Visa (NYSE:V) PT Lowered to $318.00

Visa (NYSE:V) had its price target decreased by analysts at TD Cowen from $320.00 to $318.00 in a research report issued on Wednesday, Benzinga reports. The firm currently has a “buy” rating on the credit-card processor’s stock. TD Cowen’s price target would indicate a potential upside of 25.28% from the stock’s current price.

Other equities analysts have also issued research reports about the company. Oppenheimer boosted their price objective on Visa from $297.00 to $299.00 and gave the stock an “outperform” rating in a research note on Wednesday, April 24th. Morgan Stanley lowered their price target on Visa from $326.00 to $322.00 and set an “overweight” rating for the company in a report on Wednesday. JPMorgan Chase & Co. lowered their price target on Visa from $302.00 to $300.00 and set an “overweight” rating for the company in a report on Thursday, July 18th. Redburn Atlantic reiterated a “neutral” rating and set a $307.00 price target on shares of Visa in a report on Wednesday, March 27th. Finally, William Blair reiterated an “outperform” rating on shares of Visa in a report on Wednesday, April 24th. Six equities research analysts have rated the stock with a hold rating, twenty-one have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, Visa presently has a consensus rating of “Moderate Buy” and an average target price of $304.77.

Visa Stock Performance

Shares of NYSE:V opened at $253.84 on Wednesday. The business’s 50 day moving average price is $270.45 and its 200-day moving average price is $274.25. The firm has a market capitalization of $464.26 billion, a PE ratio of 28.36, a P/E/G ratio of 1.77 and a beta of 0.95. The company has a debt-to-equity ratio of 0.54, a current ratio of 1.37 and a quick ratio of 1.40. Visa has a 1 year low of $227.68 and a 1 year high of $290.96.

Visa (NYSE:V) last released its quarterly earnings data on Tuesday, July 23rd. The credit-card processor reported $2.42 earnings per share for the quarter, hitting analysts’ consensus estimates of $2.42. The company had revenue of $8.90 billion for the quarter, compared to analyst estimates of $8.92 billion. Visa had a return on equity of 51.94% and a net margin of 54.72%. The firm’s revenue for the quarter was up 9.6% compared to the same quarter last year. During the same quarter in the previous year, the company posted $2.16 earnings per share. As a group, equities research analysts expect that Visa will post 9.94 earnings per share for the current fiscal year.

Insider Buying and Selling at Visa

In other Visa news, insider Paul D. Fabara sold 25,293 shares of the stock in a transaction dated Wednesday, May 15th. The stock was sold at an average price of $277.15, for a total value of $7,009,954.95. Following the sale, the insider now owns 17,894 shares of the company’s stock, valued at approximately $4,959,322.10. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. 0.19% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Visa

Several hedge funds and other institutional investors have recently made changes to their positions in the business. Vanguard Group Inc. raised its position in shares of Visa by 0.6% during the 1st quarter. Vanguard Group Inc. now owns 142,202,830 shares of the credit-card processor’s stock worth $39,685,966,000 after acquiring an additional 788,908 shares in the last quarter. Capital International Investors raised its position in shares of Visa by 2.7% during the 1st quarter. Capital International Investors now owns 23,570,391 shares of the credit-card processor’s stock worth $6,578,025,000 after acquiring an additional 626,618 shares in the last quarter. Capital World Investors raised its position in shares of Visa by 5.4% during the 1st quarter. Capital World Investors now owns 18,863,796 shares of the credit-card processor’s stock worth $5,264,508,000 after acquiring an additional 968,008 shares in the last quarter. Norges Bank acquired a new stake in shares of Visa during the 4th quarter worth about $3,895,015,000. Finally, Jennison Associates LLC raised its position in shares of Visa by 0.7% during the 4th quarter. Jennison Associates LLC now owns 11,824,113 shares of the credit-card processor’s stock worth $3,078,408,000 after acquiring an additional 85,123 shares in the last quarter. Institutional investors and hedge funds own 82.15% of the company’s stock.

About Visa

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.