Robert W. Baird Raises Visa (NYSE:V) Price Target to $270.00

Visa (NYSE:VGet Rating) had its target price upped by Robert W. Baird from $250.00 to $270.00 in a research note published on Thursday morning, The Fly reports. The firm currently has an outperform rating on the credit-card processor’s stock.

A number of other research analysts have also recently commented on V. Wolfe Research raised their price target on Visa from $240.00 to $255.00 in a research report on Thursday, January 5th. Keefe, Bruyette & Woods decreased their target price on Visa from $275.00 to $246.00 in a research report on Monday, October 10th. Truist Financial decreased their target price on Visa from $250.00 to $220.00 and set a buy rating on the stock in a research report on Thursday, October 13th. Wells Fargo & Company lifted their target price on Visa from $225.00 to $250.00 and gave the company an overweight rating in a research report on Friday, December 2nd. Finally, BMO Capital Markets decreased their target price on Visa from $257.00 to $241.00 and set an outperform rating on the stock in a research report on Thursday, October 27th. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and twenty-one have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of Moderate Buy and a consensus price target of $255.07.

Visa Trading Up 1.8 %

Shares of Visa stock opened at $224.31 on Thursday. The business has a fifty day simple moving average of $212.30 and a two-hundred day simple moving average of $204.33. Visa has a 1 year low of $174.60 and a 1 year high of $235.85. The company has a market capitalization of $422.49 billion, a price-to-earnings ratio of 32.09, a P/E/G ratio of 1.80 and a beta of 0.95. The company has a debt-to-equity ratio of 0.61, a current ratio of 1.45 and a quick ratio of 1.45.

Visa (NYSE:VGet Rating) last posted its quarterly earnings data on Tuesday, October 25th. The credit-card processor reported $1.93 earnings per share for the quarter, topping the consensus estimate of $1.86 by $0.07. The firm had revenue of $7.79 billion for the quarter, compared to analysts’ expectations of $7.55 billion. Visa had a return on equity of 48.56% and a net margin of 51.03%. Research analysts forecast that Visa will post 8.28 EPS for the current year.

Visa declared that its Board of Directors has approved a share repurchase plan on Tuesday, October 25th that permits the company to buyback $12.00 billion in outstanding shares. This buyback authorization permits the credit-card processor to reacquire up to 3.1% of its shares through open market purchases. Shares buyback plans are often a sign that the company’s board of directors believes its shares are undervalued.

Visa Cuts Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, January 3rd. Shareholders of record on Friday, December 16th were given a $0.395 dividend. The ex-dividend date was Thursday, December 15th. This represents a $1.58 annualized dividend and a yield of 0.70%. Visa’s dividend payout ratio is currently 25.75%.

Insider Activity

In other news, insider Rajat Taneja sold 25,627 shares of the company’s stock in a transaction on Friday, December 2nd. The stock was sold at an average price of $216.67, for a total transaction of $5,552,602.09. Following the transaction, the insider now owns 232,112 shares of the company’s stock, valued at approximately $50,291,707.04. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. In related news, President Ryan Mcinerney sold 58,197 shares of the stock in a transaction dated Monday, January 9th. The stock was sold at an average price of $62.47, for a total transaction of $3,635,566.59. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, insider Rajat Taneja sold 25,627 shares of the stock in a transaction dated Friday, December 2nd. The stock was sold at an average price of $216.67, for a total value of $5,552,602.09. Following the sale, the insider now directly owns 232,112 shares in the company, valued at approximately $50,291,707.04. The disclosure for this sale can be found here. Insiders own 0.21% of the company’s stock.

Hedge Funds Weigh In On Visa

A number of institutional investors have recently added to or reduced their stakes in the business. McClarren Financial Advisors Inc. bought a new position in shares of Visa during the 3rd quarter valued at about $26,000. Global Wealth Strategies & Associates purchased a new stake in Visa during the 4th quarter valued at about $26,000. Cowa LLC purchased a new stake in Visa during the 3rd quarter valued at about $29,000. JDM Financial Group LLC purchased a new stake in Visa during the 4th quarter valued at about $29,000. Finally, Aurora Private Wealth Inc. boosted its holdings in Visa by 7,648.7% during the 2nd quarter. Aurora Private Wealth Inc. now owns 79,502 shares of the credit-card processor’s stock valued at $31,000 after acquiring an additional 78,476 shares during the period. 81.87% of the stock is currently owned by institutional investors.

Visa Company Profile

(Get Rating)

Visa, Inc engages in the provision of digital payment services. It also facilitates global commerce through the transfer of value and information among a global network of consumers, merchants, financial institutions, businesses, strategic partners, and government entities. It offers debit cards, credit cards, prepaid products, commercial payment solutions, and global automated teller machines (ATMs).

Further Reading

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