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.

In other news, insider Vasant M. Prabhu sold 25,051 shares of the business’s stock in a transaction that occurred on Wednesday, August 21st. The stock was sold at an average price of $181.14, for a total transaction of $4,537,738.14. Following the completion of the sale, the insider now owns 62,223 shares in the company, valued at $11,271,074.22. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, Director Lloyd Carney sold 3,500 shares of the business’s stock in a transaction that occurred on Friday, July 26th. The shares were sold at an average price of $182.73, for a total value of $639,555.00. Following the sale, the director now owns 3,452 shares of the company’s stock, valued at approximately $630,783.96. The disclosure for this sale can be found here. Insiders own 0.17% of the company’s stock.

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%.

About Visa

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.

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Institutional Ownership by Quarter for Visa (NYSE:V)

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