Visa (NYSE:V) Price Target Raised to $321.00 at Citigroup

Visa (NYSE:V) had its price objective raised by Citigroup from $314.00 to $321.00 in a research note released on Wednesday morning, Benzinga reports. They currently have a buy rating on the credit-card processor’s stock.

V has been the topic of several other research reports. Redburn Atlantic reissued a neutral rating and issued a $307.00 target price on shares of Visa in a report on Wednesday, March 27th. Wedbush boosted their target price on shares of Visa from $280.00 to $300.00 and gave the stock an outperform rating in a report on Wednesday. Wells Fargo & Company boosted their price target on shares of Visa from $300.00 to $325.00 and gave the stock an overweight rating in a research report on Wednesday, March 6th. KeyCorp boosted their price target on shares of Visa from $275.00 to $300.00 and gave the stock an overweight rating in a research report on Monday, January 8th. Finally, Barclays boosted their price target on shares of Visa from $304.00 to $319.00 and gave the stock an overweight rating in a research report on Monday, January 29th. Five equities research analysts have rated the stock with a hold rating and twenty have given a buy rating to the stock. According to data from MarketBeat, Visa presently has a consensus rating of Moderate Buy and a consensus target price of $302.58.

Visa Price Performance

V 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’s fifty day moving average price is $279.44 and its 200-day moving average price is $263.97. 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 company has a market capitalization of $505.11 billion, a PE 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, topping the consensus estimate of $2.43 by $0.08. Visa had a net margin of 53.87% and a return on equity of 51.72%. The firm had revenue of $8.78 billion for the quarter, compared to the consensus estimate of $8.62 billion. During the same quarter in the previous year, the firm earned $2.09 earnings per share. The company’s quarterly revenue was up 9.9% compared to the same quarter last year. On average, equities analysts anticipate that Visa will post 9.88 EPS for the current fiscal year.

Visa Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, June 3rd. Investors of record on Friday, May 17th will be paid a $0.52 dividend. 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 (DPR) is presently 23.24%.

Insider Buying and Selling

In other Visa news, CEO Ryan Mcinerney sold 8,200 shares of the stock in a transaction dated Monday, April 1st. The shares were 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 directly owns 538 shares of the company’s stock, valued at $150,833.68. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. In related news, CAO Peter M. Andreski sold 2,615 shares of the stock in a transaction that occurred 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 transaction, the chief accounting officer now owns 4,898 shares in the company, valued at approximately $1,365,954.24. The sale was disclosed in a filing with the SEC, which is available through this link. Also, CEO Ryan Mcinerney sold 8,200 shares of the stock in a transaction that occurred on 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 transaction, the chief executive officer now owns 538 shares in the company, valued at approximately $150,833.68. The disclosure for this sale can be found here. Insiders sold a total of 18,965 shares of company stock valued at $5,256,352 over the last three months. 0.19% of the stock is owned by company insiders.

Hedge Funds Weigh In On Visa

Several hedge funds and other institutional investors have recently bought and sold shares of V. Trifecta Capital Advisors LLC increased its holdings in Visa by 2.7% in the 3rd quarter. Trifecta Capital Advisors LLC now owns 20,176 shares of the credit-card processor’s stock worth $4,641,000 after buying an additional 536 shares during the period. Buttonwood Financial Advisors Inc. grew its stake in shares of Visa by 6.0% during the 3rd quarter. Buttonwood Financial Advisors Inc. now owns 16,590 shares of the credit-card processor’s stock worth $3,816,000 after purchasing an additional 933 shares during the period. Trust Co. of Oklahoma grew its stake in shares of Visa by 1.5% during the 3rd quarter. Trust Co. of Oklahoma now owns 31,365 shares of the credit-card processor’s stock worth $7,214,000 after purchasing an additional 453 shares during the period. Relyea Zuckerberg Hanson LLC grew its stake in shares of Visa by 1.6% during the 3rd quarter. Relyea Zuckerberg Hanson LLC now owns 5,370 shares of the credit-card processor’s stock worth $1,235,000 after purchasing an additional 86 shares during the period. Finally, Naples Global Advisors LLC grew its stake in shares of Visa by 29.8% during the 3rd quarter. Naples Global Advisors LLC now owns 6,747 shares of the credit-card processor’s stock worth $1,552,000 after purchasing an additional 1,550 shares during the period. Institutional investors and hedge funds 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.