Visa Inc. (NYSE:V)‘s stock had its “overweight” rating reaffirmed by research analysts at Morgan Stanley in a research report issued on Saturday, July 22nd. They presently have a $114.00 target price on the credit-card processor’s stock, up from their previous target price of $107.00. Morgan Stanley’s price target would suggest a potential upside of 13.90% from the company’s current price.
A number of other research analysts also recently issued reports on V. Jefferies Group LLC set a $96.00 price objective on shares of Visa and gave the stock a “buy” rating in a research report on Saturday, March 25th. Cowen and Company reaffirmed an “outperform” rating and issued a $100.00 price objective on shares of Visa in a research report on Monday, March 27th. Credit Suisse Group reaffirmed a “hold” rating on shares of Visa in a research report on Wednesday, March 29th. Piper Jaffray Companies reiterated a “neutral” rating and issued a $45.00 target price on shares of Visa in a research note on Friday, April 14th. Finally, Royal Bank Of Canada lifted their target price on shares of Visa from $97.00 to $98.00 and gave the stock an “outperform” rating in a research note on Friday, April 21st. Four analysts have rated the stock with a hold rating, twenty-six have assigned a buy rating and two have assigned a strong buy rating to the stock. The company has an average rating of “Buy” and a consensus target price of $104.56.
Visa (NYSE:V) opened at 100.09 on Friday. The stock has a 50 day moving average of $97.74 and a 200 day moving average of $92.09. Visa has a 52 week low of $75.17 and a 52 week high of $101.72. The company has a market cap of $228.85 billion, a P/E ratio of 37.22 and a beta of 0.94.
Visa (NYSE:V) last issued its quarterly earnings data on Thursday, July 20th. The credit-card processor reported $0.86 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.81 by $0.05. Visa had a net margin of 36.53% and a return on equity of 30.95%. The firm had revenue of $4.57 billion for the quarter, compared to the consensus estimate of $4.36 billion. During the same quarter in the previous year, the firm earned $0.69 EPS. The company’s quarterly revenue was up 25.8% compared to the same quarter last year. On average, analysts expect that Visa will post $3.43 earnings per share for the current year.
Visa announced that its Board of Directors has approved a stock repurchase program on Thursday, April 20th that authorizes the company to repurchase $5.00 billion in shares. This repurchase authorization authorizes the credit-card processor to buy up to 2.4% of its shares through open market purchases. Shares repurchase programs are often an indication that the company’s board believes its shares are undervalued.
In related news, EVP Tullier Kelly Mahon sold 29,772 shares of the business’s stock in a transaction on Thursday, July 27th. The shares were sold at an average price of $100.91, for a total value of $3,004,292.52. Following the completion of 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 legal filing with the SEC, which is available through this hyperlink. 0.14% of the stock is currently owned by insiders.
Several large investors have recently added to or reduced their stakes in the company. Norges Bank acquired a new stake in Visa during the fourth quarter worth about $1,335,803,000. Viking Global Investors LP raised its stake in 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 worth $378,123,000 after buying an additional 4,268,933 shares during the last quarter. Lone Pine Capital LLC boosted its position in shares of 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 valued at $511,146,000 after buying an additional 4,213,802 shares during the last quarter. Clearbridge Investments LLC boosted its position in shares of Visa by 41.4% in the first quarter. Clearbridge Investments LLC now owns 9,145,672 shares of the credit-card processor’s stock valued at $812,776,000 after buying an additional 2,677,533 shares during the last quarter. Finally, Vanguard Group Inc. boosted its position in shares of Visa by 2.1% in the second quarter. Vanguard Group Inc. now owns 127,020,401 shares of the credit-card processor’s stock valued at $11,911,973,000 after buying an additional 2,628,148 shares during the last quarter. 82.46% of the stock is owned by institutional investors and hedge funds.
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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