Visa’s (V) Outperform Rating Reiterated at Macquarie

by · The Cerbat Gem

Macquarie reiterated their outperform rating on shares of Visa (NYSE:V – Free Report) in a report released on Friday morning, Benzinga reports. Macquarie currently has a $300.00 target price on the credit-card processor’s stock.

A number of other research firms also recently commented on V. Compass Point began coverage on Visa in a research report on Wednesday, September 4th. They set a buy rating and a $319.00 target price for the company. Royal Bank of Canada lowered their price objective on shares of Visa from $315.00 to $311.00 and set an outperform rating for the company in a research report on Wednesday, July 24th. TD Cowen reduced their target price on shares of Visa from $320.00 to $318.00 and set a buy rating on the stock in a report on Wednesday, July 24th. The Goldman Sachs Group reaffirmed a buy rating and issued a $317.00 price target on shares of Visa in a report on Thursday, September 12th. Finally, BNP Paribas raised Visa from a neutral rating to an outperform rating and set a $325.00 price objective on the stock in a research note on Tuesday, September 3rd. Six analysts have rated the stock with a hold rating, twenty-three have assigned a buy rating and two have given a strong buy rating to the stock. According to data from MarketBeat, the stock has an average rating of Moderate Buy and an average price target of $310.22.

Check Out Our Latest Report on Visa

Visa Price Performance

Shares of Visa stock opened at $274.77 on Friday. The company has a market capitalization of $500.72 billion, a price-to-earnings ratio of 30.70, a PEG ratio of 1.94 and a beta of 0.96. The company has a quick ratio of 1.37, a current ratio of 1.37 and a debt-to-equity ratio of 0.54. The stock’s 50-day simple moving average is $271.45 and its 200-day simple moving average is $273.11. Visa has a 52 week low of $227.78 and a 52 week high of $293.07.

Visa (NYSE:V – Get Free Report) last released its quarterly earnings data on Tuesday, July 23rd. The credit-card processor reported $2.42 earnings per share (EPS) for the quarter, meeting the consensus estimate of $2.42. Visa had a net margin of 54.72% and a return on equity of 51.94%. The firm had revenue of $8.90 billion for the quarter, compared to analysts’ expectations of $8.92 billion. During the same quarter last year, the business posted $2.16 earnings per share. The company’s revenue for the quarter was up 9.6% compared to the same quarter last year. As a group, analysts expect that Visa will post 9.92 earnings per share for the current fiscal year.

Visa Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, September 3rd. Stockholders of record on Friday, August 9th were given a $0.52 dividend. This represents a $2.08 dividend on an annualized basis and a dividend yield of 0.76%. The ex-dividend date of this dividend was Friday, August 9th. Visa’s payout ratio is currently 23.24%.

Insider Buying and Selling at Visa

In related news, CEO Ryan Mcinerney sold 8,620 shares of the business’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 transaction, the chief executive officer now directly owns 538 shares in the company, valued at approximately $148,687.06. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. 0.19% of the stock is owned by insiders.

Institutional Trading of Visa

A number of institutional investors and hedge funds have recently added to or reduced their stakes in V. National Bank of Canada FI increased its stake in shares of Visa by 787.1% in the first quarter. National Bank of Canada FI now owns 4,619,881 shares of the credit-card processor’s stock worth $1,296,820,000 after acquiring an additional 4,099,122 shares during the period. Swedbank AB purchased a new stake in Visa in the first quarter valued at $511,321,000. GQG Partners LLC grew its position in Visa by 40.1% during the 1st quarter. GQG Partners LLC now owns 5,990,634 shares of the credit-card processor’s stock worth $1,671,866,000 after purchasing an additional 1,715,686 shares during the period. Wulff Hansen & CO. raised its stake in shares of Visa by 26,951.9% during the 2nd quarter. Wulff Hansen & CO. now owns 1,587,944 shares of the credit-card processor’s stock valued at $416,788,000 after buying an additional 1,582,074 shares during the last quarter. Finally, Public Employees Retirement Association of Colorado lifted its holdings in shares of Visa by 14,306.3% in the 4th quarter. Public Employees Retirement Association of Colorado now owns 1,500,270 shares of the credit-card processor’s stock valued at $390,595,000 after buying an additional 1,489,856 shares during the period. Institutional investors and hedge funds own 82.15% of the company’s stock.

About Visa

(Get Free Report)

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.

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