Several other equities analysts have also recently weighed in on the company. Deutsche Bank Aktiengesellschaft dropped their price objective on Visa from $270.00 to $260.00 and set a buy rating for the company in a report on Thursday, October 13th. BMO Capital Markets lowered their price target on Visa from $257.00 to $241.00 and set an outperform rating for the company in a report on Thursday, October 27th. Redburn Partners initiated coverage on Visa in a report on Tuesday, November 29th. They set a sell rating for the company. Raymond James reduced their price objective on Visa from $262.00 to $261.00 and set an outperform rating on the stock in a research report on Tuesday, October 18th. Finally, Jefferies Financial Group boosted their price objective on Visa from $225.00 to $260.00 and gave the stock a buy rating in a research report on Wednesday. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and twenty-one have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company has an average rating of Moderate Buy and an average target price of $255.07.
Visa Stock Performance
Shares of NYSE V opened at $224.31 on Friday. The company has a market capitalization of $422.49 billion, a P/E ratio of 32.09, a P/E/G ratio of 1.80 and a beta of 0.95. The stock has a 50 day moving average of $212.30 and a 200-day moving average of $204.30. The company has a current ratio of 1.45, a quick ratio of 1.45 and a debt-to-equity ratio of 0.61. Visa has a 12 month low of $174.60 and a 12 month high of $235.85.
Visa Cuts Dividend
The business also recently disclosed a quarterly dividend, which was paid on Tuesday, January 3rd. Stockholders of record on Friday, December 16th were paid a $0.395 dividend. This represents a $1.58 annualized dividend and a dividend yield of 0.70%. The ex-dividend date of this dividend was Thursday, December 15th. Visa’s dividend payout ratio (DPR) is presently 25.75%.
Visa announced that its Board of Directors has approved a stock repurchase program on Tuesday, October 25th that authorizes the company to repurchase $12.00 billion in shares. This repurchase authorization authorizes the credit-card processor to purchase up to 3.1% of its shares through open market purchases. Shares repurchase programs are typically an indication that the company’s leadership believes its stock is undervalued.
Insider Transactions at Visa
In other news, insider Rajat Taneja sold 25,627 shares of the stock in a transaction that occurred on Friday, December 2nd. The stock was sold at an average price of $216.67, for a total value of $5,552,602.09. Following the completion of the sale, the insider now directly owns 232,112 shares of the company’s stock, valued at $50,291,707.04. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. In other news, President Ryan Mcinerney sold 58,197 shares of the company’s stock in a transaction that occurred on Monday, January 9th. The stock was sold at an average price of $62.47, for a total value of $3,635,566.59. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, insider Rajat Taneja sold 25,627 shares of the company’s stock in a transaction that occurred 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 completion of the transaction, the insider now directly owns 232,112 shares of the company’s stock, valued at $50,291,707.04. The disclosure for this sale can be found here. Company insiders own 0.21% of the company’s stock.
Hedge Funds Weigh In On Visa
Several institutional investors have recently modified their holdings of V. BCK Partners Inc. bought a new position in Visa during the first quarter valued at $2,717,000. Markel Corp grew its holdings in Visa by 0.3% during the first 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 period. AMI Investment Management Inc. bought a new position in Visa during the first quarter valued at $2,323,000. Ergoteles LLC bought a new position in shares of Visa in the first quarter worth $538,000. Finally, XTX Topco Ltd bought a new position in shares of Visa in the first quarter worth $1,496,000. 81.87% of the stock is owned by institutional investors.
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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