Assetmark Inc. Acquires 6,420 Shares of Visa Inc. (NYSE:V)

Assetmark Inc. boosted its holdings in shares of Visa Inc. (NYSE:V) by 15.9% in the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 46,770 shares of the credit-card processor’s stock after purchasing an additional 6,420 shares during the quarter. Assetmark Inc.’s holdings in Visa were worth $12,177,000 at the end of the most recent quarter.

Other hedge funds have also recently added to or reduced their stakes in the company. GW&K Investment Management LLC raised its holdings in shares of Visa by 4.5% in the 4th quarter. GW&K Investment Management LLC now owns 934 shares of the credit-card processor’s stock worth $243,000 after buying an additional 40 shares in the last quarter. Quest Partners LLC acquired a new stake in Visa during the 4th quarter valued at $1,800,000. Trexquant Investment LP increased its holdings in Visa by 223.0% during the 4th quarter. Trexquant Investment LP now owns 72,805 shares of the credit-card processor’s stock valued at $18,955,000 after purchasing an additional 50,262 shares in the last quarter. Corient Private Wealth LLC increased its holdings in Visa by 22.4% during the 4th quarter. Corient Private Wealth LLC now owns 2,213,165 shares of the credit-card processor’s stock valued at $576,192,000 after purchasing an additional 404,838 shares in the last quarter. Finally, D.A. Davidson & CO. increased its holdings in Visa by 0.5% during the 4th quarter. D.A. Davidson & CO. now owns 344,840 shares of the credit-card processor’s stock valued at $89,779,000 after purchasing an additional 1,733 shares in the last quarter. Institutional investors own 82.15% of the company’s stock.

Visa Stock Up 0.4 %

NYSE:V traded up $1.06 on Wednesday, hitting $277.01. The stock had a trading volume of 1,270,238 shares, compared to its average volume of 6,313,750. The firm’s fifty day simple moving average is $277.31 and its two-hundred day simple moving average is $269.42. The company has a debt-to-equity ratio of 0.53, a quick ratio of 1.40 and a current ratio of 1.40. Visa Inc. has a 1 year low of $216.14 and a 1 year high of $290.96. The stock has a market cap of $506.63 billion, a P/E ratio of 31.01, a price-to-earnings-growth ratio of 1.92 and a beta of 0.95.

Visa (NYSE:V) last issued its quarterly earnings results on Tuesday, April 23rd. The credit-card processor reported $2.51 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.43 by $0.08. Visa had a net margin of 53.87% and a return on equity of 51.23%. The company had revenue of $8.78 billion during the quarter, compared to analyst estimates of $8.62 billion. During the same quarter last year, the business posted $2.09 EPS. Visa’s quarterly revenue was up 9.9% compared to the same quarter last year. Analysts predict that Visa Inc. will post 9.86 earnings per share for the current year.

Visa Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, June 3rd. Investors of record on Friday, May 17th will be paid a $0.52 dividend. The ex-dividend date of this dividend is Thursday, May 16th. This represents a $2.08 dividend on an annualized basis and a yield of 0.75%. Visa’s dividend payout ratio is 23.24%.

Analyst Ratings Changes

Several equities research analysts have recently commented on the company. Mizuho lifted their target price on Visa from $265.00 to $275.00 and gave the company a “neutral” rating in a research note on Thursday, May 2nd. Royal Bank of Canada lifted their target price on Visa from $309.00 to $315.00 and gave the company an “outperform” rating in a research note on Wednesday, April 24th. Macquarie raised their price target on Visa from $290.00 to $300.00 and gave the stock an “outperform” rating in a research report on Wednesday, April 24th. Susquehanna raised their price target on Visa from $300.00 to $326.00 and gave the stock a “positive” rating in a research report on Friday, January 26th. Finally, Wedbush raised their price target on Visa from $280.00 to $300.00 and gave the stock an “outperform” rating in a research report on Wednesday, April 24th. Five equities research analysts have rated the stock with a hold rating and twenty-one have issued a buy rating to the company. According to data from MarketBeat.com, Visa presently has a consensus rating of “Moderate Buy” and a consensus target price of $303.76.

Insider Activity at Visa

In other Visa news, insider Paul D. Fabara sold 25,293 shares of the firm’s stock in a transaction 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 directly owns 17,894 shares of the company’s stock, valued at approximately $4,959,322.10. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In other news, Director Lloyd Carney sold 909 shares of Visa stock in a transaction on Friday, April 26th. The shares were sold at an average price of $275.55, for a total transaction of $250,474.95. Following the completion of the sale, the director now directly owns 2,591 shares of the company’s stock, valued at approximately $713,950.05. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Paul D. Fabara sold 25,293 shares of Visa stock in a transaction on 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 sale, the insider now directly owns 17,894 shares of the company’s stock, valued at $4,959,322.10. The disclosure for this sale can be found here. In the last ninety days, insiders sold 34,402 shares of company stock worth $9,559,382. Corporate insiders own 0.19% of the company’s stock.

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.