Visa (NYSE:V) Price Target Raised to $340.00

Visa (NYSE:V) had its price target hoisted by Deutsche Bank Aktiengesellschaft from $300.00 to $340.00 in a report released on Wednesday morning, Benzinga reports. Deutsche Bank Aktiengesellschaft currently has a buy rating on the credit-card processor’s stock.

Several other brokerages also recently commented on V. Royal Bank of Canada dropped their target price on Visa from $315.00 to $311.00 and set an “outperform” rating on the stock in a report on Wednesday, July 24th. Morgan Stanley lifted their price objective on Visa from $322.00 to $326.00 and gave the stock an “overweight” rating in a report on Wednesday. Jefferies Financial Group decreased their target price on Visa from $325.00 to $300.00 and set a “buy” rating for the company in a research report on Wednesday, July 24th. Piper Sandler lifted their target price on Visa from $319.00 to $322.00 and gave the stock an “overweight” rating in a research report on Wednesday. Finally, Monness Crespi & Hardt reiterated a “neutral” rating on shares of Visa in a research report on Tuesday, September 24th. Four investment analysts have rated the stock with a hold rating, twenty-four have assigned a buy rating and two have issued a strong buy rating to the company. Based on data from MarketBeat, Visa currently has a consensus rating of “Moderate Buy” and an average price target of $320.70.

Visa Stock Performance

Shares of NYSE:V opened at $290.74 on Wednesday. The company has a market cap of $529.82 billion, a P/E ratio of 29.88, a PEG ratio of 1.94 and a beta of 0.95. The company has a debt-to-equity ratio of 0.55, a quick ratio of 1.37 and a current ratio of 1.28. Visa has a one year low of $239.20 and a one year high of $296.34. The business’s 50-day simple moving average is $281.00 and its 200 day simple moving average is $273.63.

Visa (NYSE:V) last announced its earnings results on Tuesday, October 29th. The credit-card processor reported $2.71 EPS for the quarter, beating the consensus estimate of $2.58 by $0.13. The business had revenue of $9.62 billion for the quarter, compared to the consensus estimate of $9.49 billion. Visa had a return on equity of 53.16% and a net margin of 54.96%. The company’s revenue was up 11.7% on a year-over-year basis. During the same period last year, the business posted $2.33 EPS. On average, sell-side analysts forecast that Visa will post 11.17 earnings per share for the current fiscal year.

Visa Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, December 2nd. Stockholders of record on Tuesday, November 12th will be given a dividend of $0.59 per share. The ex-dividend date of this dividend is Tuesday, November 12th. This is a positive change from Visa’s previous quarterly dividend of $0.52. This represents a $2.36 dividend on an annualized basis and a dividend yield of 0.81%. Visa’s payout ratio is 21.38%.

Insider Activity

In other news, CEO Ryan Mcinerney sold 8,620 shares of the company’s stock in a transaction on Tuesday, September 3rd. The stock was sold at an average price of $276.37, for a total transaction of $2,382,309.40. Following the completion of the sale, the chief executive officer now directly owns 538 shares of the company’s stock, valued at $148,687.06. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. 0.19% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Visa

Hedge funds have recently bought and sold shares of the business. Hilltop National Bank purchased a new stake in Visa in the 1st quarter worth about $1,212,000. Absolute Capital Management LLC acquired a new position in Visa in the 1st quarter worth about $404,000. Davidson Capital Management Inc. increased its position in Visa by 0.5% in the 1st quarter. Davidson Capital Management Inc. now owns 9,275 shares of the credit-card processor’s stock worth $2,588,000 after purchasing an additional 44 shares during the last quarter. Empirical Finance LLC increased its position in Visa by 4.4% in the 1st quarter. Empirical Finance LLC now owns 45,724 shares of the credit-card processor’s stock worth $12,761,000 after purchasing an additional 1,914 shares during the last quarter. Finally, Arjuna Capital increased its position in Visa by 0.8% in the 2nd quarter. Arjuna Capital now owns 11,851 shares of the credit-card processor’s stock worth $3,111,000 after purchasing an additional 96 shares during the last quarter. 82.15% of the stock is owned by hedge funds and other institutional investors.

Visa Company Profile

Visa Inc operates as a payment technology company in the United States and internationally. The company operates VisaNet, a transaction processing network that enables authorization, clearing, and settlement of payment transactions. It also offers credit, debit, and prepaid card products; tap to pay, tokenization, and click to pay services; Visa Direct, a solution that facilitates the delivery of funds to eligible cards, deposit accounts, and digital wallets; Visa B2B Connect, a multilateral business-to-business cross-border payments network; Visa Cross-Border Solution, a cross-border consumer payments solution; and Visa DPS that provides a range of value-added services, including fraud mitigation, dispute management, data analytics, campaign management, a suite of digital solutions, and contact center services.