Visa (NYSE:V) Price Target Increased to $299.00 by Analysts at Oppenheimer

Visa (NYSE:V) had its price target upped by Oppenheimer from $297.00 to $299.00 in a research note issued to investors on Wednesday, Benzinga reports. Oppenheimer currently has an outperform rating on the credit-card processor’s stock.

A number of other brokerages have also recently commented on V. KeyCorp lifted their price objective on shares of Visa from $275.00 to $300.00 and gave the stock an overweight rating in a research note on Monday, January 8th. William Blair reissued an outperform rating on shares of Visa in a research note on Friday, January 26th. TD Cowen initiated coverage on shares of Visa in a research note on Thursday, April 11th. They issued a buy rating and a $320.00 price objective for the company. Royal Bank of Canada lifted their price objective on shares of Visa from $290.00 to $309.00 and gave the stock an outperform rating in a research note on Friday, January 26th. Finally, Barclays lifted their price objective on shares of Visa from $304.00 to $319.00 and gave the stock an overweight rating in a research note on Monday, January 29th. Five investment analysts have rated the stock with a hold rating and twenty have given a buy rating to the company. Based on data from MarketBeat.com, Visa currently has a consensus rating of Moderate Buy and an average price target of $302.58.

Visa Stock Performance

V opened at $275.04 on Wednesday. The stock has a market capitalization of $505.11 billion, a price-to-earnings ratio of 30.73, a PEG ratio of 1.89 and a beta of 0.96. The company has a fifty day moving average of $279.44 and a 200 day moving average of $263.97. Visa has a fifty-two week low of $216.14 and a fifty-two week high of $290.96. The company has a debt-to-equity ratio of 0.54, a quick ratio of 1.45 and a current ratio of 1.45.

Visa (NYSE:V) last posted its earnings results on Tuesday, April 23rd. The credit-card processor reported $2.51 earnings per share for the quarter, beating the consensus estimate of $2.43 by $0.08. The company had revenue of $8.78 billion during the quarter, compared to analysts’ expectations of $8.62 billion. Visa had a net margin of 53.87% and a return on equity of 51.72%. Visa’s quarterly revenue was up 9.9% on a year-over-year basis. During the same period last year, the company posted $2.09 earnings per share. As a group, sell-side analysts forecast that Visa will post 9.88 earnings per share for the current fiscal year.

Visa Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, June 3rd. Investors of record on Friday, May 17th will be issued a dividend of $0.52 per share. The ex-dividend date of this dividend is Thursday, May 16th. This represents a $2.08 dividend on an annualized basis and a yield of 0.76%. Visa’s payout ratio is 23.24%.

Insider Activity

In other news, CEO Ryan Mcinerney sold 8,150 shares of the business’s stock in a transaction dated Thursday, February 1st. The shares were sold at an average price of $273.39, for a total value of $2,228,128.50. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In other news, CEO Ryan Mcinerney sold 8,150 shares of the business’s stock in a transaction dated Thursday, February 1st. The shares were sold at an average price of $273.39, for a total value of $2,228,128.50. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CAO Peter M. Andreski sold 2,615 shares of the business’s stock in a transaction dated Wednesday, February 7th. The shares were sold at an average price of $278.88, for a total transaction of $729,271.20. Following the completion of the sale, the chief accounting officer now owns 4,898 shares of the company’s stock, valued at approximately $1,365,954.24. The disclosure for this sale can be found here. In the last quarter, insiders sold 18,965 shares of company stock worth $5,256,352. 0.19% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of the company. Investment Advisory Services Inc. TX ADV grew its position in Visa by 2.0% during the 3rd quarter. Investment Advisory Services Inc. TX ADV now owns 3,930 shares of the credit-card processor’s stock worth $904,000 after purchasing an additional 78 shares during the last quarter. Towerpoint Wealth LLC purchased a new stake in Visa during the 4th quarter worth approximately $216,000. Andrew Hill Investment Advisors Inc. purchased a new stake in Visa during the 4th quarter worth approximately $3,427,000. Wayfinding Financial LLC grew its position in Visa by 10.1% during the 3rd quarter. Wayfinding Financial LLC now owns 1,757 shares of the credit-card processor’s stock worth $406,000 after purchasing an additional 161 shares during the last quarter. Finally, Richelieu Gestion SA purchased a new stake in Visa during the 4th quarter worth approximately $307,000. Hedge funds and other institutional investors own 82.15% of the company’s stock.

Visa Company Profile

Visa Inc operates as a payment technology company in the United States and internationally. The company operates VisaNet, a transaction processing network that enables authorization, clearing, and settlement of payment transactions. It also offers credit, debit, and prepaid card products; tap to pay, tokenization, and click to pay services; Visa Direct, a solution that facilitates the delivery of funds to eligible cards, deposit accounts, and digital wallets; Visa B2B Connect, a multilateral business-to-business cross-border payments network; Visa Cross-Border Solution, a cross-border consumer payments solution; and Visa DPS that provides a range of value-added services, including fraud mitigation, dispute management, data analytics, campaign management, a suite of digital solutions, and contact center services.