Visa (NYSE:V) Price Target Raised to $240.00 at Morgan Stanley

Visa (NYSE:V) had its price target hoisted by Morgan Stanley from $220.00 to $240.00 in a research note issued to investors on Thursday, BenzingaRatingsTable reports. The brokerage currently has an overweight rating on the credit-card processor’s stock.

V has been the topic of several other reports. Wells Fargo & Co raised their price objective on Visa from $200.00 to $213.00 and gave the company an overweight rating in a research note on Monday, January 6th. Nomura reaffirmed a buy rating and issued a $233.00 price objective on shares of Visa in a research note on Monday. Moffett Nathanson raised their price objective on Visa from to in a research note on Tuesday, January 7th. Raymond James raised their price objective on Visa from $193.00 to $205.00 and gave the company an outperform rating in a research note on Friday, October 25th. Finally, Guggenheim set a $194.00 price objective on Visa and gave the company a buy rating in a research note on Friday, October 25th. Three research analysts have rated the stock with a hold rating and twenty-five have given a buy rating to the company’s stock. The stock has a consensus rating of Buy and an average target price of $209.68.

Shares of V traded down $1.52 during trading hours on Thursday, hitting $205.00. 7,811,833 shares of the company were exchanged, compared to its average volume of 8,583,362. The company has a market cap of $409.42 billion, a price-to-earnings ratio of 38.53, a P/E/G ratio of 2.16 and a beta of 0.93. Visa has a fifty-two week low of $133.30 and a fifty-two week high of $210.13. The company has a quick ratio of 1.56, a current ratio of 1.56 and a debt-to-equity ratio of 0.57. The firm’s fifty day moving average is $190.82 and its 200 day moving average is $181.51.

Visa (NYSE:V) last released its earnings results on Thursday, October 24th. The credit-card processor reported $1.47 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.43 by $0.04. The company had revenue of $6.14 billion for the quarter, compared to analyst estimates of $6.08 billion. Visa had a return on equity of 42.57% and a net margin of 52.57%. Visa’s quarterly revenue was up 12.9% on a year-over-year basis. During the same period in the prior year, the firm posted $1.21 EPS. Analysts anticipate that Visa will post 6.19 EPS for the current year.

In related news, CEO Alfred F. Kelly, Jr. sold 7,000 shares of the company’s stock in a transaction that occurred on Wednesday, October 30th. The stock was sold at an average price of $177.79, for a total value of $1,244,530.00. Following the sale, the chief executive officer now directly owns 55,446 shares in the company, valued at $9,857,744.34. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP William M. Sheedy sold 3,110 shares of the stock in a transaction that occurred on Wednesday, November 20th. The shares were sold at an average price of $182.52, for a total transaction of $567,637.20. Following the sale, the executive vice president now directly owns 227,740 shares of the company’s stock, valued at approximately $41,567,104.80. The disclosure for this sale can be found here. In the last three months, insiders sold 58,480 shares of company stock worth $10,606,182. 0.19% of the stock is currently owned by insiders.

Institutional investors and hedge funds have recently modified their holdings of the business. Johanson Financial Advisors Inc. boosted its position in shares of Visa by 18,464.0% during the 4th quarter. Johanson Financial Advisors Inc. now owns 5,185,286 shares of the credit-card processor’s stock valued at $27,592,000 after purchasing an additional 5,157,354 shares in the last quarter. BlackRock Inc. raised its position in Visa by 2.3% in the 2nd quarter. BlackRock Inc. now owns 123,791,138 shares of the credit-card processor’s stock valued at $21,483,952,000 after buying an additional 2,773,330 shares during the last quarter. California Public Employees Retirement System lifted its stake in Visa by 14.2% during the 3rd quarter. California Public Employees Retirement System now owns 6,306,099 shares of the credit-card processor’s stock valued at $1,084,712,000 after acquiring an additional 783,989 shares in the last quarter. SG Americas Securities LLC lifted its stake in Visa by 243.2% during the 3rd quarter. SG Americas Securities LLC now owns 997,375 shares of the credit-card processor’s stock valued at $171,558,000 after acquiring an additional 706,744 shares in the last quarter. Finally, PGGM Investments bought a new position in Visa during the 4th quarter valued at $119,100,000. 81.32% of the stock is currently owned by institutional investors and hedge funds.

About Visa

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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