Masso Torrence Wealth Management Inc. Has $968,000 Stake in Visa Inc. (NYSE:V)

Masso Torrence Wealth Management Inc. lifted its holdings in Visa Inc. (NYSE:V) by 2.7% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 3,689 shares of the credit-card processor’s stock after acquiring 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.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Livelsberger Financial Advisory acquired a new position in shares of Visa in the 4th quarter valued at $25,000. Westend Capital Management LLC bought a new position in Visa during the first quarter worth about $25,000. Frank Rimerman Advisors LLC acquired a new position in shares of Visa during the 4th quarter worth about $33,000. TruNorth Capital Management LLC increased its stake in shares of Visa by 211.9% in the 2nd quarter. TruNorth Capital Management LLC now owns 131 shares of the credit-card processor’s stock valued at $34,000 after acquiring an additional 89 shares during the last quarter. Finally, Bbjs Financial Advisors LLC acquired a new stake in shares of Visa in the 2nd quarter valued at approximately $35,000. 82.15% of the stock is owned by institutional investors and hedge funds.

Visa Stock Up 0.6 %

V traded up $1.57 during midday 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 company has a market capitalization 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 stock’s 50 day moving average price is $266.10 and its 200 day moving average price is $273.43. 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 52 week low of $227.78 and a 52 week high of $290.96.

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

Visa Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 3rd. Shareholders of record on Friday, August 9th will be paid 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 presently 23.24%.

Analysts Set New Price Targets

Several brokerages have issued reports on V. JPMorgan Chase & Co. increased their price target on Visa from $290.00 to $320.00 and gave the stock an “overweight” rating in a report on Tuesday. Evercore ISI cut their price target on shares of Visa from $335.00 to $330.00 and set an “outperform” rating on the stock in a research note on Tuesday, June 25th. Macquarie reissued an “outperform” rating and set a $300.00 price objective on shares of Visa in a research report on Wednesday, July 24th. Jefferies Financial Group cut their price objective on shares of Visa from $325.00 to $300.00 and set a “buy” rating on the stock in a research report on Wednesday, July 24th. Finally, Mizuho upped their target price on shares of Visa from $265.00 to $275.00 and gave the stock a “neutral” rating in a research note on Thursday, May 2nd. Six analysts have rated the stock with a hold rating, twenty-one have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, Visa presently has a consensus rating of “Moderate Buy” and an average price target of $308.50.

Visa Company 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.