KeyCorp Reaffirms Buy Rating for Visa Inc. (V)
Other analysts have also recently issued reports about the company. Vetr upgraded Visa from a hold rating to a buy rating and set a $100.12 price objective on the stock in a research note on Tuesday, June 27th. Instinet increased their price objective on Visa from $105.00 to $120.00 and gave the company a buy rating in a research note on Friday, July 21st. Wells Fargo & Company reiterated a market perform rating and issued a $100.00 price objective (up from $87.50) on shares of Visa in a research note on Saturday, July 22nd. Citigroup Inc. reiterated a buy rating and issued a $115.00 price objective (up from $100.00) on shares of Visa in a research note on Monday, July 24th. Finally, Zacks Investment Research cut Visa from a buy rating to a hold rating in a research note on Thursday, July 27th. Two research analysts have rated the stock with a hold rating, thirty-one have given a buy rating and one has given a strong buy rating to the company’s stock. The stock presently has an average rating of Buy and a consensus price target of $111.86.
Visa (V) opened at 107.55 on Wednesday. The stock has a 50 day moving average price of $105.76 and a 200 day moving average price of $98.25. The company has a market capitalization of $245.91 billion, a price-to-earnings ratio of 40.00 and a beta of 0.93. Visa has a 52-week low of $75.17 and a 52-week high of $109.26.
Visa (NYSE:V) last announced its quarterly earnings data on Thursday, July 20th. The credit-card processor reported $0.86 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.81 by $0.05. The business had revenue of $4.57 billion for the quarter, compared to analysts’ expectations of $4.36 billion. Visa had a return on equity of 30.95% and a net margin of 36.53%. The company’s revenue for the quarter was up 25.8% compared to the same quarter last year. During the same period last year, the firm earned $0.69 earnings per share. On average, equities analysts expect that Visa will post $3.43 earnings per share for the current year.
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The business also recently declared a quarterly dividend, which will be paid on Tuesday, December 5th. Investors of record on Friday, November 17th will be issued a dividend of $0.195 per share. The ex-dividend date of this dividend is Thursday, November 16th. This represents a $0.78 dividend on an annualized basis and a dividend yield of 0.73%. This is a positive change from Visa’s previous quarterly dividend of $0.17. Visa’s dividend payout ratio (DPR) is currently 24.54%.
In other Visa news, EVP Tullier Kelly Mahon sold 29,772 shares of Visa stock in a transaction that occurred on Thursday, July 27th. The stock was sold at an average price of $100.91, for a total value of $3,004,292.52. Following the sale, the executive vice president now owns 17,360 shares of the company’s stock, valued at approximately $1,751,797.60. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Mary B. Cranston sold 10,400 shares of Visa stock in a transaction that occurred on Thursday, August 17th. The shares were sold at an average price of $103.32, for a total value of $1,074,528.00. The disclosure for this sale can be found here. Company insiders own 0.14% of the company’s stock.
A number of institutional investors and hedge funds have recently made changes to their positions in the business. Vanguard Group Inc. boosted its holdings in Visa by 2.1% in the 2nd quarter. Vanguard Group Inc. now owns 127,020,401 shares of the credit-card processor’s stock valued at $11,911,973,000 after purchasing an additional 2,628,148 shares in the last quarter. BlackRock Inc. boosted its holdings in Visa by 1.3% in the 2nd quarter. BlackRock Inc. now owns 114,649,667 shares of the credit-card processor’s stock valued at $10,751,846,000 after purchasing an additional 1,440,034 shares in the last quarter. State Street Corp boosted its holdings in Visa by 0.9% in the 1st quarter. State Street Corp now owns 83,471,859 shares of the credit-card processor’s stock valued at $7,418,151,000 after purchasing an additional 722,878 shares in the last quarter. Bank of New York Mellon Corp boosted its holdings in Visa by 0.4% in the 1st quarter. Bank of New York Mellon Corp now owns 18,286,230 shares of the credit-card processor’s stock valued at $1,625,097,000 after purchasing an additional 73,926 shares in the last quarter. Finally, Fisher Asset Management LLC boosted its holdings in Visa by 2.3% in the 3rd quarter. Fisher Asset Management LLC now owns 15,971,471 shares of the credit-card processor’s stock valued at $1,680,838,000 after purchasing an additional 355,320 shares in the last quarter. 81.65% of the stock is currently owned by institutional investors.
Visa Company Profile
Visa Inc (Visa) is a payments technology company that connects consumers, merchants, financial institutions, businesses, strategic partners and government entities to electronic payments. The Company operates through payment services segment. The Company enables global commerce through the transfer of value and information among the participants.
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