Visa (V) Price Target Increased to $163.00 by Analysts at Bank of America

Visa (NYSE:V) had its price objective upped by Bank of America from $155.00 to $163.00 in a report published on Monday. They currently have a buy rating on the credit-card processor’s stock.

Several other equities analysts have also recently weighed in on V. Zacks Investment Research cut Visa from a buy rating to a hold rating in a report on Wednesday, August 1st. Cantor Fitzgerald lifted their price objective on Visa to $160.00 and gave the company an overweight rating in a report on Thursday, July 26th. SunTrust Banks lifted their price objective on Visa to $170.00 and gave the company a buy rating in a report on Thursday, July 26th. They noted that the move was a valuation call. KeyCorp lifted their price objective on Visa from $145.00 to $160.00 and gave the company an overweight rating in a report on Thursday, July 26th. Finally, Wells Fargo & Co lifted their price objective on Visa from $155.00 to $161.00 and gave the company an outperform rating in a report on Thursday, July 26th. Three research analysts have rated the stock with a hold rating and thirty have given a buy rating to the company’s stock. The stock presently has an average rating of Buy and an average target price of $147.87.

V traded up $0.31 during trading on Monday, hitting $140.52. The stock had a trading volume of 163,949 shares, compared to its average volume of 7,586,982. The company has a market capitalization of $284.25 billion, a PE ratio of 40.30, a price-to-earnings-growth ratio of 1.78 and a beta of 1.06. Visa has a one year low of $100.75 and a one year high of $143.14. The company has a debt-to-equity ratio of 0.60, a current ratio of 1.69 and a quick ratio of 1.69.

Visa (NYSE:V) last released its quarterly earnings results on Wednesday, July 25th. The credit-card processor reported $1.20 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $1.09 by $0.11. The business had revenue of $5.24 billion during the quarter, compared to the consensus estimate of $5.09 billion. Visa had a return on equity of 36.09% and a net margin of 47.91%. The firm’s quarterly revenue was up 14.8% on a year-over-year basis. During the same period in the previous year, the company posted $0.86 EPS. equities analysts anticipate that Visa will post 4.56 earnings per share for the current fiscal year.

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, September 4th. Stockholders of record on Friday, August 17th will be issued a dividend of $0.21 per share. The ex-dividend date is Thursday, August 16th. This represents a $0.84 dividend on an annualized basis and a dividend yield of 0.60%. Visa’s dividend payout ratio (DPR) is currently 24.14%.

In related news, SVP James H. Hoffmeister sold 6,912 shares of the business’s stock in a transaction on Monday, August 6th. The stock was sold at an average price of $140.01, for a total transaction of $967,749.12. Following the sale, the senior vice president now owns 6,912 shares in the company, valued at approximately $967,749.12. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO Vasant M. Prabhu sold 25,064 shares of the business’s stock in a transaction on Wednesday, August 8th. The stock was sold at an average price of $140.56, for a total value of $3,522,995.84. Following the sale, the chief financial officer now owns 58,232 shares in the company, valued at approximately $8,185,089.92. The disclosure for this sale can be found here. 0.14% of the stock is currently owned by insiders.

Hedge funds have recently modified their holdings of the stock. Natixis bought a new stake in shares of Visa in the 2nd quarter valued at about $9,073,000. Vontobel Asset Management Inc. bought a new stake in shares of Visa in the 2nd quarter valued at about $471,495,000. Davy Asset Management Ltd bought a new stake in shares of Visa in the 2nd quarter valued at about $2,495,000. Criterion Capital Management LLC bought a new stake in shares of Visa in the 2nd quarter valued at about $33,094,000. Finally, Valeo Financial Advisors LLC bought a new stake in shares of Visa in the 2nd quarter valued at about $4,764,000. Institutional investors and hedge funds own 80.28% of the company’s stock.

About Visa

Visa Inc operates as a payments technology company worldwide. The company facilitates commerce through the transfer of value and information among consumers, merchants, financial institutions, businesses, strategic partners, and government entities. It operates VisaNet, a processing network that enables authorization, clearing, and settlement of payment transactions; and offers fraud protection for account holders and assured payment for merchants.

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Analyst Recommendations for Visa (NYSE:V)

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