Blossom Wealth Management Increases Stake in Visa Inc. $V

Blossom Wealth Management lifted its stake in shares of Visa Inc. (NYSE:V) by 1.4% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 2,848 shares of the credit-card processor’s stock after buying an additional 40 shares during the quarter. Visa comprises 1.8% of Blossom Wealth Management’s portfolio, making the stock its 16th largest position. Blossom Wealth Management’s holdings in Visa were worth $1,011,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors also recently modified their holdings of V. Keystone Global Partners LLC purchased a new position in shares of Visa during the first quarter valued at about $26,000. von Borstel & Associates Inc. purchased a new position in shares of Visa during the first quarter valued at about $27,000. Family Legacy Financial Solutions LLC purchased a new position in shares of Visa during the second quarter valued at about $28,000. Cranbrook Wealth Management LLC increased its position in shares of Visa by 82.0% during the second quarter. Cranbrook Wealth Management LLC now owns 91 shares of the credit-card processor’s stock valued at $32,000 after buying an additional 41 shares during the period. Finally, 1 North Wealth Services LLC purchased a new position in shares of Visa during the first quarter valued at about $38,000. Hedge funds and other institutional investors own 82.15% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts recently commented on the stock. Citigroup assumed coverage on shares of Visa in a research note on Monday, June 2nd. They set a “buy” rating on the stock. The Goldman Sachs Group assumed coverage on shares of Visa in a research note on Monday, June 2nd. They set a “neutral” rating on the stock. UBS Group reissued a “buy” rating and set a $415.00 price objective (up previously from $405.00) on shares of Visa in a research note on Wednesday, July 30th. Mizuho raised shares of Visa from a “neutral” rating to an “outperform” rating and boosted their price objective for the stock from $359.00 to $425.00 in a research note on Thursday, June 5th. Finally, Raymond James Financial reissued an “outperform” rating on shares of Visa in a research note on Wednesday, July 30th. One analyst has rated the stock with a Strong Buy rating, twenty have assigned a Buy rating and five have issued a Hold rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $385.96.

Insiders Place Their Bets

In related news, General Counsel Julie B. Rottenberg sold 2,027 shares of the stock in a transaction that occurred on Monday, August 18th. The shares were sold at an average price of $344.02, for a total transaction of $697,328.54. Following the transaction, the general counsel owned 11,925 shares in the company, valued at $4,102,438.50. This represents a 14.53% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 0.13% of the stock is currently owned by company insiders.

Visa Trading Up 0.9%

Shares of NYSE V opened at $340.27 on Tuesday. The firm’s 50 day moving average price is $344.44 and its 200-day moving average price is $346.54. The company has a market cap of $623.64 billion, a PE ratio of 33.23, a P/E/G ratio of 2.24 and a beta of 0.92. Visa Inc. has a 52-week low of $273.20 and a 52-week high of $375.51. The company has a debt-to-equity ratio of 0.52, a quick ratio of 1.12 and a current ratio of 1.12.

Visa (NYSE:V) last issued its earnings results on Tuesday, July 29th. The credit-card processor reported $2.98 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.85 by $0.13. The firm had revenue of $10.17 billion for the quarter, compared to the consensus estimate of $9.82 billion. Visa had a net margin of 52.16% and a return on equity of 58.93%. The business’s revenue was up 14.3% on a year-over-year basis. During the same quarter in the prior year, the firm posted $2.42 earnings per share. On average, equities research analysts expect that Visa Inc. will post 11.3 EPS for the current fiscal year.

Visa Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, September 2nd. Investors of record on Tuesday, August 12th were given a dividend of $0.59 per share. The ex-dividend date was Tuesday, August 12th. This represents a $2.36 dividend on an annualized basis and a yield of 0.7%. Visa’s dividend payout ratio is 23.05%.

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.