Pinnacle Financial Partners Inc. Has $26.67 Million Stock Position in Visa Inc (NYSE:V)

Pinnacle Financial Partners Inc. boosted its stake in shares of Visa Inc (NYSE:V) by 1.5% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 133,389 shares of the credit-card processor’s stock after buying an additional 1,932 shares during the quarter. Visa makes up 1.4% of Pinnacle Financial Partners Inc.’s portfolio, making the stock its 10th largest position. Pinnacle Financial Partners Inc.’s holdings in Visa were worth $26,674,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds also recently made changes to their positions in V. Cedar Mountain Advisors LLC lifted its holdings in Visa by 102.6% during the 2nd quarter. Cedar Mountain Advisors LLC now owns 158 shares of the credit-card processor’s stock valued at $31,000 after buying an additional 80 shares in the last quarter. Newfound Research LLC bought a new stake in Visa during the 3rd quarter valued at about $31,000. Price Wealth LLC lifted its holdings in Visa by 90.0% during the 2nd quarter. Price Wealth LLC now owns 190 shares of the credit-card processor’s stock valued at $37,000 after buying an additional 90 shares in the last quarter. Centerpoint Advisors LLC bought a new stake in Visa during the 2nd quarter valued at about $43,000. Finally, American Research & Management Co. lifted its holdings in Visa by 27.1% during the 2nd quarter. American Research & Management Co. now owns 267 shares of the credit-card processor’s stock valued at $52,000 after buying an additional 57 shares in the last quarter. Institutional investors own 80.74% of the company’s stock.

V stock traded down $4.74 during trading on Friday, reaching $180.13. The company had a trading volume of 309,702 shares, compared to its average volume of 10,079,897. The firm has a 50-day simple moving average of $200.32 and a 200-day simple moving average of $193.80. The company has a market cap of $359.09 billion, a price-to-earnings ratio of 34.37, a price-to-earnings-growth ratio of 2.59 and a beta of 0.91. The company has a debt-to-equity ratio of 0.59, a quick ratio of 1.55 and a current ratio of 1.55. Visa Inc has a twelve month low of $133.93 and a twelve month high of $217.35.

Visa (NYSE:V) last announced its quarterly earnings data on Wednesday, October 28th. The credit-card processor reported $1.12 EPS for the quarter, beating the consensus estimate of $1.09 by $0.03. Visa had a net margin of 51.37% and a return on equity of 40.65%. Sell-side analysts expect that Visa Inc will post 5.01 earnings per share for the current year.

In other Visa news, EVP Lynne Biggar sold 5,500 shares of Visa stock in a transaction that occurred on Monday, August 17th. The shares were sold at an average price of $199.99, for a total transaction of $1,099,945.00. Following the completion of the sale, the executive vice president now directly owns 19,370 shares in the company, valued at approximately $3,873,806.30. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Lloyd Carney sold 1,550 shares of Visa stock in a transaction that occurred on Tuesday, August 4th. The shares were sold at an average price of $192.64, for a total transaction of $298,592.00. Following the sale, the director now owns 2,962 shares of the company’s stock, valued at $570,599.68. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 111,122 shares of company stock valued at $23,383,541. Company insiders own 0.19% of the company’s stock.

A number of research analysts have commented on V shares. Royal Bank of Canada reissued a “buy” rating and set a $243.00 target price on shares of Visa in a research report on Sunday, October 11th. Raymond James cut their target price on shares of Visa from $217.00 to $211.00 and set an “outperform” rating on the stock in a research report on Thursday. Bank of America raised their target price on shares of Visa from $227.00 to $234.00 and gave the company a “buy” rating in a research report on Thursday, August 27th. Daiwa Capital Markets reaffirmed a “neutral” rating and issued a $204.00 price objective on shares of Visa in a research report on Tuesday, July 21st. Finally, Jefferies Financial Group lifted their price objective on shares of Visa from $185.00 to $205.00 and gave the stock a “hold” rating in a research report on Friday, October 2nd. Six analysts have rated the stock with a hold rating and twenty-four have given a buy rating to the stock. The company currently has a consensus rating of “Buy” and a consensus price target of $216.79.

Visa Company 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.

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Institutional Ownership by Quarter for Visa (NYSE:V)

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