Cyndeo Wealth Partners LLC Reduces Stake in Visa Inc. (NYSE:V)

Cyndeo Wealth Partners LLC reduced its position in Visa Inc. (NYSE:V) by 3.9% in the 1st quarter, HoldingsChannel.com reports. The firm owned 28,513 shares of the credit-card processor’s stock after selling 1,158 shares during the period. Cyndeo Wealth Partners LLC’s holdings in Visa were worth $9,993,000 at the end of the most recent reporting period.

Several other hedge funds have also recently bought and sold shares of the company. Vanguard Group Inc. boosted its stake in shares of Visa by 4.6% during the fourth quarter. Vanguard Group Inc. now owns 159,405,343 shares of the credit-card processor’s stock valued at $50,378,465,000 after acquiring an additional 7,079,706 shares during the last quarter. Geode Capital Management LLC raised its position in shares of Visa by 4.4% in the 4th quarter. Geode Capital Management LLC now owns 40,345,176 shares of the credit-card processor’s stock worth $12,729,901,000 after buying an additional 1,689,926 shares during the period. Capital International Investors raised its position in shares of Visa by 3.8% in the 4th quarter. Capital International Investors now owns 23,816,573 shares of the credit-card processor’s stock worth $7,526,660,000 after buying an additional 866,596 shares during the period. Capital World Investors raised its position in shares of Visa by 1.0% in the 4th quarter. Capital World Investors now owns 23,277,622 shares of the credit-card processor’s stock worth $7,356,614,000 after buying an additional 241,057 shares during the period. Finally, Northern Trust Corp raised its position in shares of Visa by 18.0% in the 4th quarter. Northern Trust Corp now owns 18,260,714 shares of the credit-card processor’s stock worth $5,771,116,000 after buying an additional 2,785,707 shares during the period. 82.15% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several research analysts recently weighed in on the company. UBS Group increased their target price on Visa from $395.00 to $405.00 and gave the stock a “buy” rating in a research report on Wednesday, May 28th. Evercore ISI assumed coverage on Visa in a research report on Wednesday, April 9th. They issued an “in-line” rating and a $330.00 price objective on the stock. Truist Financial assumed coverage on Visa in a research report on Monday, June 2nd. They issued a “buy” rating and a $400.00 price objective on the stock. Wall Street Zen upgraded Visa from a “hold” rating to a “buy” rating in a report on Monday, May 12th. Finally, Macquarie decreased their price target on Visa from $400.00 to $380.00 and set an “outperform” rating for the company in a report on Wednesday, April 30th. Five equities research analysts have rated the stock with a hold rating, twenty-three have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $372.80.

Insider Activity at Visa

In other Visa news, CEO Ryan Mcinerney sold 8,620 shares of Visa stock in a transaction that occurred on Tuesday, April 1st. The stock was sold at an average price of $350.44, for a total value of $3,020,792.80. Following the completion of the transaction, the chief executive officer now directly owns 537 shares in the company, valued at $188,186.28. The trade was a 94.14% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, General Counsel Julie B. Rottenberg sold 2,575 shares of the company’s stock in a transaction that occurred on Thursday, May 1st. The shares were sold at an average price of $345.58, for a total value of $889,868.50. Following the transaction, the general counsel now directly owns 11,925 shares of the company’s stock, valued at $4,121,041.50. This trade represents a 17.76% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 140,448 shares of company stock valued at $50,133,659 over the last three months. 0.13% of the stock is owned by insiders.

Visa Stock Down 5.0%

Shares of NYSE V opened at $352.75 on Monday. Visa Inc. has a 1 year low of $252.70 and a 1 year high of $375.51. The firm has a market cap of $650.87 billion, a price-to-earnings ratio of 35.56, a PEG ratio of 2.33 and a beta of 0.94. The company has a debt-to-equity ratio of 0.45, a quick ratio of 1.12 and a current ratio of 1.12. The stock’s 50-day simple moving average is $349.76 and its 200-day simple moving average is $337.77.

Visa (NYSE:V) last announced its quarterly earnings data on Tuesday, April 29th. The credit-card processor reported $2.76 earnings per share for the quarter, beating the consensus estimate of $2.68 by $0.08. The firm had revenue of $9.59 billion during the quarter, compared to analyst estimates of $9.57 billion. Visa had a return on equity of 54.79% and a net margin of 54.27%. Visa’s quarterly revenue was up 9.3% on a year-over-year basis. During the same period in the previous year, the company earned $2.51 earnings per share. As a group, equities analysts anticipate that Visa Inc. will post 11.3 earnings per share for the current fiscal year.

Visa Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, June 2nd. Investors of record on Tuesday, May 13th were issued a $0.59 dividend. This represents a $2.36 annualized dividend and a yield of 0.67%. The ex-dividend date of this dividend was Tuesday, May 13th. Visa’s dividend payout ratio is currently 23.72%.

Visa 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.