Visa Inc. (NYSE:V) is Pinnacle Financial Partners Inc’s 9th Largest Position

Pinnacle Financial Partners Inc raised its stake in shares of Visa Inc. (NYSE:V) by 0.6% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 430,976 shares of the credit-card processor’s stock after acquiring an additional 2,369 shares during the quarter. Visa makes up about 2.6% of Pinnacle Financial Partners Inc’s portfolio, making the stock its 9th biggest position. Pinnacle Financial Partners Inc’s holdings in Visa were worth $128,292,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also made changes to their positions in the company. State Street Corp grew its position in shares of Visa by 4.5% in the 3rd quarter. State Street Corp now owns 76,610,942 shares of the credit-card processor’s stock worth $21,064,179,000 after buying an additional 3,327,977 shares during the last quarter. FMR LLC boosted its stake in Visa by 6.1% in the third quarter. FMR LLC now owns 57,111,843 shares of the credit-card processor’s stock valued at $15,702,901,000 after acquiring an additional 3,265,518 shares in the last quarter. Geode Capital Management LLC grew its holdings in Visa by 7.7% in the third quarter. Geode Capital Management LLC now owns 38,655,250 shares of the credit-card processor’s stock worth $10,601,135,000 after purchasing an additional 2,772,549 shares during the last quarter. B. Metzler seel. Sohn & Co. Holding AG acquired a new position in shares of Visa during the third quarter worth $268,640,000. Finally, Janney Montgomery Scott LLC purchased a new stake in shares of Visa during the 3rd quarter valued at $227,342,000. 82.15% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several research analysts recently issued reports on the company. Susquehanna upped their target price on Visa from $395.00 to $410.00 and gave the company a “positive” rating in a research report on Friday. Robert W. Baird upped their price objective on shares of Visa from $330.00 to $340.00 and gave the company an “outperform” rating in a report on Wednesday, October 30th. Seaport Res Ptn raised shares of Visa from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, January 14th. Jefferies Financial Group boosted their target price on shares of Visa from $320.00 to $330.00 and gave the stock a “buy” rating in a research report on Wednesday, October 30th. Finally, Raymond James reaffirmed an “outperform” rating and issued a $393.00 price target (up previously from $374.00) on shares of Visa in a report on Friday, January 31st. Six research 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 stock. According to data from MarketBeat, Visa presently has an average rating of “Moderate Buy” and an average target price of $353.96.

Insider Activity at Visa

In other Visa news, insider Tullier Kelly Mahon sold 33,741 shares of the stock in a transaction on Friday, February 7th. The shares were sold at an average price of $349.77, for a total transaction of $11,801,589.57. Following the transaction, the insider now directly owns 36,566 shares of the company’s stock, valued at $12,789,689.82. This trade represents a 47.99 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CAO Peter M. Andreski sold 2,332 shares of the business’s stock in a transaction dated Friday, February 7th. The stock was sold at an average price of $349.62, for a total transaction of $815,313.84. Following the sale, the chief accounting officer now directly owns 4,488 shares of the company’s stock, valued at $1,569,094.56. This represents a 34.19 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 55,885 shares of company stock valued at $19,161,447. 0.13% of the stock is owned by company insiders.

Visa Trading Up 0.3 %

Shares of Visa stock opened at $349.46 on Tuesday. The firm has a 50-day simple moving average of $329.81 and a two-hundred day simple moving average of $303.29. 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 Inc. has a fifty-two week low of $252.70 and a fifty-two week high of $357.15. The company has a market cap of $649.21 billion, a P/E ratio of 35.23, a price-to-earnings-growth ratio of 2.33 and a beta of 0.97.

Visa (NYSE:V) last released its quarterly earnings results on Thursday, January 30th. The credit-card processor reported $2.75 earnings per share for the quarter, topping analysts’ consensus estimates of $2.66 by $0.09. Visa had a return on equity of 54.79% and a net margin of 54.27%. As a group, equities analysts predict that Visa Inc. will post 11.3 earnings per share for the current fiscal year.

Visa Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, March 3rd. Stockholders of record on Tuesday, February 11th will be given a dividend of $0.59 per share. The ex-dividend date is Tuesday, February 11th. This represents a $2.36 dividend on an annualized basis and a dividend yield of 0.68%. Visa’s dividend payout ratio (DPR) is 23.79%.

Visa Company 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.