Assetmark Inc. Has $16.45 Million Stock Holdings in Visa Inc. (NYSE:V)

Assetmark Inc. raised its stake in shares of Visa Inc. (NYSE:V) by 3.0% during the third quarter, Holdings Channel reports. The firm owned 59,816 shares of the credit-card processor’s stock after buying an additional 1,739 shares during the period. Assetmark Inc.’s holdings in Visa were worth $16,446,000 at the end of the most recent reporting period.

Other large investors also recently modified their holdings of the company. Arjuna Capital grew its stake in Visa by 0.8% during the second quarter. Arjuna Capital now owns 11,851 shares of the credit-card processor’s stock worth $3,111,000 after buying an additional 96 shares during the last quarter. Custom Index Systems LLC bought a new stake in Visa during the 3rd quarter worth approximately $731,000. Mechanics Bank Trust Department increased its holdings in Visa by 8.0% during the 2nd quarter. Mechanics Bank Trust Department now owns 32,460 shares of the credit-card processor’s stock valued at $8,520,000 after purchasing an additional 2,410 shares in the last quarter. China Universal Asset Management Co. Ltd. raised its position in Visa by 46.9% in the 1st quarter. China Universal Asset Management Co. Ltd. now owns 50,328 shares of the credit-card processor’s stock valued at $14,046,000 after purchasing an additional 16,078 shares during the last quarter. Finally, Chicago Capital LLC boosted its stake in Visa by 5.2% in the third quarter. Chicago Capital LLC now owns 404,914 shares of the credit-card processor’s stock worth $111,331,000 after purchasing an additional 20,023 shares in the last quarter. 82.15% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

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

Analyst Upgrades and Downgrades

A number of brokerages have recently weighed in on V. William Blair upgraded Visa to a “strong-buy” rating in a research note on Tuesday, July 23rd. Monness Crespi & Hardt restated a “neutral” rating on shares of Visa in a research report on Tuesday, September 24th. TD Cowen upped their target price on shares of Visa from $318.00 to $325.00 and gave the stock a “buy” rating in a research report on Wednesday, October 30th. Mizuho raised their price target on shares of Visa from $279.00 to $292.00 and gave the company a “neutral” rating in a report on Friday, November 1st. Finally, Susquehanna upped their price objective on Visa from $326.00 to $339.00 and gave the stock a “positive” rating in a report on Wednesday, October 30th. Four research analysts have rated the stock with a hold rating, twenty-four have assigned a buy rating and two have given a strong buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $321.74.

Visa Stock Performance

V opened at $307.87 on Monday. The company has a market capitalization of $561.03 billion, a price-to-earnings ratio of 31.64, a P/E/G ratio of 2.06 and a beta of 0.95. The business’s 50-day moving average price is $283.95 and its two-hundred day moving average price is $274.67. Visa Inc. has a 1 year low of $240.97 and a 1 year high of $311.15. The company has a debt-to-equity ratio of 0.55, a current ratio of 1.28 and a quick ratio of 1.37.

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

Visa Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, December 2nd. Investors of record on Tuesday, November 12th will be given a dividend of $0.59 per share. The ex-dividend date of this dividend is Tuesday, November 12th. This is a boost from Visa’s previous quarterly dividend of $0.52. This represents a $2.36 annualized dividend and a yield of 0.77%. Visa’s dividend payout ratio is 21.38%.

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.