Visa (NYSE:V) Price Target Raised to $300.00 at Macquarie

Visa (NYSE:V) had its target price upped by Macquarie from $290.00 to $300.00 in a research note published on Wednesday morning, Benzinga reports. The firm currently has an outperform rating on the credit-card processor’s stock.

A number of other equities research analysts also recently weighed in on V. Redburn Atlantic reaffirmed a neutral rating and issued a $307.00 target price on shares of Visa in a report on Wednesday, March 27th. Susquehanna increased their target price on shares of Visa from $300.00 to $326.00 and gave the stock a positive rating in a report on Friday, January 26th. Barclays lifted their price target on shares of Visa from $304.00 to $319.00 and gave the company an overweight rating in a report on Monday, January 29th. Citigroup boosted their target price on shares of Visa from $314.00 to $321.00 and gave the stock a buy rating in a research note on Wednesday. Finally, KeyCorp increased their price target on Visa from $275.00 to $300.00 and gave the company an overweight rating in a research note on Monday, January 8th. Five equities research analysts have rated the stock with a hold rating and twenty have issued a buy rating to the company. According to MarketBeat.com, the company currently has an average rating of Moderate Buy and an average price target of $302.58.

Visa Trading Up 0.3 %

V stock opened at $275.04 on Wednesday. The stock has a market cap of $505.11 billion, a price-to-earnings ratio of 30.73, a price-to-earnings-growth ratio of 1.89 and a beta of 0.96. The company has a fifty day moving average price of $279.44 and a two-hundred day moving average price of $263.97. Visa has a one year low of $216.14 and a one year high of $290.96. The company has a debt-to-equity ratio of 0.54, a current ratio of 1.45 and a quick ratio of 1.45.

Visa (NYSE:V) last posted its quarterly earnings results on Tuesday, April 23rd. The credit-card processor reported $2.51 EPS for the quarter, beating analysts’ consensus estimates of $2.43 by $0.08. The business had revenue of $8.78 billion during the quarter, compared to the consensus estimate of $8.62 billion. Visa had a return on equity of 51.72% and a net margin of 53.87%. Visa’s revenue for the quarter was up 9.9% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $2.09 earnings per share. Equities analysts anticipate that Visa will post 9.88 EPS for the current year.

Visa Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, June 3rd. Stockholders of record on Friday, May 17th will be issued a $0.52 dividend. The ex-dividend date of this dividend is Thursday, May 16th. This represents a $2.08 dividend on an annualized basis and a dividend yield of 0.76%. Visa’s dividend payout ratio is presently 23.24%.

Insider Buying and Selling

In other news, CAO Peter M. Andreski sold 2,615 shares of the stock in a transaction dated Wednesday, February 7th. The shares were sold at an average price of $278.88, for a total value of $729,271.20. Following the completion of the sale, the chief accounting officer now owns 4,898 shares in the company, valued at $1,365,954.24. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. In related news, CEO Ryan Mcinerney sold 8,150 shares of Visa stock in a transaction on Thursday, February 1st. The stock was sold at an average price of $273.39, for a total transaction of $2,228,128.50. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CAO Peter M. Andreski sold 2,615 shares of the company’s stock in a transaction on Wednesday, February 7th. The shares were sold at an average price of $278.88, for a total value of $729,271.20. Following the completion of the transaction, the chief accounting officer now owns 4,898 shares of the company’s stock, valued at approximately $1,365,954.24. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 18,965 shares of company stock worth $5,256,352. 0.19% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Visa

A number of hedge funds and other institutional investors have recently made changes to their positions in V. Altshuler Shaham Ltd purchased a new position in shares of Visa during the 3rd quarter valued at $25,000. Livelsberger Financial Advisory purchased a new stake in Visa during the fourth quarter valued at about $25,000. Westend Capital Management LLC bought a new position in Visa during the first quarter worth about $25,000. O Brien Wealth Partners LLC bought a new stake in shares of Visa in the fourth quarter valued at approximately $32,000. Finally, Nalls Sherbakoff Group LLC raised its position in shares of Visa by 545.5% in the third quarter. Nalls Sherbakoff Group LLC now owns 142 shares of the credit-card processor’s stock valued at $33,000 after purchasing an additional 120 shares during the period. 82.15% of the stock is owned by hedge funds and other institutional investors.

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.