Visa’s (V) “Outperform” Rating Reaffirmed at Cowen and Company

Cowen and Company reiterated their outperform rating on shares of Visa Inc. (NYSE:V) in a research report released on Saturday, July 22nd. Cowen and Company currently has a $107.00 price objective on the credit-card processor’s stock, up from their previous price objective of $105.00.

Several other equities research analysts also recently commented on the company. Bank of America Corporation upped their target price on Visa from $103.00 to $111.00 and gave the company a buy rating in a report on Friday, July 21st. Nomura upped their target price on Visa from $105.00 to $120.00 and gave the company a buy rating in a report on Friday, July 21st. Instinet upped their target price on Visa from $105.00 to $120.00 and gave the company a buy rating in a report on Friday, July 21st. Loop Capital increased their price objective on Visa from $101.00 to $111.00 and gave the stock a buy rating in a research note on Friday, July 21st. They noted that the move was a valuation call. Finally, Oppenheimer Holdings, Inc. increased their price objective on Visa from $100.00 to $106.00 in a research note on Tuesday, July 18th. Four research analysts have rated the stock with a hold rating, twenty-six have issued a buy rating and two have assigned a strong buy rating to the stock. The company presently has an average rating of Buy and an average target price of $104.56.

Visa (NYSE:V) traded up 0.34% on Friday, reaching $102.51. 5,670,884 shares of the company’s stock were exchanged. Visa has a one year low of $75.17 and a one year high of $103.93. The stock has a market cap of $234.38 billion, a price-to-earnings ratio of 38.12 and a beta of 0.94. The firm has a 50 day moving average of $98.78 and a 200-day moving average of $92.76. Visa also was the target of some unusual options trading on Wednesday. Investors acquired 12,583 put options on the stock. This represents an increase of approximately 163% compared to the average daily volume of 4,785 put options.

Visa (NYSE:V) last announced its earnings results on Thursday, July 20th. The credit-card processor reported $0.86 EPS for the quarter, beating the consensus estimate of $0.81 by $0.05. Visa had a return on equity of 30.95% and a net margin of 36.53%. The business had revenue of $4.57 billion during the quarter, compared to the consensus estimate of $4.36 billion. During the same period in the prior year, the business posted $0.69 earnings per share. Visa’s revenue was up 25.8% compared to the same quarter last year. Equities research analysts forecast that Visa will post $3.43 EPS for the current fiscal year.

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The company also recently announced a quarterly dividend, which will be paid on Tuesday, September 5th. Stockholders of record on Friday, August 18th will be paid a $0.165 dividend. The ex-dividend date of this dividend is Wednesday, August 16th. This represents a $0.66 annualized dividend and a dividend yield of 0.64%. Visa’s dividend payout ratio (DPR) is currently 24.54%.

In other news, EVP Tullier Kelly Mahon sold 29,772 shares of Visa stock in a transaction 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 completion of the sale, the executive vice president now directly owns 17,360 shares of the company’s stock, valued at approximately $1,751,797.60. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. 0.14% of the stock is currently owned by company insiders.

Large investors have recently made changes to their positions in the company. Mercer Capital Advisers Inc. boosted its stake in shares of Visa by 2.2% in the first quarter. Mercer Capital Advisers Inc. now owns 1,167 shares of the credit-card processor’s stock worth $104,000 after buying an additional 25 shares during the period. Motco boosted its stake in shares of Visa by 25.1% in the second quarter. Motco now owns 1,176 shares of the credit-card processor’s stock worth $110,000 after buying an additional 236 shares during the period. BDO Wealth Advisors LLC acquired a new position in Visa during the second quarter valued at $115,000. Mascoma Wealth Management LLC acquired a new position in Visa during the second quarter valued at $122,000. Finally, SpiderRock Advisors LLC raised its position in Visa by 107.1% in the second quarter. SpiderRock Advisors LLC now owns 1,309 shares of the credit-card processor’s stock valued at $124,000 after buying an additional 19,709 shares in the last quarter. 82.29% of the stock is owned by institutional investors and hedge funds.

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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