Visa Inc. (NYSE:V) Shares Sold by Pinnacle Holdings LLC

Pinnacle Holdings LLC decreased its holdings in shares of Visa Inc. (NYSE:V) by 7.5% during the 4th quarter, Holdings Channel.com reports. The firm owned 8,652 shares of the credit-card processor’s stock after selling 699 shares during the period. Visa accounts for about 1.0% of Pinnacle Holdings LLC’s investment portfolio, making the stock its 27th largest holding. Pinnacle Holdings LLC’s holdings in Visa were worth $2,734,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Decker Retirement Planning Inc. acquired a new stake in shares of Visa during the fourth quarter valued at about $26,000. Bradley & Co. Private Wealth Management LLC bought a new stake in shares of Visa in the 4th quarter worth $27,000. POM Investment Strategies LLC boosted its stake in Visa by 48.5% during the fourth quarter. POM Investment Strategies LLC now owns 98 shares of the credit-card processor’s stock valued at $31,000 after buying an additional 32 shares in the last quarter. Modus Advisors LLC acquired a new position in Visa during the fourth quarter worth about $32,000. Finally, Compass Planning Associates Inc bought a new stake in Visa in the fourth quarter worth about $32,000. Hedge funds and other institutional investors own 82.15% of the company’s stock.

Visa Price Performance

Shares of V stock opened at $307.92 on Wednesday. The business’s fifty day moving average is $343.47 and its 200 day moving average is $317.55. The stock has a market cap of $572.04 billion, a price-to-earnings ratio of 31.04, a PEG ratio of 2.33 and a beta of 0.94. The company has a quick ratio of 1.12, a current ratio of 1.12 and a debt-to-equity ratio of 0.45. Visa Inc. has a twelve month low of $252.70 and a twelve month high of $366.54.

Visa (NYSE:V) last released its earnings results on Thursday, January 30th. The credit-card processor reported $2.75 EPS for the quarter, topping analysts’ consensus estimates of $2.66 by $0.09. Visa had a return on equity of 54.79% and a net margin of 54.27%. Research analysts expect that Visa Inc. will post 11.3 EPS for the current fiscal year.

Visa Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, March 3rd. Stockholders of record on Tuesday, February 11th were paid a $0.59 dividend. The ex-dividend date was Tuesday, February 11th. This represents a $2.36 dividend on an annualized basis and a dividend yield of 0.77%. Visa’s dividend payout ratio is presently 23.79%.

Analyst Ratings Changes

V has been the subject of a number of recent analyst reports. Barclays raised their price objective on shares of Visa from $361.00 to $396.00 and gave the stock an “overweight” rating in a research note on Monday, February 3rd. Morgan Stanley increased their price target on shares of Visa from $326.00 to $371.00 and gave the stock an “overweight” rating in a research note on Wednesday, December 18th. Piper Sandler reissued an “overweight” rating and issued a $383.00 price objective (up from $368.00) on shares of Visa in a research note on Friday, January 31st. StockNews.com lowered shares of Visa from a “buy” rating to a “hold” rating in a research report on Monday. Finally, JPMorgan Chase & Co. raised their price objective on shares of Visa from $340.00 to $375.00 and gave the stock an “overweight” rating in a research note on Friday, January 31st. Six investment analysts have rated the stock with a hold rating, twenty-two have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $355.84.

Insiders Place Their Bets

In other Visa news, CEO Ryan Mcinerney sold 8,620 shares of the firm’s stock in a transaction dated Tuesday, April 1st. The stock was sold at an average price of $350.44, for a total transaction of $3,020,792.80. Following the sale, the chief executive officer now directly owns 537 shares of the company’s stock, valued at $188,186.28. This trade represents a 94.14 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Tullier Kelly Mahon sold 33,741 shares of Visa stock in a transaction that occurred on Friday, February 7th. The shares were sold at an average price of $349.77, for a total value of $11,801,589.57. Following the sale, the insider now directly owns 36,566 shares in the company, valued at $12,789,689.82. This trade represents a 47.99 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 143,205 shares of company stock valued at $48,842,490. Company insiders own 0.13% of the company’s stock.

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.