Massachusetts Wealth Management Invests $240,000 in Visa Inc. (NYSE:V)

Massachusetts Wealth Management purchased a new position in Visa Inc. (NYSE:V) in the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor purchased 861 shares of the credit-card processor’s stock, valued at approximately $240,000.

A number of other hedge funds have also made changes to their positions in the stock. Alaethes Wealth LLC grew its stake in shares of Visa by 0.4% in the fourth quarter. Alaethes Wealth LLC now owns 8,843 shares of the credit-card processor’s stock worth $2,302,000 after acquiring an additional 37 shares during the last quarter. Jessup Wealth Management Inc grew its stake in shares of Visa by 0.7% in the first quarter. Jessup Wealth Management Inc now owns 5,051 shares of the credit-card processor’s stock worth $1,410,000 after acquiring an additional 37 shares during the last quarter. Garden State Investment Advisory Services LLC boosted its stake in Visa by 1.8% during the fourth quarter. Garden State Investment Advisory Services LLC now owns 2,191 shares of the credit-card processor’s stock worth $571,000 after buying an additional 38 shares in the last quarter. Holistic Financial Partners boosted its stake in Visa by 2.0% during the fourth quarter. Holistic Financial Partners now owns 1,975 shares of the credit-card processor’s stock worth $514,000 after buying an additional 39 shares in the last quarter. Finally, GoalVest Advisory LLC boosted its stake in Visa by 3.4% during the fourth quarter. GoalVest Advisory LLC now owns 1,217 shares of the credit-card processor’s stock worth $317,000 after buying an additional 40 shares in the last quarter. 82.15% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at Visa

In other news, insider Paul D. Fabara sold 25,293 shares of the business’s stock in a transaction dated Wednesday, May 15th. The stock was sold at an average price of $277.15, for a total transaction of $7,009,954.95. Following the completion of the transaction, the insider now directly owns 17,894 shares in the company, valued at approximately $4,959,322.10. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In related news, Director Lloyd Carney sold 909 shares of the business’s stock in a transaction that occurred on Friday, April 26th. The stock was sold at an average price of $275.55, for a total value of $250,474.95. Following the completion of the transaction, the director now directly owns 2,591 shares in the company, valued at approximately $713,950.05. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Paul D. Fabara sold 25,293 shares of the business’s stock in a transaction that occurred on Wednesday, May 15th. The shares were sold at an average price of $277.15, for a total value of $7,009,954.95. Following the completion of the transaction, the insider now owns 17,894 shares of the company’s stock, valued at $4,959,322.10. The disclosure for this sale can be found here. Corporate insiders own 0.19% of the company’s stock.

Visa Stock Performance

Shares of NYSE:V opened at $268.99 on Friday. The stock has a market capitalization of $491.97 billion, a P/E ratio of 30.05, a P/E/G ratio of 1.84 and a beta of 0.95. Visa Inc. has a 1-year low of $227.68 and a 1-year high of $290.96. The company has a current ratio of 1.40, a quick ratio of 1.40 and a debt-to-equity ratio of 0.53. The business has a 50-day moving average price of $273.45 and a two-hundred day moving average price of $273.65.

Visa (NYSE:V) last announced its quarterly earnings data on Tuesday, April 23rd. The credit-card processor reported $2.51 earnings per share for the quarter, topping the consensus estimate of $2.43 by $0.08. The firm had revenue of $8.78 billion during the quarter, compared to analysts’ expectations of $8.62 billion. Visa had a return on equity of 51.23% and a net margin of 53.87%. The company’s quarterly revenue was up 9.9% compared to the same quarter last year. During the same period in the previous year, the business posted $2.09 EPS. Equities analysts predict that Visa Inc. will post 9.94 earnings per share for the current year.

Visa Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, June 3rd. Stockholders of record on Friday, May 17th were given a dividend of $0.52 per share. The ex-dividend date of this dividend was Thursday, May 16th. This represents a $2.08 annualized dividend and a dividend yield of 0.77%. Visa’s payout ratio is currently 23.24%.

Wall Street Analyst Weigh In

A number of equities research analysts have weighed in on V shares. Evercore ISI decreased 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. Royal Bank of Canada lifted their price target on shares of Visa from $309.00 to $315.00 and gave the stock an “outperform” rating in a research note on Wednesday, April 24th. Macquarie lifted their price target on shares of Visa from $290.00 to $300.00 and gave the stock an “outperform” rating in a research note on Wednesday, April 24th. Citigroup lifted their price target on shares of Visa from $314.00 to $321.00 and gave the stock a “buy” rating in a research note on Wednesday, April 24th. Finally, William Blair restated an “outperform” rating on shares of Visa in a research note on Wednesday, April 24th. Five equities research analysts have rated the stock with a hold rating and twenty-one have given a buy rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $303.56.

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.