Visa Inc. (NYSE:V) Shares Sold by Pinnacle Bancorp Inc.

Pinnacle Bancorp Inc. decreased its stake in Visa Inc. (NYSE:VGet Rating) by 0.5% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 23,916 shares of the credit-card processor’s stock after selling 130 shares during the period. Visa accounts for about 1.9% of Pinnacle Bancorp Inc.’s holdings, making the stock its 6th biggest holding. Pinnacle Bancorp Inc.’s holdings in Visa were worth $4,709,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Landmark Wealth Management LLC acquired a new stake in shares of Visa in the first quarter valued at about $32,000. Rise Advisors LLC bought a new stake in shares of Visa during the 4th quarter valued at about $35,000. Monumental Financial Group Inc. bought a new stake in shares of Visa during the 1st quarter valued at about $35,000. James Investment Research Inc. boosted its position in shares of Visa by 1,400.0% during the 1st quarter. James Investment Research Inc. now owns 180 shares of the credit-card processor’s stock valued at $40,000 after purchasing an additional 168 shares in the last quarter. Finally, Rather & Kittrell Inc. bought a new stake in shares of Visa during the 4th quarter valued at about $43,000. Institutional investors and hedge funds own 81.49% of the company’s stock.

Visa Stock Performance

Shares of Visa stock opened at $192.07 on Wednesday. The company has a market cap of $363.09 billion, a PE ratio of 28.33, a price-to-earnings-growth ratio of 1.56 and a beta of 0.90. Visa Inc. has a 52 week low of $185.91 and a 52 week high of $236.96. The business has a 50 day moving average price of $207.30 and a 200-day moving average price of $207.27. The company has a quick ratio of 1.43, a current ratio of 1.43 and a debt-to-equity ratio of 0.63.

Visa Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, September 1st. Stockholders of record on Friday, August 12th were paid a $0.375 dividend. This represents a $1.50 annualized dividend and a dividend yield of 0.78%. The ex-dividend date of this dividend was Thursday, August 11th. Visa’s dividend payout ratio (DPR) is presently 22.12%.

Analysts Set New Price Targets

Several brokerages recently commented on V. UBS Group upped their target price on Visa from $292.00 to $296.00 and gave the company a “buy” rating in a research report on Wednesday, July 27th. Piper Sandler cut their target price on Visa from $239.00 to $204.00 and set an “overweight” rating on the stock in a research report on Wednesday, July 6th. Daiwa Capital Markets lowered Visa from an “outperform” rating to a “neutral” rating and cut their target price for the company from $230.00 to $225.00 in a research report on Tuesday, August 16th. Royal Bank of Canada cut their target price on Visa from $278.00 to $262.00 in a research report on Wednesday, July 27th. Finally, Mizuho cut their price target on Visa from $235.00 to $215.00 and set a “neutral” rating on the stock in a report on Friday, July 1st. Four analysts have rated the stock with a hold rating and eighteen have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $257.64.

Insider Activity at Visa

In related news, CEO Alfred F. Kelly, Jr. sold 9,000 shares of the stock in a transaction that occurred on Friday, July 29th. The stock was sold at an average price of $212.11, for a total transaction of $1,908,990.00. Following the completion of the sale, the chief executive officer now directly owns 156,887 shares of the company’s stock, valued at $33,277,301.57. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. 0.21% of the stock is currently owned by company insiders.

Visa Company Profile

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Visa Inc operates as a payments technology company worldwide. The company facilitates digital payments among consumers, merchants, financial institutions, businesses, strategic partners, and government entities. It operates VisaNet, a transaction processing network that enables authorization, clearing, and settlement of payment transactions.

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Institutional Ownership by Quarter for Visa (NYSE:V)

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