Visa (NYSE:V – Get Rating) had its price objective raised by research analysts at Oppenheimer from $210.00 to $237.00 in a research note issued to investors on Wednesday, The Fly reports. Oppenheimer’s target price would suggest a potential upside of 5.86% from the stock’s current price.
A number of other research firms have also recently commented on V. Keefe, Bruyette & Woods dropped their price objective on Visa from $275.00 to $246.00 in a research report on Monday, October 10th. Barclays lifted their price objective on Visa from $264.00 to $266.00 and gave the stock an “overweight” rating in a research report on Monday. Citigroup lowered their price target on Visa from $254.00 to $238.00 and set a “buy” rating for the company in a report on Wednesday, October 26th. Truist Financial lifted their price target on Visa from $235.00 to $260.00 in a report on Friday, January 20th. Finally, Wells Fargo & Company lifted their price target on Visa from $225.00 to $250.00 and gave the company an “overweight” rating in a report on Friday, December 2nd. One investment analyst has rated the stock with a sell rating, two have given a hold rating and twenty-one have assigned a buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $256.15.
Visa Trading Down 0.1 %
NYSE:V opened at $223.89 on Wednesday. The company has a market capitalization of $421.69 billion, a PE ratio of 32.03, a price-to-earnings-growth ratio of 1.80 and a beta of 0.95. The company has a quick ratio of 1.45, a current ratio of 1.45 and a debt-to-equity ratio of 0.61. Visa has a 52-week low of $174.60 and a 52-week high of $250.58. The stock has a fifty day simple moving average of $212.92 and a 200-day simple moving average of $204.65.
Visa declared that its Board of Directors has initiated a share buyback plan on Tuesday, October 25th that allows the company to repurchase $12.00 billion in outstanding shares. This repurchase authorization allows the credit-card processor to repurchase up to 3.1% of its shares through open market purchases. Shares repurchase plans are often an indication that the company’s leadership believes its stock is undervalued.
Insider Buying and Selling at Visa
In other Visa news, President Ryan Mcinerney sold 58,197 shares of the company’s stock in a transaction that occurred on Monday, January 9th. The stock was sold at an average price of $62.47, for a total value of $3,635,566.59. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. In related news, insider Rajat Taneja sold 25,627 shares of the company’s stock in a transaction that occurred on Friday, December 2nd. The stock was sold at an average price of $216.67, for a total transaction of $5,552,602.09. Following the sale, the insider now directly owns 232,112 shares of the company’s stock, valued at approximately $50,291,707.04. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, President Ryan Mcinerney sold 58,197 shares of the company’s stock in a transaction that occurred on Monday, January 9th. The shares were sold at an average price of $62.47, for a total value of $3,635,566.59. The disclosure for this sale can be found here. 0.21% of the stock is currently owned by corporate insiders.
Institutional Inflows and Outflows
A number of institutional investors have recently added to or reduced their stakes in V. MEAG MUNICH ERGO Kapitalanlagegesellschaft mbH grew its stake in shares of Visa by 2.7% in the second quarter. MEAG MUNICH ERGO Kapitalanlagegesellschaft mbH now owns 34,800 shares of the credit-card processor’s stock worth $6,852,000 after purchasing an additional 913 shares in the last quarter. Venture Visionary Partners LLC grew its stake in shares of Visa by 2.9% in the second quarter. Venture Visionary Partners LLC now owns 82,339 shares of the credit-card processor’s stock worth $16,212,000 after purchasing an additional 2,318 shares in the last quarter. Pflug Koory LLC grew its stake in shares of Visa by 14.4% in the second quarter. Pflug Koory LLC now owns 2,838 shares of the credit-card processor’s stock worth $559,000 after purchasing an additional 357 shares in the last quarter. First City Capital Management Inc. bought a new position in shares of Visa in the third quarter worth $213,000. Finally, NBW Capital LLC grew its stake in shares of Visa by 1.4% in the second quarter. NBW Capital LLC now owns 17,535 shares of the credit-card processor’s stock worth $3,452,000 after purchasing an additional 234 shares in the last quarter. 81.87% of the stock is currently owned by institutional investors.
Visa Company Profile
Visa, Inc engages in the provision of digital payment services. It also facilitates global commerce through the transfer of value and information among a global network of consumers, merchants, financial institutions, businesses, strategic partners, and government entities. It offers debit cards, credit cards, prepaid products, commercial payment solutions, and global automated teller machines (ATMs).
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