Susquehanna Increases Visa (NYSE:V) Price Target to $375.00

Visa (NYSE:V) had its target price boosted by Susquehanna from $339.00 to $375.00 in a research note released on Wednesday morning,Benzinga reports. The brokerage currently has a positive rating on the credit-card processor’s stock.

Several other analysts have also issued reports on the company. JPMorgan Chase & Co. upped their target price on Visa from $290.00 to $320.00 and gave the stock an “overweight” rating in a report on Tuesday, August 20th. Piper Sandler upped their price objective on Visa from $319.00 to $322.00 and gave the stock an “overweight” rating in a research note on Wednesday, October 30th. BMO Capital Markets boosted their target price on shares of Visa from $310.00 to $320.00 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 company a “neutral” rating in a research note on Tuesday, September 17th. Finally, BNP Paribas upgraded shares of Visa from a “neutral” rating to an “outperform” rating and set a $325.00 price objective on the stock in a research note on Tuesday, September 3rd. Four analysts have rated the stock with a hold rating, twenty-five have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $324.74.

Visa Stock Performance

Shares of V stock opened at $314.81 on Wednesday. Visa has a 12 month low of $252.70 and a 12 month high of $317.42. The company’s fifty day simple moving average is $298.56 and its 200-day simple moving average is $280.71. The firm has a market cap of $586.45 billion, a PE ratio of 32.40, a P/E/G ratio of 2.11 and a beta of 0.96. 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 issued its quarterly earnings results on Tuesday, October 29th. The credit-card processor reported $2.71 earnings per share (EPS) for the quarter, beating the consensus estimate 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 analyst estimates of $9.49 billion. During the same period in the previous year, the business earned $2.33 EPS. The company’s revenue was up 11.7% compared to the same quarter last year. Equities research analysts expect that Visa will post 11.19 EPS for the current fiscal year.

Visa Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, December 2nd. Stockholders of record on Tuesday, November 12th were given a $0.59 dividend. This represents a $2.36 dividend on an annualized basis and a dividend 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 payout ratio is presently 24.25%.

Insider Buying and Selling

In related news, insider Paul D. Fabara sold 2,171 shares of Visa stock in a transaction that occurred on Friday, November 22nd. The shares were sold at an average price of $307.97, for a total value of $668,602.87. Following the transaction, the insider now directly owns 17,894 shares of the company’s stock, valued at $5,510,815.18. This trade represents a 10.82 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. 0.19% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Visa

Several hedge funds and other institutional investors have recently modified their holdings of the business. Brass Tax Wealth Management Inc. lifted its stake in Visa by 12.6% in the 3rd quarter. Brass Tax Wealth Management Inc. now owns 2,298 shares of the credit-card processor’s stock valued at $632,000 after purchasing an additional 257 shares during the last quarter. Legacy Wealth Management LLC MS boosted its holdings in shares of Visa by 2.5% during the 3rd quarter. Legacy Wealth Management LLC MS now owns 27,274 shares of the credit-card processor’s stock valued at $7,499,000 after acquiring an additional 655 shares in the last quarter. Alternative Investment Advisors LLC. bought a new stake in Visa during the 3rd quarter worth $224,000. Garden State Investment Advisory Services LLC increased its holdings in Visa by 5.5% in the 3rd quarter. Garden State Investment Advisory Services LLC now owns 2,589 shares of the credit-card processor’s stock worth $714,000 after purchasing an additional 135 shares in the last quarter. Finally, Copley Financial Group Inc. bought a new position in Visa in the third quarter valued at about $616,000. 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.