Visa Inc. (NYSE:V) had its price target increased by stock analysts at Bank of America Corporation from $103.00 to $111.00 in a research note issued on Friday. The brokerage currently has a “buy” rating on the credit-card processor’s stock. Bank of America Corporation’s price objective would indicate a potential upside of 11.45% from the stock’s previous close.
Other analysts have also recently issued research reports about the company. Oppenheimer Holdings, Inc. increased their target price on Visa from $100.00 to $106.00 in a research report on Tuesday, July 18th. Instinet reiterated a “buy” rating and set a $105.00 target price (up previously from $103.00) on shares of Visa in a research report on Sunday, April 23rd. Jefferies Group LLC reiterated a “buy” rating and set a $104.00 target price on shares of Visa in a research report on Sunday, April 23rd. Vetr upgraded 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. Finally, Citigroup Inc. reiterated a “buy” rating and set a $100.00 target price on shares of Visa in a research report on Thursday, May 25th. Five analysts have rated the stock with a hold rating, twenty-seven have issued a buy rating and one has given a strong buy rating to the stock. The stock presently has a consensus rating of “Buy” and an average price target of $103.37.
Shares of Visa (NYSE V) opened at 99.60 on Friday. The stock’s 50 day moving average price is $95.30 and its 200-day moving average price is $90.04. Visa has a 12 month low of $75.17 and a 12 month high of $100.49. The company has a market cap of $229.72 billion, a P/E ratio of 49.70 and a beta of 0.93.
Visa (NYSE:V) last released its earnings results on Thursday, July 20th. The credit-card processor reported $0.86 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.81 by $0.05. Visa had a return on equity of 31.04% and a net margin of 36.53%. The firm had revenue of $4.57 billion during the quarter, compared to analysts’ expectations of $4.36 billion. During the same quarter last year, the business posted $0.69 earnings per share. The firm’s revenue was up 25.8% on a year-over-year basis. Equities research analysts expect that Visa will post $3.37 earnings per share for the current year.
Visa declared that its board has approved a stock repurchase program on Thursday, April 20th that permits the company to buyback $5.00 billion in outstanding shares. This buyback authorization permits the credit-card processor to purchase up to 2.4% of its stock through open market purchases. Stock buyback programs are generally a sign that the company’s leadership believes its stock is undervalued.
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In other Visa news, Vice Chairman Ellen Richey sold 31,260 shares of the firm’s stock in a transaction on Tuesday, April 25th. The stock was sold at an average price of $91.94, for a total transaction of $2,874,044.40. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Company insiders own 0.14% of the company’s stock.
Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Vicus Capital increased its position in Visa by 17.4% in the first quarter. Vicus Capital now owns 4,719 shares of the credit-card processor’s stock valued at $419,000 after buying an additional 701 shares during the last quarter. Archon Partners LLC increased its position in Visa by 0.3% in the fourth quarter. Archon Partners LLC now owns 101,560 shares of the credit-card processor’s stock valued at $7,924,000 after buying an additional 260 shares during the last quarter. Temasek Holdings Private Ltd purchased a new position in Visa during the fourth quarter valued at approximately $118,769,000. Parallel Advisors LLC purchased a new position in Visa during the fourth quarter valued at approximately $3,189,000. Finally, InterOcean Capital LLC increased its position in Visa by 5.9% in the fourth quarter. InterOcean Capital LLC now owns 2,889 shares of the credit-card processor’s stock valued at $225,000 after buying an additional 162 shares during the last quarter. Institutional investors own 81.92% of the company’s stock.
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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