Visa Inc. (V) Cut to “Hold” at Vetr Inc.
Visa Inc. (NYSE:V) was downgraded by equities researchers at Vetr from a “buy” rating to a “hold” rating in a report released on Monday. They currently have a $84.76 price target on the credit-card processor’s stock. Vetr‘s price objective would suggest a potential upside of 3.76% from the stock’s current price.
Other equities research analysts also recently issued reports about the company. Nomura restated a “buy” rating and issued a $91.00 price target on shares of Visa in a report on Monday, July 25th. Piper Jaffray Cos. restated an “overweight” rating and issued a $94.00 price target on shares of Visa in a report on Friday, August 5th. Robert W. Baird increased their price target on Visa from $90.00 to $95.00 and gave the stock an “outperform” rating in a report on Tuesday, September 6th. Drexel Hamilton upgraded Visa from a “hold” rating to a “buy” rating in a report on Monday, October 24th. Finally, Jefferies Group restated a “buy” rating on shares of Visa in a report on Tuesday, November 15th. Seven equities research analysts have rated the stock with a hold rating and twenty-seven have issued a buy rating to the stock. The stock presently has a consensus rating of “Buy” and a consensus target price of $90.84.
Shares of Visa (NYSE:V) traded up 1.08% during midday trading on Monday, hitting $81.69. The stock had a trading volume of 8,942,057 shares. The firm’s 50-day moving average is $81.89 and its 200 day moving average is $79.98. The company has a market capitalization of $191.16 billion, a PE ratio of 32.28 and a beta of 1.00. Visa has a one year low of $66.12 and a one year high of $83.96.
Visa (NYSE:V) last issued its quarterly earnings results on Monday, October 24th. The credit-card processor reported $0.78 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.73 by $0.05. Visa had a return on equity of 24.31% and a net margin of 39.72%. The business had revenue of $4.26 billion for the quarter. During the same period last year, the company earned $0.62 EPS. The company’s revenue was up 19.3% compared to the same quarter last year. Equities analysts expect that Visa will post $3.29 earnings per share for the current fiscal year.
The business 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. The ex-dividend date of this dividend is Wednesday, November 16th. This is an increase from Visa’s previous quarterly dividend of $0.14. This represents a $0.66 annualized dividend and a yield of 0.81%. Visa’s payout ratio is presently 26.72%.
In other news, President Ryan Mcinerney sold 18,500 shares of the business’s stock in a transaction dated Tuesday, November 8th. The stock was sold at an average price of $82.92, for a total value of $1,534,020.00. Following the transaction, the president now directly owns 12,548 shares of the company’s stock, valued at approximately $1,040,480.16. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Charles W. Scharf sold 772,912 shares of the business’s stock in a transaction dated Friday, October 28th. The shares were sold at an average price of $82.65, for a total value of $63,881,176.80. Following the completion of the transaction, the insider now directly owns 852,880 shares in the company, valued at $70,490,532. The disclosure for this sale can be found here. Company insiders own 0.17% of the company’s stock.
Several hedge funds and other institutional investors have recently made changes to their positions in V. WealthTrust Arizona LLC increased its position in Visa by 0.9% in the second quarter. WealthTrust Arizona LLC now owns 2,393 shares of the credit-card processor’s stock worth $177,000 after buying an additional 21 shares during the period. Altfest L J & Co. Inc. increased its position in Visa by 0.3% in the third quarter. Altfest L J & Co. Inc. now owns 8,216 shares of the credit-card processor’s stock worth $679,000 after buying an additional 23 shares during the period. Weybosset Research & Management LLC increased its position in Visa by 0.8% in the second quarter. Weybosset Research & Management LLC now owns 3,130 shares of the credit-card processor’s stock worth $232,000 after buying an additional 25 shares during the period. Dumont & Blake Investment Advisors LLC increased its position in Visa by 0.4% in the third quarter. Dumont & Blake Investment Advisors LLC now owns 7,350 shares of the credit-card processor’s stock worth $608,000 after buying an additional 30 shares during the period. Finally, Rehmann Capital Advisory Group increased its position in Visa by 0.3% in the second quarter. Rehmann Capital Advisory Group now owns 12,869 shares of the credit-card processor’s stock worth $954,000 after buying an additional 35 shares during the period. 79.94% of the stock is currently owned by institutional investors.
Visa Company Profile
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.
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