Visa (NYSE:V) Stock Gets Price Target Bump from Sanford C. Bernstein

Visa (NYSE:V) had its target price lifted by analysts at Sanford C. Bernstein from $475.00 to $486.00 in a research report issued to clients and investors on Wednesday, Benzinga reports. The firm presently has an “outperform” rating on the credit-card processor’s stock. Sanford C. Bernstein‘s target price would indicate a potential upside of 15.00% from the company’s current price.

Several other equities research analysts have also recently weighed in on the company. UBS Group reissued a “buy” rating and issued a $420.00 price target (up from $410.00) on shares of Visa in a research note on Wednesday, July 29th. KeyCorp lifted their price objective on Visa from $415.00 to $425.00 and gave the stock an “overweight” rating in a research note on Wednesday, July 29th. Clear Str upgraded Visa to a “strong-buy” rating in a report on Thursday, July 16th. Robert W. Baird increased their target price on shares of Visa from $420.00 to $430.00 and gave the company an “outperform” rating in a research report on Monday, October 12th. Finally, Morgan Stanley restated an “overweight” rating and issued a $471.00 price target (up from $416.00) on shares of Visa in a research report on Wednesday, October 28th. Two research analysts have rated the stock with a Strong Buy rating and thirty-five have given a Buy rating to the company’s stock. According to MarketBeat, Visa currently has a consensus rating of “Buy” and an average target price of $443.35.

Visa Trading Down 0.1%

Shares of V stock traded down $0.40 during trading hours on Wednesday, hitting $422.60. 2,145,234 shares of the company’s stock traded hands, compared to its average volume of 7,506,825. The stock has a market cap of $754.10 billion, a PE ratio of 34.23, a price-to-earnings-growth ratio of 1.80 and a beta of 0.80. The stock’s 50 day simple moving average is $387.55 and its 200 day simple moving average is $345.66. The company has a quick ratio of 0.97, a current ratio of 0.97 and a debt-to-equity ratio of 0.54. Visa has a 12 month low of $293.89 and a 12 month high of $442.23.

Visa (NYSE:V) last posted its quarterly earnings data on Tuesday, October 27th. The credit-card processor reported $3.48 earnings per share for the quarter, beating analysts’ consensus estimates of $3.44 by $0.04. The business had revenue of $12.14 billion during the quarter, compared to the consensus estimate of $12.09 billion. Visa had a return on equity of 70.50% and a net margin of 51.20%. Visa’s quarterly revenue was up 13.2% on a year-over-year basis. During the same period in the prior year, the business posted $2.98 earnings per share. On average, sell-side analysts anticipate that Visa will post 15.02 EPS for the current year.

Insider Buying and Selling at Visa

In other Visa news, CEO Ryan Mcinerney sold 5,875 shares of Visa stock in a transaction dated Monday, November 2nd. The stock was sold at an average price of $416.22, for a total transaction of $2,445,292.50. Following the completion of the transaction, the chief executive officer owned 15,174 shares in the company, valued at approximately $6,315,722.28. The trade was a 27.91% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, General Counsel Julie B. Rottenberg sold 1,867 shares of the business’s stock in a transaction that occurred on Monday, November 9th. The stock was sold at an average price of $423.00, for a total value of $789,741.00. Following the sale, the general counsel directly owned 18,404 shares of the company’s stock, valued at $7,784,892. This represents a 9.21% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last three months, insiders sold 29,262 shares of company stock valued at $11,195,791. 0.12% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of the stock. John Boyer Inc. bought a new position in Visa during the 3rd quarter valued at $27,000. Philadelphia Investment Partners LLC bought a new stake in shares of Visa in the 2nd quarter worth $29,000. Virtus Advisers LLC bought a new stake in shares of Visa in the 2nd quarter worth $33,000. Robinswood Financial LLC bought a new stake in shares of Visa in the 1st quarter worth $35,000. Finally, Portfolio Resources Advisor Group Inc. purchased a new stake in shares of Visa in the third quarter valued at about $35,000. Hedge funds and other institutional investors own 82.15% of the company’s stock.

Visa Company Profile

Visa Inc. operates a global payments network that connects consumers, merchants, financial institutions and governments. Its network supports the authorization, clearing and settlement of electronic payments, including transactions made in person and online. The company’s services include payment processing, fraud prevention, identity and risk management, and money-transfer solutions such as Visa Direct. Visa-branded credit, debit and prepaid cards are issued by participating financial institutions; Visa generally provides the network and related services rather than issuing cards or extending credit directly to consumers.