Citigroup Inc. restated their buy rating on shares of Visa Inc. (NYSE:V) in a research report released on Monday. The brokerage currently has a $115.00 price objective on the credit-card processor’s stock, up from their previous price objective of $100.00.
Other equities analysts also recently issued reports about the company. Vetr downgraded Visa from a hold rating to a sell rating and set a $92.84 price objective on the stock. in a research report on Monday, June 5th. CIBC boosted their target price on Visa from $95.00 to $100.00 and gave the stock an outperform rating in a research report on Wednesday, April 26th. BidaskClub downgraded Visa from a strong-buy rating to a buy rating in a research report on Tuesday, June 13th. Zacks Investment Research downgraded Visa from a buy rating to a hold rating in a research report on Friday, May 26th. Finally, Credit Suisse Group set a $112.00 target price on Visa and gave the stock a buy rating in a research report on Saturday. Five investment analysts have rated the stock with a hold rating, twenty-seven have assigned a buy rating and one has assigned a strong buy rating to the company. The stock has a consensus rating of Buy and an average target price of $103.87.
Shares of Visa (NYSE:V) traded up 0.324% during mid-day trading on Monday, reaching $100.695. The company had a trading volume of 2,366,231 shares. The stock has a market capitalization of $230.23 billion, a P/E ratio of 37.447 and a beta of 0.93. Visa has a one year low of $75.17 and a one year high of $100.85. The firm has a 50 day moving average of $95.54 and a 200-day moving average of $90.40.
Visa (NYSE:V) last released its quarterly earnings results on Thursday, July 20th. The credit-card processor reported $0.86 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.81 by $0.05. Visa had a return on equity of 30.95% and a net margin of 36.53%. The business had revenue of $4.57 billion during the quarter, compared to analyst estimates of $4.36 billion. During the same quarter in the previous year, the company posted $0.69 earnings per share. Visa’s revenue for the quarter was up 25.8% on a year-over-year basis. Analysts forecast that Visa will post $3.42 EPS for the current fiscal year.
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The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 5th. Stockholders of record on Friday, August 18th will be issued a dividend of $0.165 per share. The ex-dividend date is Wednesday, August 16th. This represents a $0.66 annualized dividend and a dividend yield of 0.66%. Visa’s dividend payout ratio is presently 24.54%.
Visa declared that its Board of Directors has initiated a share buyback program on Thursday, April 20th that permits the company to repurchase $5.00 billion in shares. This repurchase authorization permits the credit-card processor to reacquire up to 2.4% of its stock through open market purchases. Stock repurchase programs are generally a sign that the company’s board of directors believes its stock is undervalued.
A number of institutional investors have recently modified their holdings of the company. Folger Hill Asset Management LP purchased a new position in shares of Visa during the fourth quarter worth about $474,000. Chilton Capital Management LLC raised its position in shares of Visa by 8.5% in the fourth quarter. Chilton Capital Management LLC now owns 135,794 shares of the credit-card processor’s stock worth $10,595,000 after buying an additional 10,613 shares during the period. InterOcean Capital LLC raised its position in shares of Visa by 5.9% in the fourth quarter. InterOcean Capital LLC now owns 2,889 shares of the credit-card processor’s stock worth $225,000 after buying an additional 162 shares during the period. Parallel Advisors LLC purchased a new position in shares of Visa during the fourth quarter worth about $3,189,000. Finally, Temasek Holdings Private Ltd purchased a new position in shares of Visa during the fourth quarter worth about $118,769,000. Institutional investors own 82.02% of the company’s stock.
Visa Inc (Visa) is a payments technology company that connects consumers, merchants, financial institutions, businesses, strategic partners and government entities to electronic payments. The Company operates through payment services segment. The Company enables global commerce through the transfer of value and information among the participants.
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