Assetmark Inc. Increases Stock Position in Visa Inc. (NYSE:V)

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

Other hedge funds also recently bought and sold shares of the company. Nadler Financial Group Inc. boosted its stake in shares of Visa by 2.4% in the fourth quarter. Nadler Financial Group Inc. now owns 1,900 shares of the credit-card processor’s stock valued at $495,000 after purchasing an additional 44 shares during the period. Towerpoint Wealth LLC purchased a new position in shares of Visa in the fourth quarter valued at approximately $216,000. Andrew Hill Investment Advisors Inc. purchased a new position in shares of Visa in the fourth quarter valued at approximately $3,427,000. Wayfinding Financial LLC boosted its stake in shares of Visa by 10.1% in the third quarter. Wayfinding Financial LLC now owns 1,757 shares of the credit-card processor’s stock valued at $406,000 after purchasing an additional 161 shares during the period. Finally, Richelieu Gestion SA purchased a new position in shares of Visa in the fourth quarter valued at approximately $307,000. Hedge funds and other institutional investors own 82.15% of the company’s stock.

Insider Buying and Selling

In related news, insider Paul D. Fabara sold 25,293 shares of the business’s stock in a transaction dated 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 owns 17,894 shares of the company’s stock, valued at approximately $4,959,322.10. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In related news, insider Paul D. Fabara sold 25,293 shares of the business’s stock in a transaction dated 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 owns 17,894 shares of the company’s stock, valued at approximately $4,959,322.10. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Ryan Mcinerney sold 8,200 shares of the business’s stock in a transaction dated Monday, April 1st. The shares were sold at an average price of $280.36, for a total transaction of $2,298,952.00. Following the completion of the transaction, the chief executive officer now directly owns 538 shares of the company’s stock, valued at approximately $150,833.68. The disclosure for this sale can be found here. Insiders have sold 34,402 shares of company stock worth $9,559,382 in the last three months. Corporate insiders own 0.19% of the company’s stock.

Visa Price Performance

Shares of NYSE V traded up $1.06 during trading on Wednesday, hitting $277.01. 1,270,238 shares of the company were exchanged, compared to its average volume of 6,313,750. The company has a market cap of $506.63 billion, a price-to-earnings ratio of 31.01, a PEG ratio of 1.92 and a beta of 0.95. Visa Inc. has a 1 year low of $216.14 and a 1 year high of $290.96. The firm’s fifty day moving average price is $277.31 and its 200 day moving average price is $269.42. The company has a debt-to-equity ratio of 0.53, a current ratio of 1.40 and a quick ratio of 1.40.

Visa (NYSE:V) last issued its earnings results on Tuesday, April 23rd. The credit-card processor reported $2.51 EPS for the quarter, topping the consensus estimate of $2.43 by $0.08. The company had revenue of $8.78 billion for the quarter, compared to analyst estimates of $8.62 billion. Visa had a net margin of 53.87% and a return on equity of 51.23%. The business’s revenue was up 9.9% on a year-over-year basis. During the same period in the previous year, the firm earned $2.09 EPS. On average, sell-side analysts expect that Visa Inc. will post 9.86 earnings per share for the current fiscal year.

Visa Dividend Announcement

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 given a $0.52 dividend. The ex-dividend date is Thursday, May 16th. This represents a $2.08 annualized dividend and a dividend yield of 0.75%. Visa’s dividend payout ratio is presently 23.24%.

Analyst Upgrades and Downgrades

A number of research analysts recently issued reports on the stock. Mizuho lifted their price target on shares of Visa from $265.00 to $275.00 and gave the stock a “neutral” rating in a research note on Thursday, May 2nd. Piper Sandler assumed coverage on shares of Visa in a research note on Monday, May 13th. They issued an “overweight” rating and a $322.00 price target for the company. Citigroup lifted their price target on shares of Visa from $314.00 to $321.00 and gave the stock a “buy” rating in a research note on Wednesday, April 24th. Wedbush lifted their price target on shares of Visa from $280.00 to $300.00 and gave the stock an “outperform” rating in a research note on Wednesday, April 24th. Finally, Evercore ISI lifted their price target on shares of Visa from $325.00 to $335.00 and gave the stock an “outperform” rating in a research note on Tuesday, March 26th. Five investment analysts have rated the stock with a hold rating and twenty-one have given a buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $303.76.

About Visa

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.