Macquarie Reaffirms “Outperform” Rating for Visa (NYSE:V)

Macquarie reaffirmed their outperform rating on shares of Visa (NYSE:V) in a research note issued to investors on Friday, Benzinga reports. Macquarie currently has a $300.00 price target on the credit-card processor’s stock.

V has been the subject of several other reports. Evercore ISI lowered their target price on Visa from $335.00 to $330.00 and set an outperform rating for the company in a research note on Tuesday, June 25th. StockNews.com upgraded shares of Visa from a hold rating to a buy rating in a report on Friday, August 9th. Piper Sandler dropped their price objective on shares of Visa from $322.00 to $319.00 and set an overweight rating on the stock in a research report on Wednesday, July 24th. BNP Paribas raised Visa from a neutral rating to an outperform rating and set a $325.00 target price on the stock in a report on Tuesday, September 3rd. Finally, Jefferies Financial Group decreased their price target on Visa from $325.00 to $300.00 and set a buy rating for the company in a report on Wednesday, July 24th. Six equities research analysts have rated the stock with a hold rating, twenty-three have issued a buy rating and two have assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of Moderate Buy and an average price target of $310.22.

Visa Stock Performance

NYSE V opened at $274.77 on Friday. The stock has a fifty day simple moving average of $271.45 and a 200-day simple moving average of $273.11. The company has a current ratio of 1.37, a quick ratio of 1.37 and a debt-to-equity ratio of 0.54. The stock has a market cap of $500.72 billion, a PE ratio of 30.70, a P/E/G ratio of 1.94 and a beta of 0.96. Visa has a twelve month low of $227.78 and a twelve month high of $293.07.

Visa (NYSE:V) last issued its quarterly earnings data on Tuesday, July 23rd. The credit-card processor reported $2.42 earnings per share for the quarter, meeting analysts’ consensus estimates of $2.42. The business had revenue of $8.90 billion during the quarter, compared to analysts’ expectations of $8.92 billion. Visa had a return on equity of 51.94% and a net margin of 54.72%. The company’s revenue was up 9.6% on a year-over-year basis. During the same period in the previous year, the firm posted $2.16 earnings per share. Equities analysts anticipate that Visa will post 9.92 earnings per share for the current year.

Visa Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Tuesday, September 3rd. Stockholders of record on Friday, August 9th were paid a dividend of $0.52 per share. The ex-dividend date of this dividend was Friday, August 9th. This represents a $2.08 dividend on an annualized basis and a dividend yield of 0.76%. Visa’s dividend payout ratio (DPR) is 23.24%.

Insider Buying and Selling

In other news, CEO Ryan Mcinerney sold 8,620 shares of the firm’s stock in a transaction that occurred on Tuesday, September 3rd. The stock was sold at an average price of $276.37, for a total value of $2,382,309.40. Following the completion of the sale, the chief executive officer now directly owns 538 shares of the company’s stock, valued at approximately $148,687.06. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. 0.19% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Visa

Large investors have recently made changes to their positions in the stock. National Bank of Canada FI boosted its holdings in Visa by 787.1% during the first quarter. National Bank of Canada FI now owns 4,619,881 shares of the credit-card processor’s stock worth $1,296,820,000 after buying an additional 4,099,122 shares in the last quarter. Swedbank AB acquired a new stake in shares of Visa during the 1st quarter valued at approximately $511,321,000. GQG Partners LLC boosted its stake in shares of Visa by 40.1% during the 1st quarter. GQG Partners LLC now owns 5,990,634 shares of the credit-card processor’s stock worth $1,671,866,000 after acquiring an additional 1,715,686 shares in the last quarter. Wulff Hansen & CO. grew its holdings in shares of Visa by 26,951.9% in the 2nd quarter. Wulff Hansen & CO. now owns 1,587,944 shares of the credit-card processor’s stock worth $416,788,000 after acquiring an additional 1,582,074 shares during the period. Finally, Public Employees Retirement Association of Colorado increased its stake in Visa by 14,306.3% in the 4th quarter. Public Employees Retirement Association of Colorado now owns 1,500,270 shares of the credit-card processor’s stock valued at $390,595,000 after purchasing an additional 1,489,856 shares in the last quarter. 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.