Symphony Financial Services Inc. Reduces Stock Position in Visa Inc. (NYSE:V)

Symphony Financial Services Inc. lessened its position in shares of Visa Inc. (NYSE:V) by 2.2% during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 10,842 shares of the credit-card processor’s stock after selling 247 shares during the quarter. Visa accounts for 2.8% of Symphony Financial Services Inc.’s portfolio, making the stock its 11th largest position. Symphony Financial Services Inc.’s holdings in Visa were worth $3,427,000 at the end of the most recent reporting period.

Other large investors have also added to or reduced their stakes in the company. Riverstone Advisors LLC acquired a new position in shares of Visa in the 4th quarter valued at about $217,000. Journey Strategic Wealth LLC raised its holdings in Visa by 16.4% in the 4th quarter. Journey Strategic Wealth LLC now owns 9,678 shares of the credit-card processor’s stock worth $3,058,000 after purchasing an additional 1,361 shares during the period. Copley Financial Group Inc. acquired a new position in Visa in the 3rd quarter worth about $616,000. Calamos Wealth Management LLC raised its holdings in Visa by 0.6% in the 4th quarter. Calamos Wealth Management LLC now owns 77,443 shares of the credit-card processor’s stock worth $24,475,000 after purchasing an additional 435 shares during the period. Finally, Oak Ridge Investments LLC raised its holdings in Visa by 5.9% in the 4th quarter. Oak Ridge Investments LLC now owns 75,456 shares of the credit-card processor’s stock worth $23,847,000 after purchasing an additional 4,198 shares during the period. Hedge funds and other institutional investors own 82.15% of the company’s stock.

Insider Activity

In related news, CEO Ryan Mcinerney sold 8,620 shares of the company’s stock in a transaction on Thursday, January 2nd. The shares were sold at an average price of $317.78, for a total value of $2,739,263.60. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Tullier Kelly Mahon sold 33,741 shares of the company’s stock in a transaction on Friday, February 7th. The shares were sold at an average price of $349.77, for a total transaction of $11,801,589.57. Following the completion of the sale, the insider now owns 36,566 shares of the company’s stock, valued at approximately $12,789,689.82. This trade represents a 47.99 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 64,505 shares of company stock valued at $22,290,507. Company insiders own 0.13% of the company’s stock.

Analysts Set New Price Targets

A number of research firms recently weighed in on V. Keefe, Bruyette & Woods reaffirmed a “hold” rating on shares of Visa in a report on Thursday, February 13th. Citigroup reaffirmed a “neutral” rating on shares of Visa in a report on Thursday, February 13th. Piper Sandler reaffirmed an “overweight” rating and issued a $383.00 price target (up previously from $368.00) on shares of Visa in a report on Friday, January 31st. The Goldman Sachs Group upped their price target on Visa from $346.00 to $384.00 and gave the stock a “buy” rating in a report on Friday, January 31st. Finally, Barclays boosted their price objective on Visa from $361.00 to $396.00 and gave the stock an “overweight” rating in a research note on Monday, February 3rd. Six investment analysts have rated the stock with a hold rating, twenty-three have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, Visa has a consensus rating of “Moderate Buy” and a consensus target price of $353.96.

Visa Price Performance

V stock opened at $352.18 on Thursday. Visa Inc. has a 52-week low of $252.70 and a 52-week high of $366.54. The business has a fifty day moving average of $335.17 and a two-hundred day moving average of $307.55. The stock has a market cap of $654.27 billion, a price-to-earnings ratio of 35.50, a price-to-earnings-growth ratio of 2.33 and a beta of 0.95. The company has a quick ratio of 1.12, a current ratio of 1.12 and a debt-to-equity ratio of 0.45.

Visa (NYSE:V) last issued its quarterly earnings data on Thursday, January 30th. The credit-card processor reported $2.75 earnings per share (EPS) for the quarter, beating 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%. As a group, research analysts anticipate that Visa Inc. will post 11.3 earnings per share for the current year.

Visa Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, March 3rd. Stockholders of record on Tuesday, February 11th were paid a $0.59 dividend. This represents a $2.36 dividend on an annualized basis and a dividend yield of 0.67%. The ex-dividend date of this dividend was Tuesday, February 11th. Visa’s dividend payout ratio (DPR) is 23.79%.

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.