Synovus Financial Corp Has $33.04 Million Stock Holdings in Visa Inc. (NYSE:V)

Synovus Financial Corp decreased its position in Visa Inc. (NYSE:V) by 8.2% in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 104,516 shares of the credit-card processor’s stock after selling 9,344 shares during the period. Synovus Financial Corp’s holdings in Visa were worth $33,037,000 as of its most recent SEC filing.

Other hedge funds also recently modified their holdings of the company. Decker Retirement Planning Inc. bought a new position in Visa during the fourth quarter worth about $26,000. Bradley & Co. Private Wealth Management LLC acquired a new position in shares of Visa in the 4th quarter worth approximately $27,000. POM Investment Strategies LLC lifted its position in shares of Visa by 48.5% during the 4th quarter. POM Investment Strategies LLC now owns 98 shares of the credit-card processor’s stock worth $31,000 after buying an additional 32 shares during the period. Modus Advisors LLC acquired a new stake in Visa in the 4th quarter valued at $32,000. Finally, Compass Planning Associates Inc bought a new stake in Visa in the fourth quarter valued at $32,000. Institutional investors own 82.15% of the company’s stock.

Insider Activity at Visa

In related news, insider Paul D. Fabara sold 39,350 shares of the stock in a transaction on Friday, March 14th. The shares were sold at an average price of $327.20, for a total transaction of $12,875,320.00. Following the completion of the transaction, the insider now owns 26,413 shares in the company, valued at approximately $8,642,333.60. This represents a 59.84 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO Ryan Mcinerney sold 8,620 shares of Visa stock in a transaction on Monday, February 3rd. The shares were sold at an average price of $340.00, for a total transaction of $2,930,800.00. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 143,205 shares of company stock valued at $48,842,490. 0.13% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

Several equities research analysts have recently commented on the stock. Susquehanna restated a “positive” rating on shares of Visa in a research note on Friday, March 21st. Morgan Stanley boosted their price target on shares of Visa from $326.00 to $371.00 and gave the company an “overweight” rating in a research report on Wednesday, December 18th. Keefe, Bruyette & Woods reiterated a “hold” rating on shares of Visa in a research note on Thursday, February 13th. Citigroup reissued a “neutral” rating on shares of Visa in a report on Thursday, February 13th. Finally, Bank of America raised their price target on Visa from $331.00 to $363.00 and gave the company a “neutral” rating in a report on Friday, January 31st. Seven equities research analysts have rated the stock with a hold rating, twenty-one have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $355.84.

Visa Stock Performance

V stock opened at $333.69 on Friday. Visa Inc. has a 1-year low of $252.70 and a 1-year high of $366.54. The business’s 50-day moving average price is $342.40 and its two-hundred day moving average price is $318.76. The firm has a market cap of $619.91 billion, a PE ratio of 33.64, a P/E/G ratio of 2.33 and a beta of 0.94. The company has a current ratio of 1.12, a quick 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 return on equity of 54.79% and a net margin of 54.27%. As a group, research analysts forecast that Visa Inc. will post 11.3 earnings per share for the current year.

Visa Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, March 3rd. Investors of record on Tuesday, February 11th were given a $0.59 dividend. The ex-dividend date was Tuesday, February 11th. This represents a $2.36 annualized dividend and a yield of 0.71%. Visa’s dividend payout ratio is currently 23.79%.

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.