Visa Inc (V) Earns “Buy” Rating from Citigroup Inc

Visa Inc (V) Earns “Buy” Rating from Citigroup Inc

A number of other research firms have also weighed in on V. Vetr lowered Visa from a buy rating to a hold rating and set a $95.32 price objective on the stock. in a research report on Wednesday, May 3rd. Oppenheimer Holdings Inc. reiterated an outperform rating and set a $100.00 target price (up previously from $95.00) on shares of Visa in a research note on Tuesday, April 25th. CIBC boosted their target price on shares of Visa from $95.00 to $100.00 and gave the stock an outperform rating in a research note on Wednesday, April 26th. Royal Bank of Canada boosted their target price on shares of Visa from $97.00 to $98.00 and gave the stock an outperform rating in a research note on Friday, April 21st. Finally, Barclays PLC reiterated an overweight rating and set a $106.00 target price (up previously from $103.00) on shares of Visa in a research note on Sunday, April 23rd. Three equities research analysts have rated the stock with a hold rating, twenty-seven have given a buy rating and one has given a strong buy rating to the stock. The stock has an average rating of Buy and an average target price of $95.68.

Citigroup Inc reissued their buy rating on shares of Visa Inc (NYSE:V) in a research report report published on Thursday morning. Citigroup Inc currently has a $100.00 price objective on the credit-card processor’s stock.

Shares of Visa (V) opened at 94.72 on Thursday. The firm’s 50-day moving average price is $91.98 and its 200 day moving average price is $85.87. The company has a market cap of $218.47 billion, a PE ratio of 47.27 and a beta of 1.00. Visa has a 12 month low of $73.25 and a 12 month high of $95.38.

Visa (NYSE:V) last posted its quarterly earnings data on Thursday, April 20th. The credit-card processor reported $0.86 earnings per share for the quarter, topping analysts’ consensus estimates of $0.79 by $0.07. Visa had a return on equity of 26.48% and a net margin of 38.30%. The business had revenue of $4.48 billion for the quarter, compared to analyst estimates of $4.29 billion. During the same quarter in the prior year, the company earned $0.68 earnings per share. The company’s revenue was up 23.5% on a year-over-year basis. Equities research analysts anticipate that Visa will post $3.37 earnings per share for the current fiscal year.

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, June 6th. Stockholders of record on Friday, May 19th will be given a $0.165 dividend. The ex-dividend date is Wednesday, May 17th. This represents a $0.66 annualized dividend and a dividend yield of 0.70%. Visa’s dividend payout ratio is presently 26.09%.

In other news, Vice Chairman Ellen Richey sold 31,260 shares of the stock in a transaction that occurred on Tuesday, April 25th. The shares were sold at an average price of $91.94, for a total value of $2,874,044.40. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. 0.14% of the stock is owned by corporate insiders.

Several hedge funds have recently added to or reduced their stakes in the stock. BlackRock Inc. raised its stake in Visa by 2,635.2% in the first quarter. BlackRock Inc. now owns 113,209,633 shares of the credit-card processor’s stock valued at $10,060,940,000 after buying an additional 109,070,598 shares in the last quarter. Norges Bank acquired a new stake in Visa during the fourth quarter valued at approximately $1,335,803,000. Viking Global Investors LP raised its stake in Visa by 739.1% in the fourth quarter. Viking Global Investors LP now owns 4,846,485 shares of the credit-card processor’s stock valued at $378,123,000 after buying an additional 4,268,933 shares in the last quarter. Lone Pine Capital LLC raised its stake in Visa by 180.3% in the fourth quarter. Lone Pine Capital LLC now owns 6,551,477 shares of the credit-card processor’s stock valued at $511,146,000 after buying an additional 4,213,802 shares in the last quarter. Finally, Russell Investments Group Ltd. acquired a new stake in Visa during the fourth quarter valued at approximately $312,745,000. Institutional investors and hedge funds own 80.14% of the company’s stock.

About Visa

Visa Inc (Visa) is a payments technology company that connects consumers, merchants, financial institutions, businesses, strategic partners and government entities to electronic payments. The Company operates through payment services segment. The Company enables global commerce through the transfer of value and information among the participants.new TradingView.widget({ “height”: 400, “width”: 625, “symbol”: “V”, “interval”: “D”, “timezone”: “Etc/UTC”, “theme”: “White”, “style”: “1”, “locale”: “en”, “toolbar_bg”: “#f1f3f6”, “enable_publishing”: false, “hideideas”: true, “referral_id”: “2588”});

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