Visa (NYSE:V) Stock Price Up 0.6% Following Analyst Upgrade

Visa Inc. (NYSE:V)’s stock price was up 0.6% during mid-day trading on Wednesday after Susquehanna raised their price target on the stock from $339.00 to $375.00. Susquehanna currently has a positive rating on the stock. Visa traded as high as $315.55 and last traded at $314.41. Approximately 1,214,816 shares were traded during mid-day trading, a decline of 82% from the average daily volume of 6,895,596 shares. The stock had previously closed at $312.38.

Several other brokerages have also weighed in on V. Royal Bank of Canada increased their price objective on shares of Visa from $311.00 to $322.00 and gave the stock an “outperform” rating in a report on Wednesday, October 30th. Bank of America increased their price target on shares of Visa from $279.00 to $308.00 and gave the stock a “neutral” rating in a research note on Tuesday, September 17th. Morgan Stanley boosted their price objective on shares of Visa from $322.00 to $326.00 and gave the company an “overweight” rating in a research note on Wednesday, October 30th. Robert W. Baird increased their target price on Visa from $330.00 to $340.00 and gave the stock an “outperform” rating in a research report on Wednesday, October 30th. Finally, BNP Paribas raised Visa from a “neutral” rating to an “outperform” rating and set a $325.00 price target for the company in a research report on Tuesday, September 3rd. Four research analysts have rated the stock with a hold rating, twenty-five have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, Visa presently has a consensus rating of “Moderate Buy” and an average price target of $324.74.

Insider Transactions at Visa

In related news, insider Paul D. Fabara sold 2,171 shares of the business’s stock in a transaction dated Friday, November 22nd. The stock was sold at an average price of $307.97, for a total value of $668,602.87. Following the completion of the sale, the insider now directly owns 17,894 shares of the company’s stock, valued at $5,510,815.18. The trade was a 10.82 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Corporate insiders own 0.19% of the company’s stock.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of the business. Peterson Financial Group Inc. acquired a new stake in Visa in the third quarter worth $26,000. POM Investment Strategies LLC boosted its position in 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 acquiring an additional 97 shares during the period. Reston Wealth Management LLC bought a new position in shares of Visa in the third quarter worth $31,000. TruNorth Capital Management LLC increased its holdings in shares of Visa by 211.9% during the second quarter. TruNorth Capital Management LLC now owns 131 shares of the credit-card processor’s stock valued at $34,000 after purchasing an additional 89 shares during the period. Finally, CarsonAllaria Wealth Management Ltd. bought a new stake in shares of Visa during the second quarter valued at about $35,000. 82.15% of the stock is currently owned by institutional investors.

Visa Trading Up 0.1 %

The firm has a market capitalization of $585.37 billion, a P/E ratio of 32.29, a PEG ratio of 2.07 and a beta of 0.96. The business’s 50 day moving average is $297.82 and its two-hundred day moving average is $280.48. The company has a quick ratio of 1.28, a current ratio of 1.28 and a debt-to-equity ratio of 0.55.

Visa (NYSE:V) last released its quarterly earnings results on Tuesday, October 29th. The credit-card processor reported $2.71 EPS for the quarter, topping analysts’ consensus estimates of $2.58 by $0.13. The company had revenue of $9.62 billion for the quarter, compared to the consensus estimate of $9.49 billion. Visa had a net margin of 54.96% and a return on equity of 53.16%. Visa’s revenue was up 11.7% on a year-over-year basis. During the same period in the previous year, the firm earned $2.33 EPS. Analysts expect that Visa Inc. will post 11.19 EPS for the current year.

Visa Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, December 2nd. Shareholders of record on Tuesday, November 12th were given a $0.59 dividend. This represents a $2.36 dividend on an annualized basis and a yield of 0.75%. This is an increase from Visa’s previous quarterly dividend of $0.52. The ex-dividend date was Tuesday, November 12th. Visa’s dividend payout ratio is 24.25%.

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.