Pinnacle Financial Partners Inc Has $144.16 Million Position in Visa Inc. (NYSE:V)

Pinnacle Financial Partners Inc lowered its stake in Visa Inc. (NYSE:V - Free Report) by 0.2% during the first quarter, according to its most recent 13F filing with the SEC. The firm owned 430,190 shares of the credit-card processor's stock after selling 786 shares during the quarter. Visa accounts for about 2.9% of Pinnacle Financial Partners Inc's portfolio, making the stock its 7th biggest holding. Pinnacle Financial Partners Inc's holdings in Visa were worth $144,160,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the business. Instrumental Wealth LLC raised its holdings in Visa by 5.1% in the 1st quarter. Instrumental Wealth LLC now owns 806 shares of the credit-card processor's stock valued at $270,000 after buying an additional 39 shares during the period. Krane Funds Advisors LLC grew its position in shares of Visa by 101.9% in the 1st quarter. Krane Funds Advisors LLC now owns 1,740 shares of the credit-card processor's stock valued at $610,000 after buying an additional 878 shares during the last quarter. Moody Lynn & Lieberson LLC boosted its stake in Visa by 0.5% in the first quarter. Moody Lynn & Lieberson LLC now owns 54,562 shares of the credit-card processor's stock valued at $19,122,000 after acquiring an additional 270 shares in the last quarter. Aaron Wealth Advisors LLC boosted its stake in Visa by 2.5% in the first quarter. Aaron Wealth Advisors LLC now owns 16,400 shares of the credit-card processor's stock valued at $5,748,000 after acquiring an additional 399 shares in the last quarter. Finally, First Bank & Trust boosted its stake in shares of Visa by 2.2% during the first quarter. First Bank & Trust now owns 4,049 shares of the credit-card processor's stock worth $1,419,000 after buying an additional 88 shares during the period. Institutional investors and hedge funds own 82.15% of the company's stock.

Wall Street Analysts Forecast Growth

A number of research analysts have issued reports on V shares. Citigroup began coverage on shares of Visa in a report on Monday, June 2nd. They issued a "buy" rating for the company. William Blair reiterated an "outperform" rating on shares of Visa in a report on Wednesday, April 30th. The Goldman Sachs Group assumed coverage on shares of Visa in a research note on Monday, June 2nd. They set a "neutral" rating on the stock. Oppenheimer boosted their target price on shares of Visa from $390.00 to $391.00 and gave the stock an "outperform" rating in a research report on Wednesday, July 2nd. Finally, BMO Capital Markets boosted their price objective on shares of Visa from $370.00 to $380.00 and gave the company an "outperform" rating in a research report on Wednesday, April 30th. Five investment analysts have rated the stock with a hold rating, twenty-three have given a buy rating and one has issued a strong buy rating to the company's stock. According to MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $372.84.

Visa Price Performance

Shares of NYSE V traded down $2.21 during midday trading on Tuesday, reaching $354.43. The company's stock had a trading volume of 6,964,583 shares, compared to its average volume of 6,837,239. The company has a current ratio of 1.08, a quick ratio of 1.08 and a debt-to-equity ratio of 0.45. The company has a 50 day moving average price of $356.43 and a 200 day moving average price of $342.00. Visa Inc. has a one year low of $252.70 and a one year high of $375.51. The company has a market cap of $653.98 billion, a price-to-earnings ratio of 35.62, a price-to-earnings-growth ratio of 2.42 and a beta of 0.92.

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

Visa Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, June 2nd. Stockholders of record on Tuesday, May 13th were paid a dividend of $0.59 per share. The ex-dividend date was Tuesday, May 13th. This represents a $2.36 annualized dividend and a dividend yield of 0.67%. Visa's dividend payout ratio (DPR) is 23.72%.

Insider Buying and Selling

In related news, insider Paul D. Fabara sold 11,636 shares of the company's stock in a transaction on Wednesday, June 11th. The shares were sold at an average price of $375.00, for a total transaction of $4,363,500.00. Following the completion of the sale, the insider directly owned 26,413 shares of the company's stock, valued at approximately $9,904,875. This represents a 30.58% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, General Counsel Julie B. Rottenberg sold 2,575 shares of the stock in a transaction on Thursday, May 1st. The shares were sold at an average price of $345.58, for a total transaction of $889,868.50. Following the completion of the sale, the general counsel directly owned 11,925 shares of the company's stock, valued at approximately $4,121,041.50. This trade represents a 17.76% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 101,108 shares of company stock valued at $36,771,200. Company insiders own 0.13% of the company's stock.

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.