Synovus Financial Corp decreased its position in Visa Inc. (NYSE:V - Free Report) by 8.2% in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 104,516 shares of the credit-card processor's stock after selling 9,344 shares during the period. Synovus Financial Corp's holdings in Visa were worth $33,037,000 at the end of the most recent quarter.
A number of other large investors have also made changes to their positions in the company. Hirtle Callaghan & Co LLC increased its stake in Visa by 1.3% in the 4th quarter. Hirtle Callaghan & Co LLC now owns 2,291 shares of the credit-card processor's stock worth $724,000 after buying an additional 29 shares in the last quarter. Elevation Wealth Partners LLC lifted its stake in Visa by 3.3% in the fourth quarter. Elevation Wealth Partners LLC now owns 939 shares of the credit-card processor's stock worth $297,000 after purchasing an additional 30 shares during the last quarter. Warther Private Wealth LLC boosted its stake in shares of Visa by 1.0% during the fourth quarter. Warther Private Wealth LLC now owns 2,935 shares of the credit-card processor's stock valued at $928,000 after purchasing an additional 30 shares during the period. Valmark Advisers Inc. grew its stake in Visa by 0.4% in the fourth quarter. Valmark Advisers Inc. now owns 7,251 shares of the credit-card processor's stock worth $2,292,000 after purchasing an additional 30 shares in the last quarter. Finally, Strategic Family Wealth Counselors L.L.C. increased its position in Visa by 0.4% during the 4th quarter. Strategic Family Wealth Counselors L.L.C. now owns 7,283 shares of the credit-card processor's stock valued at $2,302,000 after purchasing an additional 30 shares during the period. Institutional investors own 82.15% of the company's stock.
Insider Activity at Visa
In other Visa news, CEO Ryan Mcinerney sold 8,620 shares of the stock in a transaction that occurred on Tuesday, April 1st. The stock was sold at an average price of $350.44, for a total transaction of $3,020,792.80. Following the completion of the sale, the chief executive officer now directly owns 537 shares of the company's stock, valued at approximately $188,186.28. This trade represents a 94.14 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CAO Peter M. Andreski sold 2,332 shares of the firm's stock in a transaction on Friday, February 7th. The shares were sold at an average price of $349.62, for a total value of $815,313.84. Following the completion of the sale, the chief accounting officer now directly owns 4,488 shares of the company's stock, valued at approximately $1,569,094.56. This trade represents a 34.19 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 143,205 shares of company stock worth $48,842,490. Insiders own 0.13% of the company's stock.
Visa Stock Up 0.2 %
Shares of Visa stock traded up $0.70 during trading on Tuesday, hitting $335.88. 4,383,107 shares of the stock traded hands, compared to its average volume of 7,242,081. The firm has a market cap of $623.98 billion, a P/E ratio of 33.86, a price-to-earnings-growth ratio of 2.33 and a beta of 0.94. The stock's fifty day simple moving average is $341.89 and its 200 day simple moving average is $319.63. The company has a current ratio of 1.12, a quick ratio of 1.12 and a debt-to-equity ratio of 0.45. Visa Inc. has a 52-week low of $252.70 and a 52-week high of $366.54.
Visa (NYSE:V - Get Free Report) last issued its quarterly earnings results on Thursday, January 30th. The credit-card processor reported $2.75 earnings per share for the quarter, topping the consensus estimate of $2.66 by $0.09. Visa had a net margin of 54.27% and a return on equity of 54.79%. On average, equities analysts predict that Visa Inc. will post 11.3 earnings per share for the current fiscal year.
Visa Dividend Announcement
The firm also recently declared a quarterly dividend, which was paid on Monday, March 3rd. Stockholders of record on Tuesday, February 11th were issued a dividend of $0.59 per share. This represents a $2.36 dividend on an annualized basis and a dividend yield of 0.70%. The ex-dividend date of this dividend was Tuesday, February 11th. Visa's dividend payout ratio is presently 23.79%.
Wall Street Analysts Forecast Growth
A number of research analysts have issued reports on the stock. Oppenheimer restated an "outperform" rating on shares of Visa in a research note on Thursday, February 13th. JPMorgan Chase & Co. increased their target price on Visa from $340.00 to $375.00 and gave the company an "overweight" rating in a report on Friday, January 31st. Morgan Stanley raised their target price on Visa from $326.00 to $371.00 and gave the stock an "overweight" rating in a research note on Wednesday, December 18th. William Blair restated an "outperform" rating on shares of Visa in a report on Friday, January 31st. Finally, Citigroup reissued a "neutral" rating on shares of Visa in a research note on Thursday, February 13th. Seven equities research analysts have rated the stock with a hold rating, twenty-one have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the company has an average rating of "Moderate Buy" and an average price target of $355.84.
Check Out Our Latest Stock Report on V
Visa Company Profile
(
Free Report)
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.
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