Massachusetts Wealth Management Sells 62 Shares of Visa Inc. (NYSE:V)

Massachusetts Wealth Management trimmed its holdings in shares of Visa Inc. (NYSE:V) by 7.2% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 799 shares of the credit-card processor’s stock after selling 62 shares during the quarter. Massachusetts Wealth Management’s holdings in Visa were worth $220,000 at the end of the most recent quarter.

Other hedge funds have also bought and sold shares of the company. International Assets Investment Management LLC grew its position in shares of Visa by 45,189.4% during the 3rd quarter. International Assets Investment Management LLC now owns 9,758,505 shares of the credit-card processor’s stock valued at $2,683,101,000 after acquiring an additional 9,736,958 shares during the period. SG Americas Securities LLC grew its holdings in Visa by 4,412.3% during the third quarter. SG Americas Securities LLC now owns 4,072,467 shares of the credit-card processor’s stock valued at $1,119,725,000 after purchasing an additional 4,166,905 shares during the period. National Bank of Canada FI increased its position in Visa by 787.1% in the first quarter. National Bank of Canada FI now owns 4,619,881 shares of the credit-card processor’s stock worth $1,296,820,000 after buying an additional 4,099,122 shares during the last quarter. Swedbank AB bought a new stake in shares of Visa in the first quarter valued at $511,321,000. Finally, GQG Partners LLC lifted its position in shares of Visa by 40.1% during the 1st quarter. GQG Partners LLC now owns 5,990,634 shares of the credit-card processor’s stock valued at $1,671,866,000 after buying an additional 1,715,686 shares during the last quarter. 82.15% of the stock is currently owned by institutional investors.

Visa Stock Performance

NYSE:V opened at $281.73 on Friday. The company has a market capitalization of $515.27 billion, a price-to-earnings ratio of 31.48, a PEG ratio of 1.96 and a beta of 0.96. The business has a 50 day moving average of $279.02 and a 200 day moving average of $273.17. The company has a debt-to-equity ratio of 0.54, a current ratio of 1.37 and a quick ratio of 1.37. Visa Inc. has a 1-year low of $228.03 and a 1-year high of $293.07.

Analyst Upgrades and Downgrades

V has been the topic of a number of research reports. TD Cowen lowered their price objective on Visa from $320.00 to $318.00 and set a “buy” rating on the stock in a research note on Wednesday, July 24th. Oppenheimer assumed coverage on shares of Visa in a research report on Tuesday, October 1st. They issued an “outperform” rating and a $318.00 price target on the stock. Royal Bank of Canada cut their price objective on shares of Visa from $315.00 to $311.00 and set an “outperform” rating for the company in a report on Wednesday, July 24th. Citigroup lowered their target price on shares of Visa from $321.00 to $319.00 and set a “buy” rating on the stock in a report on Wednesday, July 24th. Finally, The Goldman Sachs Group reaffirmed a “buy” rating and issued a $317.00 price target on shares of Visa in a report on Thursday, September 12th. Four equities research analysts have rated the stock with a hold rating, twenty-three have assigned a buy rating and two have given a strong buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $314.19.

Insiders Place Their Bets

In other Visa news, CEO Ryan Mcinerney sold 8,620 shares of the business’s stock in a transaction on Tuesday, September 3rd. The shares were sold at an average price of $276.37, for a total value of $2,382,309.40. Following the completion of the sale, the chief executive officer now directly owns 538 shares of the company’s stock, valued at $148,687.06. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Insiders own 0.19% of the company’s stock.

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.