Loop Capital initiated coverage on shares of Visa Inc. (NYSE:V) in a research report released on Tuesday, The Fly reports. The firm issued a buy rating on the credit-card processor’s stock.
Several other brokerages also recently commented on V. Jefferies Group LLC reaffirmed a buy rating and set a $93.00 target price on shares of Visa in a report on Friday, October 21st. Vetr downgraded Visa from a buy rating to a hold rating and set a $83.18 price objective for the company. in a research note on Wednesday, January 4th. Wedbush reissued a neutral rating and issued a $77.00 price objective on shares of Visa in a research note on Friday, October 21st. Zacks Investment Research downgraded Visa from a buy rating to a hold rating in a research note on Friday, October 21st. Finally, Sanford C. Bernstein reissued a buy rating and issued a $97.00 price objective on shares of Visa in a research note on Monday, November 28th. Two equities research analysts have rated the stock with a hold rating, thirty have given a buy rating and one has given a strong buy rating to the stock. The company has a consensus rating of Buy and an average target price of $93.35.
Visa (NYSE:V) traded up 0.47% during trading on Tuesday, reaching $86.85. 5,934,865 shares of the company were exchanged. Visa has a 52-week low of $69.12 and a 52-week high of $86.97. The firm’s 50 day moving average is $82.36 and its 200 day moving average is $81.18. The stock has a market capitalization of $201.85 billion, a PE ratio of 33.66 and a beta of 1.00.
Visa (NYSE:V) last announced its earnings results on Thursday, February 2nd. The credit-card processor reported $0.86 EPS for the quarter, beating the consensus estimate of $0.78 by $0.08. Visa had a return on equity of 26.48% and a net margin of 38.30%. The business earned $4.46 billion during the quarter, compared to the consensus estimate of $4.29 billion. During the same period in the prior year, the business posted $0.69 earnings per share. Visa’s revenue was up 25.1% compared to the same quarter last year. Analysts expect that Visa will post $3.32 EPS for the current year.
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The business also recently announced a quarterly dividend, which will be paid on Tuesday, March 7th. Investors of record on Friday, February 17th will be given a dividend of $0.165 per share. The ex-dividend date is Wednesday, February 15th. This represents a $0.66 annualized dividend and a dividend yield of 0.76%. Visa’s dividend payout ratio (DPR) is presently 26.09%.
In related news, SVP James H. Hoffmeister sold 11,139 shares of the firm’s stock in a transaction on Tuesday, February 7th. The stock was sold at an average price of $85.95, for a total transaction of $957,397.05. Following the completion of the sale, the senior vice president now directly owns 6,390 shares of the company’s stock, valued at approximately $549,220.50. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP William M. Sheedy sold 125,372 shares of the firm’s stock in a transaction on Monday, February 6th. The shares were sold at an average price of $85.74, for a total value of $10,749,395.28. Following the sale, the executive vice president now directly owns 365,769 shares of the company’s stock, valued at $31,361,034.06. The disclosure for this sale can be found here. 0.14% of the stock is owned by company insiders.
A number of large investors have recently added to or reduced their stakes in the stock. Viking Global Investors LP raised its position in shares of Visa by 739.1% in the fourth quarter. Viking Global Investors LP now owns 4,846,485 shares of the credit-card processor’s stock valued at $378,123,000 after buying an additional 4,268,933 shares in the last quarter. Lone Pine Capital LLC raised its position in shares of Visa by 180.3% in the fourth quarter. Lone Pine Capital LLC now owns 6,551,477 shares of the credit-card processor’s stock valued at $511,146,000 after buying an additional 4,213,802 shares in the last quarter. Russell Investments Group Ltd. bought a new position in shares of Visa during the fourth quarter valued at approximately $312,745,000. Asset Management One Co. Ltd. raised its position in shares of Visa by 719.7% in the fourth quarter. Asset Management One Co. Ltd. now owns 3,445,162 shares of the credit-card processor’s stock valued at $268,897,000 after buying an additional 3,024,860 shares in the last quarter. Finally, Renaissance Technologies LLC raised its position in shares of Visa by 441.9% in the fourth quarter. Renaissance Technologies LLC now owns 2,594,500 shares of the credit-card processor’s stock valued at $202,423,000 after buying an additional 2,115,700 shares in the last quarter. 80.14% of the stock is owned by hedge funds and other institutional investors.
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.
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