Visa (NYSE:V) Price Target Raised to $229.00

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Visa (NYSE:V) had its price target hoisted by JPMorgan Chase & Co. from $186.00 to $229.00 in a research note issued to investors on Monday morning, The Fly reports. JPMorgan Chase & Co. currently has an overweight rating on the credit-card processor’s stock.

Several other brokerages have also issued reports on V. Royal Bank of Canada lifted their price target on shares of Visa from $195.00 to $212.00 and gave the company an outperform rating in a research note on Friday, May 1st. UBS Group lowered their price target on shares of Visa from $190.00 to $188.00 and set a neutral rating on the stock in a research note on Friday, May 1st. SunTrust Banks lifted their price target on shares of Visa from $200.00 to $220.00 and gave the company a buy rating in a research note on Tuesday, June 2nd. Citigroup lifted their price target on shares of Visa from $205.00 to $223.00 and gave the company a buy rating in a research note on Wednesday, June 17th. Finally, Raymond James lifted their price objective on shares of Visa from $204.00 to $217.00 and gave the company an outperform rating in a research report on Wednesday, July 29th. Seven investment analysts have rated the stock with a hold rating and twenty-two have assigned a buy rating to the stock. The company currently has a consensus rating of Buy and a consensus price target of $210.07.

Shares of NYSE:V opened at $204.15 on Monday. Visa has a 12 month low of $133.93 and a 12 month high of $214.17. The company has a quick ratio of 1.55, a current ratio of 1.55 and a debt-to-equity ratio of 0.59. The company’s fifty day simple moving average is $195.47 and its 200 day simple moving average is $186.46. The firm has a market cap of $386.55 billion, a price-to-earnings ratio of 38.89, a PEG ratio of 3.04 and a beta of 0.88.

Visa (NYSE:V) last issued its quarterly earnings data on Tuesday, July 28th. The credit-card processor reported $1.07 EPS for the quarter, topping analysts’ consensus estimates of $1.02 by $0.05. Visa had a net margin of 51.37% and a return on equity of 40.65%. The business had revenue of $4.84 billion for the quarter, compared to analyst estimates of $4.85 billion. During the same period last year, the business posted $1.37 earnings per share. The firm’s quarterly revenue was down 18.6% on a year-over-year basis. Research analysts expect that Visa will post 5 earnings per share for the current fiscal year.

The company also recently announced a quarterly dividend, which will be paid on Tuesday, September 1st. Stockholders of record on Friday, August 14th will be given a $0.30 dividend. This represents a $1.20 annualized dividend and a dividend yield of 0.59%. The ex-dividend date is Thursday, August 13th. Visa’s payout ratio is presently 22.06%.

In related news, President Ryan Mcinerney sold 26,150 shares of the company’s stock in a transaction that occurred on Wednesday, May 27th. The shares were sold at an average price of $191.87, for a total transaction of $5,017,400.50. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, CEO Alfred F. Kelly, Jr. sold 7,000 shares of the company’s stock in a transaction that occurred on Tuesday, June 30th. The stock was sold at an average price of $191.49, for a total transaction of $1,340,430.00. Following the transaction, the chief executive officer now owns 133,090 shares of the company’s stock, valued at $25,485,404.10. The disclosure for this sale can be found here. Insiders sold a total of 57,479 shares of company stock valued at $11,145,291 over the last 90 days. Corporate insiders own 0.19% of the company’s stock.

A number of hedge funds have recently added to or reduced their stakes in V. Financial Insights Inc. grew its holdings in Visa by 37.7% during the 2nd quarter. Financial Insights Inc. now owns 2,053 shares of the credit-card processor’s stock worth $269,000 after acquiring an additional 562 shares during the last quarter. Rockbridge Investment Management LCC bought a new stake in Visa during the 2nd quarter worth approximately $228,000. Ninety One North America Inc. grew its holdings in Visa by 14.4% during the 2nd quarter. Ninety One North America Inc. now owns 82,955 shares of the credit-card processor’s stock worth $16,024,000 after acquiring an additional 10,420 shares during the last quarter. RMR Wealth Builders bought a new stake in Visa during the 2nd quarter worth approximately $1,129,000. Finally, Orion Portfolio Solutions LLC grew its holdings in Visa by 14.3% during the 2nd quarter. Orion Portfolio Solutions LLC now owns 6,951 shares of the credit-card processor’s stock worth $1,343,000 after acquiring an additional 867 shares during the last quarter. Institutional investors and hedge funds own 81.41% of the company’s stock.

Visa Company Profile

Visa Inc operates as a payments technology company worldwide. The company facilitates commerce through the transfer of value and information among consumers, merchants, financial institutions, businesses, strategic partners, and government entities. It operates VisaNet, a processing network that enables authorization, clearing, and settlement of payment transactions; and offers fraud protection for account holders and assured payment for merchants.

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