Masso Torrence Wealth Management Inc. Boosts Stock Position in Visa Inc. (NYSE:V)

Masso Torrence Wealth Management Inc. increased its stake in shares of Visa Inc. (NYSE:V) by 2.7% during the second quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 3,689 shares of the credit-card processor’s stock after buying an additional 98 shares during the quarter. Masso Torrence Wealth Management Inc.’s holdings in Visa were worth $968,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in V. Vanguard Group Inc. increased its holdings in shares of Visa by 0.6% during the 1st quarter. Vanguard Group Inc. now owns 142,202,830 shares of the credit-card processor’s stock worth $39,685,966,000 after buying an additional 788,908 shares during the last quarter. Capital International Investors increased its stake in Visa by 2.7% during the first quarter. Capital International Investors now owns 23,570,391 shares of the credit-card processor’s stock worth $6,578,025,000 after acquiring an additional 626,618 shares during the last quarter. Capital World Investors raised its position in Visa by 5.4% in the first quarter. Capital World Investors now owns 18,863,796 shares of the credit-card processor’s stock valued at $5,264,508,000 after purchasing an additional 968,008 shares during the period. Norges Bank acquired a new position in shares of Visa in the 4th quarter valued at $3,895,015,000. Finally, Jennison Associates LLC grew its holdings in shares of Visa by 0.7% during the 4th quarter. Jennison Associates LLC now owns 11,824,113 shares of the credit-card processor’s stock worth $3,078,408,000 after purchasing an additional 85,123 shares during the period. Institutional investors and hedge funds own 82.15% of the company’s stock.

Analyst Ratings Changes

A number of research analysts have commented on the stock. Mizuho upped their target price on shares of Visa from $265.00 to $275.00 and gave the company a “neutral” rating in a research report on Thursday, May 2nd. Jefferies Financial Group decreased their price target on Visa from $325.00 to $300.00 and set a “buy” rating on the stock in a research note on Wednesday, July 24th. Bank of America restated a “neutral” rating and set a $297.00 price target (down from $305.00) on shares of Visa in a research report on Wednesday, July 10th. UBS Group increased their target price on Visa from $315.00 to $325.00 and gave the stock a “buy” rating in a research note on Wednesday, April 24th. Finally, Macquarie reaffirmed an “outperform” rating and issued a $300.00 target price on shares of Visa in a research report on Wednesday, July 24th. Six analysts have rated the stock with a hold rating, twenty-one have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $308.50.

Visa Stock Up 0.6 %

Visa stock traded up $1.57 during mid-day trading on Tuesday, hitting $268.04. The company had a trading volume of 6,734,110 shares, compared to its average volume of 7,221,004. The stock has a market cap of $488.45 billion, a price-to-earnings ratio of 29.95, a PEG ratio of 1.89 and a beta of 0.95. The company has a quick ratio of 1.37, a current ratio of 1.37 and a debt-to-equity ratio of 0.54. Visa Inc. has a 1 year low of $227.78 and a 1 year high of $290.96. The business has a fifty day moving average of $266.10 and a 200 day moving average of $273.43.

Visa (NYSE:V) last posted its earnings results on Tuesday, July 23rd. The credit-card processor reported $2.42 EPS for the quarter, meeting analysts’ consensus estimates of $2.42. Visa had a net margin of 54.72% and a return on equity of 51.94%. The firm had revenue of $8.90 billion for the quarter, compared to the consensus estimate of $8.92 billion. During the same period last year, the firm posted $2.16 EPS. The company’s revenue was up 9.6% on a year-over-year basis. On average, sell-side analysts expect that Visa Inc. will post 9.91 earnings per share for the current fiscal year.

Visa Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Tuesday, September 3rd. Shareholders of record on Friday, August 9th will be given a dividend of $0.52 per share. This represents a $2.08 annualized dividend and a yield of 0.78%. The ex-dividend date is Friday, August 9th. Visa’s dividend payout ratio (DPR) is 23.24%.

About Visa

Visa Inc operates as a payment technology company in the United States and internationally. The company operates VisaNet, a transaction processing network that enables authorization, clearing, and settlement of payment transactions. It also offers credit, debit, and prepaid card products; tap to pay, tokenization, and click to pay services; Visa Direct, a solution that facilitates the delivery of funds to eligible cards, deposit accounts, and digital wallets; Visa B2B Connect, a multilateral business-to-business cross-border payments network; Visa Cross-Border Solution, a cross-border consumer payments solution; and Visa DPS that provides a range of value-added services, including fraud mitigation, dispute management, data analytics, campaign management, a suite of digital solutions, and contact center services.