Visa’s (V) “Buy” Rating Reaffirmed at Sanford C. Bernstein
Several other analysts have also issued reports on V. Vetr lowered shares of Visa from a buy rating to a hold rating and set a $84.76 target price for the company. in a research report on Monday, November 21st. Drexel Hamilton upgraded shares of Visa from a hold rating to a buy rating in a research report on Monday, October 24th. Stifel Nicolaus cut their target price on shares of Visa from $94.00 to $93.00 and set a buy rating for the company in a research report on Tuesday, October 25th. Keefe, Bruyette & Woods restated an outperform rating and set a $99.00 target price on shares of Visa in a research report on Friday, October 14th. Finally, Barclays PLC boosted their target price on shares of Visa from $88.00 to $90.00 and gave the company an overweight rating in a research report on Monday, September 12th. Seven investment analysts have rated the stock with a hold rating and twenty-seven have assigned a buy rating to the company’s stock. Visa has an average rating of Buy and a consensus target price of $90.84.
Shares of Visa (NYSE:V) opened at 79.08 on Monday. The firm has a 50-day moving average of $81.48 and a 200 day moving average of $80.04. Visa has a 1-year low of $66.12 and a 1-year high of $83.96. The stock has a market capitalization of $185.05 billion, a PE ratio of 31.24 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 EPS for the quarter, topping analysts’ consensus estimates of $0.73 by $0.05. Visa had a net margin of 39.72% and a return on equity of 24.31%. The firm earned $4.26 billion during the quarter. During the same quarter in the prior year, the firm earned $0.62 earnings per share. The business’s revenue was up 19.3% compared to the same quarter last year. Analysts predict that Visa will post $3.29 EPS for the current year.
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The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 6th. Investors of record on Friday, November 18th will be paid a $0.165 dividend. The ex-dividend date of this dividend is Wednesday, November 16th. This is a positive change from Visa’s previous quarterly dividend of $0.14. This represents a $0.66 dividend on an annualized basis and a yield of 0.82%. Visa’s dividend payout ratio is 26.72%.
In other Visa news, insider Charles W. Scharf sold 772,912 shares of the stock in a transaction dated Friday, October 28th. The shares were sold at an average price of $82.65, for a total transaction of $63,881,176.80. Following the completion of the sale, the insider now directly owns 852,880 shares of the company’s stock, valued at $70,490,532. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, President Ryan Mcinerney sold 18,500 shares of the stock in a transaction dated Tuesday, November 8th. The shares were sold at an average price of $82.92, for a total transaction of $1,534,020.00. Following the sale, the president now directly owns 12,548 shares of the company’s stock, valued at $1,040,480.16. The disclosure for this sale can be found here. 0.17% of the stock is currently owned by corporate insiders.
Several hedge funds have recently added to or reduced their stakes in the stock. First Republic Investment Management Inc. raised its stake in Visa by 5.8% in the first quarter. First Republic Investment Management Inc. now owns 762,294 shares of the credit-card processor’s stock valued at $58,299,000 after buying an additional 41,585 shares during the last quarter. Lebenthal Asset Management LLC bought a new position in shares of Visa during the first quarter valued at approximately $668,000. Origin Asset Management LLP raised its position in shares of Visa by 21.4% in the first quarter. Origin Asset Management LLP now owns 110,462 shares of the credit-card processor’s stock valued at $8,448,000 after buying an additional 19,486 shares during the last quarter. Boothbay Fund Management LLC bought a new position in shares of Visa during the first quarter valued at approximately $284,000. Finally, SevenBridge Financial Group LLC bought a new position in shares of Visa during the first quarter valued at approximately $1,116,000. 79.52% of the stock is owned by institutional investors and hedge funds.
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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