Masso Torrence Wealth Management Inc. Purchases 261 Shares of Visa Inc. (NYSE:V)

Masso Torrence Wealth Management Inc. raised its position in Visa Inc. (NYSE:V) by 8.0% during the 4th quarter, HoldingsChannel reports. The fund owned 3,512 shares of the credit-card processor’s stock after buying an additional 261 shares during the quarter. Masso Torrence Wealth Management Inc.’s holdings in Visa were worth $914,000 as of its most recent SEC filing.

A number of other large investors have also recently bought and sold shares of V. International Assets Investment Management LLC grew its stake in Visa by 17,418.7% in the fourth quarter. International Assets Investment Management LLC now owns 4,737,229 shares of the credit-card processor’s stock valued at $1,233,338,000 after purchasing an additional 4,710,188 shares in the last quarter. FMR LLC boosted its holdings in shares of Visa by 4.7% in the 3rd quarter. FMR LLC now owns 50,357,747 shares of the credit-card processor’s stock valued at $11,582,785,000 after buying an additional 2,257,605 shares during the last quarter. J.P. Morgan Private Wealth Advisors LLC bought a new position in shares of Visa in the third quarter valued at $358,349,000. The Manufacturers Life Insurance Company increased its holdings in Visa by 34.1% during the third quarter. The Manufacturers Life Insurance Company now owns 3,929,979 shares of the credit-card processor’s stock worth $903,955,000 after buying an additional 999,167 shares during the last quarter. Finally, Envestnet Asset Management Inc. raised its position in Visa by 28.0% during the third quarter. Envestnet Asset Management Inc. now owns 3,983,190 shares of the credit-card processor’s stock worth $916,174,000 after acquiring an additional 871,439 shares in the last quarter. Institutional investors and hedge funds own 82.15% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts have recently commented on V shares. KeyCorp lifted their price objective on shares of Visa from $275.00 to $300.00 and gave the company an “overweight” rating in a research report on Monday, January 8th. UBS Group upped their price objective on Visa from $315.00 to $325.00 and gave the company a “buy” rating in a research note on Wednesday. Oppenheimer lifted their target price on Visa from $297.00 to $299.00 and gave the stock an “outperform” rating in a research note on Wednesday. Wedbush boosted their target price on Visa from $280.00 to $300.00 and gave the stock an “outperform” rating in a report on Wednesday. Finally, Barclays raised their price target on Visa from $304.00 to $319.00 and gave the company an “overweight” rating in a report on Monday, January 29th. Five investment analysts have rated the stock with a hold rating and nineteen have assigned a buy rating to the company. According to data from MarketBeat.com, Visa currently has a consensus rating of “Moderate Buy” and a consensus price target of $302.43.

Visa Price Performance

V stock traded up $2.25 during mid-day trading on Wednesday, hitting $276.36. The stock had a trading volume of 4,026,682 shares, compared to its average volume of 5,851,841. The firm has a fifty day simple moving average of $279.49 and a 200 day simple moving average of $263.90. The firm has a market capitalization of $507.54 billion, a P/E ratio of 31.86, a P/E/G ratio of 1.88 and a beta of 0.96. The company has a current ratio of 1.45, a quick ratio of 1.45 and a debt-to-equity ratio of 0.54. Visa Inc. has a 52 week low of $216.14 and a 52 week high of $290.96.

Visa (NYSE:V) last announced its quarterly earnings data on Tuesday, April 23rd. The credit-card processor reported $2.51 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.43 by $0.08. Visa had a net margin of 53.92% and a return on equity of 50.02%. The business had revenue of $8.78 billion for the quarter, compared to analysts’ expectations of $8.62 billion. During the same period last year, the firm posted $2.09 earnings per share. The firm’s quarterly revenue was up 9.9% compared to the same quarter last year. As a group, research analysts forecast that Visa Inc. will post 9.88 EPS for the current year.

Visa Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, March 1st. Investors of record on Friday, February 9th were given a dividend of $0.52 per share. The ex-dividend date was Thursday, February 8th. This represents a $2.08 annualized dividend and a dividend yield of 0.75%. Visa’s dividend payout ratio is currently 23.94%.

Insider Activity at Visa

In related news, CEO Ryan Mcinerney sold 8,200 shares of Visa stock in a transaction that occurred on Monday, April 1st. The shares were sold at an average price of $280.36, for a total transaction of $2,298,952.00. Following the sale, the chief executive officer now directly owns 538 shares of the company’s stock, valued at approximately $150,833.68. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In other news, CAO Peter M. Andreski sold 2,615 shares of the stock in a transaction on Wednesday, February 7th. The stock was sold at an average price of $278.88, for a total value of $729,271.20. Following the completion of the transaction, the chief accounting officer now directly owns 4,898 shares in the company, valued at approximately $1,365,954.24. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Ryan Mcinerney sold 8,200 shares of the business’s stock in a transaction on Monday, April 1st. The stock was sold at an average price of $280.36, for a total value of $2,298,952.00. Following the sale, the chief executive officer now owns 538 shares in the company, valued at approximately $150,833.68. The disclosure for this sale can be found here. Insiders have sold 18,965 shares of company stock valued at $5,256,352 over the last ninety days. 0.19% of the stock is owned by corporate insiders.

Visa Profile

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.