Pinnacle Financial Partners Inc. Acquires 5,298 Shares of Visa Inc (V)

Pinnacle Financial Partners Inc. lifted its holdings in shares of Visa Inc (NYSE:V) by 7.7% in the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 73,931 shares of the credit-card processor’s stock after buying an additional 5,298 shares during the quarter. Visa makes up approximately 0.9% of Pinnacle Financial Partners Inc.’s investment portfolio, making the stock its 25th largest position. Pinnacle Financial Partners Inc.’s holdings in Visa were worth $9,755,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also made changes to their positions in V. Regent Investment Management LLC lifted its position in shares of Visa by 0.4% during the 4th quarter. Regent Investment Management LLC now owns 17,175 shares of the credit-card processor’s stock valued at $2,266,000 after acquiring an additional 75 shares during the period. Indiana Trust & Investment Management CO lifted its position in shares of Visa by 1.1% during the 4th quarter. Indiana Trust & Investment Management CO now owns 7,352 shares of the credit-card processor’s stock valued at $970,000 after acquiring an additional 83 shares during the period. Rehmann Capital Advisory Group lifted its position in shares of Visa by 0.8% during the 3rd quarter. Rehmann Capital Advisory Group now owns 10,088 shares of the credit-card processor’s stock valued at $1,514,000 after acquiring an additional 85 shares during the period. SPC Financial Inc. lifted its position in shares of Visa by 1.1% during the 4th quarter. SPC Financial Inc. now owns 7,972 shares of the credit-card processor’s stock valued at $1,052,000 after acquiring an additional 85 shares during the period. Finally, Buckley Wealth Management LLC lifted its position in shares of Visa by 3.3% during the 4th quarter. Buckley Wealth Management LLC now owns 2,852 shares of the credit-card processor’s stock valued at $376,000 after acquiring an additional 90 shares during the period. Institutional investors and hedge funds own 80.97% of the company’s stock.

In other Visa news, Vice Chairman Ellen Richey sold 81,005 shares of Visa stock in a transaction that occurred on Thursday, February 7th. The shares were sold at an average price of $139.99, for a total value of $11,339,889.95. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP William M. Sheedy sold 75,676 shares of Visa stock in a transaction that occurred on Tuesday, April 30th. The stock was sold at an average price of $165.24, for a total transaction of $12,504,702.24. Following the completion of the sale, the executive vice president now directly owns 300,114 shares of the company’s stock, valued at $49,590,837.36. The disclosure for this sale can be found here. Insiders sold a total of 269,207 shares of company stock valued at $41,302,652 over the last ninety days. 0.17% of the stock is owned by corporate insiders.

A number of equities research analysts have recently issued reports on the stock. UBS Group lifted their price target on shares of Visa from $146.00 to $183.00 and gave the company a “neutral” rating in a research report on Thursday. Goldman Sachs Group reiterated a “buy” rating and set a $188.00 price target on shares of Visa in a research report on Thursday. Cantor Fitzgerald reiterated a “buy” rating and set a $181.00 price target on shares of Visa in a research report on Sunday, April 28th. Zacks Investment Research upgraded shares of Visa from a “hold” rating to a “buy” rating and set a $181.00 price target for the company in a research report on Saturday, April 27th. Finally, BMO Capital Markets raised their price objective on shares of Visa to $214.00 and gave the stock an “outperform” rating in a research note on Friday, April 26th. One research analyst has rated the stock with a hold rating and twenty-five have issued a buy rating to the company’s stock. The stock presently has an average rating of “Buy” and a consensus target price of $176.67.

Shares of V opened at $162.04 on Friday. The company has a debt-to-equity ratio of 0.58, a current ratio of 1.62 and a quick ratio of 1.50. Visa Inc has a 1-year low of $121.60 and a 1-year high of $165.74. The company has a market cap of $325.28 billion, a PE ratio of 35.15, a price-to-earnings-growth ratio of 1.86 and a beta of 1.00.

Visa (NYSE:V) last released its earnings results on Wednesday, April 24th. The credit-card processor reported $1.31 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $1.24 by $0.07. The firm had revenue of $5.49 billion during the quarter, compared to analysts’ expectations of $5.46 billion. Visa had a net margin of 51.34% and a return on equity of 40.56%. Visa’s revenue for the quarter was up 8.3% on a year-over-year basis. During the same period in the previous year, the company earned $1.11 EPS. As a group, sell-side analysts expect that Visa Inc will post 5.38 earnings per share for the current fiscal year.

The company also recently announced a quarterly dividend, which will be paid on Tuesday, June 4th. Shareholders of record on Friday, May 17th will be paid a $0.25 dividend. The ex-dividend date is Thursday, May 16th. This represents a $1.00 annualized dividend and a yield of 0.62%. Visa’s payout ratio is currently 21.69%.

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Visa Profile

Visa Inc operates as a payments technology company worldwide. The company facilitates commerce through the transfer of value and information among consumers, merchants, financial institutions, businesses, strategic partners, and government entities. It operates VisaNet, a processing network that enables authorization, clearing, and settlement of payment transactions; and offers fraud protection for account holders and assured payment for merchants.

Further Reading: What is a Special Dividend?

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Institutional Ownership by Quarter for Visa (NYSE:V)

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