Visa Inc. (NYSE:V) Shares Acquired by Pinnacle Wealth Management Group Inc.

Pinnacle Wealth Management Group Inc. increased its position in shares of Visa Inc. (NYSE:V) by 3.0% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 4,351 shares of the credit-card processor’s stock after acquiring an additional 128 shares during the quarter. Pinnacle Wealth Management Group Inc.’s holdings in Visa were worth $1,375,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also recently modified their holdings of the company. Peterson Financial Group Inc. acquired a new position in Visa in the third quarter valued at about $26,000. Modus Advisors LLC purchased a new position in shares of Visa during the 4th quarter worth approximately $32,000. Reston Wealth Management LLC acquired a new stake in Visa in the 3rd quarter valued at approximately $31,000. West Financial Advisors LLC raised its position in Visa by 101.4% in the third quarter. West Financial Advisors LLC now owns 145 shares of the credit-card processor’s stock valued at $40,000 after purchasing an additional 73 shares during the period. Finally, Fairway Wealth LLC acquired a new position in Visa during the second quarter worth $39,000. Hedge funds and other institutional investors own 82.15% of the company’s stock.

Visa Price Performance

Visa stock opened at $306.59 on Tuesday. The company has a debt-to-equity ratio of 0.55, a quick ratio of 1.28 and a current ratio of 1.28. Visa Inc. has a one year low of $252.70 and a one year high of $321.61. The company has a market cap of $571.14 billion, a P/E ratio of 31.51, a price-to-earnings-growth ratio of 2.11 and a beta of 0.96. The business has a fifty day moving average of $312.44 and a two-hundred day moving average of $287.32.

Visa (NYSE:V) last issued its earnings results on Tuesday, October 29th. The credit-card processor reported $2.71 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.58 by $0.13. The company had revenue of $9.62 billion during the quarter, compared to analysts’ expectations of $9.49 billion. Visa had a net margin of 54.96% and a return on equity of 53.16%. The firm’s quarterly revenue was up 11.7% compared to the same quarter last year. During the same period last year, the company posted $2.33 earnings per share. As a group, analysts predict that Visa Inc. will post 11.23 earnings per share for the current fiscal year.

Visa Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, December 2nd. Shareholders of record on Tuesday, November 12th were issued a $0.59 dividend. This is a positive change from Visa’s previous quarterly dividend of $0.52. The ex-dividend date of this dividend was Tuesday, November 12th. This represents a $2.36 annualized dividend and a yield of 0.77%. Visa’s dividend payout ratio is 24.25%.

Insider Transactions at Visa

In other Visa news, insider Paul D. Fabara sold 2,171 shares of Visa stock in a transaction that occurred on Friday, November 22nd. The shares were sold at an average price of $307.97, for a total value of $668,602.87. Following the completion of the sale, the insider now directly owns 17,894 shares of the company’s stock, valued at approximately $5,510,815.18. The trade was a 10.82 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Ryan Mcinerney sold 8,620 shares of the stock in a transaction on Thursday, January 2nd. The stock was sold at an average price of $317.78, for a total value of $2,739,263.60. The disclosure for this sale can be found here. Corporate insiders own 0.13% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts recently issued reports on the company. Piper Sandler boosted their price objective on Visa from $319.00 to $322.00 and gave the company an “overweight” rating in a report on Wednesday, October 30th. Barclays lifted their target price on Visa from $319.00 to $347.00 and gave the company an “overweight” rating in a report on Monday, November 4th. Keefe, Bruyette & Woods upped their price target on Visa from $335.00 to $360.00 and gave the stock an “outperform” rating in a report on Monday, December 9th. Macquarie lifted their price objective on Visa from $300.00 to $335.00 and gave the company an “outperform” rating in a research note on Wednesday, October 30th. Finally, Bank of America upped their target price on shares of Visa from $279.00 to $308.00 and gave the stock a “neutral” rating in a research note on Tuesday, September 17th. Four investment analysts have rated the stock with a hold rating, twenty-four have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $330.85.

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.