Visa (NYSE:V) Price Target Cut to $397.00 by Analysts at Truist Financial

Visa (NYSE:V - Free Report) had its target price reduced by Truist Financial from $400.00 to $397.00 in a research report released on Thursday morning,Benzinga reports. They currently have a buy rating on the credit-card processor's stock.

Several other brokerages also recently weighed in on V. Evercore ISI started coverage on Visa in a report on Wednesday, April 9th. They issued an "in-line" rating and a $330.00 price target for the company. Mizuho upgraded Visa from a "neutral" rating to an "outperform" rating and boosted their price target for the company from $359.00 to $425.00 in a report on Thursday, June 5th. Oppenheimer boosted their price target on Visa from $390.00 to $391.00 and gave the company an "outperform" rating in a report on Wednesday, July 2nd. Citigroup started coverage on Visa in a report on Monday, June 2nd. They issued a "buy" rating for the company. Finally, Jefferies Financial Group boosted their price target on Visa from $400.00 to $410.00 and gave the company a "buy" rating in a report on Tuesday, May 27th. Five analysts have rated the stock with a hold rating, twenty-three have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $375.52.

Visa Price Performance

Shares of Visa stock traded down $0.91 during trading on Thursday, hitting $348.90. 4,916,998 shares of the company were exchanged, compared to its average volume of 6,790,746. The company has a quick ratio of 1.08, a current ratio of 1.08 and a debt-to-equity ratio of 0.45. Visa has a fifty-two week low of $252.70 and a fifty-two week high of $375.51. The stock has a market capitalization of $643.78 billion, a price-to-earnings ratio of 35.07, a P/E/G ratio of 2.37 and a beta of 0.92. The firm has a 50 day moving average price of $356.90 and a 200 day moving average price of $343.40.

Visa (NYSE:V - Get Free Report) last issued its quarterly earnings data 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 return on equity of 56.28% and a net margin of 52.86%. The firm had revenue of $9.59 billion during the quarter, compared to the consensus estimate of $9.57 billion. During the same period in the previous year, the firm posted $2.51 EPS. The company's quarterly revenue was up 9.3% compared to the same quarter last year. On average, equities analysts expect that Visa will post 11.3 earnings per share for the current fiscal year.

Visa Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, June 2nd. Shareholders of record on Tuesday, May 13th were given a $0.59 dividend. The ex-dividend date of this dividend was Tuesday, May 13th. This represents a $2.36 dividend on an annualized basis and a yield of 0.68%. Visa's payout ratio is currently 23.72%.

Insider Buying and Selling at Visa

In other Visa news, General Counsel Julie B. Rottenberg sold 2,575 shares of the company's stock in a transaction dated Thursday, May 1st. The shares were sold at an average price of $345.58, for a total value of $889,868.50. Following the completion of the transaction, the general counsel directly owned 11,925 shares of the company's stock, valued at $4,121,041.50. This represents a 17.76% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, CEO Ryan Mcinerney sold 8,630 shares of the company's stock in a transaction dated Tuesday, July 1st. The shares were sold at an average price of $353.82, for a total transaction of $3,053,466.60. Following the completion of the transaction, the chief executive officer directly owned 537 shares of the company's stock, valued at approximately $190,001.34. The trade was a 94.14% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 101,108 shares of company stock valued at $36,771,200 in the last ninety days. 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 V. Vanguard Group Inc. raised its stake in shares of Visa by 1.1% in the 1st quarter. Vanguard Group Inc. now owns 161,082,431 shares of the credit-card processor's stock valued at $56,452,949,000 after purchasing an additional 1,677,088 shares in the last quarter. Geode Capital Management LLC raised its stake in shares of Visa by 4.4% in the 4th quarter. Geode Capital Management LLC now owns 40,345,176 shares of the credit-card processor's stock valued at $12,729,901,000 after purchasing an additional 1,689,926 shares in the last quarter. Capital International Investors raised its stake in shares of Visa by 3.8% in the 4th quarter. Capital International Investors now owns 23,816,573 shares of the credit-card processor's stock valued at $7,526,660,000 after purchasing an additional 866,596 shares in the last quarter. Capital World Investors raised its stake in shares of Visa by 1.0% in the 4th quarter. Capital World Investors now owns 23,277,622 shares of the credit-card processor's stock valued at $7,356,614,000 after purchasing an additional 241,057 shares in the last quarter. Finally, Northern Trust Corp raised its stake in shares of Visa by 4.0% in the 1st quarter. Northern Trust Corp now owns 18,987,013 shares of the credit-card processor's stock valued at $6,654,189,000 after purchasing an additional 726,299 shares in the last quarter. 82.15% of the stock is owned by hedge funds and other institutional investors.

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.