Visa (NYSE:V) Price Target Increased to $190.00 by Analysts at Guggenheim
Visa (NYSE:V) had its target price upped by Guggenheim from $178.00 to $190.00 in a research report report published on Wednesday morning, The Fly reports. They currently have a positive rating on the credit-card processor’s stock.
Several other analysts have also recently weighed in on the stock. Citigroup set a $317.00 price objective on shares of Mastercard and gave the stock a buy rating in a research note on Friday, July 19th. Bank of America boosted their price objective on shares of Visa from $177.00 to $192.00 and gave the stock a buy rating in a research note on Monday, June 17th. Zacks Investment Research cut shares of Zai Lab from a buy rating to a hold rating in a research note on Saturday, June 15th. Barclays set a $89.00 price objective on shares of Franco Nevada and gave the stock a hold rating in a research note on Friday, July 19th. Finally, Wedbush reissued an outperform rating and issued a $65.00 price objective (up previously from $60.00) on shares of Walker & Dunlop in a research note on Wednesday, July 3rd. Two investment analysts have rated the stock with a hold rating and twenty-three have given a buy rating to the stock. The stock presently has a consensus rating of Buy and a consensus target price of $195.29.
NYSE V opened at $183.69 on Wednesday. The business’s fifty day moving average is $175.24. The company has a market capitalization of $362.47 billion, a PE ratio of 39.85, a PEG ratio of 2.05 and a beta of 0.96. Visa has a fifty-two week low of $121.60 and a fifty-two week high of $183.99. The company has a current ratio of 1.69, a quick ratio of 1.62 and a debt-to-equity ratio of 0.57.
The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 3rd. Shareholders of record on Friday, August 16th will be given a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a yield of 0.54%. The ex-dividend date of this dividend is Thursday, August 15th. Visa’s payout ratio is 21.69%.
In other Visa news, EVP William M. Sheedy sold 75,676 shares of the company’s stock in a transaction dated Tuesday, April 30th. The shares were sold at an average price of $165.24, for a total value of $12,504,702.24. Following the completion of the sale, the executive vice president now directly owns 300,114 shares of the company’s stock, valued at approximately $49,590,837.36. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Corporate insiders own 0.17% of the company’s stock.
A number of hedge funds have recently modified their holdings of the business. FMR LLC grew its position in shares of Visa by 1.9% during the 1st quarter. FMR LLC now owns 92,255,849 shares of the credit-card processor’s stock valued at $14,409,440,000 after acquiring an additional 1,731,813 shares during the period. Oregon Public Employees Retirement Fund grew its position in shares of Visa by 11,319.8% during the 4th quarter. Oregon Public Employees Retirement Fund now owns 86,570,056 shares of the credit-card processor’s stock valued at $656,000 after acquiring an additional 85,811,983 shares during the period. Lunia Capital LP grew its position in shares of Visa by 13,370.7% during the 4th quarter. Lunia Capital LP now owns 23,454,446 shares of the credit-card processor’s stock valued at $23,454,000 after acquiring an additional 23,280,332 shares during the period. Fisher Asset Management LLC grew its position in shares of Visa by 3.0% during the 4th quarter. Fisher Asset Management LLC now owns 18,622,097 shares of the credit-card processor’s stock valued at $2,456,999,000 after acquiring an additional 534,608 shares during the period. Finally, Jennison Associates LLC grew its position in shares of Visa by 1.6% during the 4th quarter. Jennison Associates LLC now owns 17,301,374 shares of the credit-card processor’s stock valued at $2,282,743,000 after acquiring an additional 271,382 shares during the period. 81.00% of the stock is owned by institutional investors and hedge funds.
Visa Company Profile
Visa Inc operates as a payments technology company worldwide. The company facilitates commerce through the transfer of value and information among consumers, merchants, financial institutions, businesses, strategic partners, and government entities. It operates VisaNet, a processing network that enables authorization, clearing, and settlement of payment transactions; and offers fraud protection for account holders and assured payment for merchants.
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