Visa (NYSE:V) Trading 1% Higher on Analyst Upgrade

Shares of Visa Inc. (NYSE:V) were up 1% during mid-day trading on Thursday after Robert W. Baird raised their price target on the stock from $320.00 to $330.00. Robert W. Baird currently has an outperform rating on the stock. Visa traded as high as $290.85 and last traded at $290.48. Approximately 1,523,356 shares were traded during trading, a decline of 79% from the average daily volume of 7,090,297 shares. The stock had previously closed at $287.52.

Several other equities analysts have also recently weighed in on V. Bank of America raised their price target on shares of Visa from $279.00 to $308.00 and gave the company a “neutral” rating in a research report on Tuesday, September 17th. William Blair raised shares of Visa to a “strong-buy” rating in a research report on Tuesday, July 23rd. Jefferies Financial Group dropped their price target on shares of Visa from $325.00 to $300.00 and set a “buy” rating on the stock in a research report on Wednesday, July 24th. StockNews.com raised shares of Visa from a “hold” rating to a “buy” rating in a research report on Friday, August 9th. Finally, JPMorgan Chase & Co. raised their price target on shares of Visa from $290.00 to $320.00 and gave the company an “overweight” rating in a research report on Tuesday, August 20th. Four equities research 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’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $314.19.

Insider Transactions at Visa

In other news, CEO Ryan Mcinerney sold 8,620 shares of the firm’s stock in a transaction that occurred on Tuesday, September 3rd. The shares were 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 owns 538 shares in the company, valued at $148,687.06. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. 0.19% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of the business. OmniStar Financial Group Inc. purchased a new position in Visa in the 3rd quarter valued at approximately $719,000. Intergy Private Wealth LLC grew its stake in Visa by 3.1% in the 3rd quarter. Intergy Private Wealth LLC now owns 1,610 shares of the credit-card processor’s stock valued at $443,000 after buying an additional 48 shares in the last quarter. Aspiriant LLC grew its stake in Visa by 4.6% in the 3rd quarter. Aspiriant LLC now owns 5,396 shares of the credit-card processor’s stock valued at $1,484,000 after buying an additional 238 shares in the last quarter. Trust Point Inc. grew its stake in Visa by 4.1% in the 3rd quarter. Trust Point Inc. now owns 16,184 shares of the credit-card processor’s stock valued at $4,450,000 after buying an additional 641 shares in the last quarter. Finally, Aaron Wealth Advisors LLC grew its stake in Visa by 9.9% in the 3rd quarter. Aaron Wealth Advisors LLC now owns 15,360 shares of the credit-card processor’s stock valued at $4,223,000 after buying an additional 1,381 shares in the last quarter. 82.15% of the stock is currently owned by hedge funds and other institutional investors.

Visa Price Performance

The firm has a market capitalization of $531.09 billion, a PE ratio of 32.44, a price-to-earnings-growth ratio of 1.94 and a beta of 0.96. 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 is $276.30 and its two-hundred day moving average is $272.86.

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. Visa had a net margin of 54.72% and a return on equity of 51.94%. The firm had revenue of $8.90 billion during the quarter, compared to the consensus estimate of $8.92 billion. During the same period last year, the firm earned $2.16 EPS. The business’s quarterly revenue was up 9.6% compared to the same quarter last year. Equities research analysts anticipate that Visa Inc. will post 9.92 earnings per share for the current fiscal year.

Visa Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, September 3rd. Shareholders of record on Friday, August 9th were issued a $0.52 dividend. This represents a $2.08 annualized dividend and a yield of 0.72%. The ex-dividend date of this dividend was Friday, August 9th. Visa’s payout ratio is 23.24%.

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.