Syntegra Private Wealth Group LLC Has $3.63 Million Stock Position in Visa Inc. $V

Syntegra Private Wealth Group LLC boosted its position in Visa Inc. (NYSE:V) by 1.2% in the 2nd quarter, HoldingsChannel reports. The firm owned 10,222 shares of the credit-card processor’s stock after acquiring an additional 124 shares during the period. Visa makes up about 0.4% of Syntegra Private Wealth Group LLC’s portfolio, making the stock its 29th largest position. Syntegra Private Wealth Group LLC’s holdings in Visa were worth $3,629,000 at the end of the most recent quarter.

Several other hedge funds have also bought and sold shares of the company. Mid American Wealth Advisory Group Inc. acquired a new stake in Visa in the 2nd quarter valued at about $61,000. Triton Financial Group Inc acquired a new stake in Visa in the 2nd quarter valued at about $1,427,000. Clune & Associates LTD. lifted its stake in Visa by 5.9% in the 2nd quarter. Clune & Associates LTD. now owns 1,699 shares of the credit-card processor’s stock valued at $603,000 after purchasing an additional 95 shares during the last quarter. Klingman & Associates LLC lifted its stake in Visa by 12.9% in the 2nd quarter. Klingman & Associates LLC now owns 8,824 shares of the credit-card processor’s stock valued at $3,133,000 after purchasing an additional 1,005 shares during the last quarter. Finally, Phoenix Financial Ltd. raised its holdings in Visa by 23.5% in the 2nd quarter. Phoenix Financial Ltd. now owns 64,738 shares of the credit-card processor’s stock valued at $22,937,000 after acquiring an additional 12,324 shares during the period. 82.15% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several research analysts have weighed in on the stock. Robert W. Baird set a $410.00 price target on shares of Visa and gave the company an “outperform” rating in a report on Monday, October 6th. UBS Group reissued a “buy” rating and issued a $415.00 price target (up from $405.00) on shares of Visa in a report on Wednesday, July 30th. Deutsche Bank Aktiengesellschaft assumed coverage on shares of Visa in a report on Thursday, July 17th. They issued a “buy” rating and a $410.00 price target on the stock. Macquarie increased their price target on shares of Visa from $380.00 to $425.00 and gave the company an “outperform” rating in a report on Thursday, July 31st. Finally, KeyCorp reissued an “overweight” rating and issued a $405.00 price target on shares of Visa in a report on Wednesday. Three equities research analysts have rated the stock with a Strong Buy rating, twenty have assigned a Buy rating and five have assigned a Hold rating to the stock. Based on data from MarketBeat.com, Visa currently has an average rating of “Moderate Buy” and an average price target of $392.75.

Visa Stock Up 0.1%

Shares of V opened at $345.82 on Friday. Visa Inc. has a 12 month low of $280.78 and a 12 month high of $375.51. The firm’s 50 day moving average is $344.73 and its 200-day moving average is $347.33. The stock has a market capitalization of $633.81 billion, a PE ratio of 33.77, a P/E/G ratio of 2.04 and a beta of 0.90. The company has a current ratio of 1.12, a quick ratio of 1.12 and a debt-to-equity ratio of 0.52.

Visa (NYSE:V) last announced its earnings results on Tuesday, July 29th. The credit-card processor reported $2.98 EPS for the quarter, topping the consensus estimate of $2.85 by $0.13. Visa had a net margin of 52.16% and a return on equity of 58.93%. The company had revenue of $10.17 billion for the quarter, compared to analysts’ expectations of $9.82 billion. During the same period last year, the firm earned $2.42 earnings per share. The business’s revenue for the quarter was up 14.3% on a year-over-year basis. Equities research analysts forecast that Visa Inc. will post 11.3 EPS for the current year.

Visa Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, September 2nd. Stockholders of record on Tuesday, August 12th were issued a dividend of $0.59 per share. The ex-dividend date of this dividend was Tuesday, August 12th. This represents a $2.36 annualized dividend and a dividend yield of 0.7%. Visa’s dividend payout ratio (DPR) is currently 23.05%.

Insider Activity at Visa

In other news, CEO Ryan Mcinerney sold 10,485 shares of the firm’s stock in a transaction that occurred on Wednesday, October 1st. The shares were sold at an average price of $342.30, for a total transaction of $3,589,015.50. Following the transaction, the chief executive officer directly owned 537 shares of the company’s stock, valued at approximately $183,815.10. This trade represents a 95.13% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, General Counsel Julie B. Rottenberg sold 2,027 shares of Visa stock in a transaction that occurred on Monday, August 18th. The shares were sold at an average price of $344.02, for a total transaction of $697,328.54. Following the completion of the transaction, the general counsel directly owned 11,925 shares in the company, valued at $4,102,438.50. This trade represents a 14.53% decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.13% of the stock is currently owned by company insiders.

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.