Visa Inc. (NYSE:V) Shares Acquired by Synovus Financial Corp

Synovus Financial Corp boosted its position in Visa Inc. (NYSE:V) by 5.6% in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 113,860 shares of the credit-card processor’s stock after purchasing an additional 5,992 shares during the quarter. Synovus Financial Corp’s holdings in Visa were worth $31,306,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Peterson Financial Group Inc. purchased a new stake in Visa during the 3rd quarter worth $26,000. POM Investment Strategies LLC boosted its position in Visa by 970.0% in the 2nd quarter. POM Investment Strategies LLC now owns 107 shares of the credit-card processor’s stock valued at $28,000 after buying an additional 97 shares during the last quarter. Reston Wealth Management LLC acquired a new stake in shares of Visa during the third quarter valued at about $31,000. TruNorth Capital Management LLC lifted its stake in shares of Visa by 211.9% in the second quarter. TruNorth Capital Management LLC now owns 131 shares of the credit-card processor’s stock worth $34,000 after acquiring an additional 89 shares in the last quarter. Finally, CarsonAllaria Wealth Management Ltd. acquired a new stake in Visa during the 2nd quarter valued at approximately $35,000. 82.15% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at Visa

In other Visa news, insider Paul D. Fabara sold 2,171 shares of the company’s stock in a transaction dated Friday, November 22nd. The shares were sold at an average price of $307.97, for a total transaction of $668,602.87. Following the completion of the sale, the insider now directly owns 17,894 shares in the company, valued at $5,510,815.18. This represents a 10.82 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 0.19% of the company’s stock.

Analysts Set New Price Targets

A number of analysts have recently weighed in on the stock. Monness Crespi & Hardt reissued a “neutral” rating on shares of Visa in a research report on Tuesday, September 24th. Jefferies Financial Group raised their price objective on shares of Visa from $320.00 to $330.00 and gave the stock a “buy” rating in a report on Wednesday, October 30th. Mizuho increased their price target on shares of Visa from $279.00 to $292.00 and gave the stock a “neutral” rating in a research report on Friday, November 1st. TD Cowen boosted their price objective on Visa from $318.00 to $325.00 and gave the company a “buy” rating in a report on Wednesday, October 30th. Finally, Royal Bank of Canada boosted their price target on Visa from $311.00 to $322.00 and gave the company an “outperform” rating in a report on Wednesday, October 30th. Four analysts have rated the stock with a hold rating, twenty-five have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, Visa has an average rating of “Moderate Buy” and a consensus price target of $324.74.

Visa Stock Up 0.1 %

NYSE V opened at $314.23 on Friday. The company has a market capitalization of $585.37 billion, a P/E ratio of 32.29, a PEG ratio of 2.11 and a beta of 0.96. Visa Inc. has a 12 month low of $252.70 and a 12 month high of $317.42. The company has a debt-to-equity ratio of 0.55, a current ratio of 1.28 and a quick ratio of 1.28. The company’s 50 day simple moving average is $298.56 and its 200 day simple moving average is $280.71.

Visa (NYSE:V) last issued 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. The firm had revenue of $9.62 billion for the quarter, compared to analysts’ expectations of $9.49 billion. Visa had a return on equity of 53.16% and a net margin of 54.96%. Visa’s revenue was up 11.7% on a year-over-year basis. During the same quarter last year, the business posted $2.33 EPS. Equities research analysts expect that Visa Inc. will post 11.19 earnings per share for the current fiscal year.

Visa Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, December 2nd. Shareholders of record on Tuesday, November 12th were given a dividend of $0.59 per share. The ex-dividend date was Tuesday, November 12th. This is a positive change from Visa’s previous quarterly dividend of $0.52. This represents a $2.36 dividend on an annualized basis and a yield of 0.75%. Visa’s dividend payout ratio (DPR) is presently 24.25%.

Visa Company 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.