Visa Inc. (NYSE:V - Free Report) - Research analysts at Wedbush boosted their Q3 2024 earnings per share estimates for shares of Visa in a report released on Monday, April 29th. Wedbush analyst M. Katri now anticipates that the credit-card processor will post earnings of $2.34 per share for the quarter, up from their previous forecast of $2.28. Wedbush currently has a "Outperform" rating and a $300.00 target price on the stock. The consensus estimate for Visa's current full-year earnings is $9.90 per share. Wedbush also issued estimates for Visa's Q4 2024 earnings at $2.49 EPS and FY2024 earnings at $9.75 EPS.
Visa (NYSE:V - Get Free Report) last released its quarterly earnings results on Tuesday, April 23rd. The credit-card processor reported $2.51 EPS for the quarter, beating the consensus estimate of $2.43 by $0.08. The firm had revenue of $8.78 billion for the quarter, compared to analyst estimates of $8.62 billion. Visa had a net margin of 53.87% and a return on equity of 51.23%. The business's revenue for the quarter was up 9.9% compared to the same quarter last year. During the same quarter in the previous year, the company earned $2.09 EPS.
A number of other brokerages have also issued reports on V. Susquehanna boosted their target price on Visa from $300.00 to $326.00 and gave the company a "positive" rating in a research report on Friday, January 26th. Redburn Atlantic reaffirmed a "neutral" rating and set a $307.00 price objective on shares of Visa in a research report on Wednesday, March 27th. Wells Fargo & Company upped their price objective on Visa from $300.00 to $325.00 and gave the stock an "overweight" rating in a research report on Wednesday, March 6th. Oppenheimer upped their price objective on Visa from $297.00 to $299.00 and gave the stock an "outperform" rating in a research report on Wednesday, April 24th. Finally, Mizuho reaffirmed a "neutral" rating and set a $265.00 price objective on shares of Visa in a research report on Wednesday, March 27th. Five research analysts have rated the stock with a hold rating and twenty have given a buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $302.58.
View Our Latest Report on V
Visa Trading Down 0.5 %
NYSE V traded down $1.29 on Wednesday, reaching $267.32. The stock had a trading volume of 6,037,363 shares, compared to its average volume of 5,938,064. The firm has a market capitalization of $490.94 billion, a price-to-earnings ratio of 29.87, a P/E/G ratio of 1.87 and a beta of 0.96. The company has a quick ratio of 1.40, a current ratio of 1.40 and a debt-to-equity ratio of 0.53. Visa has a 12-month low of $216.14 and a 12-month high of $290.96. The stock has a fifty day moving average price of $278.79 and a two-hundred day moving average price of $265.21.
Visa Announces Dividend
The firm also recently announced a quarterly dividend, which will be paid on Monday, June 3rd. Stockholders of record on Friday, May 17th will be issued a $0.52 dividend. The ex-dividend date of this dividend is Thursday, May 16th. This represents a $2.08 dividend on an annualized basis and a dividend yield of 0.78%. Visa's payout ratio is 23.24%.
Insider Buying and Selling
In related news, Director Lloyd Carney sold 909 shares of the stock in a transaction dated Friday, April 26th. The shares were sold at an average price of $275.55, for a total transaction of $250,474.95. Following the completion of the transaction, the director now directly owns 2,591 shares of the company's stock, valued at $713,950.05. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In related news, Director Lloyd Carney sold 909 shares of the stock in a transaction dated Friday, April 26th. The shares were sold at an average price of $275.55, for a total transaction of $250,474.95. Following the completion of the transaction, the director now directly owns 2,591 shares of the company's stock, valued at $713,950.05. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Ryan Mcinerney sold 8,150 shares of the stock in a transaction dated Thursday, February 1st. The stock was sold at an average price of $273.39, for a total transaction of $2,228,128.50. The disclosure for this sale can be found here. Insiders sold 19,874 shares of company stock valued at $5,506,827 over the last ninety days. Corporate insiders own 0.19% of the company's stock.
Institutional Inflows and Outflows
Hedge funds have recently added to or reduced their stakes in the stock. KFA Private Wealth Group LLC increased its stake in shares of Visa by 4.5% during the 1st quarter. KFA Private Wealth Group LLC now owns 1,935 shares of the credit-card processor's stock worth $540,000 after purchasing an additional 83 shares in the last quarter. Fairhaven Wealth Management LLC increased its stake in shares of Visa by 12.9% during the 1st quarter. Fairhaven Wealth Management LLC now owns 20,318 shares of the credit-card processor's stock worth $5,670,000 after purchasing an additional 2,329 shares in the last quarter. Centric Wealth Management increased its stake in shares of Visa by 4.4% during the 1st quarter. Centric Wealth Management now owns 18,270 shares of the credit-card processor's stock worth $4,908,000 after purchasing an additional 774 shares in the last quarter. Klingman & Associates LLC increased its stake in shares of Visa by 1.1% during the 1st quarter. Klingman & Associates LLC now owns 3,717 shares of the credit-card processor's stock worth $1,037,000 after purchasing an additional 39 shares in the last quarter. Finally, Oak Ridge Investments LLC increased its stake in shares of Visa by 4.0% during the 1st quarter. Oak Ridge Investments LLC now owns 64,229 shares of the credit-card processor's stock worth $17,925,000 after purchasing an additional 2,459 shares in the last quarter. 82.15% of the stock is owned by hedge funds and other institutional investors.
About Visa
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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.
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