Piper Jaffray Companies reaffirmed their neutral rating on shares of Visa Inc (NYSE:V) in a report published on Friday, April 14th. Piper Jaffray Companies currently has a $45.00 price target on the credit-card processor’s stock.
Several other analysts also recently weighed in on the stock. Vetr upgraded shares of Visa from a hold rating to a buy rating and set a $85.82 price objective on the stock in a research report on Thursday, February 2nd. Stifel Nicolaus dropped their price target on shares of Visa from $105.00 to $93.00 and set a buy rating on the stock in a research report on Friday, February 3rd. Sanford C. Bernstein restated an outperform rating and set a $104.00 price target on shares of Visa in a research report on Saturday, March 11th. Morgan Stanley reaffirmed an overweight rating on shares of Visa in a research note on Wednesday, March 8th. Finally, Deutsche Bank AG reissued a buy rating and issued a $103.00 target price on shares of Visa in a research report on Tuesday, March 14th. Three analysts have rated the stock with a hold rating, twenty-seven have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Visa has an average rating of Buy and a consensus target price of $95.09.
Visa (NYSE:V) last issued its quarterly earnings data on Thursday, April 20th. The credit-card processor reported $0.86 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.79 by $0.07. The firm had revenue of $4.48 billion for the quarter, compared to the consensus estimate of $4.29 billion. Visa had a net margin of 38.30% and a return on equity of 26.48%. Visa’s quarterly revenue was up 23.5% compared to the same quarter last year. During the same period last year, the firm posted $0.68 EPS.
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The firm also recently announced a quarterly dividend, which will be paid on Tuesday, June 6th. Shareholders of record on Friday, May 19th will be issued a $0.165 dividend. This represents a $0.66 dividend on an annualized basis and a dividend yield of 0.71%. The ex-dividend date of this dividend is Wednesday, May 17th. Visa’s payout ratio is 26.09%.
In other Visa news, Vice Chairman Ellen Richey sold 31,260 shares of Visa stock in a transaction on Tuesday, April 25th. The stock was sold at an average price of $91.94, for a total value of $2,874,044.40. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. 0.14% of the stock is currently owned by company insiders.
A number of institutional investors have recently added to or reduced their stakes in V. BlackRock Inc. boosted its stake in shares of Visa by 2,635.2% in the first quarter. BlackRock Inc. now owns 113,209,633 shares of the credit-card processor’s stock valued at $10,060,940,000 after buying an additional 109,070,598 shares during the last quarter. Norges Bank purchased a new position in shares of Visa during the fourth quarter valued at about $1,335,803,000. Viking Global Investors LP boosted its position in shares of Visa by 739.1% in the fourth quarter. Viking Global Investors LP now owns 4,846,485 shares of the credit-card processor’s stock valued at $378,123,000 after buying an additional 4,268,933 shares during the period. Lone Pine Capital LLC raised its stake in Visa by 180.3% in the fourth quarter. Lone Pine Capital LLC now owns 6,551,477 shares of the credit-card processor’s stock worth $511,146,000 after buying an additional 4,213,802 shares in the last quarter. Finally, Russell Investments Group Ltd. bought a new stake in Visa during the fourth quarter worth $312,745,000. Institutional investors own 80.14% of the company’s stock.
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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