Pinnacle Financial Partners Inc Acquires 1,372 Shares of Visa Inc. (NYSE:V)

Pinnacle Financial Partners Inc increased its position in shares of Visa Inc. (NYSE:V) by 0.3% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 428,607 shares of the credit-card processor’s stock after purchasing an additional 1,372 shares during the period. Visa accounts for about 2.4% of Pinnacle Financial Partners Inc’s investment portfolio, making the stock its 9th largest holding. Pinnacle Financial Partners Inc’s holdings in Visa were worth $117,846,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently modified their holdings of the company. POM Investment Strategies LLC raised its position in shares of Visa by 970.0% during the second quarter. POM Investment Strategies LLC now owns 107 shares of the credit-card processor’s stock worth $28,000 after purchasing an additional 97 shares during the period. Reston Wealth Management LLC acquired a new position in Visa during the third quarter valued at $31,000. TruNorth Capital Management LLC lifted its stake in Visa by 211.9% in the 2nd quarter. TruNorth Capital Management LLC now owns 131 shares of the credit-card processor’s stock worth $34,000 after acquiring an additional 89 shares in the last quarter. Abich Financial Wealth Management LLC boosted its holdings in shares of Visa by 52.9% during the first quarter. Abich Financial Wealth Management LLC now owns 133 shares of the credit-card processor’s stock worth $37,000 after purchasing an additional 46 shares during the period. Finally, CarsonAllaria Wealth Management Ltd. acquired a new position in Visa in the 2nd quarter valued at approximately $35,000. Institutional investors own 82.15% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts have recently issued reports on V shares. TD Cowen lifted their price target on Visa from $318.00 to $325.00 and gave the company a “buy” rating in a report on Wednesday, October 30th. StockNews.com raised Visa from a “hold” rating to a “buy” rating in a research report on Friday, August 9th. BNP Paribas upgraded Visa from a “neutral” rating to an “outperform” rating and set a $325.00 price target for the company in a report on Tuesday, September 3rd. Deutsche Bank Aktiengesellschaft increased their price target on shares of Visa from $300.00 to $340.00 and gave the company a “buy” rating in a report on Wednesday, October 30th. Finally, Susquehanna increased their target price on shares of Visa from $326.00 to $339.00 and gave the company a “positive” rating in a research note on Wednesday, October 30th. Four research analysts have rated the stock with a hold rating, twenty-four have given a buy rating and two have given a strong buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $321.74.

Visa Stock Performance

NYSE:V opened at $309.82 on Wednesday. The stock has a market capitalization of $564.59 billion, a P/E ratio of 31.84, a price-to-earnings-growth ratio of 2.08 and a beta of 0.95. The company has a current ratio of 1.28, a quick ratio of 1.37 and a debt-to-equity ratio of 0.55. Visa Inc. has a 1 year low of $244.11 and a 1 year high of $312.44. The firm has a 50 day moving average of $285.26 and a 200-day moving average of $275.17.

Visa (NYSE:V) last posted its quarterly earnings data on Tuesday, October 29th. The credit-card processor reported $2.71 EPS for the quarter, topping analysts’ consensus estimates of $2.58 by $0.13. Visa had a return on equity of 53.16% and a net margin of 54.96%. The company had revenue of $9.62 billion for the quarter, compared to analyst estimates of $9.49 billion. During the same quarter in the previous year, the firm earned $2.33 earnings per share. The business’s revenue was up 11.7% on a year-over-year basis. As a group, sell-side analysts anticipate that Visa Inc. will post 11.19 EPS for the current fiscal year.

Visa Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, December 2nd. Investors of record on Tuesday, November 12th will be issued a $0.59 dividend. The ex-dividend date is Tuesday, November 12th. This represents a $2.36 dividend on an annualized basis and a dividend yield of 0.76%. This is a positive change from Visa’s previous quarterly dividend of $0.52. Visa’s dividend payout ratio (DPR) is currently 21.38%.

Insider Buying and Selling

In other news, CEO Ryan Mcinerney sold 8,620 shares of Visa stock in a transaction on Tuesday, September 3rd. The stock was sold at an average price of $276.37, for a total value of $2,382,309.40. Following the completion of the sale, the chief executive officer now directly owns 538 shares of the company’s stock, valued at approximately $148,687.06. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 0.19% of the stock is currently owned by corporate insiders.

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.