Visa Inc. (NYSE:V) Stake Lowered by Massachusetts Financial Services Co. MA

Massachusetts Financial Services Co. MA trimmed its position in shares of Visa Inc. (NYSE:V) by 14.7% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 16,965,278 shares of the credit-card processor’s stock after selling 2,923,660 shares during the period. Visa comprises approximately 1.4% of Massachusetts Financial Services Co. MA’s portfolio, making the stock its 8th biggest holding. Massachusetts Financial Services Co. MA’s holdings in Visa were worth $4,452,877,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also recently bought and sold shares of the company. Black Diamond Financial LLC increased its position in Visa by 59.3% in the 2nd quarter. Black Diamond Financial LLC now owns 1,751 shares of the credit-card processor’s stock worth $460,000 after purchasing an additional 652 shares during the last quarter. Waycross Partners LLC grew its stake in shares of Visa by 10.4% in the 2nd quarter. Waycross Partners LLC now owns 48,208 shares of the credit-card processor’s stock valued at $12,653,000 after buying an additional 4,555 shares in the last quarter. Capital Wealth Planning LLC increased its holdings in Visa by 1.7% in the second quarter. Capital Wealth Planning LLC now owns 1,809,136 shares of the credit-card processor’s stock worth $474,844,000 after buying an additional 29,771 shares during the last quarter. Abound Wealth Management raised its position in Visa by 8.4% during the second quarter. Abound Wealth Management now owns 843 shares of the credit-card processor’s stock valued at $221,000 after acquiring an additional 65 shares in the last quarter. Finally, Fairfield Financial Advisors LTD acquired a new stake in Visa in the second quarter valued at approximately $4,041,000. Institutional investors and hedge funds own 82.15% of the company’s stock.

Insider Transactions at Visa

In other Visa news, CEO Ryan Mcinerney sold 8,620 shares of Visa stock in a transaction on Tuesday, September 3rd. The stock was sold at an average price of $276.37, for a total transaction of $2,382,309.40. Following the completion of the transaction, the chief executive officer now directly owns 538 shares of the company’s stock, valued at $148,687.06. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 0.19% of the stock is currently owned by insiders.

Visa Stock Up 0.7 %

Shares of V stock opened at $287.35 on Monday. Visa Inc. has a one year low of $227.78 and a one year high of $290.96. The company has a debt-to-equity ratio of 0.54, a current ratio of 1.37 and a quick ratio of 1.37. The stock has a fifty day moving average price of $268.29 and a 200 day moving average price of $273.16. The stock has a market cap of $523.64 billion, a P/E ratio of 32.11, a price-to-earnings-growth ratio of 2.01 and a beta of 0.96.

Visa (NYSE:V) last released its quarterly earnings data on Tuesday, July 23rd. The credit-card processor reported $2.42 EPS for the quarter, hitting analysts’ consensus estimates of $2.42. Visa had a net margin of 54.72% and a return on equity of 51.94%. The company had revenue of $8.90 billion during the quarter, compared to the consensus estimate of $8.92 billion. During the same period last year, the firm earned $2.16 EPS. The firm’s revenue for the quarter was up 9.6% compared to the same quarter last year. Analysts predict that Visa Inc. will post 9.92 earnings per share for the current year.

Visa Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, September 3rd. Stockholders of record on Friday, August 9th were paid a $0.52 dividend. The ex-dividend date was Friday, August 9th. This represents a $2.08 annualized dividend and a dividend yield of 0.72%. Visa’s dividend payout ratio is currently 23.24%.

Analyst Upgrades and Downgrades

Several brokerages have recently commented on V. TD Cowen dropped their price target on shares of Visa from $320.00 to $318.00 and set a “buy” rating on the stock in a research note on Wednesday, July 24th. Royal Bank of Canada cut their target price on Visa from $315.00 to $311.00 and set an “outperform” rating on the stock in a report on Wednesday, July 24th. Compass Point began coverage on Visa in a research note on Wednesday, September 4th. They set a “buy” rating and a $319.00 price target for the company. Citigroup cut their price objective on Visa from $321.00 to $319.00 and set a “buy” rating on the stock in a research note on Wednesday, July 24th. Finally, William Blair raised Visa to a “strong-buy” rating in a research report on Tuesday, July 23rd. Six analysts have rated the stock with a hold rating, twenty-four have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $309.81.

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.