Pinnacle Investment Management Ltd Buys Shares of 2,000 Visa Inc. (NYSE:V)

Pinnacle Investment Management Ltd bought a new stake in shares of Visa Inc. (NYSE:V - Free Report) during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor bought 2,000 shares of the credit-card processor's stock, valued at approximately $632,000. Visa comprises about 0.5% of Pinnacle Investment Management Ltd's holdings, making the stock its 17th biggest position.

Several other hedge funds and other institutional investors have also recently modified their holdings of the business. Hirtle Callaghan & Co LLC increased its position in Visa by 1.3% during the fourth quarter. Hirtle Callaghan & Co LLC now owns 2,291 shares of the credit-card processor's stock worth $724,000 after purchasing an additional 29 shares during the last quarter. FWL Investment Management LLC boosted its holdings in Visa by 0.5% in the fourth quarter. FWL Investment Management LLC now owns 6,344 shares of the credit-card processor's stock valued at $2,005,000 after acquiring an additional 29 shares during the last quarter. Elevation Wealth Partners LLC grew its position in Visa by 3.3% during the fourth quarter. Elevation Wealth Partners LLC now owns 939 shares of the credit-card processor's stock valued at $297,000 after acquiring an additional 30 shares during the period. Warther Private Wealth LLC increased its stake in Visa by 1.0% during the fourth quarter. Warther Private Wealth LLC now owns 2,935 shares of the credit-card processor's stock worth $928,000 after acquiring an additional 30 shares during the last quarter. Finally, Valmark Advisers Inc. raised its holdings in shares of Visa by 0.4% in the 4th quarter. Valmark Advisers Inc. now owns 7,251 shares of the credit-card processor's stock worth $2,292,000 after purchasing an additional 30 shares during the period. 82.15% of the stock is currently owned by hedge funds and other institutional investors.

Visa Stock Performance

Shares of NYSE V opened at $366.96 on Wednesday. Visa Inc. has a 1 year low of $252.70 and a 1 year high of $369.15. The firm has a market cap of $677.10 billion, a P/E ratio of 36.99, a PEG ratio of 2.33 and a beta of 0.96. The stock has a fifty day moving average price of $340.06 and a two-hundred day moving average price of $330.68. The company has a debt-to-equity ratio of 0.45, a quick ratio of 1.12 and a current ratio of 1.12.

Visa (NYSE:V - Get Free Report) last released its earnings results on Tuesday, April 29th. The credit-card processor reported $2.76 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $2.68 by $0.08. Visa had a return on equity of 54.79% and a net margin of 54.27%. The firm had revenue of $9.59 billion for the quarter, compared to analyst estimates of $9.57 billion. During the same period in the previous year, the company earned $2.51 earnings per share. Visa's revenue was up 9.3% compared to the same quarter last year. Research analysts forecast that Visa Inc. will post 11.3 EPS for the current fiscal year.

Visa Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, June 2nd. Investors of record on Tuesday, May 13th will be issued a dividend of $0.59 per share. This represents a $2.36 dividend on an annualized basis and a yield of 0.64%. The ex-dividend date is Tuesday, May 13th. Visa's payout ratio is 23.72%.

Insiders Place Their Bets

In other news, CEO Ryan Mcinerney sold 8,620 shares of the business's stock in a transaction that occurred on Monday, March 3rd. The shares were sold at an average price of $363.00, for a total transaction of $3,129,060.00. Following the sale, the chief executive officer now owns 537 shares in the company, valued at $194,931. The trade was a 94.14% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Paul D. Fabara sold 14,813 shares of the firm's stock in a transaction that occurred on Thursday, May 8th. The stock was sold at an average price of $355.04, for a total transaction of $5,259,207.52. Following the completion of the transaction, the insider now directly owns 26,413 shares of the company's stock, valued at $9,377,671.52. This represents a 35.93% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 121,948 shares of company stock worth $41,548,282. 0.13% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

A number of research firms recently issued reports on V. StockNews.com raised shares of Visa from a "hold" rating to a "buy" rating in a research report on Monday, May 12th. Wells Fargo & Company increased their price objective on shares of Visa from $360.00 to $395.00 and gave the stock an "overweight" rating in a research report on Friday, January 31st. Keefe, Bruyette & Woods restated a "hold" rating on shares of Visa in a report on Thursday, February 13th. Bank of America increased their price target on Visa from $331.00 to $363.00 and gave the company a "neutral" rating in a report on Friday, January 31st. Finally, Evercore ISI initiated coverage on Visa in a research note on Wednesday, April 9th. They set an "in-line" rating and a $330.00 price objective on the stock. Six investment analysts have rated the stock with a hold rating, twenty-one have assigned a buy rating and one has given a strong buy rating to the company's stock. According to data from MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus target price of $362.38.

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.

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