Visa Inc. (V) Receives “Buy” Rating from KeyCorp

KeyCorp reaffirmed their buy rating on shares of Visa Inc. (NYSE:V) in a research report released on Friday morning. KeyCorp currently has a $110.00 target price on the credit-card processor’s stock.

A number of other research analysts have also issued reports on the stock. Vetr lowered shares of Visa from a hold rating to a sell rating and set a $100.88 target price for the company. in a research note on Tuesday. Robert W. Baird reissued a buy rating on shares of Visa in a research note on Thursday. UBS AG reissued an overweight rating on shares of Visa in a research note on Thursday. BidaskClub raised shares of Visa from a buy rating to a strong-buy rating in a research note on Thursday, August 10th. Finally, Zacks Investment Research lowered shares of Visa from a buy rating to a hold rating in a research note on Thursday, July 27th. One analyst has rated the stock with a sell rating, three have assigned a hold rating, twenty-seven have given a buy rating and two have assigned a strong buy rating to the stock. The company has an average rating of Buy and an average price target of $104.76.

Visa (NYSE V) traded up 0.13% during mid-day trading on Friday, hitting $103.35. The stock had a trading volume of 4,467,738 shares. The firm has a 50-day moving average of $99.99 and a 200-day moving average of $93.46. The stock has a market cap of $236.30 billion, a P/E ratio of 38.43 and a beta of 0.94. Visa has a 52-week low of $75.17 and a 52-week high of $104.20.

Visa (NYSE:V) last announced its quarterly earnings data on Thursday, July 20th. The credit-card processor reported $0.86 earnings per share for the quarter, beating analysts’ consensus estimates of $0.81 by $0.05. Visa had a net margin of 36.53% and a return on equity of 30.95%. The business had revenue of $4.57 billion during the quarter, compared to the consensus estimate of $4.36 billion. During the same quarter in the prior year, the firm earned $0.69 EPS. The company’s revenue for the quarter was up 25.8% compared to the same quarter last year. On average, analysts forecast that Visa will post $3.43 EPS for the current fiscal year.

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The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 5th. Investors of record on Friday, August 18th will be issued a dividend of $0.165 per share. This represents a $0.66 annualized dividend and a dividend yield of 0.64%. The ex-dividend date of this dividend is Wednesday, August 16th. Visa’s dividend payout ratio is currently 24.54%.

In other Visa news, Director Mary B. Cranston sold 10,400 shares of the stock in a transaction on Thursday, August 17th. The shares were sold at an average price of $103.32, for a total value of $1,074,528.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Tullier Kelly Mahon sold 29,772 shares of the stock in a transaction on Thursday, July 27th. The shares were sold at an average price of $100.91, for a total transaction of $3,004,292.52. Following the completion of the sale, the executive vice president now directly owns 17,360 shares of the company’s stock, valued at $1,751,797.60. The disclosure for this sale can be found here. 0.14% of the stock is currently owned by corporate insiders.

A number of hedge funds have recently modified their holdings of V. Mercer Capital Advisers Inc. increased its stake in shares of Visa by 2.2% in the first quarter. Mercer Capital Advisers Inc. now owns 1,167 shares of the credit-card processor’s stock worth $104,000 after buying an additional 25 shares during the period. Motco increased its stake in shares of Visa by 25.1% in the second quarter. Motco now owns 1,176 shares of the credit-card processor’s stock worth $110,000 after buying an additional 236 shares during the period. BDO Wealth Advisors LLC bought a new stake in shares of Visa during the second quarter worth $115,000. Mascoma Wealth Management LLC bought a new stake in shares of Visa during the second quarter worth $122,000. Finally, SpiderRock Advisors LLC increased its stake in shares of Visa by 107.1% in the second quarter. SpiderRock Advisors LLC now owns 1,309 shares of the credit-card processor’s stock worth $124,000 after buying an additional 19,709 shares during the period. 82.29% 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.