Visa Inc. (NYSE:V) was upgraded by equities research analysts at BidaskClub from a “buy” rating to a “strong-buy” rating in a report released on Thursday.
Other research analysts also recently issued reports about the stock. Oppenheimer Holdings, Inc. boosted their target price on shares of Visa from $100.00 to $106.00 in a research report on Tuesday, July 18th. Citigroup Inc. restated a “buy” rating and set a $100.00 target price on shares of Visa in a research report on Thursday, May 25th. Instinet restated a “buy” rating and set a $105.00 target price (up from $103.00) on shares of Visa in a research report on Sunday, April 23rd. Jefferies Group LLC restated a “buy” rating and set a $104.00 target price on shares of Visa in a research report on Sunday, April 23rd. Finally, Vetr upgraded shares of Visa from a “hold” rating to a “buy” rating and set a $95.32 target price for the company in a research report on Thursday, April 27th. Four equities research analysts have rated the stock with a hold rating, twenty-six have issued a buy rating and two have given a strong buy rating to the company. Visa currently has a consensus rating of “Buy” and an average target price of $104.56.
Visa (NYSE V) traded down 0.74% during trading on Thursday, hitting $100.22. The stock had a trading volume of 1,419,475 shares. The stock has a market cap of $229.15 billion, a price-to-earnings ratio of 37.27 and a beta of 0.94. Visa has a 12 month low of $75.17 and a 12 month high of $101.72. The firm has a 50 day moving average of $97.43 and a 200-day moving average of $91.91.
Visa (NYSE:V) last posted its earnings results on Thursday, July 20th. The credit-card processor reported $0.86 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.81 by $0.05. The company had revenue of $4.57 billion during the quarter, compared to the consensus estimate of $4.36 billion. Visa had a net margin of 36.53% and a return on equity of 30.95%. The firm’s quarterly revenue was up 25.8% on a year-over-year basis. During the same period in the previous year, the firm posted $0.69 earnings per share. Equities analysts predict that Visa will post $3.43 earnings per share for the current year.
Visa announced that its Board of Directors has initiated a stock repurchase plan on Thursday, April 20th that allows the company to buyback $5.00 billion in shares. This buyback authorization allows the credit-card processor to buy up to 2.4% of its shares through open market purchases. Shares buyback plans are generally an indication that the company’s management believes its shares are undervalued.
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In other news, EVP Tullier Kelly Mahon sold 29,772 shares of the stock in a transaction that occurred on Thursday, July 27th. The shares were sold at an average price of $100.91, for a total value of $3,004,292.52. Following the completion of the sale, the executive vice president now owns 17,360 shares of the company’s stock, valued at approximately $1,751,797.60. The transaction was disclosed in a filing with the SEC, which is accessible through this link. 0.14% of the stock is currently owned by corporate insiders.
Several hedge funds have recently bought and sold shares of V. Mercer Capital Advisers Inc. boosted its stake in Visa by 2.2% in the first quarter. Mercer Capital Advisers Inc. now owns 1,167 shares of the credit-card processor’s stock valued at $104,000 after buying an additional 25 shares during the period. Motco boosted its stake in Visa by 25.1% in the second quarter. Motco now owns 1,176 shares of the credit-card processor’s stock valued at $110,000 after buying an additional 236 shares during the period. BDO Wealth Advisors LLC purchased a new stake in Visa during the second quarter valued at $115,000. Mascoma Wealth Management LLC purchased a new stake in Visa during the second quarter valued at $122,000. Finally, SpiderRock Advisors LLC boosted its stake in Visa by 107.1% in the second quarter. SpiderRock Advisors LLC now owns 1,309 shares of the credit-card processor’s stock valued at $124,000 after buying an additional 19,709 shares during the period. 82.46% of the stock is owned by institutional investors and hedge funds.
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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