Bank of America Forecasts Strong Price Appreciation for Visa (NYSE:V) Stock

Visa (NYSE:V) had its price objective hoisted by Bank of America from $314.00 to $331.00 in a research note released on Wednesday,Benzinga reports. Bank of America currently has a neutral rating on the credit-card processor’s stock.

Several other brokerages have also recently weighed in on V. Robert W. Baird boosted their price objective on Visa from $330.00 to $340.00 and gave the stock an “outperform” rating in a research note on Wednesday, October 30th. Piper Sandler boosted their target price on Visa from $319.00 to $322.00 and gave the company an “overweight” rating in a research report on Wednesday, October 30th. Citigroup increased their price target on Visa from $326.00 to $354.00 and gave the company a “buy” rating in a report on Tuesday, January 14th. TD Cowen lifted their price objective on shares of Visa from $318.00 to $325.00 and gave the stock a “buy” rating in a research note on Wednesday, October 30th. Finally, Seaport Res Ptn raised shares of Visa from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, January 14th. Four investment analysts have rated the stock with a hold rating, twenty-four have issued a buy rating and two have assigned a strong buy rating to the company. Based on data from MarketBeat.com, Visa has a consensus rating of “Moderate Buy” and a consensus target price of $332.81.

Visa Stock Down 0.0 %

NYSE V opened at $323.55 on Wednesday. The stock has a 50 day moving average price of $313.86 and a 200-day moving average price of $289.47. Visa has a one year low of $252.70 and a one year high of $325.74. 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 company has a market capitalization of $602.73 billion, a P/E ratio of 33.25, a P/E/G ratio of 2.17 and a beta of 0.96.

Visa (NYSE:V) last released its quarterly earnings data on Tuesday, October 29th. The credit-card processor reported $2.71 EPS for the quarter, beating the consensus estimate of $2.58 by $0.13. Visa had a net margin of 54.96% and a return on equity of 53.16%. The business had revenue of $9.62 billion during the quarter, compared to analyst estimates of $9.49 billion. During the same quarter last year, the business earned $2.33 earnings per share. Visa’s quarterly revenue was up 11.7% compared to the same quarter last year. As a group, equities analysts predict that Visa will post 11.2 EPS for the current fiscal year.

Visa Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, December 2nd. Stockholders of record on Tuesday, November 12th were given a $0.59 dividend. This represents a $2.36 annualized dividend and a dividend yield of 0.73%. The ex-dividend date was Tuesday, November 12th. This is a boost from Visa’s previous quarterly dividend of $0.52. Visa’s dividend payout ratio is presently 24.25%.

Insider Activity at Visa

In other news, insider Paul D. Fabara sold 2,171 shares of the firm’s stock in a transaction dated Friday, November 22nd. The shares were sold at an average price of $307.97, for a total value of $668,602.87. Following the sale, the insider now directly owns 17,894 shares in the company, valued at approximately $5,510,815.18. This trade represents a 10.82 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Ryan Mcinerney sold 8,620 shares of the business’s stock in a transaction that occurred 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 disclosure for this sale can be found here. 0.13% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Visa

Several institutional investors and hedge funds have recently bought and sold shares of the company. Mayflower Financial Advisors LLC lifted its holdings in shares of Visa by 2.2% during the 4th quarter. Mayflower Financial Advisors LLC now owns 11,971 shares of the credit-card processor’s stock valued at $3,783,000 after purchasing an additional 257 shares during the last quarter. BSW Wealth Partners raised its stake in Visa by 7.5% in the fourth quarter. BSW Wealth Partners now owns 6,325 shares of the credit-card processor’s stock valued at $1,999,000 after buying an additional 442 shares during the last quarter. Spectrum Planning & Advisory Services Inc. acquired a new stake in Visa in the fourth quarter worth about $205,000. Falcon Wealth Planning grew its stake in shares of Visa by 5.4% during the fourth quarter. Falcon Wealth Planning now owns 1,468 shares of the credit-card processor’s stock worth $464,000 after acquiring an additional 75 shares during the last quarter. Finally, Patriot Financial Group Insurance Agency LLC increased its holdings in shares of Visa by 3.8% during the fourth quarter. Patriot Financial Group Insurance Agency LLC now owns 13,241 shares of the credit-card processor’s stock valued at $4,185,000 after acquiring an additional 479 shares in the last quarter. 82.15% of the stock is owned by hedge funds and other institutional investors.

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.