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

Pinnacle Holdings LLC trimmed its holdings in Visa Inc. (NYSE:V) by 5.1% in the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 8,214 shares of the credit-card processor’s stock after selling 438 shares during the quarter. Visa comprises approximately 1.1% of Pinnacle Holdings LLC’s portfolio, making the stock its 24th biggest position. Pinnacle Holdings LLC’s holdings in Visa were worth $2,879,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. FWL Investment Management LLC lifted its stake in Visa by 0.5% in the fourth quarter. FWL Investment Management LLC now owns 6,344 shares of the credit-card processor’s stock valued at $2,005,000 after buying an additional 29 shares during the last quarter. Yeomans Consulting Group Inc. lifted its stake in Visa by 2.9% in the first quarter. Yeomans Consulting Group Inc. now owns 1,027 shares of the credit-card processor’s stock valued at $360,000 after buying an additional 29 shares during the last quarter. Semus Wealth Partners LLC lifted its stake in Visa by 0.8% in the first quarter. Semus Wealth Partners LLC now owns 3,449 shares of the credit-card processor’s stock valued at $1,209,000 after buying an additional 29 shares during the last quarter. Capstone Financial Advisors Inc. lifted its stake in Visa by 3.6% in the fourth quarter. Capstone Financial Advisors Inc. now owns 872 shares of the credit-card processor’s stock valued at $276,000 after buying an additional 30 shares during the last quarter. Finally, Headinvest LLC lifted its stake in Visa by 0.8% in the fourth quarter. Headinvest LLC now owns 4,003 shares of the credit-card processor’s stock valued at $1,265,000 after buying an additional 30 shares during the last quarter. 82.15% of the stock is owned by institutional investors and hedge funds.

Visa Trading Down 0.3%

NYSE:V opened at $344.44 on Friday. The stock has a fifty day moving average price of $350.17 and a two-hundred day moving average price of $347.34. The stock has a market capitalization of $631.29 billion, a price-to-earnings ratio of 33.64, a PEG ratio of 2.30 and a beta of 0.94. The company has a debt-to-equity ratio of 0.52, a quick ratio of 1.12 and a current ratio of 1.12. Visa Inc. has a 1 year low of $265.23 and a 1 year high of $375.51.

Visa (NYSE:V) last posted its earnings results on Tuesday, July 29th. The credit-card processor reported $2.98 earnings per share for the quarter, beating the consensus estimate of $2.85 by $0.13. The company had revenue of $10.17 billion for the quarter, compared to analyst estimates of $9.82 billion. Visa had a return on equity of 58.93% and a net margin of 52.16%. Visa’s revenue was up 14.3% compared to the same quarter last year. During the same quarter in the prior year, the company earned $2.42 earnings per share. As a group, sell-side analysts anticipate that Visa Inc. will post 11.3 earnings per share for the current fiscal year.

Visa Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, September 2nd. Shareholders of record on Tuesday, August 12th will be issued a $0.59 dividend. The ex-dividend date of this dividend is Tuesday, August 12th. This represents a $2.36 annualized dividend and a yield of 0.7%. Visa’s dividend payout ratio is 23.05%.

Analyst Ratings Changes

A number of equities research analysts have weighed in on the company. Oppenheimer boosted their price objective on Visa from $390.00 to $391.00 and gave the company an “outperform” rating in a research note on Wednesday, July 2nd. Barclays restated an “overweight” rating and set a $408.00 price target (up previously from $396.00) on shares of Visa in a research note on Thursday, July 31st. Macquarie upped their price target on Visa from $380.00 to $425.00 and gave the stock an “outperform” rating in a research note on Thursday, July 31st. Jefferies Financial Group upped their price target on Visa from $400.00 to $410.00 and gave the stock a “buy” rating in a research note on Tuesday, May 27th. Finally, William Blair restated an “outperform” rating on shares of Visa in a research note on Wednesday, April 30th. Five equities research analysts have rated the stock with a hold rating, twenty-three have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $380.84.

Insider Buying and Selling at Visa

In other Visa news, insider Paul D. Fabara sold 11,636 shares of the company’s stock in a transaction on Wednesday, June 11th. The stock was sold at an average price of $375.00, for a total value of $4,363,500.00. Following the sale, the insider owned 26,413 shares of the company’s stock, valued at approximately $9,904,875. This represents a 30.58% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Ryan Mcinerney sold 8,630 shares of the company’s stock in a transaction on Tuesday, July 1st. The shares were sold at an average price of $353.82, for a total value of $3,053,466.60. Following the completion of the sale, the chief executive officer directly owned 537 shares in the company, valued at $190,001.34. This trade represents a 94.14% decrease in their position. The disclosure for this sale can be found here. Insiders sold 75,100 shares of company stock worth $27,643,224 in the last three months. 0.13% of the stock is owned by corporate 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.