Visa Inc. (NYSE:V) Shares Sold by Pinnacle Wealth Management Group Inc.

Pinnacle Wealth Management Group Inc. reduced its holdings in shares of Visa Inc. (NYSE:V) by 7.5% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 4,165 shares of the credit-card processor’s stock after selling 337 shares during the period. Pinnacle Wealth Management Group Inc.’s holdings in Visa were worth $989,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds also recently added to or reduced their stakes in V. Steigerwald Gordon & Koch Inc. increased its holdings in shares of Visa by 1.2% in the first quarter. Steigerwald Gordon & Koch Inc. now owns 77,046 shares of the credit-card processor’s stock valued at $17,371,000 after purchasing an additional 951 shares during the period. Atomi Financial Group Inc. purchased a new stake in shares of Visa in the first quarter worth about $677,000. Point72 Europe London LLP boosted its stake in shares of Visa by 56.4% in the fourth quarter. Point72 Europe London LLP now owns 24,871 shares of the credit-card processor’s stock worth $5,167,000 after buying an additional 8,971 shares during the last quarter. Sumitomo Mitsui DS Asset Management Company Ltd boosted its stake in shares of Visa by 9.1% in the first quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 371,379 shares of the credit-card processor’s stock worth $83,731,000 after buying an additional 30,849 shares during the last quarter. Finally, BerganKDV Wealth Management LLC boosted its stake in shares of Visa by 7.9% in the first quarter. BerganKDV Wealth Management LLC now owns 24,257 shares of the credit-card processor’s stock worth $5,469,000 after buying an additional 1,773 shares during the last quarter. 81.35% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other news, insider Rajat Taneja sold 15,800 shares of Visa stock in a transaction on Wednesday, September 13th. The stock was sold at an average price of $250.01, for a total value of $3,950,158.00. Following the completion of the sale, the insider now directly owns 232,112 shares of the company’s stock, valued at $58,030,321.12. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. In other news, CEO Ryan Mcinerney sold 24,025 shares of Visa stock in a transaction on Wednesday, July 5th. The stock was sold at an average price of $240.00, for a total value of $5,766,000.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Rajat Taneja sold 15,800 shares of Visa stock in a transaction on Wednesday, September 13th. The shares were sold at an average price of $250.01, for a total value of $3,950,158.00. Following the completion of the sale, the insider now directly owns 232,112 shares of the company’s stock, valued at $58,030,321.12. The disclosure for this sale can be found here. Insiders sold a total of 81,550 shares of company stock valued at $19,795,806 over the last quarter. 0.22% of the stock is owned by insiders.

Visa Price Performance

NYSE:V opened at $241.07 on Friday. The stock has a 50 day moving average price of $241.67 and a 200 day moving average price of $232.27. The company has a debt-to-equity ratio of 0.55, a quick ratio of 1.49 and a current ratio of 1.49. The stock has a market cap of $448.83 billion, a PE ratio of 30.59, a P/E/G ratio of 1.81 and a beta of 0.95. Visa Inc. has a one year low of $174.60 and a one year high of $250.06.

Visa (NYSE:V) last posted its earnings results on Tuesday, July 25th. The credit-card processor reported $2.16 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.11 by $0.05. The company had revenue of $8.12 billion during the quarter, compared to analysts’ expectations of $8.06 billion. Visa had a return on equity of 49.42% and a net margin of 51.94%. The firm’s quarterly revenue was up 11.7% compared to the same quarter last year. During the same quarter last year, the firm earned $1.98 earnings per share. Equities research analysts expect that Visa Inc. will post 8.65 EPS for the current fiscal year.

Visa Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, September 1st. Shareholders of record on Friday, August 11th were paid a dividend of $0.45 per share. The ex-dividend date was Thursday, August 10th. This represents a $1.80 annualized dividend and a yield of 0.75%. Visa’s dividend payout ratio (DPR) is 22.84%.

Analyst Ratings Changes

A number of analysts have recently commented on V shares. Wedbush restated an “outperform” rating and issued a $270.00 target price on shares of Visa in a research note on Thursday, August 31st. Jefferies Financial Group increased their price target on Visa from $270.00 to $280.00 and gave the stock a “buy” rating in a research report on Wednesday, July 19th. Raymond James increased their price target on Visa from $282.00 to $284.00 and gave the stock an “outperform” rating in a research report on Wednesday, July 26th. JPMorgan Chase & Co. increased their price target on Visa from $265.00 to $296.00 and gave the stock an “overweight” rating in a research report on Tuesday, August 22nd. Finally, Credit Suisse Group increased their price target on Visa from $265.00 to $275.00 in a research report on Wednesday, July 26th. One research analyst has rated the stock with a sell rating, one has assigned a hold rating and sixteen have given a buy rating to the company. Based on data from MarketBeat.com, Visa presently has an average rating of “Moderate Buy” and a consensus target price of $273.77.

Visa Company Profile

Visa Inc operates as a payments technology company worldwide. 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, click to pay; Visa Direct, a real-time payments network; Visa B2B Connect, a multilateral B2B cross-border payments network; Visa Treasury as a Service, a cross-border consumer payments business; 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.