Cyndeo Wealth Partners LLC Grows Position in Visa Inc. (NYSE:V)

Cyndeo Wealth Partners LLC lifted its position in shares of Visa Inc. (NYSE:V) by 1.1% in the fourth quarter, Holdings Channel reports. The firm owned 29,671 shares of the credit-card processor’s stock after purchasing an additional 316 shares during the period. Cyndeo Wealth Partners LLC’s holdings in Visa were worth $9,377,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently bought and sold shares of V. State Street Corp grew its stake in shares of Visa by 4.5% in the third quarter. State Street Corp now owns 76,610,942 shares of the credit-card processor’s stock valued at $21,064,179,000 after buying an additional 3,327,977 shares in the last quarter. FMR LLC boosted its holdings in Visa by 6.1% in the 3rd quarter. FMR LLC now owns 57,111,843 shares of the credit-card processor’s stock worth $15,702,901,000 after acquiring an additional 3,265,518 shares during the period. Geode Capital Management LLC grew its position in Visa by 7.7% in the third quarter. Geode Capital Management LLC now owns 38,655,250 shares of the credit-card processor’s stock valued at $10,601,135,000 after acquiring an additional 2,772,549 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its stake in shares of Visa by 1.1% during the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 11,597,969 shares of the credit-card processor’s stock valued at $3,188,862,000 after purchasing an additional 123,927 shares during the period. Finally, Charles Schwab Investment Management Inc. lifted its position in shares of Visa by 6.2% during the third quarter. Charles Schwab Investment Management Inc. now owns 11,522,445 shares of the credit-card processor’s stock worth $3,168,096,000 after purchasing an additional 670,590 shares in the last quarter. Institutional investors and hedge funds own 82.15% of the company’s stock.

Insider Activity at Visa

In related news, insider Paul D. Fabara sold 2,171 shares of the stock in a transaction dated Friday, November 22nd. The shares were sold at an average price of $307.97, for a total value of $668,602.87. Following the completion of the transaction, the insider now owns 17,894 shares in the company, valued at $5,510,815.18. This represents a 10.82 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, CEO Ryan Mcinerney sold 8,620 shares of the business’s stock in a transaction dated Thursday, January 2nd. The stock was sold at an average price of $317.78, for a total transaction of $2,739,263.60. The disclosure for this sale can be found here. 0.13% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

A number of equities research analysts recently weighed in on the stock. Keefe, Bruyette & Woods raised their price target on shares of Visa from $335.00 to $360.00 and gave the company an “outperform” rating in a report on Monday, December 9th. Mizuho raised their target price on Visa from $279.00 to $292.00 and gave the company a “neutral” rating in a research note on Friday, November 1st. Citigroup boosted their price target on Visa from $326.00 to $354.00 and gave the stock a “buy” rating in a research note on Tuesday, January 14th. Jefferies Financial Group raised their price objective on Visa from $320.00 to $330.00 and gave the company a “buy” rating in a research note on Wednesday, October 30th. Finally, Bank of America increased their target price on Visa from $314.00 to $331.00 and gave the company a “neutral” rating in a research note on Wednesday, January 22nd. Four investment analysts have rated the stock with a hold rating, twenty-three have given a buy rating and two have given a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $335.52.

Visa Stock Up 1.2 %

V stock opened at $334.16 on Tuesday. The stock has a market cap of $622.49 billion, a PE ratio of 34.34, a price-to-earnings-growth ratio of 2.17 and a beta of 0.96. The firm’s 50-day simple moving average is $314.95 and its 200 day simple moving average is $290.79. Visa Inc. has a fifty-two week low of $252.70 and a fifty-two week high of $335.49. The company has a quick ratio of 1.28, a current ratio of 1.28 and a debt-to-equity ratio of 0.55.

Visa (NYSE:V) last released its quarterly earnings results on Tuesday, October 29th. The credit-card processor reported $2.71 earnings per share for the quarter, beating analysts’ consensus estimates of $2.58 by $0.13. The company 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%. The business’s revenue for the quarter was up 11.7% compared to the same quarter last year. During the same quarter in the previous year, the company posted $2.33 earnings per share. As a group, sell-side analysts predict that Visa Inc. will post 11.19 EPS for the current year.

About Visa

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.