Visa (NYSE:V) Price Target Raised to $391.00 at Oppenheimer

Visa (NYSE:V - Free Report) had its target price lifted by Oppenheimer from $390.00 to $391.00 in a research report sent to investors on Wednesday,Benzinga reports. Oppenheimer currently has an outperform rating on the credit-card processor's stock.

V has been the subject of a number of other reports. UBS Group upped their price objective on Visa from $395.00 to $405.00 and gave the stock a "buy" rating in a report on Wednesday, May 28th. Piper Sandler upped their price target on Visa from $383.00 to $384.00 and gave the stock an "overweight" rating in a research note on Wednesday, April 30th. Jefferies Financial Group lifted their price objective on Visa from $400.00 to $410.00 and gave the company a "buy" rating in a research note on Tuesday, May 27th. Citigroup began coverage on Visa in a report on Monday, June 2nd. They set a "buy" rating for the company. Finally, William Blair restated an "outperform" rating on shares of Visa in a report on Wednesday, April 30th. Five analysts have rated the stock with a hold rating, twenty-three have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average target price of $372.84.

Visa Trading Down 0.4%

V traded down $1.48 during midday trading on Wednesday, hitting $353.99. The company's stock had a trading volume of 5,130,608 shares, compared to its average volume of 6,860,270. Visa has a 52-week low of $252.70 and a 52-week high of $375.51. The firm has a 50-day moving average price of $354.48 and a two-hundred day moving average price of $340.57. The company has a current ratio of 1.08, a quick ratio of 1.08 and a debt-to-equity ratio of 0.45. The firm has a market cap of $653.17 billion, a P/E ratio of 35.58, a PEG ratio of 2.41 and a beta of 0.92.

Visa (NYSE:V - Get Free Report) last released its earnings results on Tuesday, April 29th. The credit-card processor reported $2.76 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.68 by $0.08. Visa had a net margin of 52.86% and a return on equity of 56.28%. The business had revenue of $9.59 billion for the quarter, compared to analysts' expectations of $9.57 billion. During the same period last year, the company earned $2.51 earnings per share. The company's quarterly revenue was up 9.3% on a year-over-year basis. On average, research analysts anticipate that Visa will post 11.3 earnings per share for the current year.

Visa Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Monday, June 2nd. Stockholders of record on Tuesday, May 13th were issued a $0.59 dividend. The ex-dividend date was Tuesday, May 13th. This represents a $2.36 dividend on an annualized basis and a dividend yield of 0.67%. Visa's dividend payout ratio (DPR) is 23.72%.

Insiders Place Their Bets

In related news, General Counsel Julie B. Rottenberg sold 2,575 shares of the business's stock in a transaction that occurred on Thursday, May 1st. The stock was sold at an average price of $345.58, for a total transaction of $889,868.50. Following the completion of the transaction, the general counsel owned 11,925 shares in the company, valued at $4,121,041.50. The trade was a 17.76% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Paul D. Fabara sold 11,636 shares of the stock in a transaction on Wednesday, June 11th. The stock was sold at an average price of $375.00, for a total value of $4,363,500.00. Following the completion of the sale, the insider directly owned 26,413 shares in the company, valued at $9,904,875. This represents a 30.58% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 92,478 shares of company stock valued at $33,717,733. Company insiders own 0.13% of the company's stock.

Hedge Funds Weigh In On Visa

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. Hirtle Callaghan & Co LLC increased its position in shares of Visa by 1.3% during the fourth quarter. Hirtle Callaghan & Co LLC now owns 2,291 shares of the credit-card processor's stock valued at $724,000 after acquiring an additional 29 shares during the last quarter. FWL Investment Management LLC raised its position in Visa by 0.5% in the fourth quarter. FWL Investment Management LLC now owns 6,344 shares of the credit-card processor's stock worth $2,005,000 after acquiring an additional 29 shares during the period. Yeomans Consulting Group Inc. boosted its stake in Visa by 2.9% in the first quarter. Yeomans Consulting Group Inc. now owns 1,027 shares of the credit-card processor's stock valued at $360,000 after acquiring an additional 29 shares during the last quarter. Semus Wealth Partners LLC raised its holdings in shares of Visa by 0.8% in the 1st quarter. Semus Wealth Partners LLC now owns 3,449 shares of the credit-card processor's stock worth $1,209,000 after purchasing an additional 29 shares during the period. Finally, Strategic Family Wealth Counselors L.L.C. lifted its stake in Visa by 0.4% in the fourth quarter. Strategic Family Wealth Counselors L.L.C. now owns 7,283 shares of the credit-card processor's stock valued at $2,302,000 after purchasing an additional 30 shares during the last quarter. 82.15% of the stock is owned by 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.