Pinnacle Bancorp Inc. Reduces Stake in Visa Inc. (NYSE:V)

Pinnacle Bancorp Inc. lowered its position in Visa Inc. (NYSE:V - Free Report) by 9.9% during the first quarter, according to its most recent filing with the SEC. The firm owned 14,180 shares of the credit-card processor's stock after selling 1,554 shares during the period. Visa accounts for approximately 1.6% of Pinnacle Bancorp Inc.'s portfolio, making the stock its 11th largest position. Pinnacle Bancorp Inc.'s holdings in Visa were worth $4,969,000 at the end of the most recent reporting period.

Other institutional investors also recently modified their holdings of the company. Golden State Wealth Management LLC increased its stake in shares of Visa by 123.8% in the 1st quarter. Golden State Wealth Management LLC now owns 17,239 shares of the credit-card processor's stock valued at $6,047,000 after acquiring an additional 9,535 shares in the last quarter. Aurora Private Wealth Inc. grew its holdings in Visa by 11,691.3% in the first quarter. Aurora Private Wealth Inc. now owns 137,487 shares of the credit-card processor's stock worth $48,184,000 after purchasing an additional 136,321 shares during the period. Spire Wealth Management increased its stake in Visa by 7.4% in the first quarter. Spire Wealth Management now owns 62,291 shares of the credit-card processor's stock valued at $21,831,000 after purchasing an additional 4,292 shares in the last quarter. waypoint wealth counsel raised its holdings in shares of Visa by 30.7% during the first quarter. waypoint wealth counsel now owns 1,146 shares of the credit-card processor's stock valued at $402,000 after purchasing an additional 269 shares during the period. Finally, Berkshire Money Management Inc. boosted its position in shares of Visa by 7.6% during the 1st quarter. Berkshire Money Management Inc. now owns 1,481 shares of the credit-card processor's stock worth $519,000 after purchasing an additional 104 shares in the last quarter. 82.15% of the stock is owned by institutional investors.

Insider Buying and Selling 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 shares were sold at an average price of $345.58, for a total value of $889,868.50. Following the completion of the transaction, the general counsel now owns 11,925 shares in the company, valued at $4,121,041.50. This trade represents 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 available at the SEC website. Also, insider Paul D. Fabara sold 11,636 shares of the business's stock in a transaction that occurred 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 now directly owns 26,413 shares in the company, valued at approximately $9,904,875. This trade represents a 30.58% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 101,098 shares of company stock worth $36,738,526 over the last three months. 0.13% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

V has been the subject of a number of research analyst reports. Susquehanna reaffirmed a "positive" rating on shares of Visa in a research report on Friday, March 21st. Wall Street Zen upgraded Visa from a "hold" rating to a "buy" rating in a report on Monday, May 12th. Piper Sandler upped their target price on Visa from $383.00 to $384.00 and gave the stock an "overweight" rating in a research report on Wednesday, April 30th. Truist Financial assumed coverage on shares of Visa in a research report on Monday, June 2nd. They issued a "buy" rating and a $400.00 price target for the company. Finally, William Blair restated an "outperform" rating on shares of Visa in a report on Wednesday, April 30th. Five research analysts have rated the stock with a hold rating, twenty-three have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average price target of $372.80.

Visa Stock Performance

V stock traded up $3.10 during midday trading on Friday, hitting $349.13. The company's stock had a trading volume of 6,588,465 shares, compared to its average volume of 6,921,649. The stock has a market cap of $644.20 billion, a price-to-earnings ratio of 35.09, a PEG ratio of 2.32 and a beta of 0.94. The company has a quick ratio of 1.08, a current ratio of 1.08 and a debt-to-equity ratio of 0.45. The stock's 50-day moving average price is $352.91 and its 200 day moving average price is $339.57. 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 released 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. The company had revenue of $9.59 billion for the quarter, compared to analysts' expectations of $9.57 billion. Visa had a return on equity of 56.28% and a net margin of 52.86%. The business's revenue for the quarter was up 9.3% compared to the same quarter last year. During the same period in the previous year, the business posted $2.51 EPS. On average, equities analysts forecast that Visa Inc. will post 11.3 EPS for the current year.

Visa Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, June 2nd. Shareholders of record on Tuesday, May 13th were given a $0.59 dividend. This represents a $2.36 annualized dividend and a yield of 0.68%. The ex-dividend date was Tuesday, May 13th. Visa's dividend payout ratio is 23.72%.

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.