Pinnacle Wealth Planning Services Inc. Has $3.78 Million Position in Visa Inc. (NYSE:V)

Pinnacle Wealth Planning Services Inc. reduced its stake in Visa Inc. (NYSE:V) by 12.6% during the 4th quarter, Holdings Channel.com reports. The firm owned 11,948 shares of the credit-card processor’s stock after selling 1,724 shares during the period. Visa accounts for 0.6% of Pinnacle Wealth Planning Services Inc.’s holdings, making the stock its 29th largest holding. Pinnacle Wealth Planning Services Inc.’s holdings in Visa were worth $3,776,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds have also recently modified their holdings of the company. Bradley & Co. Private Wealth Management LLC bought a new stake in shares of Visa in the fourth quarter valued at about $27,000. POM Investment Strategies LLC boosted its position in shares of Visa by 48.5% in the fourth quarter. POM Investment Strategies LLC now owns 98 shares of the credit-card processor’s stock valued at $31,000 after acquiring an additional 32 shares during the period. Compass Planning Associates Inc bought a new stake in shares of Visa in the fourth quarter valued at about $32,000. NewSquare Capital LLC bought a new stake in shares of Visa in the fourth quarter valued at about $35,000. Finally, FPC Investment Advisory Inc. boosted its position in shares of Visa by 377.3% in the fourth quarter. FPC Investment Advisory Inc. now owns 105 shares of the credit-card processor’s stock valued at $36,000 after acquiring an additional 83 shares during the period. 82.15% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In other news, General Counsel Julie B. Rottenberg sold 2,575 shares of the company’s stock in a transaction that occurred on Thursday, May 1st. The stock was 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 of the company’s stock, valued at $4,121,041.50. This represents a 17.76% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, insider Paul D. Fabara sold 39,350 shares of the company’s stock in a transaction that occurred on Friday, March 14th. The shares were sold at an average price of $327.20, for a total value of $12,875,320.00. Following the completion of the transaction, the insider now directly owns 26,413 shares of the company’s stock, valued at $8,642,333.60. This represents a 59.84% decrease in their position. The disclosure for this sale can be found here. Insiders sold 121,948 shares of company stock valued at $41,548,282 over the last quarter. 0.13% of the stock is owned by company insiders.

Visa Stock Down 1.1%

V stock opened at $354.04 on Monday. The stock has a market capitalization of $653.27 billion, a P/E ratio of 35.69, a price-to-earnings-growth ratio of 2.33 and a beta of 0.96. The company has a current ratio of 1.12, a quick ratio of 1.12 and a debt-to-equity ratio of 0.45. Visa Inc. has a 12 month low of $252.70 and a 12 month high of $369.15. The firm has a 50-day moving average price of $341.47 and a 200-day moving average price of $332.10.

Visa (NYSE:V) last posted 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. Visa had a net margin of 54.27% and a return on equity of 54.79%. The firm had revenue of $9.59 billion during the quarter, compared to analysts’ expectations of $9.57 billion. During the same quarter in the prior year, the business earned $2.51 earnings per share. The business’s revenue for the quarter was up 9.3% compared to the same quarter last year. As a group, equities research analysts anticipate that Visa Inc. will post 11.3 EPS for the current fiscal year.

Visa Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, June 2nd. Stockholders of record on Tuesday, May 13th will be paid a $0.59 dividend. This represents a $2.36 annualized dividend and a dividend yield of 0.67%. The ex-dividend date of this dividend is Tuesday, May 13th. Visa’s dividend payout ratio is currently 23.72%.

Analysts Set New Price Targets

A number of equities research analysts have recently issued reports on V shares. Keefe, Bruyette & Woods reissued a “hold” rating on shares of Visa in a research report on Thursday, February 13th. Citigroup reaffirmed a “neutral” rating on shares of Visa in a research report on Thursday, February 13th. Evercore ISI began coverage on shares of Visa in a research report on Wednesday, April 9th. They set an “in-line” rating and a $330.00 price objective for the company. Bank of America upped their price objective on shares of Visa from $331.00 to $363.00 and gave the stock a “neutral” rating in a research report on Friday, January 31st. Finally, Macquarie cut their price objective on shares of Visa from $400.00 to $380.00 and set an “outperform” rating for the company in a research report on Wednesday, April 30th. Six analysts have rated the stock with a hold rating, twenty-one have given a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, Visa presently has an average rating of “Moderate Buy” and an average price target 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.