Visa (V) Reaches New 12-Month High at $150.42

Visa Inc (NYSE:V) reached a new 52-week high on Wednesday . The company traded as high as $150.42 and last traded at $150.20, with a volume of 134704 shares trading hands. The stock had previously closed at $149.99.

V has been the topic of several analyst reports. Loop Capital lifted their price objective on Visa to $157.00 and gave the stock a “buy” rating in a report on Thursday, July 26th. They noted that the move was a valuation call. Bank of America lifted their price objective on Visa from $155.00 to $163.00 and gave the stock a “buy” rating in a report on Monday, August 13th. SunTrust Banks lifted their price objective on Visa to $170.00 and gave the stock a “buy” rating in a report on Thursday, July 26th. They noted that the move was a valuation call. Wolfe Research initiated coverage on Visa in a report on Tuesday, July 17th. They issued an “outperform” rating on the stock. Finally, Oppenheimer lifted their price objective on Visa from $143.00 to $154.00 and gave the stock an “outperform” rating in a report on Tuesday, July 17th. Two investment analysts have rated the stock with a hold rating and thirty-two have given a buy rating to the company’s stock. Visa currently has a consensus rating of “Buy” and a consensus target price of $151.22.

The company has a debt-to-equity ratio of 0.60, a current ratio of 1.69 and a quick ratio of 1.69. The company has a market capitalization of $303.33 billion, a PE ratio of 43.03, a PEG ratio of 1.85 and a beta of 1.09.

Visa (NYSE:V) last posted its earnings results on Wednesday, July 25th. The credit-card processor reported $1.20 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $1.09 by $0.11. The company had revenue of $5.24 billion for the quarter, compared to analysts’ expectations of $5.09 billion. Visa had a return on equity of 36.09% and a net margin of 47.91%. Visa’s quarterly revenue was up 14.8% on a year-over-year basis. During the same period last year, the firm earned $0.86 earnings per share. equities analysts anticipate that Visa Inc will post 4.61 EPS for the current fiscal year.

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, September 4th. Shareholders of record on Friday, August 17th were given a dividend of $0.21 per share. The ex-dividend date of this dividend was Thursday, August 16th. This represents a $0.84 annualized dividend and a yield of 0.56%. Visa’s payout ratio is 24.14%.

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

Several institutional investors and hedge funds have recently modified their holdings of the company. Bedel Financial Consulting Inc. boosted its holdings in Visa by 24.2% in the 2nd quarter. Bedel Financial Consulting Inc. now owns 1,825 shares of the credit-card processor’s stock worth $242,000 after buying an additional 356 shares during the period. Townsend & Associates Inc boosted its holdings in Visa by 6.1% in the 2nd quarter. Townsend & Associates Inc now owns 6,244 shares of the credit-card processor’s stock worth $827,000 after buying an additional 361 shares during the period. LLBH Private Wealth Management LLC boosted its holdings in Visa by 14.7% in the 2nd quarter. LLBH Private Wealth Management LLC now owns 2,821 shares of the credit-card processor’s stock worth $374,000 after buying an additional 362 shares during the period. Signature Estate & Investment Advisors LLC boosted its holdings in Visa by 36.8% in the 2nd quarter. Signature Estate & Investment Advisors LLC now owns 1,357 shares of the credit-card processor’s stock worth $180,000 after buying an additional 365 shares during the period. Finally, Carroll Financial Associates Inc. boosted its holdings in Visa by 7.2% in the 2nd quarter. Carroll Financial Associates Inc. now owns 5,487 shares of the credit-card processor’s stock worth $726,000 after buying an additional 368 shares during the period. 80.13% of the stock is currently owned by hedge funds and other institutional investors.

About Visa (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.

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