Pinnacle Financial Group LLC IL Makes New Investment in Visa Inc. (NYSE:V)

Pinnacle Financial Group LLC IL bought a new position in shares of Visa Inc. (NYSE:V) during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor bought 681 shares of the credit-card processor’s stock, valued at approximately $215,000.

A number of other institutional investors and hedge funds have also recently made changes to their positions in V. Norges Bank acquired a new position in shares of Visa during the 4th quarter worth approximately $5,171,271,000. Vanguard Group Inc. grew its position in shares of Visa by 4.6% during the 4th quarter. Vanguard Group Inc. now owns 159,405,343 shares of the credit-card processor’s stock worth $50,378,465,000 after purchasing an additional 7,079,706 shares in the last quarter. Raymond James Financial Inc. bought a new stake in shares of Visa during the 4th quarter worth approximately $1,955,403,000. Proficio Capital Partners LLC lifted its holdings in shares of Visa by 17,018.7% during the 4th quarter. Proficio Capital Partners LLC now owns 3,949,118 shares of the credit-card processor’s stock worth $1,248,079,000 after acquiring an additional 3,926,049 shares during the period. Finally, Northern Trust Corp lifted its holdings in shares of Visa by 18.0% during the 4th quarter. Northern Trust Corp now owns 18,260,714 shares of the credit-card processor’s stock worth $5,771,116,000 after acquiring an additional 2,785,707 shares during the period. Institutional investors and hedge funds own 82.15% of the company’s stock.

Visa Price Performance

V stock opened at $358.59 on Thursday. The company has a fifty day moving average price of $340.60 and a 200-day moving average price of $330.88. The company has a market capitalization of $661.66 billion, a P/E ratio of 36.15, a PEG ratio of 2.33 and a beta of 0.96. Visa Inc. has a 52-week low of $252.70 and a 52-week high of $369.15. The company has a debt-to-equity ratio of 0.45, a quick ratio of 1.12 and a current ratio of 1.12.

Visa (NYSE:V) last released its quarterly earnings results on Tuesday, April 29th. The credit-card processor reported $2.76 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.68 by $0.08. The firm had revenue of $9.59 billion during the quarter, compared to the consensus estimate of $9.57 billion. Visa had a net margin of 54.27% and a return on equity of 54.79%. The company’s revenue for the quarter was up 9.3% on a year-over-year basis. During the same quarter last year, the firm earned $2.51 earnings per share. As a group, equities analysts expect that Visa Inc. will post 11.3 EPS for the current year.

Visa Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, June 2nd. Stockholders of record on Tuesday, May 13th will be given a dividend of $0.59 per share. This represents a $2.36 annualized dividend and a dividend yield of 0.66%. The ex-dividend date of this dividend is Tuesday, May 13th. Visa’s dividend payout ratio (DPR) is presently 23.72%.

Analyst Upgrades and Downgrades

A number of brokerages have recently weighed in on V. Oppenheimer reaffirmed an “outperform” rating on shares of Visa in a report on Thursday, February 13th. BMO Capital Markets upped their price target on shares of Visa from $370.00 to $380.00 and gave the stock an “outperform” rating in a report on Wednesday, April 30th. Citigroup reaffirmed a “neutral” rating on shares of Visa in a report on Thursday, February 13th. Wells Fargo & Company upped their price target on shares of Visa from $360.00 to $395.00 and gave the stock an “overweight” rating in a report on Friday, January 31st. Finally, UBS Group cut their price target on shares of Visa from $400.00 to $395.00 and set a “buy” rating for the company in a report on Wednesday, April 30th. Six research analysts have rated the stock with a hold rating, twenty-one have issued a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $362.38.

Insider Transactions at Visa

In other news, General Counsel Julie B. Rottenberg sold 2,575 shares of the stock in a transaction on Thursday, May 1st. The shares were sold at an average price of $345.58, for a total transaction of $889,868.50. Following the completion of the sale, the general counsel now directly owns 11,925 shares in the company, valued at $4,121,041.50. This represents a 17.76% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, insider Paul D. Fabara sold 39,350 shares of the stock in a transaction on Friday, March 14th. The stock was sold at an average price of $327.20, for a total transaction of $12,875,320.00. Following the sale, the insider now owns 26,413 shares of the company’s stock, valued at approximately $8,642,333.60. This trade represents a 59.84% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 121,948 shares of company stock worth $41,548,282 over the last three months. 0.13% of the stock is owned by company insiders.

Visa Profile

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.