Visa (NYSE:V) Given New $260.00 Price Target at Jefferies Financial Group

Visa (NYSE:VGet Rating) had its price objective increased by Jefferies Financial Group from $225.00 to $260.00 in a research note issued to investors on Wednesday morning, The Fly reports.

Several other research firms have also weighed in on V. Citigroup dropped their price objective on shares of Visa from $254.00 to $238.00 and set a buy rating on the stock in a research note on Wednesday, October 26th. Truist Financial dropped their price target on shares of Visa from $250.00 to $220.00 and set a buy rating on the stock in a research note on Thursday, October 13th. BMO Capital Markets dropped their price target on shares of Visa from $257.00 to $241.00 and set an outperform rating on the stock in a research note on Thursday, October 27th. Raymond James dropped their price target on shares of Visa from $262.00 to $261.00 and set an outperform rating on the stock in a research note on Tuesday, October 18th. Finally, Wolfe Research raised their price target on shares of Visa from $240.00 to $255.00 in a research note on Thursday, January 5th. One investment analyst has rated the stock with a sell rating, two have given a hold rating and twenty-one have assigned a buy rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of Moderate Buy and an average target price of $252.85.

Visa Stock Performance

Shares of Visa stock opened at $219.46 on Wednesday. The firm has a market cap of $413.35 billion, a PE ratio of 31.40, a price-to-earnings-growth ratio of 1.80 and a beta of 0.95. The firm’s 50-day simple moving average is $211.10 and its 200-day simple moving average is $203.91. The company has a debt-to-equity ratio of 0.61, a quick ratio of 1.45 and a current ratio of 1.45. Visa has a 1 year low of $174.60 and a 1 year high of $235.85.

Visa (NYSE:VGet Rating) last issued its earnings results on Tuesday, October 25th. The credit-card processor reported $1.93 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.86 by $0.07. The business had revenue of $7.79 billion for the quarter, compared to analyst estimates of $7.55 billion. Visa had a net margin of 51.03% and a return on equity of 48.56%. Equities analysts forecast that Visa will post 8.28 earnings per share for the current fiscal year.

Visa declared that its board has initiated a share repurchase plan on Tuesday, October 25th that permits the company to repurchase $12.00 billion in outstanding shares. This repurchase authorization permits the credit-card processor to repurchase up to 3.1% of its stock through open market purchases. Stock repurchase plans are generally a sign that the company’s management believes its stock is undervalued.

Visa Cuts Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, January 3rd. Investors of record on Friday, December 16th were paid a $0.395 dividend. The ex-dividend date was Thursday, December 15th. This represents a $1.58 dividend on an annualized basis and a yield of 0.72%. Visa’s payout ratio is presently 25.75%.

Insider Activity at Visa

In other Visa news, insider Rajat Taneja sold 25,627 shares of the firm’s stock in a transaction on Friday, December 2nd. The shares were sold at an average price of $216.67, for a total value of $5,552,602.09. Following the sale, the insider now directly owns 232,112 shares in the company, valued at approximately $50,291,707.04. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In other Visa news, insider Rajat Taneja sold 25,627 shares of the firm’s stock in a transaction on Friday, December 2nd. The shares were sold at an average price of $216.67, for a total value of $5,552,602.09. Following the sale, the insider now directly owns 232,112 shares in the company, valued at approximately $50,291,707.04. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, President Ryan Mcinerney sold 58,197 shares of the firm’s stock in a transaction on Monday, January 9th. The stock was sold at an average price of $62.47, for a total transaction of $3,635,566.59. The disclosure for this sale can be found here. 0.21% of the stock is currently owned by company insiders.

Institutional Trading of Visa

Several institutional investors have recently made changes to their positions in V. BCK Partners Inc. acquired a new stake in shares of Visa during the 1st quarter valued at about $2,717,000. Markel Corp lifted its holdings in Visa by 0.3% during the 1st quarter. Markel Corp now owns 961,105 shares of the credit-card processor’s stock valued at $213,144,000 after purchasing an additional 3,065 shares during the last quarter. AMI Investment Management Inc. bought a new position in Visa during the 1st quarter valued at about $2,323,000. Ergoteles LLC bought a new position in Visa during the 1st quarter valued at about $538,000. Finally, XTX Topco Ltd bought a new position in Visa during the 1st quarter valued at about $1,496,000. 81.87% of the stock is currently owned by institutional investors and hedge funds.

About Visa

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Visa, Inc engages in the provision of digital payment services. It also facilitates global commerce through the transfer of value and information among a global network of consumers, merchants, financial institutions, businesses, strategic partners, and government entities. It offers debit cards, credit cards, prepaid products, commercial payment solutions, and global automated teller machines (ATMs).

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