Several other equities research analysts also recently issued reports on the company. Barclays set a $89.00 price target on Franco Nevada and gave the stock a hold rating in a report on Friday. Morgan Stanley upped their price target on Visa from $175.00 to $191.00 and gave the stock an overweight rating in a report on Thursday, July 11th. Wedbush reiterated an outperform rating and set a $65.00 price target (up previously from $60.00) on shares of Walker & Dunlop in a report on Wednesday, July 3rd. Wells Fargo & Co upped their price objective on Apollo Global Management from $38.00 to $42.00 and gave the company an outperform rating in a research note on Wednesday, July 10th. Finally, BMO Capital Markets set a $32.00 price objective on Axalta Coating Systems and gave the company a hold rating in a research note on Friday, April 26th. Two equities research analysts have rated the stock with a hold rating and twenty-three have given a buy rating to the stock. The company presently has an average rating of Buy and a consensus price target of $187.46.
Visa stock traded up $0.33 during trading on Friday, hitting $180.90. 6,701,147 shares of the company were exchanged, compared to its average volume of 7,766,452. The firm has a 50 day simple moving average of $174.15. Visa has a 52 week low of $121.60 and a 52 week high of $181.84. The company has a market capitalization of $360.43 billion, a P/E ratio of 39.24, a P/E/G ratio of 2.03 and a beta of 0.96. The company has a debt-to-equity ratio of 0.58, a current ratio of 1.62 and a quick ratio of 1.62.
Visa (NYSE:V) last announced its quarterly earnings results on Tuesday, July 23rd. The credit-card processor reported $1.37 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $1.32 by $0.05. Visa had a return on equity of 40.56% and a net margin of 51.34%. The business had revenue of $5.84 billion during the quarter, compared to the consensus estimate of $5.70 billion. During the same quarter in the prior year, the company posted $1.20 earnings per share. Visa’s revenue was up 11.5% compared to the same quarter last year. Equities analysts expect that Visa will post 5.37 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Tuesday, September 3rd. Stockholders of record on Friday, August 16th will be given a dividend of $0.25 per share. The ex-dividend date is Thursday, August 15th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 0.55%. Visa’s dividend payout ratio is presently 21.69%.
In other news, EVP William M. Sheedy sold 75,676 shares of the company’s stock in a transaction on Tuesday, April 30th. The stock was sold at an average price of $165.24, for a total transaction of $12,504,702.24. Following the transaction, the executive vice president now 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 can be accessed through this link. 0.17% of the stock is owned by corporate insiders.
Several hedge funds and other institutional investors have recently modified their holdings of the company. Laurel Wealth Advisors Inc. lifted its holdings in Visa by 12.0% during the 1st quarter. Laurel Wealth Advisors Inc. now owns 7,181 shares of the credit-card processor’s stock worth $1,122,000 after purchasing an additional 767 shares in the last quarter. Kayne Anderson Rudnick Investment Management LLC increased its stake in Visa by 18.2% in the 1st quarter. Kayne Anderson Rudnick Investment Management LLC now owns 406,519 shares of the credit-card processor’s stock worth $63,494,000 after acquiring an additional 62,736 shares during the last quarter. Commonwealth Bank of Australia increased its stake in Visa by 6.9% in the 4th quarter. Commonwealth Bank of Australia now owns 94,679 shares of the credit-card processor’s stock worth $12,488,000 after acquiring an additional 6,088 shares during the last quarter. WINTON GROUP Ltd increased its stake in Visa by 0.7% in the 4th quarter. WINTON GROUP Ltd now owns 14,060 shares of the credit-card processor’s stock worth $1,855,000 after acquiring an additional 98 shares during the last quarter. Finally, First Manhattan Co. increased its stake in Visa by 35.3% in the 4th quarter. First Manhattan Co. now owns 368,224 shares of the credit-card processor’s stock worth $48,583,000 after acquiring an additional 96,015 shares during the last quarter. 81.00% of the stock is currently owned by hedge funds and other institutional investors.
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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