Visa (NYSE:V) Price Target Raised to $315.00 at Royal Bank of Canada

Visa (NYSE:V) had its target price raised by Royal Bank of Canada from $309.00 to $315.00 in a report published on Wednesday morning, Benzinga reports. Royal Bank of Canada currently has an outperform rating on the credit-card processor’s stock.

Other equities research analysts also recently issued research reports about the company. TD Cowen initiated coverage on Visa in a report on Thursday, April 11th. They issued a buy rating and a $320.00 target price for the company. KeyCorp raised their target price on Visa from $275.00 to $300.00 and gave the company an overweight rating in a report on Monday, January 8th. Citigroup lifted their price target on Visa from $314.00 to $321.00 and gave the stock a buy rating in a research note on Wednesday. Redburn Atlantic reaffirmed a neutral rating and set a $307.00 price target on shares of Visa in a research note on Wednesday, March 27th. Finally, Mizuho reaffirmed a neutral rating and set a $265.00 price target on shares of Visa in a research note on Wednesday, March 27th. Five investment analysts have rated the stock with a hold rating and twenty have issued a buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of Moderate Buy and an average price target of $302.58.

Visa Price Performance

Visa stock opened at $275.04 on Wednesday. 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 quick ratio of 1.45 and a current ratio of 1.45. The business has a fifty day moving average of $279.44 and a two-hundred day moving average of $263.97. The company has a market cap of $505.11 billion, a P/E ratio of 30.73, a price-to-earnings-growth ratio of 1.89 and a beta of 0.96.

Visa (NYSE:V) last released its 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. Visa had a return on equity of 51.72% and a net margin of 53.87%. The company had revenue of $8.78 billion during the quarter, compared to the consensus estimate of $8.62 billion. During the same quarter last year, the company earned $2.09 earnings per share. Visa’s quarterly revenue was up 9.9% compared to the same quarter last year. As a group, analysts predict that Visa will post 9.88 earnings per share for the current fiscal year.

Visa Announces Dividend

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

Insider Activity

In other Visa news, CAO Peter M. Andreski sold 2,615 shares of the business’s stock in a transaction dated Wednesday, February 7th. The stock was sold at an average price of $278.88, for a total transaction of $729,271.20. Following the completion of the sale, the chief accounting officer now owns 4,898 shares of the company’s stock, valued at $1,365,954.24. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. In other Visa news, CEO Ryan Mcinerney sold 8,200 shares of the business’s stock in a transaction dated Monday, April 1st. The stock was sold at an average price of $280.36, for a total transaction of $2,298,952.00. Following the completion of the sale, the chief executive officer now owns 538 shares of the company’s stock, valued at $150,833.68. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CAO Peter M. Andreski sold 2,615 shares of the business’s 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 sale, the chief accounting officer now directly 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. Insiders sold 18,965 shares of company stock valued at $5,256,352 in the last ninety days. Company insiders own 0.19% of the company’s stock.

Institutional Investors Weigh In On Visa

Several institutional investors and hedge funds have recently modified their holdings of V. Altshuler Shaham Ltd purchased a new stake in shares of Visa in the third quarter worth about $25,000. Livelsberger Financial Advisory acquired a new position in shares of Visa in the fourth quarter worth about $25,000. Westend Capital Management LLC acquired a new position in shares of Visa in the first quarter worth about $25,000. O Brien Wealth Partners LLC acquired a new position in shares of Visa in the fourth quarter worth about $32,000. Finally, Nalls Sherbakoff Group LLC lifted its stake 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 worth $33,000 after acquiring an additional 120 shares in the last quarter. Hedge funds and other 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.