Visa (NYSE:V) Price Target Raised to $220.00 at Mizuho

Visa (NYSE:VGet Rating) had its target price raised by Mizuho from $215.00 to $220.00 in a research note released on Friday, The Fly reports. The brokerage currently has a maintains rating on the credit-card processor’s stock.

A number of other equities analysts also recently issued reports on V. BMO Capital Markets reaffirmed a maintains rating on shares of Visa in a report on Thursday, July 28th. Truist Financial decreased their price objective on Visa from $275.00 to $250.00 in a report on Thursday, June 30th. Credit Suisse Group increased their price objective on Visa from $260.00 to $265.00 and gave the company an outperform rating in a report on Wednesday, April 27th. The Goldman Sachs Group began coverage on Visa in a report on Tuesday, May 17th. They issued a buy rating and a $282.00 price objective for the company. Finally, Macquarie decreased their price objective on Visa from $270.00 to $260.00 and set an outperform rating for the company in a report on Wednesday, July 27th. Three analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of Moderate Buy and a consensus target price of $258.19.

Visa Stock Performance

Shares of V opened at $211.36 on Friday. The stock has a 50 day moving average price of $204.98 and a 200 day moving average price of $210.53. The company has a quick ratio of 1.43, a current ratio of 1.43 and a debt-to-equity ratio of 0.63. The company has a market capitalization of $401.85 billion, a price-to-earnings ratio of 31.17, a price-to-earnings-growth ratio of 1.73 and a beta of 0.89. Visa has a 52-week low of $185.91 and a 52-week high of $247.83.

Visa Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, September 1st. Shareholders of record on Friday, August 12th will be given a $0.375 dividend. This represents a $1.50 annualized dividend and a yield of 0.71%. The ex-dividend date is Thursday, August 11th. Visa’s payout ratio is 22.12%.

Insiders Place Their Bets

In other news, CEO Alfred F. Kelly, Jr. sold 9,000 shares of the firm’s stock in a transaction on Thursday, June 30th. The stock was sold at an average price of $195.37, for a total value of $1,758,330.00. Following the completion of the transaction, the chief executive officer now owns 159,887 shares in the company, valued at $31,237,123.19. The sale was disclosed in a document filed with the SEC, which is available at this link. Over the last quarter, insiders sold 27,000 shares of company stock worth $5,560,740. 0.21% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the company. BlackRock Inc. boosted its stake in shares of Visa by 1.9% during the fourth quarter. BlackRock Inc. now owns 129,031,301 shares of the credit-card processor’s stock valued at $27,962,374,000 after acquiring an additional 2,440,030 shares during the last quarter. State Street Corp boosted its stake in shares of Visa by 2.1% during the fourth quarter. State Street Corp now owns 74,542,114 shares of the credit-card processor’s stock valued at $16,154,022,000 after acquiring an additional 1,504,897 shares during the last quarter. Geode Capital Management LLC boosted its stake in shares of Visa by 2.9% during the fourth quarter. Geode Capital Management LLC now owns 29,682,215 shares of the credit-card processor’s stock valued at $6,416,486,000 after acquiring an additional 827,137 shares during the last quarter. Alliancebernstein L.P. boosted its stake in shares of Visa by 11.5% during the fourth quarter. Alliancebernstein L.P. now owns 25,850,411 shares of the credit-card processor’s stock valued at $5,602,043,000 after acquiring an additional 2,659,845 shares during the last quarter. Finally, Massachusetts Financial Services Co. MA boosted its stake in shares of Visa by 1.3% during the fourth quarter. Massachusetts Financial Services Co. MA now owns 24,368,049 shares of the credit-card processor’s stock valued at $5,280,800,000 after acquiring an additional 320,042 shares during the last quarter. Hedge funds and other institutional investors own 80.77% of the company’s stock.

About Visa

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Visa Inc operates as a payments technology company worldwide. The company facilitates digital payments among consumers, merchants, financial institutions, businesses, strategic partners, and government entities. It operates VisaNet, a transaction processing network that enables authorization, clearing, and settlement of payment transactions.

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