Visa (NYSE:V) Given New $375.00 Price Target at JPMorgan Chase & Co.

Visa (NYSE:V) had its target price raised by JPMorgan Chase & Co. from $340.00 to $375.00 in a research report released on Friday morning,Benzinga reports. The brokerage currently has an overweight rating on the credit-card processor’s stock.

V has been the subject of several other reports. Bank of America boosted their target price on shares of Visa from $331.00 to $363.00 and gave the company a “neutral” rating in a research report on Friday. William Blair reissued an “outperform” rating on shares of Visa in a report on Friday. Macquarie boosted their target price on shares of Visa from $300.00 to $335.00 and gave the stock an “outperform” rating in a report on Wednesday, October 30th. Wells Fargo & Company raised their price objective on Visa from $360.00 to $395.00 and gave the stock an “overweight” rating in a research report on Friday. Finally, Royal Bank of Canada boosted their target price on shares of Visa from $311.00 to $322.00 and gave the company an “outperform” rating in a report on Wednesday, October 30th. Four research analysts have rated the stock with a hold rating, twenty-five have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, Visa has a consensus rating of “Moderate Buy” and a consensus target price of $352.27.

Visa Trading Down 0.3 %

Shares of Visa stock opened at $342.05 on Friday. The company has a debt-to-equity ratio of 0.55, a quick ratio of 1.28 and a current ratio of 1.28. The firm has a 50-day moving average of $317.74 and a 200-day moving average of $292.96. Visa has a 52-week low of $252.70 and a 52-week high of $351.25. The stock has a market cap of $637.19 billion, a PE ratio of 35.15, a PEG ratio of 2.27 and a beta of 0.96.

Visa (NYSE:V) last posted its quarterly earnings data on Thursday, January 30th. The credit-card processor reported $2.75 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.66 by $0.09. Visa had a net margin of 54.96% and a return on equity of 53.16%. As a group, sell-side analysts forecast that Visa will post 11.18 EPS for the current year.

Visa Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, March 3rd. Investors of record on Tuesday, February 11th will be given a $0.59 dividend. This represents a $2.36 dividend on an annualized basis and a yield of 0.69%. The ex-dividend date is Tuesday, February 11th. Visa’s payout ratio is currently 24.25%.

Insiders Place Their Bets

In other news, CEO Ryan Mcinerney sold 8,620 shares of Visa stock in a transaction on Thursday, January 2nd. The stock was sold at an average price of $317.78, for a total transaction of $2,739,263.60. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, insider Paul D. Fabara sold 2,171 shares of the stock in a transaction dated Friday, November 22nd. The shares were sold at an average price of $307.97, for a total transaction of $668,602.87. Following the transaction, the insider now owns 17,894 shares of the company’s stock, valued at approximately $5,510,815.18. The trade was a 10.82 % decrease in their position. The disclosure for this sale can be found here. Insiders own 0.13% of the company’s stock.

Institutional Trading of Visa

Hedge funds have recently added to or reduced their stakes in the stock. Decker Retirement Planning Inc. purchased a new stake in Visa in the 4th quarter worth about $26,000. Peterson Financial Group Inc. purchased a new position in shares of Visa in the third quarter worth about $26,000. POM Investment Strategies LLC lifted its stake in shares of Visa by 48.5% during the 4th quarter. POM Investment Strategies LLC now owns 98 shares of the credit-card processor’s stock valued at $31,000 after buying an additional 32 shares in the last quarter. Modus Advisors LLC bought a new position in Visa in the 4th quarter worth approximately $32,000. Finally, Reston Wealth Management LLC purchased a new position in Visa in the 3rd quarter valued at approximately $31,000. Institutional investors own 82.15% of the company’s stock.

About Visa

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.