Visa (NYSE:V) Trading 1.7% Higher Following Analyst Upgrade

Shares of Visa Inc. (NYSE:V) were up 1.7% during trading on Thursday after Oppenheimer raised their price target on the stock from $321.00 to $375.00. Oppenheimer currently has an outperform rating on the stock. Visa traded as high as $316.87 and last traded at $315.01. Approximately 1,514,998 shares changed hands during mid-day trading, a decline of 78% from the average daily volume of 6,882,979 shares. The stock had previously closed at $309.78.

Several other research analysts also recently weighed in on V. BMO Capital Markets boosted their target price on Visa from $310.00 to $320.00 and gave the stock an “outperform” rating in a research note on Wednesday, October 30th. Piper Sandler increased their price objective on shares of Visa from $319.00 to $322.00 and gave the company an “overweight” rating in a research report on Wednesday, October 30th. TD Cowen boosted their target price on shares of Visa from $318.00 to $325.00 and gave the stock a “buy” rating in a research report on Wednesday, October 30th. Jefferies Financial Group raised their price target on shares of Visa from $320.00 to $330.00 and gave the stock a “buy” rating in a report on Wednesday, October 30th. Finally, Barclays boosted their price objective on shares of Visa from $319.00 to $347.00 and gave the company an “overweight” rating in a report on Monday, November 4th. Four investment analysts have rated the stock with a hold rating, twenty-five have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $328.41.

Insider Activity

In other Visa news, insider Paul D. Fabara sold 2,171 shares of the business’s stock in a transaction on Friday, November 22nd. The stock was sold at an average price of $307.97, for a total transaction of $668,602.87. Following the completion of the transaction, the insider now owns 17,894 shares in the company, valued at approximately $5,510,815.18. The trade was a 10.82 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Corporate insiders own 0.19% of the company’s stock.

Hedge Funds Weigh In On Visa

Several hedge funds have recently modified their holdings of the company. Peterson Financial Group Inc. acquired a new stake in shares of Visa during the 3rd quarter valued at $26,000. POM Investment Strategies LLC lifted its holdings in shares of Visa by 970.0% during the second quarter. POM Investment Strategies LLC now owns 107 shares of the credit-card processor’s stock valued at $28,000 after purchasing an additional 97 shares during the last quarter. Reston Wealth Management LLC acquired a new position in shares of Visa in the 3rd quarter valued at $31,000. West Financial Advisors LLC boosted its position in shares of Visa by 101.4% in the 3rd quarter. West Financial Advisors LLC now owns 145 shares of the credit-card processor’s stock valued at $40,000 after purchasing an additional 73 shares during the period. Finally, Fairway Wealth LLC acquired a new stake in Visa during the 2nd quarter worth about $39,000. 82.15% of the stock is currently owned by institutional investors and hedge funds.

Visa Stock Up 1.6 %

The business’s 50 day simple moving average is $302.41 and its 200 day simple moving average is $282.21. The company has a market capitalization of $586.58 billion, a PE ratio of 32.36, a price-to-earnings-growth 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 posted its quarterly earnings data 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. Visa had a net margin of 54.96% and a return on equity of 53.16%. The firm had revenue of $9.62 billion during the quarter, compared to analyst estimates of $9.49 billion. During the same quarter last year, the business posted $2.33 EPS. The company’s revenue was up 11.7% on a year-over-year basis. As a group, analysts forecast that Visa Inc. will post 11.23 EPS for the current year.

Visa Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, December 2nd. Shareholders of record on Tuesday, November 12th were paid a dividend of $0.59 per share. This represents a $2.36 annualized dividend and a yield of 0.75%. The ex-dividend date was Tuesday, November 12th. This is a boost from Visa’s previous quarterly dividend of $0.52. Visa’s 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.