Pinnacle Wealth Management Group Inc. Trims Stock Position in Visa Inc. $V

Pinnacle Wealth Management Group Inc. cut its stake in shares of Visa Inc. (NYSE:V) by 1.6% during the second quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 4,259 shares of the credit-card processor’s stock after selling 69 shares during the quarter. Pinnacle Wealth Management Group Inc.’s holdings in Visa were worth $1,512,000 at the end of the most recent reporting period.

A number of other institutional investors have also modified their holdings of the stock. Sage Mountain Advisors LLC increased its position in shares of Visa by 6.8% during the second quarter. Sage Mountain Advisors LLC now owns 14,649 shares of the credit-card processor’s stock worth $5,201,000 after acquiring an additional 933 shares during the period. Lee Danner & Bass Inc. increased its holdings in Visa by 1.0% during the second quarter. Lee Danner & Bass Inc. now owns 64,900 shares of the credit-card processor’s stock valued at $23,043,000 after buying an additional 625 shares during the period. Sumitomo Mitsui Trust Group Inc. increased its holdings in Visa by 0.7% during the second quarter. Sumitomo Mitsui Trust Group Inc. now owns 4,456,263 shares of the credit-card processor’s stock valued at $1,582,196,000 after buying an additional 32,269 shares during the period. Moloney Securities Asset Management LLC increased its holdings in Visa by 0.7% during the second quarter. Moloney Securities Asset Management LLC now owns 15,111 shares of the credit-card processor’s stock valued at $5,365,000 after buying an additional 103 shares during the period. Finally, Jackson Hole Capital Partners LLC increased its holdings in Visa by 5.5% during the second quarter. Jackson Hole Capital Partners LLC now owns 10,116 shares of the credit-card processor’s stock valued at $3,592,000 after buying an additional 528 shares during the period. 82.15% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other Visa news, CEO Ryan Mcinerney sold 10,485 shares of Visa stock in a transaction on Wednesday, October 1st. The shares were sold at an average price of $342.30, for a total value of $3,589,015.50. Following the completion of the transaction, the chief executive officer owned 537 shares of the company’s stock, valued at approximately $183,815.10. The trade was a 95.13% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, General Counsel Julie B. Rottenberg sold 2,027 shares of Visa stock in a transaction on Monday, August 18th. The shares were sold at an average price of $344.02, for a total transaction of $697,328.54. Following the completion of the transaction, the general counsel directly owned 11,925 shares of the company’s stock, valued at $4,102,438.50. The trade was a 14.53% decrease in their position. The disclosure for this sale can be found here. 0.13% of the stock is currently owned by insiders.

Visa Trading Up 0.4%

NYSE:V opened at $347.34 on Monday. The company has a market capitalization of $636.60 billion, a P/E ratio of 33.92, a PEG ratio of 2.05 and a beta of 0.90. The firm has a fifty day simple moving average of $344.79 and a 200-day simple moving average of $347.98. Visa Inc. has a 12 month low of $280.78 and a 12 month high of $375.51. The company has a current ratio of 1.12, a quick ratio of 1.12 and a debt-to-equity ratio of 0.52.

Visa (NYSE:V) last posted its earnings results on Tuesday, July 29th. The credit-card processor reported $2.98 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.85 by $0.13. The company had revenue of $10.17 billion during the quarter, compared to the consensus estimate of $9.82 billion. Visa had a net margin of 52.16% and a return on equity of 58.93%. The firm’s quarterly revenue was up 14.3% on a year-over-year basis. During the same period in the previous year, the firm posted $2.42 earnings per share. On average, equities research analysts anticipate that Visa Inc. will post 11.3 earnings per share for the current year.

Visa Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, September 2nd. Investors of record on Tuesday, August 12th were given a dividend of $0.59 per share. The ex-dividend date was Tuesday, August 12th. This represents a $2.36 dividend on an annualized basis and a yield of 0.7%. Visa’s payout ratio is currently 23.05%.

Analyst Ratings Changes

Several equities analysts recently issued reports on the stock. Oppenheimer lifted their price objective on shares of Visa from $390.00 to $391.00 and gave the company an “outperform” rating in a report on Wednesday, July 2nd. Erste Group Bank lowered shares of Visa from a “buy” rating to a “hold” rating in a report on Monday, September 22nd. Deutsche Bank Aktiengesellschaft assumed coverage on shares of Visa in a report on Thursday, July 17th. They set a “buy” rating and a $410.00 price objective on the stock. Wells Fargo & Company raised shares of Visa to a “strong-buy” rating in a report on Wednesday, October 22nd. Finally, Citigroup raised shares of Visa to a “strong-buy” rating in a report on Thursday. Four analysts have rated the stock with a Strong Buy rating, nineteen have given a Buy rating and five have issued a Hold rating to the company’s stock. According to MarketBeat.com, Visa presently has an average rating of “Moderate Buy” and a consensus target price of $392.75.

Visa Company 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.