Visa Inc. (V) Raised to “Buy” at Vetr Inc.
Vetr upgraded shares of Visa Inc. (NYSE:V) from a hold rating to a buy rating in a research report sent to investors on Tuesday morning. Vetr currently has $84.90 price target on the credit-card processor’s stock.
Several other research firms have also recently weighed in on V. Goldman Sachs Group Inc. reissued a buy rating and set a $86.00 price objective on shares of Visa in a research report on Monday, July 18th. William Blair reissued an outperform rating on shares of Visa in a research report on Tuesday, July 19th. Zacks Investment Research raised Visa from a hold rating to a buy rating and set a $88.00 price objective for the company in a research report on Tuesday, July 19th. Stifel Nicolaus boosted their price objective on Visa from $86.00 to $91.00 and gave the stock a buy rating in a research report on Friday, July 22nd. Finally, Pacific Crest reissued a buy rating on shares of Visa in a research report on Friday, July 22nd. Six analysts have rated the stock with a hold rating and twenty-eight have assigned a buy rating to the company. The company presently has a consensus rating of Buy and an average price target of $90.85.
Visa (NYSE:V) opened at 81.07 on Tuesday. Visa has a 12 month low of $66.12 and a 12 month high of $83.96. The stock has a 50 day moving average price of $82.00 and a 200 day moving average price of $79.88. The firm has a market cap of $189.93 billion, a price-to-earnings ratio of 31.71 and a beta of 1.00.
Visa (NYSE:V) last announced its quarterly earnings results on Monday, October 24th. The credit-card processor reported $0.78 earnings per share for the quarter, topping analysts’ consensus estimates of $0.73 by $0.05. Visa had a return on equity of 24.31% and a net margin of 39.72%. The company earned $4.26 billion during the quarter. During the same period in the prior year, the firm earned $0.62 EPS. Visa’s quarterly revenue was up 19.3% on a year-over-year basis. On average, equities analysts expect that Visa will post $3.29 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Tuesday, December 6th. Shareholders of record on Friday, November 18th will be issued a dividend of $0.165 per share. This represents a $0.66 dividend on an annualized basis and a yield of 0.81%. The ex-dividend date is Wednesday, November 16th. This is a boost from Visa’s previous quarterly dividend of $0.14. Visa’s dividend payout ratio is 22.67%.
In other Visa news, President Ryan Mcinerney sold 18,500 shares of the stock in a transaction dated Tuesday, November 8th. The stock was sold at an average price of $82.92, for a total transaction of $1,534,020.00. Following the completion of the transaction, the president now owns 12,548 shares in the company, valued at approximately $1,040,480.16. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, insider Charles W. Scharf sold 772,912 shares of the stock in a transaction dated Friday, October 28th. The stock was sold at an average price of $82.65, for a total value of $63,881,176.80. Following the transaction, the insider now owns 852,880 shares of the company’s stock, valued at approximately $70,490,532. The disclosure for this sale can be found here. Company insiders own 0.17% of the company’s stock.
Institutional investors have recently added to or reduced their stakes in the company. Ngam Advisors L.P. boosted its position in Visa by 7.4% in the second quarter. Ngam Advisors L.P. now owns 1,131,493 shares of the credit-card processor’s stock worth $83,923,000 after buying an additional 78,447 shares during the period. Comgest Global Investors S.A.S. boosted its position in Visa by 6.3% in the second quarter. Comgest Global Investors S.A.S. now owns 852,100 shares of the credit-card processor’s stock worth $63,200,000 after buying an additional 50,600 shares during the period. Calamos Advisors LLC boosted its position in Visa by 66.0% in the second quarter. Calamos Advisors LLC now owns 1,519,314 shares of the credit-card processor’s stock worth $112,688,000 after buying an additional 604,051 shares during the period. Strs Ohio boosted its position in Visa by 4.1% in the second quarter. Strs Ohio now owns 2,663,883 shares of the credit-card processor’s stock worth $197,580,000 after buying an additional 104,300 shares during the period. Finally, Daiwa Securities Group Inc. boosted its position in Visa by 4.0% in the second quarter. Daiwa Securities Group Inc. now owns 327,318 shares of the credit-card processor’s stock worth $24,594,000 after buying an additional 12,480 shares during the period. Hedge funds and other institutional investors own 80.23% of the company’s stock.
Visa Inc is a payments technology company. The Company and its subsidiaries, including Visa U.SA Inc (Visa U.SA), Visa International Service Association (Visa International), Visa Worldwide Pte. Limited, Visa Canada Corporation, Inovant LLC and CyberSource Corporation (CyberSource), operate a processing network, VisaNet, which facilitates authorization, clearing and settlement of payment transactions around the world.
To view Vetr’s full report, visit Vetr’s official website.
Receive News & Stock Ratings for Visa Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Visa Inc. and related stocks with our FREE daily email newsletter.