Visa (NYSE:V) had its price target upped by stock analysts at Morgan Stanley from $140.00 to $142.00 in a research report issued on Thursday. The brokerage currently has an “overweight” rating on the credit-card processor’s stock. Morgan Stanley’s target price points to a potential upside of 12.41% from the company’s current price.
A number of other equities research analysts also recently weighed in on the company. Zacks Investment Research downgraded Visa from a “buy” rating to a “hold” rating in a report on Friday, April 20th. Guggenheim reissued a “buy” rating and issued a $143.00 price objective on shares of Visa in a research note on Monday, April 9th. Vetr cut Visa from a “strong-buy” rating to a “buy” rating and set a $135.00 price objective for the company. in a research note on Thursday, April 5th. ValuEngine raised Visa from a “hold” rating to a “buy” rating in a research note on Monday, April 2nd. Finally, Sanford C. Bernstein assumed coverage on Visa in a research note on Tuesday, March 27th. They issued an “outperform” rating and a $143.00 price objective for the company. Three investment analysts have rated the stock with a hold rating, thirty-one have given a buy rating and one has assigned a strong buy rating to the company’s stock. Visa presently has a consensus rating of “Buy” and a consensus price target of $135.97.
V stock traded up $5.11 during mid-day trading on Thursday, reaching $126.32. The company’s stock had a trading volume of 3,859,967 shares, compared to its average volume of 8,252,449. The company has a market cap of $249,881.33, a P/E ratio of 36.30, a PEG ratio of 1.61 and a beta of 0.99. The company has a debt-to-equity ratio of 0.60, a quick ratio of 2.07 and a current ratio of 2.07. Visa has a 12 month low of $90.98 and a 12 month high of $126.88.
Visa declared that its board has authorized a stock buyback program on Thursday, February 1st that allows the company to repurchase $7.50 billion in outstanding shares. This repurchase authorization allows the credit-card processor to buy shares of its stock through open market purchases. Shares repurchase programs are typically an indication that the company’s management believes its shares are undervalued.
In other Visa news, EVP Lynne Biggar sold 1,712 shares of the business’s stock in a transaction on Wednesday, February 14th. The stock was sold at an average price of $120.00, for a total value of $205,440.00. The transaction was disclosed in a legal filing with the SEC, which is available at this link. 0.14% of the stock is currently owned by insiders.
Hedge funds have recently bought and sold shares of the business. Roble Belko & Company Inc raised its stake in shares of Visa by 220.8% in the fourth quarter. Roble Belko & Company Inc now owns 879 shares of the credit-card processor’s stock valued at $100,000 after buying an additional 605 shares during the period. Earnest Partners LLC bought a new stake in shares of Visa in the fourth quarter valued at $100,000. Welch Investments LLC bought a new stake in shares of Visa in the third quarter valued at $101,000. AlphaOne Investment Services LLC bought a new stake in shares of Visa in the fourth quarter valued at $108,000. Finally, Fusion Family Wealth LLC raised its stake in shares of Visa by 138.8% in the fourth quarter. Fusion Family Wealth LLC now owns 955 shares of the credit-card processor’s stock valued at $109,000 after buying an additional 555 shares during the period. 81.58% of the stock is currently owned by institutional investors and hedge funds.
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Visa Inc operates as a payments technology company worldwide. The company facilitates commerce through the transfer of value and information among consumers, merchants, financial institutions, businesses, strategic partners, and government entities. It operates VisaNet, a processing network that enables authorization, clearing, and settlement of payment transactions; and offers fraud protection for account holders and assured payment for merchants.
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