Visa (NYSE:V) Upgraded to Buy at

Visa (NYSE:VGet Rating) was upgraded by research analysts at from a “hold” rating to a “buy” rating in a research note issued to investors on Friday.

Other equities analysts also recently issued reports about the company. Credit Suisse Group lifted their target price on Visa from $235.00 to $245.00 and gave the company an “outperform” rating in a research report on Wednesday, October 26th. Truist Financial decreased their price objective on Visa from $250.00 to $220.00 and set a “buy” rating on the stock in a research note on Thursday, October 13th. Barclays cut their price objective on Visa from $271.00 to $264.00 and set an “overweight” rating on the stock in a report on Thursday, October 27th. Keefe, Bruyette & Woods lowered their price objective on Visa from $275.00 to $246.00 in a research note on Monday, October 10th. Finally, Jefferies Financial Group decreased their target price on Visa from $250.00 to $220.00 and set a “buy” rating for the company in a research report on Wednesday, October 19th. Four investment analysts have rated the stock with a hold rating and twenty-one have assigned a buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $248.14.

Visa Stock Performance

Shares of Visa stock opened at $211.73 on Friday. Visa has a 52 week low of $174.60 and a 52 week high of $235.85. The company has a quick ratio of 1.45, a current ratio of 1.45 and a debt-to-equity ratio of 0.61. The firm has a market capitalization of $400.26 billion, a P/E ratio of 30.29, a PEG ratio of 1.69 and a beta of 0.96. The company has a 50 day moving average price of $193.72 and a 200 day moving average price of $200.97.

Visa announced that its board has authorized a share buyback program on Tuesday, October 25th that permits the company to buyback $12.00 billion in outstanding shares. This buyback authorization permits the credit-card processor to purchase up to 3.1% of its stock through open market purchases. Stock buyback programs are usually a sign that the company’s board believes its shares are undervalued.

Insider Buying and Selling

In related news, CEO Alfred F. Kelly, Jr. sold 6,000 shares of the stock in a transaction on Thursday, September 29th. The stock was sold at an average price of $180.00, for a total transaction of $1,080,000.00. Following the completion of the sale, the chief executive officer now directly owns 153,887 shares of the company’s stock, valued at $27,699,660. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Insiders own 0.21% of the company’s stock.

Hedge Funds Weigh In On Visa

Several hedge funds and other institutional investors have recently bought and sold shares of V. McClarren Financial Advisors Inc. acquired a new stake in shares of Visa during the third quarter worth $26,000. Cowa LLC acquired a new stake in Visa during the 3rd quarter valued at $29,000. Aurora Private Wealth Inc. boosted its position in shares of Visa by 7,648.7% in the 2nd quarter. Aurora Private Wealth Inc. now owns 79,502 shares of the credit-card processor’s stock worth $31,000 after purchasing an additional 78,476 shares during the last quarter. Monumental Financial Group Inc. bought a new position in shares of Visa in the 1st quarter worth $35,000. Finally, Ritter Daniher Financial Advisory LLC DE bought a new position in Visa during the second quarter worth about $35,000. 81.49% of the stock is owned by institutional investors and hedge funds.

Visa Company Profile

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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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