Visa (NYSE:V) Shares Up 0.7% Following Analyst Upgrade

Visa Inc. (NYSE:V) traded up 0.7% during mid-day trading on Tuesday after Bank of America raised their price target on the stock from $279.00 to $308.00. Bank of America currently has a neutral rating on the stock. Visa traded as high as $292.80 and last traded at $292.57. 855,557 shares were traded during trading, a decline of 88% from the average session volume of 7,053,967 shares. The stock had previously closed at $290.48.

A number of other brokerages have also recently commented on V. Royal Bank of Canada reduced their price objective on Visa from $315.00 to $311.00 and set an “outperform” rating on the stock in a research note on Wednesday, July 24th. Citigroup lowered their price target on shares of Visa from $321.00 to $319.00 and set a “buy” rating for the company in a report on Wednesday, July 24th. Piper Sandler lowered their price objective on Visa from $322.00 to $319.00 and set an “overweight” rating for the company in a research note on Wednesday, July 24th. Compass Point started coverage on Visa in a research note on Wednesday, September 4th. They set a “buy” rating and a $319.00 target price for the company. Finally, Morgan Stanley dropped their price target on shares of Visa from $326.00 to $322.00 and set an “overweight” rating for the company in a research note on Wednesday, July 24th. Six investment analysts have rated the stock with a hold rating, twenty-four have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $310.22.

Insider Transactions at Visa

In other news, CEO Ryan Mcinerney sold 8,620 shares of Visa 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 approximately $148,687.06. The sale was disclosed in a filing with the SEC, which can be accessed through this link. 0.19% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Visa

Several institutional investors and hedge funds have recently made changes to their positions in the company. Brio Consultants LLC boosted its holdings in shares of Visa by 39.1% in the fourth quarter. Brio Consultants LLC now owns 1,555 shares of the credit-card processor’s stock valued at $405,000 after buying an additional 437 shares during the period. Gilbert & Cook Inc. boosted its stake in Visa by 2.9% in the 4th quarter. Gilbert & Cook Inc. now owns 5,629 shares of the credit-card processor’s stock worth $1,466,000 after purchasing an additional 158 shares during the period. Aveo Capital Partners LLC increased its holdings in Visa by 9.2% during the 4th quarter. Aveo Capital Partners LLC now owns 2,802 shares of the credit-card processor’s stock worth $730,000 after purchasing an additional 235 shares in the last quarter. 9258 Wealth Management LLC raised its stake in shares of Visa by 20.8% in the 4th quarter. 9258 Wealth Management LLC now owns 8,043 shares of the credit-card processor’s stock valued at $2,094,000 after purchasing an additional 1,387 shares during the period. Finally, Gryphon Financial Partners LLC lifted its holdings in shares of Visa by 53.8% in the fourth quarter. Gryphon Financial Partners LLC now owns 13,640 shares of the credit-card processor’s stock valued at $3,282,000 after purchasing an additional 4,774 shares in the last quarter. Institutional investors and hedge funds own 82.15% of the company’s stock.

Visa Stock Up 0.4 %

The company has a debt-to-equity ratio of 0.54, a current ratio of 1.37 and a quick ratio of 1.37. The firm has a 50-day moving average price of $268.78 and a two-hundred day moving average price of $273.21. The company has a market capitalization of $533.35 billion, a price-to-earnings ratio of 32.59, a PEG ratio of 2.01 and a beta of 0.96.

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

Visa Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, September 3rd. Shareholders of record on Friday, August 9th were given a dividend of $0.52 per share. The ex-dividend date was Friday, August 9th. This represents a $2.08 dividend on an annualized basis and a yield of 0.71%. Visa’s dividend payout ratio (DPR) is 23.24%.

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.