Marks Group Wealth Management Inc Has $16.23 Million Holdings in Visa Inc. (NYSE:V)

Marks Group Wealth Management Inc lifted its holdings in shares of Visa Inc. (NYSE:V) by 3.3% in the third quarter, Holdings Channel.com reports. The fund owned 59,027 shares of the credit-card processor’s stock after purchasing an additional 1,895 shares during the quarter. Visa accounts for approximately 1.5% of Marks Group Wealth Management Inc’s portfolio, making the stock its 6th largest position. Marks Group Wealth Management Inc’s holdings in Visa were worth $16,229,000 at the end of the most recent reporting period.

Other hedge funds have also made changes to their positions in the company. International Assets Investment Management LLC boosted its holdings in Visa by 45,189.4% in the third quarter. International Assets Investment Management LLC now owns 9,758,505 shares of the credit-card processor’s stock valued at $2,683,101,000 after acquiring an additional 9,736,958 shares during the last quarter. SG Americas Securities LLC boosted its stake in shares of Visa by 4,412.3% during the 3rd quarter. SG Americas Securities LLC now owns 4,072,467 shares of the credit-card processor’s stock worth $1,119,725,000 after buying an additional 4,166,905 shares during the last quarter. National Bank of Canada FI boosted its holdings in shares of Visa by 787.1% in the 1st quarter. National Bank of Canada FI now owns 4,619,881 shares of the credit-card processor’s stock valued at $1,296,820,000 after buying an additional 4,099,122 shares during the last quarter. Swedbank AB acquired a new stake in Visa during the 1st quarter valued at $511,321,000. Finally, GQG Partners LLC grew its stake in Visa by 40.1% in the 1st quarter. GQG Partners LLC now owns 5,990,634 shares of the credit-card processor’s stock valued at $1,671,866,000 after buying an additional 1,715,686 shares during the last quarter. Institutional investors and hedge funds own 82.15% of the company’s stock.

Visa Stock Performance

Visa stock opened at $293.36 on Wednesday. The company’s 50-day moving average price is $281.92 and its 200-day moving average price is $273.97. The company has a quick ratio of 1.37, a current ratio of 1.28 and a debt-to-equity ratio of 0.55. The company has a market cap of $534.59 billion, a PE ratio of 30.15, a price-to-earnings-growth ratio of 1.96 and a beta of 0.95. Visa Inc. has a twelve month low of $240.97 and a twelve month high of $296.34.

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

Visa Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, December 2nd. Shareholders of record on Tuesday, November 12th will be paid a dividend of $0.59 per share. This represents a $2.36 annualized dividend and a yield of 0.80%. This is a positive change from Visa’s previous quarterly dividend of $0.52. The ex-dividend date of this dividend is Tuesday, November 12th. Visa’s payout ratio is presently 21.38%.

Insider Buying and Selling

In other Visa news, CEO Ryan Mcinerney sold 8,620 shares of the firm’s stock in a transaction dated 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 completion of the sale, the chief executive officer now owns 538 shares of the company’s stock, valued at $148,687.06. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. 0.19% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

V has been the topic of a number of recent analyst reports. Susquehanna lifted their target price on Visa from $326.00 to $339.00 and gave the company a “positive” rating in a research report on Wednesday, October 30th. Monness Crespi & Hardt reaffirmed a “neutral” rating on shares of Visa in a research report on Tuesday, September 24th. BMO Capital Markets boosted their price target on shares of Visa from $310.00 to $320.00 and gave the company an “outperform” rating in a research report on Wednesday, October 30th. Royal Bank of Canada lifted their price objective on shares of Visa from $311.00 to $322.00 and gave the stock an “outperform” rating in a report on Wednesday, October 30th. Finally, TD Cowen increased their target price on Visa from $318.00 to $325.00 and gave the company a “buy” rating in a report on Wednesday, October 30th. Four research analysts have rated the stock with a hold rating, twenty-four have issued a buy rating and two have assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $321.74.

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.