Pinnacle Holdings LLC Sells 232 Shares of Visa Inc (NYSE:V)
Pinnacle Holdings LLC lessened its holdings in Visa Inc (NYSE:V) by 1.2% during the second quarter, HoldingsChannel.com reports. The fund owned 18,777 shares of the credit-card processor’s stock after selling 232 shares during the period. Visa makes up about 1.2% of Pinnacle Holdings LLC’s holdings, making the stock its 21st biggest holding. Pinnacle Holdings LLC’s holdings in Visa were worth $3,259,000 at the end of the most recent quarter.
A number of other institutional investors have also added to or reduced their stakes in V. Berkeley Capital Partners LLC lifted its stake in shares of Visa by 1.5% in the second quarter. Berkeley Capital Partners LLC now owns 3,939 shares of the credit-card processor’s stock worth $684,000 after acquiring an additional 57 shares during the period. Enterprise Financial Services Corp lifted its stake in shares of Visa by 0.8% in the second quarter. Enterprise Financial Services Corp now owns 7,649 shares of the credit-card processor’s stock worth $1,328,000 after acquiring an additional 59 shares during the period. Radnor Capital Management LLC lifted its stake in shares of Visa by 0.8% in the second quarter. Radnor Capital Management LLC now owns 8,060 shares of the credit-card processor’s stock worth $1,399,000 after acquiring an additional 60 shares during the period. Peninsula Wealth LLC lifted its stake in shares of Visa by 0.8% in the second quarter. Peninsula Wealth LLC now owns 7,608 shares of the credit-card processor’s stock worth $1,319,000 after acquiring an additional 61 shares during the period. Finally, Glassman Wealth Services lifted its stake in shares of Visa by 2.2% in the second quarter. Glassman Wealth Services now owns 3,024 shares of the credit-card processor’s stock worth $525,000 after acquiring an additional 64 shares during the period. Hedge funds and other institutional investors own 81.20% of the company’s stock.
A number of equities analysts recently commented on the company. Piper Jaffray Companies set a $207.00 price objective on Visa and gave the stock a “buy” rating in a research note on Wednesday, July 24th. Barclays lifted their price objective on Visa from $181.00 to $195.00 and gave the stock an “overweight” rating in a research note on Friday, July 19th. UBS Group lifted their price objective on Visa from $183.00 to $187.00 and gave the stock a “neutral” rating in a research note on Thursday, August 1st. Zacks Investment Research lowered Visa from a “buy” rating to a “hold” rating and set a $180.00 price objective on the stock. in a research note on Saturday, June 15th. Finally, Credit Suisse Group lifted their price objective on Visa from $200.00 to $203.00 and gave the stock an “outperform” rating in a research note on Wednesday, July 24th. Three research analysts have rated the stock with a hold rating and twenty-two have issued a buy rating to the stock. Visa currently has a consensus rating of “Buy” and a consensus price target of $196.57.
V traded down $0.57 during trading on Friday, hitting $177.41. The company’s stock had a trading volume of 574,672 shares, compared to its average volume of 5,973,028. Visa Inc has a twelve month low of $121.60 and a twelve month high of $187.05. The company has a quick ratio of 1.69, a current ratio of 1.69 and a debt-to-equity ratio of 0.57. The stock’s fifty day moving average price is $179.24 and its 200-day moving average price is $167.08. The firm has a market capitalization of $349.86 billion, a P/E ratio of 38.49, a PEG ratio of 1.98 and a beta of 0.97.
Visa (NYSE:V) last issued its quarterly earnings results on Tuesday, July 23rd. The credit-card processor reported $1.37 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $1.33 by $0.04. The firm had revenue of $5.84 billion for the quarter, compared to analyst estimates of $5.70 billion. Visa had a return on equity of 41.04% and a net margin of 53.43%. The company’s revenue was up 11.5% compared to the same quarter last year. During the same period in the previous year, the firm earned $1.20 earnings per share. Equities research analysts expect that Visa Inc will post 5.4 EPS for the current fiscal year.
The company also recently disclosed a quarterly dividend, which was paid on Tuesday, September 3rd. Stockholders of record on Friday, August 16th were issued a dividend of $0.25 per share. The ex-dividend date was Thursday, August 15th. This represents a $1.00 annualized dividend and a dividend yield of 0.56%. Visa’s dividend payout ratio is 21.69%.
Visa Inc operates as a payments technology company worldwide. The company facilitates commerce through the transfer of value and information among consumers, merchants, financial institutions, businesses, strategic partners, and government entities. It operates VisaNet, a processing network that enables authorization, clearing, and settlement of payment transactions; and offers fraud protection for account holders and assured payment for merchants.
Featured Article: What are popular green investing opportunities?
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:V).
Receive News & Ratings for Visa Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Visa and related companies with MarketBeat.com's FREE daily email newsletter.