HBK Sorce Advisory LLC Sells 3,811 Shares of Visa Inc (NYSE:V)

HBK Sorce Advisory LLC decreased its holdings in Visa Inc (NYSE:V) by 17.2% during the 2nd quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 18,386 shares of the credit-card processor’s stock after selling 3,811 shares during the quarter. HBK Sorce Advisory LLC’s holdings in Visa were worth $3,191,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Vanguard Group Inc. increased its stake in Visa by 1.1% in the 2nd quarter. Vanguard Group Inc. now owns 146,976,797 shares of the credit-card processor’s stock valued at $25,507,824,000 after buying an additional 1,615,505 shares during the last quarter. BlackRock Inc. increased its stake in Visa by 2.3% in the 2nd quarter. BlackRock Inc. now owns 123,791,138 shares of the credit-card processor’s stock valued at $21,483,952,000 after buying an additional 2,773,330 shares during the last quarter. FMR LLC increased its stake in Visa by 1.9% in the 1st quarter. FMR LLC now owns 92,255,849 shares of the credit-card processor’s stock valued at $14,409,440,000 after buying an additional 1,731,813 shares during the last quarter. Lunia Capital LP increased its stake in Visa by 13,370.7% in the 4th quarter. Lunia Capital LP now owns 23,454,446 shares of the credit-card processor’s stock valued at $23,454,000 after buying an additional 23,280,332 shares during the last quarter. Finally, Northern Trust Corp increased its stake in Visa by 6.5% in the 2nd quarter. Northern Trust Corp now owns 20,991,024 shares of the credit-card processor’s stock valued at $3,642,991,000 after buying an additional 1,276,243 shares during the last quarter. 80.99% of the stock is currently owned by institutional investors and hedge funds.

In other news, Director Denise M. Morrison acquired 1,000 shares of the firm’s stock in a transaction on Tuesday, August 6th. The shares were purchased at an average price of $171.13 per share, for a total transaction of $171,130.00. Following the completion of the transaction, the director now owns 3,223 shares of the company’s stock, valued at $551,551.99. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director Lloyd Carney sold 3,500 shares of the business’s stock in a transaction dated Friday, July 26th. The shares were sold at an average price of $182.73, for a total transaction of $639,555.00. Following the completion of the transaction, the director now owns 3,452 shares in the company, valued at approximately $630,783.96. The disclosure for this sale can be found here. 0.17% of the stock is owned by company insiders.

Several brokerages have recently issued reports on V. Wedbush restated an “outperform” rating on shares of Visa in a research note on Wednesday, July 3rd. Guggenheim raised their price target on shares of Visa from $178.00 to $190.00 and gave the stock a “positive” rating in a research note on Wednesday, July 24th. Deutsche Bank raised their price target on shares of Visa from $177.00 to $225.00 and gave the stock a “buy” rating in a research note on Thursday, July 11th. JPMorgan Chase & Co. raised their price target on shares of Visa from $166.00 to $182.00 and gave the stock an “overweight” rating in a research note on Wednesday, July 24th. Finally, UBS Group raised their price target on shares of Visa from $183.00 to $187.00 and gave the stock a “neutral” rating in a research note on Thursday, August 1st. Three investment analysts have rated the stock with a hold rating and twenty-two have assigned a buy rating to the company. The stock has a consensus rating of “Buy” and a consensus target price of $196.57.

Shares of NYSE V traded down $1.90 during mid-day trading on Friday, reaching $174.06. 12,813,289 shares of the company were exchanged, compared to its average volume of 6,383,380. Visa Inc has a 52 week low of $121.60 and a 52 week high of $187.05. The company has a quick ratio of 1.69, a current ratio of 1.69 and a debt-to-equity ratio of 0.57. The stock has a market capitalization of $349.09 billion, a PE ratio of 37.76, a PEG ratio of 1.98 and a beta of 0.97. The company’s 50 day moving average price is $178.22 and its 200 day moving average price is $168.24.

Visa (NYSE:V) last posted its quarterly earnings data on Tuesday, July 23rd. The credit-card processor reported $1.37 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.33 by $0.04. The company had revenue of $5.84 billion during the quarter, compared to the consensus estimate of $5.70 billion. Visa had a net margin of 53.43% and a return on equity of 41.04%. The firm’s revenue was up 11.5% compared to the same quarter last year. During the same period in the previous year, the firm posted $1.20 EPS. On average, sell-side analysts predict that Visa Inc will post 5.4 earnings per share for the current year.

The firm also recently announced a quarterly dividend, which was paid on Tuesday, September 3rd. Investors of record on Friday, August 16th were given a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a yield of 0.57%. The ex-dividend date of this dividend was Thursday, August 15th. Visa’s payout ratio is presently 21.69%.

About Visa

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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