Visa Inc. (NYSE:V) is Pinnacle Financial Partners Inc’s 9th Largest Position

Pinnacle Financial Partners Inc reduced its stake in Visa Inc. (NYSE:VFree Report) by 2.0% in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 414,779 shares of the credit-card processor’s stock after selling 8,584 shares during the quarter. Visa makes up approximately 2.6% of Pinnacle Financial Partners Inc’s investment portfolio, making the stock its 9th largest position. Pinnacle Financial Partners Inc’s holdings in Visa were worth $107,988,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors also recently added to or reduced their stakes in the company. Investment Advisory Services Inc. TX ADV grew its holdings in Visa by 2.0% in the 3rd quarter. Investment Advisory Services Inc. TX ADV now owns 3,930 shares of the credit-card processor’s stock valued at $904,000 after buying an additional 78 shares in the last quarter. Camarda Financial Advisors LLC grew its holdings in Visa by 3.0% in the 2nd quarter. Camarda Financial Advisors LLC now owns 6,249 shares of the credit-card processor’s stock valued at $1,484,000 after buying an additional 182 shares in the last quarter. Wayfinding Financial LLC grew its holdings in Visa by 10.1% in the 3rd quarter. Wayfinding Financial LLC now owns 1,757 shares of the credit-card processor’s stock valued at $406,000 after buying an additional 161 shares in the last quarter. Richelieu Gestion SA acquired a new position in shares of Visa in the 4th quarter valued at $307,000. Finally, Orion Portfolio Solutions LLC lifted its stake in shares of Visa by 5,907.4% in the 2nd quarter. Orion Portfolio Solutions LLC now owns 221,012 shares of the credit-card processor’s stock valued at $52,486,000 after purchasing an additional 217,333 shares during the last quarter. 82.15% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several equities analysts have recently commented on the company. UBS Group upped their price target on Visa from $305.00 to $315.00 and gave the company a “buy” rating in a research note on Friday, January 26th. Monness Crespi & Hardt assumed coverage on Visa in a research note on Wednesday, December 20th. They issued a “neutral” rating on the stock. KeyCorp upped their price target on Visa from $275.00 to $300.00 and gave the company an “overweight” rating in a research note on Monday, January 8th. Susquehanna upped their price target on Visa from $300.00 to $326.00 and gave the company a “positive” rating in a research note on Friday, January 26th. Finally, Barclays upped their price target on Visa from $304.00 to $319.00 and gave the company an “overweight” rating in a research note on Monday, January 29th. Five investment analysts have rated the stock with a hold rating and eighteen have given a buy rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $295.82.

View Our Latest Analysis on Visa

Visa Price Performance

Shares of NYSE V opened at $278.55 on Wednesday. The stock’s 50-day moving average is $279.62 and its two-hundred day moving average is $259.44. The company has a debt-to-equity ratio of 0.54, a current ratio of 1.45 and a quick ratio of 1.45. Visa Inc. has a 1-year low of $216.14 and a 1-year high of $290.96. The company has a market cap of $511.56 billion, a price-to-earnings ratio of 32.05, a price-to-earnings-growth ratio of 1.92 and a beta of 0.96.

Visa (NYSE:VGet Free Report) last issued its quarterly earnings results on Thursday, January 25th. The credit-card processor reported $2.41 earnings per share for the quarter, topping the consensus estimate of $2.34 by $0.07. Visa had a return on equity of 50.02% and a net margin of 53.92%. The company had revenue of $8.63 billion for the quarter, compared to the consensus estimate of $8.55 billion. During the same quarter in the prior year, the business earned $2.18 EPS. Visa’s revenue was up 9.3% on a year-over-year basis. Analysts forecast that Visa Inc. will post 9.89 EPS for the current fiscal year.

Visa Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, March 1st. Stockholders of record on Friday, February 9th were issued a $0.52 dividend. The ex-dividend date was Thursday, February 8th. This represents a $2.08 dividend on an annualized basis and a dividend yield of 0.75%. Visa’s payout ratio is currently 23.94%.

Insider Activity

In other news, insider Rajat Taneja sold 36,546 shares of the stock in a transaction dated Friday, January 19th. The stock was sold at an average price of $270.20, for a total value of $9,874,729.20. Following the transaction, the insider now owns 232,112 shares in the company, valued at approximately $62,716,662.40. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. In other news, CEO Ryan Mcinerney sold 8,200 shares of the stock in a transaction dated Monday, April 1st. The stock was sold at an average price of $280.36, for a total value of $2,298,952.00. Following the transaction, the chief executive officer now owns 538 shares in the company, valued at approximately $150,833.68. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Rajat Taneja sold 36,546 shares of the firm’s stock in a transaction that occurred on Friday, January 19th. The stock was sold at an average price of $270.20, for a total value of $9,874,729.20. Following the transaction, the insider now owns 232,112 shares in the company, valued at approximately $62,716,662.40. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 55,511 shares of company stock worth $15,131,081. 0.19% of the stock is currently owned by insiders.

Visa Company Profile

(Free Report)

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.

See Also

Institutional Ownership by Quarter for Visa (NYSE:V)

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