Wells Fargo & Company Issues Positive Forecast for Visa (NYSE:V) Stock Price

Visa (NYSE:V) had its price target raised by Wells Fargo & Company from $325.00 to $360.00 in a research note issued to investors on Friday morning,Benzinga reports. The firm currently has an overweight rating on the credit-card processor’s stock.

A number of other research firms also recently weighed in on V. Jefferies Financial Group boosted their target price on Visa from $320.00 to $330.00 and gave the stock a “buy” rating in a research report on Wednesday, October 30th. Piper Sandler upped their target price 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. Morgan Stanley lifted their price target on shares of Visa from $326.00 to $371.00 and gave the stock an “overweight” rating in a research report on Wednesday, December 18th. Robert W. Baird increased their price objective on shares of Visa from $330.00 to $340.00 and gave the company an “outperform” rating in a report on Wednesday, October 30th. Finally, The Goldman Sachs Group reaffirmed a “buy” rating and set a $317.00 target price on shares of Visa in a report on Thursday, September 12th. Four research 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, Visa presently has a consensus rating of “Moderate Buy” and a consensus price target of $329.70.

Visa Stock Up 0.2 %

Shares of NYSE V opened at $314.91 on Friday. The company has a quick ratio of 1.28, a current ratio of 1.28 and a debt-to-equity ratio of 0.55. The company has a market cap of $586.64 billion, a price-to-earnings ratio of 32.36, a price-to-earnings-growth ratio of 2.11 and a beta of 0.96. Visa has a 12-month low of $252.70 and a 12-month high of $321.61. The firm’s 50-day simple moving average is $309.06 and its 200 day simple moving average is $285.28.

Visa (NYSE:V) last released its quarterly earnings results on Tuesday, October 29th. The credit-card processor reported $2.71 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 business had revenue of $9.62 billion for the quarter, compared to analysts’ expectations of $9.49 billion. During the same period in the prior year, the firm earned $2.33 earnings per share. Visa’s revenue was up 11.7% compared to the same quarter last year. On average, research analysts expect that Visa will post 11.23 earnings per share for the current fiscal year.

Visa Increases Dividend

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

Insider Activity at Visa

In related news, CEO Ryan Mcinerney sold 8,620 shares of the company’s stock in a transaction dated Thursday, January 2nd. The stock was sold at an average price of $317.78, for a total transaction of $2,739,263.60. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Paul D. Fabara sold 2,171 shares of the firm’s 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 completion of the transaction, the insider now owns 17,894 shares of the company’s stock, valued at approximately $5,510,815.18. This represents a 10.82 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.13% of the stock is owned by insiders.

Institutional Investors Weigh In On Visa

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. Unionview LLC grew its holdings in Visa by 1.5% during the third quarter. Unionview LLC now owns 2,296 shares of the credit-card processor’s stock worth $631,000 after purchasing an additional 33 shares during the period. FWG Holdings LLC boosted its stake in shares of Visa by 1.1% during the 3rd quarter. FWG Holdings LLC now owns 3,168 shares of the credit-card processor’s stock worth $900,000 after acquiring an additional 34 shares during the period. St. Louis Trust Co increased its holdings in shares of Visa by 0.9% during the 3rd quarter. St. Louis Trust Co now owns 3,885 shares of the credit-card processor’s stock worth $1,068,000 after acquiring an additional 34 shares during the last quarter. Menard Financial Group LLC raised its stake in Visa by 0.6% in the 3rd quarter. Menard Financial Group LLC now owns 6,217 shares of the credit-card processor’s stock valued at $1,709,000 after acquiring an additional 35 shares during the period. Finally, KMG Fiduciary Partners LLC lifted its holdings in Visa by 0.3% during the 3rd quarter. KMG Fiduciary Partners LLC now owns 13,933 shares of the credit-card processor’s stock valued at $3,831,000 after purchasing an additional 37 shares during the last quarter. Institutional investors own 82.15% of the company’s stock.

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.