hedge funds have recently modified their holdings of the stock. Hilltop National Bank bought a new position in shares of Visa during the 1st quarter valued at about $1,212,000. Absolute Capital Management LLC purchased a new stake in shares of Visa in the first quarter worth about $404,000. Davidson Capital Management Inc. boosted its stake in Visa by 0.5% during the first quarter. Davidson Capital Management Inc. now owns 9,275 shares of the credit-card processor’s stock valued at $2,588,000 after buying an additional 44 shares during the last quarter. Empirical Finance LLC grew its holdings in Visa by 4.4% during the 1st quarter. Empirical Finance LLC now owns 45,724 shares of the credit-card processor’s stock valued at $12,761,000 after buying an additional 1,914 shares in the last quarter. Finally, Arjuna Capital increased its stake in Visa by 0.8% in the 2nd quarter. Arjuna Capital now owns 11,851 shares of the credit-card processor’s stock worth $3,111,000 after acquiring an additional 96 shares during the last quarter. 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.