Pinnacle Financial Partners Inc Sells 8,584 Shares of Visa Inc. (NYSE:V)

Pinnacle Financial Partners Inc lowered its position in Visa Inc. (NYSE:VFree Report) by 2.0% during the fourth quarter, Holdings Channel.com reports. The fund owned 414,779 shares of the credit-card processor’s stock after selling 8,584 shares during the quarter. Visa accounts for 2.6% of Pinnacle Financial Partners Inc’s holdings, making the stock its 9th largest holding. Pinnacle Financial Partners Inc’s holdings in Visa were worth $107,988,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. GoalVest Advisory LLC lifted its holdings in Visa by 3.4% during the 4th quarter. GoalVest Advisory LLC now owns 1,217 shares of the credit-card processor’s stock worth $317,000 after buying an additional 40 shares during the last quarter. Destiny Wealth Partners LLC lifted its holdings in Visa by 2.5% during the 4th quarter. Destiny Wealth Partners LLC now owns 1,668 shares of the credit-card processor’s stock worth $433,000 after buying an additional 40 shares during the last quarter. Sunflower Bank N.A. lifted its holdings in Visa by 1.3% during the 4th quarter. Sunflower Bank N.A. now owns 3,143 shares of the credit-card processor’s stock worth $818,000 after buying an additional 41 shares during the last quarter. HWG Holdings LP lifted its holdings in Visa by 18.4% during the 2nd quarter. HWG Holdings LP now owns 270 shares of the credit-card processor’s stock worth $64,000 after buying an additional 42 shares during the last quarter. Finally, Parker Financial LLC raised its position in shares of Visa by 4.8% during the 4th quarter. Parker Financial LLC now owns 925 shares of the credit-card processor’s stock worth $241,000 after purchasing an additional 42 shares during the period. Institutional investors and hedge funds own 82.15% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages have recently weighed in on V. Barclays increased their price target on Visa from $304.00 to $319.00 and gave the stock an “overweight” rating in a research report on Monday, January 29th. William Blair reiterated an “outperform” rating on shares of Visa in a research report on Friday, January 26th. Susquehanna increased their price target on Visa from $300.00 to $326.00 and gave the stock a “positive” rating in a research report on Friday, January 26th. Keefe, Bruyette & Woods increased their price target on Visa from $305.00 to $315.00 and gave the stock an “outperform” rating in a research report on Friday, January 26th. Finally, Wells Fargo & Company increased their price target on Visa from $300.00 to $325.00 and gave the stock an “overweight” rating in a research report on Wednesday, March 6th. Five investment analysts have rated the stock with a hold rating and eighteen have assigned a buy rating to the stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $295.82.

Check Out Our Latest Report on Visa

Visa Stock Performance

Shares of NYSE V opened at $278.55 on Wednesday. The stock has a fifty day moving average price of $279.62 and a two-hundred day moving average price of $259.44. The company has a debt-to-equity ratio of 0.54, a quick ratio of 1.45 and a current ratio of 1.45. The firm has a market cap of $511.56 billion, a P/E ratio of 32.05, a PEG ratio of 1.92 and a beta of 0.96. Visa Inc. has a 1 year low of $216.14 and a 1 year high of $290.96.

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 (EPS) for the quarter, beating analysts’ consensus estimates of $2.34 by $0.07. The firm had revenue of $8.63 billion during the quarter, compared to analyst estimates of $8.55 billion. Visa had a return on equity of 50.02% and a net margin of 53.92%. The firm’s quarterly revenue was up 9.3% on a year-over-year basis. During the same period last year, the company posted $2.18 EPS. Research analysts forecast that Visa Inc. will post 9.89 EPS for the current fiscal year.

Visa Announces Dividend

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

Insider Transactions at Visa

In other news, insider Rajat Taneja sold 36,546 shares of the firm’s stock in a transaction on Friday, January 19th. The stock was sold at an average price of $270.20, for a total transaction of $9,874,729.20. Following the completion of the sale, the insider now directly owns 232,112 shares of the company’s stock, valued at approximately $62,716,662.40. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. In other news, insider Rajat Taneja sold 36,546 shares of the firm’s stock in a transaction on Friday, January 19th. The stock was sold at an average price of $270.20, for a total transaction of $9,874,729.20. Following the completion of the sale, the insider now directly owns 232,112 shares of the company’s stock, valued at approximately $62,716,662.40. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, CAO Peter M. Andreski sold 2,615 shares of the firm’s stock in a transaction on Wednesday, February 7th. The stock was sold at an average price of $278.88, for a total value of $729,271.20. Following the sale, the chief accounting officer now directly owns 4,898 shares of the company’s stock, valued at $1,365,954.24. The disclosure for this sale can be found here. Insiders sold a total of 55,511 shares of company stock valued at $15,131,081 in the last three months. 0.19% of the stock is currently owned by corporate 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.

Further Reading

Want to see what other hedge funds are holding V? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Visa Inc. (NYSE:VFree Report).

Institutional Ownership by Quarter for Visa (NYSE:V)

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