Visa (NYSE:V) Price Target Raised to $325.00 at TD Cowen

Visa (NYSE:V) had its price objective upped by TD Cowen from $318.00 to $325.00 in a report published on Wednesday, Benzinga reports. The firm currently has a buy rating on the credit-card processor’s stock.

Several other equities research analysts have also recently weighed in on the stock. Deutsche Bank Aktiengesellschaft upped their price objective on shares of Visa from $300.00 to $340.00 and gave the stock a “buy” rating in a research report on Wednesday. The Goldman Sachs Group reiterated a “buy” rating and set a $317.00 price target on shares of Visa in a research report on Thursday, September 12th. BNP Paribas upgraded shares of Visa from a “neutral” rating to an “outperform” rating and set a $325.00 price objective for the company in a research report on Tuesday, September 3rd. Monness Crespi & Hardt reaffirmed a “neutral” rating on shares of Visa in a report on Tuesday, September 24th. Finally, JPMorgan Chase & Co. boosted their price target on Visa from $290.00 to $320.00 and gave the stock an “overweight” rating in a report on Tuesday, August 20th. Four analysts have rated the stock with a hold rating, twenty-four have given a buy rating and two have assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $320.70.

Visa Stock Performance

NYSE V opened at $290.74 on Wednesday. Visa has a 12-month low of $239.20 and a 12-month high of $296.34. The firm has a 50-day moving average price of $281.00 and a two-hundred day moving average price of $273.65. The company has a market capitalization of $529.82 billion, a P/E ratio of 29.88, a P/E/G ratio of 1.94 and a beta of 0.95. The company has a quick ratio of 1.37, a current ratio of 1.28 and a debt-to-equity ratio of 0.55.

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

Visa Increases Dividend

The company 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 dividend of $0.59 per share. The ex-dividend date is Tuesday, November 12th. This is a boost from Visa’s previous quarterly dividend of $0.52. This represents a $2.36 annualized dividend and a dividend yield of 0.81%. Visa’s dividend payout ratio is 21.38%.

Insider Buying and Selling

In other Visa news, CEO Ryan Mcinerney sold 8,620 shares of the 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 completion of the sale, the chief executive officer now directly owns 538 shares in the company, valued at approximately $148,687.06. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. 0.19% of the stock is owned by insiders.

Institutional Investors Weigh In On Visa

Several large investors have recently added to or reduced their stakes in the business. POM Investment Strategies LLC grew its position in shares of Visa by 970.0% during the 2nd 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. Reston Wealth Management LLC bought a new position in Visa during the third quarter worth $31,000. TruNorth Capital Management LLC grew its holdings in Visa by 211.9% in the second quarter. TruNorth Capital Management LLC now owns 131 shares of the credit-card processor’s stock worth $34,000 after purchasing an additional 89 shares during the period. Bbjs Financial Advisors LLC bought a new stake in Visa in the second quarter valued at $35,000. Finally, CarsonAllaria Wealth Management Ltd. bought a new stake in Visa in the second quarter valued at $35,000. 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.