Visa Inc (NYSE:V) Shares Sold by Victory Capital Management Inc.

Victory Capital Management Inc. cut its stake in shares of Visa Inc (NYSE:V) by 0.1% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 847,120 shares of the credit-card processor’s stock after selling 870 shares during the quarter. Victory Capital Management Inc.’s holdings in Visa were worth $112,201,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Fisher Asset Management LLC raised its stake in shares of Visa by 3.8% during the 2nd quarter. Fisher Asset Management LLC now owns 17,685,789 shares of the credit-card processor’s stock worth $2,342,483,000 after buying an additional 639,522 shares during the last quarter. Edgewood Management LLC raised its stake in shares of Visa by 3.8% during the 1st quarter. Edgewood Management LLC now owns 14,827,315 shares of the credit-card processor’s stock worth $1,773,643,000 after buying an additional 548,955 shares during the last quarter. MUFG Securities EMEA plc raised its stake in shares of Visa by 2.2% during the 1st quarter. MUFG Securities EMEA plc now owns 11,768,474 shares of the credit-card processor’s stock worth $1,407,745,000 after buying an additional 250,000 shares during the last quarter. Clearbridge Investments LLC raised its stake in shares of Visa by 3.5% during the 4th quarter. Clearbridge Investments LLC now owns 10,617,498 shares of the credit-card processor’s stock worth $1,210,607,000 after buying an additional 357,192 shares during the last quarter. Finally, Polen Capital Management LLC raised its stake in shares of Visa by 1.7% during the 1st quarter. Polen Capital Management LLC now owns 8,280,586 shares of the credit-card processor’s stock worth $990,524,000 after buying an additional 141,165 shares during the last quarter. 80.18% of the stock is owned by hedge funds and other institutional investors.

V has been the subject of a number of recent research reports. Morgan Stanley lifted their price objective on Visa from $142.00 to $165.00 and gave the stock a “$140.13” rating in a research report on Thursday, July 19th. Buckingham Research lifted their price objective on Visa from $152.00 to $169.00 and gave the stock a “buy” rating in a research report on Tuesday, June 26th. SunTrust Banks lifted their price objective on Visa to $170.00 and gave the stock a “buy” rating in a research report on Thursday, July 26th. They noted that the move was a valuation call. Loop Capital lifted their price objective on Visa to $157.00 and gave the stock a “buy” rating in a research report on Thursday, July 26th. They noted that the move was a valuation call. Finally, Bank of America lifted their price objective on Visa from $146.00 to $155.00 and gave the stock a “buy” rating in a research report on Tuesday, July 17th. Two equities research analysts have rated the stock with a hold rating and thirty-two have issued a buy rating to the company’s stock. Visa currently has an average rating of “Buy” and a consensus price target of $153.97.

Shares of V traded up $6.33 during trading on Friday, reaching $140.06. The company’s stock had a trading volume of 12,981,719 shares, compared to its average volume of 7,830,906. Visa Inc has a twelve month low of $106.60 and a twelve month high of $151.56. The firm has a market cap of $305.32 billion, a price-to-earnings ratio of 40.25, a PEG ratio of 1.86 and a beta of 1.06. The company has a quick ratio of 1.69, a current ratio of 1.69 and a debt-to-equity ratio of 0.60.

Visa (NYSE:V) last announced its earnings results on Wednesday, July 25th. The credit-card processor reported $1.20 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $1.09 by $0.11. Visa had a return on equity of 36.09% and a net margin of 47.91%. The company had revenue of $5.24 billion for the quarter, compared to analyst estimates of $5.09 billion. During the same period in the prior year, the company posted $0.86 EPS. Visa’s quarterly revenue was up 14.8% on a year-over-year basis. On average, equities analysts expect that Visa Inc will post 4.59 earnings per share for the current fiscal year.

In other news, SVP James H. Hoffmeister sold 6,912 shares of the business’s stock in a transaction that occurred on Monday, August 6th. The stock was sold at an average price of $140.01, for a total value of $967,749.12. Following the completion of the sale, the senior vice president now directly owns 6,912 shares in the company, valued at approximately $967,749.12. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO Vasant M. Prabhu sold 25,064 shares of the business’s stock in a transaction that occurred on Wednesday, August 8th. The shares were sold at an average price of $140.56, for a total value of $3,522,995.84. Following the completion of the sale, the chief financial officer now owns 58,232 shares of the company’s stock, valued at $8,185,089.92. The disclosure for this sale can be found here. Corporate insiders own 0.14% of the company’s stock.

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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