Marks Group Wealth Management Inc Has $11.78 Million Holdings in Visa Inc. $V

Marks Group Wealth Management Inc cut its stake in Visa Inc. (NYSE:V) by 38.0% in the third quarter, Holdings Channel.com reports. The firm owned 34,495 shares of the credit-card processor’s stock after selling 21,169 shares during the period. Visa makes up approximately 1.1% of Marks Group Wealth Management Inc’s holdings, making the stock its 14th largest holding. Marks Group Wealth Management Inc’s holdings in Visa were worth $11,776,000 as of its most recent SEC filing.

Several other institutional investors also recently modified their holdings of the company. Avalon Trust Co lifted its stake in Visa by 0.4% during the third quarter. Avalon Trust Co now owns 169,307 shares of the credit-card processor’s stock worth $57,798,000 after purchasing an additional 731 shares during the period. Quantum Private Wealth LLC raised its position in Visa by 1.7% in the 3rd quarter. Quantum Private Wealth LLC now owns 3,636 shares of the credit-card processor’s stock worth $1,241,000 after purchasing an additional 62 shares during the last quarter. Makena Capital Management LLC boosted its holdings in Visa by 27.6% in the third quarter. Makena Capital Management LLC now owns 94,491 shares of the credit-card processor’s stock valued at $32,257,000 after acquiring an additional 20,440 shares during the last quarter. TSA Wealth Managment LLC grew its position in shares of Visa by 4.9% during the 3rd quarter. TSA Wealth Managment LLC now owns 659 shares of the credit-card processor’s stock worth $225,000 after buying an additional 31 shares during the period. Finally, Koshinski Asset Management Inc. grew its stake in shares of Visa by 3.0% during the third quarter. Koshinski Asset Management Inc. now owns 9,182 shares of the credit-card processor’s stock worth $3,135,000 after purchasing an additional 265 shares during the period. Institutional investors and hedge funds own 82.15% of the company’s stock.

Insiders Place Their Bets

In other news, CEO Ryan Mcinerney sold 10,485 shares of the stock in a transaction dated Friday, January 2nd. The shares were sold at an average price of $349.18, for a total value of $3,661,152.30. Following the sale, the chief executive officer directly owned 9,401 shares of the company’s stock, valued at approximately $3,282,641.18. This represents a 52.73% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Corporate insiders own 0.12% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages recently issued reports on V. Cantor Fitzgerald upgraded Visa to a “strong-buy” rating in a research report on Tuesday, January 27th. Morgan Stanley restated an “overweight” rating and set a $411.00 target price (up from $398.00) on shares of Visa in a report on Friday, January 30th. Daiwa Securities Group raised Visa from a “neutral” rating to an “outperform” rating and set a $370.00 target price on the stock in a report on Monday, February 2nd. Evercore set a $380.00 price objective on Visa in a report on Friday, December 12th. Finally, Freedom Capital upgraded shares of Visa from a “hold” rating to a “strong-buy” rating in a research report on Monday, February 16th. Seven analysts have rated the stock with a Strong Buy rating, twenty have given a Buy rating and three have issued a Hold rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Buy” and a consensus target price of $391.43.

Visa Stock Up 0.6%

Shares of NYSE V opened at $320.90 on Monday. Visa Inc. has a 12-month low of $299.00 and a 12-month high of $375.51. The firm has a market cap of $582.49 billion, a PE ratio of 30.10, a P/E/G ratio of 1.84 and a beta of 0.79. The company’s fifty day simple moving average is $336.40 and its 200 day simple moving average is $338.95. The company has a quick ratio of 1.11, a current ratio of 1.11 and a debt-to-equity ratio of 0.51.

Visa (NYSE:V) last issued its quarterly earnings data on Thursday, January 29th. The credit-card processor reported $3.17 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.14 by $0.03. Visa had a net margin of 50.23% and a return on equity of 61.74%. The firm had revenue of $10.90 billion during the quarter, compared to analysts’ expectations of $10.69 billion. During the same period last year, the company earned $2.75 earnings per share. The business’s revenue was up 14.6% on a year-over-year basis. As a group, sell-side analysts forecast that Visa Inc. will post 11.3 earnings per share for the current fiscal year.

Visa Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, March 2nd. Stockholders of record on Tuesday, February 10th will be paid a $0.67 dividend. The ex-dividend date is Tuesday, February 10th. This represents a $2.68 annualized dividend and a dividend yield of 0.8%. Visa’s dividend payout ratio (DPR) is presently 25.14%.

Visa Company Profile

Visa Inc is a global payments technology company that facilitates electronic funds transfers and digital commerce by connecting consumers, merchants, financial institutions and governments. The firm operates one of the world’s largest payment networks, providing processing, authorization, clearing and settlement services for credit, debit and prepaid card transactions. Visa’s network-based model enables partner banks and other issuers to offer branded payment products while Visa focuses on the infrastructure, standards and technologies that move money securely and efficiently around the world.

Visa’s product and service portfolio includes card-based payment products for consumers and businesses, real-time push-payment capabilities, tokenization and authentication services, fraud and risk-management tools, data analytics and APIs for fintech and merchant integration.