Visa Inc. (V) Price Target Increased to $106.00 by Analysts at Oppenheimer Holdings, Inc.
Several other research analysts also recently weighed in on the company. Vetr upgraded Visa from a hold rating to a buy rating and set a $93.85 target price on the stock in a research note on Monday, March 20th. Jefferies Group LLC set a $96.00 target price on Visa and gave the company a buy rating in a research note on Saturday, March 25th. Cowen and Company reiterated an outperform rating and issued a $100.00 target price on shares of Visa in a research note on Monday, March 27th. Credit Suisse Group reiterated a hold rating on shares of Visa in a research note on Wednesday, March 29th. Finally, Piper Jaffray Companies reiterated a neutral rating and issued a $45.00 target price on shares of Visa in a research note on Friday, April 14th. Five equities research analysts have rated the stock with a hold rating, twenty-eight have issued a buy rating and one has given a strong buy rating to the company. The stock presently has an average rating of Buy and an average price target of $99.25.
Shares of Visa (NYSE:V) opened at 97.58 on Tuesday. The stock has a market cap of $225.06 billion, a price-to-earnings ratio of 48.69 and a beta of 0.93. Visa has a 12 month low of $75.17 and a 12 month high of $97.75. The company has a 50-day moving average price of $95.12 and a 200-day moving average price of $89.92.
Visa (NYSE:V) last released its quarterly earnings results on Thursday, April 20th. The credit-card processor reported $0.86 EPS for the quarter, topping the consensus estimate of $0.79 by $0.07. The company had revenue of $4.48 billion for the quarter, compared to analyst estimates of $4.29 billion. Visa had a return on equity of 29.14% and a net margin of 28.78%. The firm’s revenue was up 23.5% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.68 earnings per share. On average, analysts expect that Visa will post $3.36 EPS for the current fiscal year.
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Visa announced that its Board of Directors has authorized a stock buyback program on Thursday, April 20th that authorizes the company to repurchase $5.00 billion in shares. This repurchase authorization authorizes the credit-card processor to buy up to 2.4% of its shares through open market purchases. Shares repurchase programs are usually a sign that the company’s board of directors believes its shares are undervalued.
The business also recently announced a quarterly dividend, which will be paid on Tuesday, September 5th. Stockholders of record on Friday, August 18th will be given a $0.165 dividend. This represents a $0.66 annualized dividend and a dividend yield of 0.68%. Visa’s payout ratio is 33.00%.
In other news, Vice Chairman Ellen Richey sold 31,260 shares of the company’s stock in a transaction dated Tuesday, April 25th. The stock was sold at an average price of $91.94, for a total value of $2,874,044.40. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.14% of the stock is owned by corporate insiders.
Several large investors have recently modified their holdings of the company. State Street Corp increased its stake in shares of Visa by 0.9% in the first quarter. State Street Corp now owns 83,471,859 shares of the credit-card processor’s stock valued at $7,418,151,000 after buying an additional 722,878 shares during the last quarter. Bank of New York Mellon Corp increased its stake in shares of Visa by 0.4% in the first quarter. Bank of New York Mellon Corp now owns 18,286,230 shares of the credit-card processor’s stock valued at $1,625,097,000 after buying an additional 73,926 shares during the last quarter. Norges Bank bought a new stake in shares of Visa during the fourth quarter valued at $1,335,803,000. Fisher Asset Management LLC increased its stake in shares of Visa by 3.0% in the second quarter. Fisher Asset Management LLC now owns 15,616,151 shares of the credit-card processor’s stock valued at $1,464,483,000 after buying an additional 452,183 shares during the last quarter. Finally, Loomis Sayles & Co. L P increased its position in shares of Visa by 3.9% in the fourth quarter. Loomis Sayles & Co. L P now owns 14,002,819 shares of the credit-card processor’s stock worth $1,092,500,000 after buying an additional 531,327 shares in the last quarter. 81.92% of the stock is owned by 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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