Visa Inc. $V Shares Purchased by Synergy Asset Management LLC

Synergy Asset Management LLC grew its position in shares of Visa Inc. (NYSE:V) by 6,203.4% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 50,112 shares of the credit-card processor’s stock after purchasing an additional 49,317 shares during the quarter. Synergy Asset Management LLC’s holdings in Visa were worth $17,129,000 as of its most recent SEC filing.

Other hedge funds have also recently added to or reduced their stakes in the company. Family Legacy Financial Solutions LLC purchased a new position in Visa in the 2nd quarter worth approximately $28,000. Harbor Asset Planning Inc. purchased a new position in Visa in the second quarter worth approximately $29,000. Sagard Holdings Management Inc. purchased a new stake in Visa during the second quarter worth approximately $31,000. Bare Financial Services Inc boosted its stake in Visa by 287.0% in the second quarter. Bare Financial Services Inc now owns 89 shares of the credit-card processor’s stock valued at $32,000 after acquiring an additional 66 shares in the last quarter. Finally, Cranbrook Wealth Management LLC raised its position in Visa by 82.0% in the 2nd quarter. Cranbrook Wealth Management LLC now owns 91 shares of the credit-card processor’s stock valued at $32,000 after purchasing an additional 41 shares during the last quarter. 82.15% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several analysts have recently weighed in on the stock. Wells Fargo & Company raised shares of Visa to a “strong-buy” rating in a report on Wednesday, October 22nd. Citigroup raised shares of Visa to a “strong-buy” rating in a research report on Thursday, October 23rd. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Visa in a research report on Wednesday, October 8th. Raymond James Financial reissued an “outperform” rating and issued a $408.00 target price (up previously from $398.00) on shares of Visa in a research note on Wednesday, October 29th. Finally, Erste Group Bank downgraded shares of Visa from a “buy” rating to a “hold” rating in a research note on Monday, September 22nd. Five equities research analysts have rated the stock with a Strong Buy rating, nineteen have assigned a Buy rating and four have assigned a Hold rating to the company’s stock. According to data from MarketBeat, Visa currently has a consensus rating of “Buy” and a consensus price target of $402.52.

Insider Activity

In other news, insider Paul D. Fabara sold 2,172 shares of the firm’s stock in a transaction that occurred on Friday, November 21st. The shares were sold at an average price of $325.93, for a total transaction of $707,919.96. Following the completion of the sale, the insider owned 26,413 shares of the company’s stock, valued at approximately $8,608,789.09. This trade represents a 7.60% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, Director Lloyd Carney sold 900 shares of the business’s stock in a transaction dated Tuesday, November 4th. The stock was sold at an average price of $336.48, for a total transaction of $302,832.00. Following the completion of the transaction, the director directly owned 2,468 shares of the company’s stock, valued at approximately $830,432.64. This represents a 26.72% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last 90 days, insiders sold 13,557 shares of company stock valued at $4,586,137. Insiders own 0.12% of the company’s stock.

Visa Price Performance

Shares of NYSE V opened at $346.52 on Monday. The company has a market capitalization of $631.26 billion, a price-to-earnings ratio of 33.94, a PEG ratio of 2.04 and a beta of 0.81. The company has a current ratio of 1.08, a quick ratio of 1.08 and a debt-to-equity ratio of 0.53. The firm has a 50-day moving average of $339.15 and a two-hundred day moving average of $343.78. Visa Inc. has a twelve month low of $299.00 and a twelve month high of $375.51.

Visa (NYSE:V) last released its quarterly earnings results on Tuesday, October 28th. The credit-card processor reported $2.98 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.97 by $0.01. The business had revenue of $10.72 billion for the quarter, compared to analyst estimates of $10.60 billion. Visa had a net margin of 50.15% and a return on equity of 60.31%. The firm’s revenue was up 11.5% compared to the same quarter last year. During the same quarter in the previous year, the business earned $2.71 earnings per share. As a group, analysts expect that Visa Inc. will post 11.3 earnings per share for the current fiscal year.

Visa Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, December 1st. Shareholders of record on Wednesday, November 12th were issued a $0.67 dividend. This is an increase from Visa’s previous quarterly dividend of $0.59. The ex-dividend date of this dividend was Wednesday, November 12th. This represents a $2.68 dividend on an annualized basis and a yield of 0.8%. Visa’s payout ratio is 26.25%.

About Visa

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.