Visa Inc. (V) Given “Buy” Rating at Mizuho

Visa Inc. (NYSE:V)‘s stock had its “buy” rating reissued by Mizuho in a report released on Thursday. They currently have a $115.00 target price on the credit-card processor’s stock. Mizuho’s target price would indicate a potential upside of 6.05% from the stock’s previous close.

A number of other brokerages have also recently issued reports on V. Sandler O’Neill reissued a “hold” rating on shares of Visa in a report on Wednesday, June 21st. Cowen and Company reissued an “outperform” rating and set a $105.00 price objective on shares of Visa in a report on Friday, June 23rd. Jefferies Group LLC reissued a “buy” rating and set a $104.00 price objective on shares of Visa in a report on Sunday, June 25th. Vetr raised Visa from a “hold” rating to a “buy” rating and set a $100.12 price objective for the company in a report on Tuesday, June 27th. Finally, BidaskClub cut Visa from a “buy” rating to a “hold” rating in a report on Wednesday, July 5th. Two equities research analysts have rated the stock with a hold rating, thirty-one have issued a buy rating and one has assigned a strong buy rating to the company. Visa currently has a consensus rating of “Buy” and an average target price of $109.40.

Shares of Visa (NYSE V) traded down 0.31% during mid-day trading on Thursday, hitting $108.10. 5,669,718 shares of the company’s stock were exchanged. The company has a market capitalization of $247.16 billion, a price-to-earnings ratio of 40.20 and a beta of 0.93. Visa has a 52 week low of $75.17 and a 52 week high of $108.71. The firm has a 50 day moving average price of $104.89 and a 200-day moving average price of $97.37.

Visa (NYSE:V) last posted its quarterly earnings results on Thursday, July 20th. The credit-card processor reported $0.86 earnings per share for the quarter, topping the Zacks’ consensus estimate 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 company earned $0.69 earnings per share. The business’s revenue was up 25.8% compared to the same quarter last year. On average, equities analysts anticipate that Visa will post $3.42 EPS for the current year.

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In related news, EVP Tullier Kelly Mahon sold 29,772 shares of the business’s stock in a transaction that occurred 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 transaction, the executive vice president now directly owns 17,360 shares in the company, valued at approximately $1,751,797.60. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Mary B. Cranston sold 10,400 shares of the business’s stock in a transaction that occurred on Thursday, August 17th. The shares were sold at an average price of $103.32, for a total value of $1,074,528.00. The disclosure for this sale can be found here. 0.14% of the stock is currently owned by insiders.

Several institutional investors and hedge funds have recently modified their holdings of V. Waldron LP grew its position in shares of Visa by 61.6% in the 1st quarter. Waldron LP now owns 8,951 shares of the credit-card processor’s stock valued at $791,000 after purchasing an additional 3,412 shares during the period. Progressive Investment Management Corp grew its position in shares of Visa by 358.8% in the 1st quarter. Progressive Investment Management Corp now owns 42,836 shares of the credit-card processor’s stock valued at $3,807,000 after purchasing an additional 33,500 shares during the period. Dock Street Asset Management Inc. grew its position in shares of Visa by 0.8% in the 1st quarter. Dock Street Asset Management Inc. now owns 118,765 shares of the credit-card processor’s stock valued at $10,555,000 after purchasing an additional 898 shares during the period. NBT Bank N A NY grew its position in shares of Visa by 18.9% in the 1st quarter. NBT Bank N A NY now owns 3,212 shares of the credit-card processor’s stock valued at $285,000 after purchasing an additional 510 shares during the period. Finally, Chickasaw Capital Management LLC grew its position in shares of Visa by 13.4% in the 1st quarter. Chickasaw Capital Management LLC now owns 55,480 shares of the credit-card processor’s stock valued at $4,931,000 after purchasing an additional 6,560 shares during the period. Institutional investors and hedge funds own 81.68% 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.

Analyst Recommendations for Visa (NYSE:V)

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