Visa (V) Reaches New 12-Month High at $147.75

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Visa Inc (NYSE:V)’s share price hit a new 52-week high during mid-day trading on Tuesday . The company traded as high as $147.75 and last traded at $147.31, with a volume of 276828 shares changing hands. The stock had previously closed at $146.89.

A number of brokerages have issued reports on V. Royal Bank of Canada increased their price target on Visa to $170.00 and gave the company an “outperform” rating in a research note on Wednesday. Bank of America raised their price objective on Visa from $155.00 to $163.00 and gave the stock a “buy” rating in a research note on Monday, August 13th. Zacks Investment Research lowered Visa from a “buy” rating to a “hold” rating in a research note on Wednesday, August 1st. Cantor Fitzgerald raised their price objective on Visa to $160.00 and gave the stock an “overweight” rating in a research note on Thursday, July 26th. Finally, SunTrust Banks raised their price objective on Visa to $170.00 and gave the stock a “buy” rating in a research note on Thursday, July 26th. They noted that the move was a valuation call. Three equities research analysts have rated the stock with a hold rating and thirty have given a buy rating to the company. The stock has an average rating of “Buy” and a consensus target price of $149.35.

The firm has a market cap of $298.81 billion, a PE ratio of 41.00, a price-to-earnings-growth ratio of 1.82 and a beta of 1.09. The company has a quick ratio of 1.69, a current ratio of 1.69 and a debt-to-equity ratio of 0.60.

Visa (NYSE:V) last released its earnings results on Wednesday, July 25th. The credit-card processor reported $1.20 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $1.09 by $0.11. The company had revenue of $5.24 billion during the quarter, compared to analyst estimates of $5.09 billion. Visa had a return on equity of 36.09% and a net margin of 47.91%. The company’s revenue for the quarter was up 14.8% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.86 earnings per share. sell-side analysts forecast that Visa Inc will post 4.59 earnings per share for the current fiscal year.

The firm also recently announced a quarterly dividend, which was paid on Tuesday, September 4th. Stockholders of record on Friday, August 17th were issued a $0.21 dividend. The ex-dividend date of this dividend was Thursday, August 16th. This represents a $0.84 dividend on an annualized basis and a dividend yield of 0.59%. Visa’s payout ratio is currently 24.14%.

In related news, CFO Vasant M. Prabhu sold 25,064 shares of the stock in a transaction on Wednesday, August 8th. The stock was sold at an average price of $140.56, for a total transaction of $3,522,995.84. Following the completion of the sale, the chief financial officer now directly owns 58,232 shares in the company, valued at $8,185,089.92. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, SVP James H. Hoffmeister sold 6,912 shares of the stock in a transaction on Monday, August 6th. The stock was sold at an average price of $140.01, for a total value of $967,749.12. Following the sale, the senior vice president now owns 6,912 shares of the company’s stock, valued at $967,749.12. The disclosure for this sale can be found here. 0.14% of the stock is owned by corporate insiders.

Several large investors have recently made changes to their positions in the stock. Sturgeon Ventures LLP raised its holdings in Visa by 21.4% during the second quarter. Sturgeon Ventures LLP now owns 17,248 shares of the credit-card processor’s stock valued at $2,283,000 after buying an additional 3,039 shares in the last quarter. Chicago Partners Investment Group LLC raised its holdings in Visa by 14.8% during the second quarter. Chicago Partners Investment Group LLC now owns 7,020 shares of the credit-card processor’s stock valued at $930,000 after buying an additional 904 shares in the last quarter. Truvestments Capital LLC bought a new position in Visa during the second quarter valued at about $202,000. HM Payson & Co. raised its holdings in Visa by 5.3% during the second quarter. HM Payson & Co. now owns 216,607 shares of the credit-card processor’s stock valued at $28,690,000 after buying an additional 10,986 shares in the last quarter. Finally, BDO Wealth Advisors LLC raised its holdings in Visa by 31.8% during the second quarter. BDO Wealth Advisors LLC now owns 1,618 shares of the credit-card processor’s stock valued at $214,000 after buying an additional 390 shares in the last quarter. Institutional investors and hedge funds own 80.27% of the company’s stock.

Visa Company Profile (NYSE:V)

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.

Further Reading: Market Capitalization in the Stock Market

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