Visa Inc. (NYSE:V) Stake Decreased by Pinnacle Financial Partners Inc

Pinnacle Financial Partners Inc decreased its holdings in shares of Visa Inc. (NYSE:V - Free Report) by 0.2% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 430,190 shares of the credit-card processor's stock after selling 786 shares during the quarter. Visa comprises 2.9% of Pinnacle Financial Partners Inc's holdings, making the stock its 7th largest holding. Pinnacle Financial Partners Inc's holdings in Visa were worth $144,160,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in V. Norges Bank purchased a new position in shares of Visa during the fourth quarter worth $5,171,271,000. GAMMA Investing LLC boosted its position in shares of Visa by 38,416.3% during the first quarter. GAMMA Investing LLC now owns 14,761,375 shares of the credit-card processor's stock worth $5,173,271,000 after buying an additional 14,723,050 shares during the period. Vanguard Group Inc. boosted its position in shares of Visa by 4.6% during the fourth quarter. Vanguard Group Inc. now owns 159,405,343 shares of the credit-card processor's stock worth $50,378,465,000 after buying an additional 7,079,706 shares during the period. Raymond James Financial Inc. purchased a new position in shares of Visa during the fourth quarter worth $1,955,403,000. Finally, Northern Trust Corp boosted its position in shares of Visa by 18.0% during the fourth quarter. Northern Trust Corp now owns 18,260,714 shares of the credit-card processor's stock worth $5,771,116,000 after buying an additional 2,785,707 shares during the period. Institutional investors and hedge funds own 82.15% of the company's stock.

Analysts Set New Price Targets

Several research firms have recently commented on V. The Goldman Sachs Group began coverage on Visa in a research report on Monday, June 2nd. They set a "neutral" rating for the company. Mizuho upgraded Visa from a "neutral" rating to an "outperform" rating and raised their price target for the stock from $359.00 to $425.00 in a research report on Thursday, June 5th. Wall Street Zen upgraded Visa from a "hold" rating to a "buy" rating in a report on Monday, May 12th. Macquarie decreased their target price on Visa from $400.00 to $380.00 and set an "outperform" rating for the company in a report on Wednesday, April 30th. Finally, Susquehanna reiterated a "positive" rating on shares of Visa in a report on Friday, March 21st. Five investment analysts have rated the stock with a hold rating, twenty-three have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, Visa currently has an average rating of "Moderate Buy" and an average price target of $372.84.

Insider Transactions at Visa

In other news, General Counsel Julie B. Rottenberg sold 2,575 shares of Visa stock in a transaction dated Thursday, May 1st. The stock was sold at an average price of $345.58, for a total transaction of $889,868.50. Following the sale, the general counsel owned 11,925 shares in the company, valued at approximately $4,121,041.50. The trade was a 17.76% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Paul D. Fabara sold 11,636 shares of Visa stock in a transaction dated 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 in the company, valued at $9,904,875. This trade represents a 30.58% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 101,108 shares of company stock worth $36,771,200. Corporate insiders own 0.13% of the company's stock.

Visa Stock Up 1.3%

NYSE V traded up $4.48 during trading on Friday, reaching $358.70. 3,702,810 shares of the company's stock were exchanged, compared to its average volume of 6,850,467. The stock has a market cap of $661.86 billion, a P/E ratio of 36.05, a price-to-earnings-growth ratio of 2.43 and a beta of 0.92. The company has a debt-to-equity ratio of 0.45, a quick ratio of 1.08 and a current ratio of 1.08. The company has a 50 day moving average price of $355.79 and a two-hundred day moving average price of $341.46. Visa Inc. has a 1 year low of $252.70 and a 1 year high of $375.51.

Visa (NYSE:V - Get Free Report) last posted its earnings results on Tuesday, April 29th. The credit-card processor reported $2.76 EPS for the quarter, topping analysts' consensus estimates of $2.68 by $0.08. Visa had a return on equity of 56.28% and a net margin of 52.86%. The business had revenue of $9.59 billion for the quarter, compared to analysts' expectations of $9.57 billion. During the same quarter in the previous year, the firm earned $2.51 earnings per share. The business's revenue was up 9.3% compared to the same quarter last year. On average, equities research analysts anticipate that Visa Inc. will post 11.3 EPS for the current fiscal year.

Visa Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, June 2nd. Stockholders of record on Tuesday, May 13th were given a dividend of $0.59 per share. This represents a $2.36 dividend on an annualized basis and a dividend yield of 0.66%. The ex-dividend date was Tuesday, May 13th. Visa's dividend payout ratio (DPR) is currently 23.72%.

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.