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

Cyndeo Wealth Partners LLC lessened its position in Visa Inc. (NYSE:V - Free Report) by 3.9% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 28,513 shares of the credit-card processor's stock after selling 1,158 shares during the quarter. Cyndeo Wealth Partners LLC's holdings in Visa were worth $9,993,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently modified their holdings of V. Capital & Planning LLC increased its holdings in Visa by 21.2% during the 4th quarter. Capital & Planning LLC now owns 949 shares of the credit-card processor's stock worth $300,000 after purchasing an additional 166 shares during the period. Sovereign Investment Advisors LLC purchased a new stake in Visa during the 4th quarter worth about $424,000. Brighton Jones LLC increased its holdings in Visa by 50.1% during the 4th quarter. Brighton Jones LLC now owns 20,635 shares of the credit-card processor's stock worth $6,522,000 after purchasing an additional 6,883 shares during the period. Union Bancaire Privee UBP SA purchased a new stake in Visa during the 4th quarter worth about $202,074,000. Finally, Revolve Wealth Partners LLC increased its holdings in Visa by 68.9% during the 4th quarter. Revolve Wealth Partners LLC now owns 11,811 shares of the credit-card processor's stock worth $3,733,000 after purchasing an additional 4,817 shares during the period. Hedge funds and other institutional investors own 82.15% of the company's stock.

Analyst Ratings Changes

Several research analysts have recently issued reports on the company. Citigroup assumed coverage on Visa in a research report on Monday, June 2nd. They set a "buy" rating for the company. William Blair reaffirmed an "outperform" rating on shares of Visa in a research report on Wednesday, April 30th. BMO Capital Markets upped their price objective on Visa from $370.00 to $380.00 and gave the stock an "outperform" rating in a research report on Wednesday, April 30th. Wall Street Zen raised Visa from a "hold" rating to a "buy" rating in a research report on Monday, May 12th. Finally, Susquehanna reaffirmed a "positive" rating on shares of Visa in a research report on Friday, March 21st. Five research analysts have rated the stock with a hold rating, twenty-three have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, Visa has a consensus rating of "Moderate Buy" and a consensus target price of $372.80.

Visa Trading Down 5.0%

NYSE:V opened at $352.75 on Monday. The firm has a market cap of $650.87 billion, a P/E ratio of 35.56, a PEG 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. The stock's 50 day simple moving average is $349.76 and its 200-day simple moving average is $337.77. Visa Inc. has a 12-month low of $252.70 and a 12-month high of $375.51.

Visa (NYSE:V - Get Free Report) last posted its quarterly earnings data on Tuesday, April 29th. The credit-card processor reported $2.76 earnings per share for the quarter, beating analysts' consensus estimates of $2.68 by $0.08. The firm had revenue of $9.59 billion for the quarter, compared to analyst estimates of $9.57 billion. Visa had a net margin of 54.27% and a return on equity of 54.79%. Visa's quarterly revenue was up 9.3% on a year-over-year basis. During the same period last year, the firm posted $2.51 EPS. Equities analysts anticipate that Visa Inc. will post 11.3 EPS for the current year.

Visa Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, June 2nd. Stockholders of record on Tuesday, May 13th were paid a dividend of $0.59 per share. The ex-dividend date of this dividend was Tuesday, May 13th. This represents a $2.36 dividend on an annualized basis and a dividend yield of 0.67%. Visa's dividend payout ratio (DPR) is 23.72%.

Insider Buying and Selling

In other Visa news, insider Paul D. Fabara sold 11,636 shares of the stock in a transaction on Wednesday, June 11th. The stock was sold at an average price of $375.00, for a total value of $4,363,500.00. Following the completion of the transaction, the insider now owns 26,413 shares in the company, valued at approximately $9,904,875. This represents a 30.58% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CEO Ryan Mcinerney sold 8,620 shares of the stock in a transaction 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 owns 537 shares of the company's stock, valued at $188,186.28. The trade was a 94.14% decrease in their position. The disclosure for this sale can be found here. Insiders sold 140,448 shares of company stock valued at $50,133,659 over the last ninety days. Corporate insiders own 0.13% of the company's stock.

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.

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