Pinnacle Wealth Planning Services Inc. Trims Stock Position in Visa Inc. $V

Pinnacle Wealth Planning Services Inc. cut its holdings in Visa Inc. (NYSE:V) by 2.0% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 11,827 shares of the credit-card processor’s stock after selling 244 shares during the quarter. Pinnacle Wealth Planning Services Inc.’s holdings in Visa were worth $4,199,000 at the end of the most recent quarter.

Other institutional investors have also recently modified their holdings of the company. Brighton Jones LLC raised its holdings in shares of Visa by 50.1% in the fourth quarter. Brighton Jones LLC now owns 20,635 shares of the credit-card processor’s stock worth $6,522,000 after acquiring an additional 6,883 shares during the last quarter. Revolve Wealth Partners LLC boosted its stake in shares of Visa by 68.9% during the fourth quarter. Revolve Wealth Partners LLC now owns 11,811 shares of the credit-card processor’s stock valued at $3,733,000 after acquiring an additional 4,817 shares during the last quarter. Kingsman Wealth Management Inc. purchased a new stake in Visa during the 1st quarter worth about $1,935,000. Capital & Planning LLC raised its stake in Visa by 25.1% in the 1st quarter. Capital & Planning LLC now owns 1,187 shares of the credit-card processor’s stock valued at $416,000 after purchasing an additional 238 shares during the last quarter. Finally, Morse Asset Management Inc lifted its holdings in Visa by 17.3% in the 1st quarter. Morse Asset Management Inc now owns 326 shares of the credit-card processor’s stock valued at $114,000 after purchasing an additional 48 shares in the last quarter. 82.15% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at Visa

In other news, Director Lloyd Carney sold 900 shares of the firm’s stock in a transaction dated Tuesday, November 4th. The stock was sold at an average price of $336.48, for a total value of $302,832.00. Following the transaction, the director directly owned 2,468 shares in the company, valued at $830,432.64. This trade represents a 26.72% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO Ryan Mcinerney sold 10,485 shares of the business’s stock in a transaction dated Monday, November 3rd. The stock was sold at an average price of $341.00, for a total value of $3,575,385.00. Following the sale, the chief executive officer owned 537 shares of the company’s stock, valued at $183,117. The trade was a 95.13% decrease in their position. The SEC filing for this sale provides additional information. Over the last 90 days, insiders sold 21,870 shares of company stock worth $7,467,233. Company insiders own 0.13% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages have recently commented on V. Citigroup upgraded shares of Visa to a “strong-buy” rating in a report on Thursday, October 23rd. Raymond James Financial restated an “outperform” rating and set a $408.00 target price (up previously from $398.00) on shares of Visa in a research report on Wednesday, October 29th. UBS Group set a $425.00 price target on Visa and gave the company a “buy” rating in a report on Wednesday, October 29th. Morgan Stanley set a $398.00 price target on Visa and gave the stock an “overweight” rating in a research note on Wednesday, October 29th. Finally, Robert W. Baird set a $425.00 price objective on Visa in a research report on Wednesday, October 29th. Four equities research analysts have rated the stock with a Strong Buy rating, seventeen have given a Buy rating and five have given a Hold rating to the company. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $400.00.

Visa Stock Performance

NYSE:V opened at $325.64 on Tuesday. The company has a market cap of $593.24 billion, a P/E ratio of 31.89, a P/E/G ratio of 2.00 and a beta of 0.87. The firm’s 50 day moving average is $341.83 and its two-hundred day moving average is $348.59. Visa Inc. has a fifty-two week low of $299.00 and a fifty-two week high of $375.51. The company has a quick ratio of 1.08, a current ratio of 1.08 and a debt-to-equity ratio of 0.53.

Visa (NYSE:V) last announced its quarterly earnings data on Tuesday, October 28th. The credit-card processor reported $2.98 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.97 by $0.01. The company had revenue of $10.72 billion during the quarter, compared to analysts’ expectations of $10.60 billion. Visa had a net margin of 50.15% and a return on equity of 60.31%. The business’s quarterly revenue was up 11.5% compared to the same quarter last year. During the same period in the previous year, the company earned $2.71 EPS. Analysts expect that Visa Inc. will post 11.3 EPS for the current year.

Visa Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, December 1st. Shareholders of record on Wednesday, November 12th will be paid a dividend of $0.67 per share. This is a boost from Visa’s previous quarterly dividend of $0.59. This represents a $2.68 annualized dividend and a yield of 0.8%. The ex-dividend date is Wednesday, November 12th. Visa’s payout ratio is currently 26.25%.

About Visa

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.