Visa Inc. (NYSE:V) Shares Purchased by Assetmark Inc.

Assetmark Inc. grew its holdings in shares of Visa Inc. (NYSE:V) by 3.0% during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 59,816 shares of the credit-card processor’s stock after purchasing an additional 1,739 shares during the quarter. Assetmark Inc.’s holdings in Visa were worth $16,446,000 at the end of the most recent quarter.

Several other large investors have also recently added to or reduced their stakes in the business. POM Investment Strategies LLC grew its holdings in Visa by 970.0% in the 2nd quarter. POM Investment Strategies LLC now owns 107 shares of the credit-card processor’s stock worth $28,000 after buying an additional 97 shares in the last quarter. Reston Wealth Management LLC bought a new stake in shares of Visa in the 3rd quarter worth approximately $31,000. TruNorth Capital Management LLC lifted its stake in Visa by 211.9% during the second quarter. TruNorth Capital Management LLC now owns 131 shares of the credit-card processor’s stock valued at $34,000 after purchasing an additional 89 shares during the last quarter. Abich Financial Wealth Management LLC boosted its holdings in Visa by 52.9% during the first quarter. Abich Financial Wealth Management LLC now owns 133 shares of the credit-card processor’s stock worth $37,000 after buying an additional 46 shares in the last quarter. Finally, CarsonAllaria Wealth Management Ltd. acquired a new position in Visa in the second quarter worth approximately $35,000. 82.15% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several equities research analysts have recently weighed in on V shares. Keefe, Bruyette & Woods raised Visa from a “moderate buy” rating to a “strong-buy” rating in a research note on Tuesday, September 24th. Jefferies Financial Group lifted their price target on Visa from $320.00 to $330.00 and gave the stock a “buy” rating in a research note on Wednesday, October 30th. BMO Capital Markets boosted their price objective on Visa from $310.00 to $320.00 and gave the stock an “outperform” rating in a report on Wednesday, October 30th. William Blair raised shares of Visa to a “strong-buy” rating in a research report on Tuesday, July 23rd. Finally, Deutsche Bank Aktiengesellschaft upped their price target on shares of Visa from $300.00 to $340.00 and gave the company a “buy” rating in a research report on Wednesday, October 30th. Four research analysts have rated the stock with a hold rating, twenty-four have given a buy rating and two have assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $321.74.

Insider Buying and Selling at Visa

In other news, CEO Ryan Mcinerney sold 8,620 shares of the firm’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 sale, the chief executive officer now owns 538 shares in the company, valued at approximately $148,687.06. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Corporate insiders own 0.19% of the company’s stock.

Visa Stock Performance

V opened at $307.87 on Monday. The company has a debt-to-equity ratio of 0.55, a quick ratio of 1.37 and a current ratio of 1.28. The company has a market cap of $561.03 billion, a PE ratio of 31.64, a price-to-earnings-growth ratio of 2.06 and a beta of 0.95. The stock has a 50-day moving average of $283.95 and a 200-day moving average of $274.67. Visa Inc. has a 52-week low of $240.97 and a 52-week high of $311.15.

Visa (NYSE:V) last released its quarterly earnings results on Tuesday, October 29th. The credit-card processor reported $2.71 EPS for the quarter, beating analysts’ consensus estimates of $2.58 by $0.13. The company had revenue of $9.62 billion for the quarter, compared to analyst estimates of $9.49 billion. Visa had a net margin of 54.96% and a return on equity of 53.16%. The company’s quarterly revenue was up 11.7% compared to the same quarter last year. During the same quarter last year, the firm posted $2.33 earnings per share. As a group, equities research analysts forecast that Visa Inc. will post 11.18 earnings per share for the current fiscal year.

Visa Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, December 2nd. Shareholders of record on Tuesday, November 12th will be given a dividend of $0.59 per share. This is a positive change from Visa’s previous quarterly dividend of $0.52. The ex-dividend date is Tuesday, November 12th. This represents a $2.36 dividend on an annualized basis and a yield of 0.77%. Visa’s payout ratio is currently 21.38%.

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.