Abner Herrman & Brock LLC Sells 649 Shares of Visa Inc (NYSE:V)

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Abner Herrman & Brock LLC decreased its stake in shares of Visa Inc (NYSE:V) by 13.5% in the 3rd quarter, according to its most recent 13F filing with the SEC. The firm owned 4,157 shares of the credit-card processor’s stock after selling 649 shares during the period. Abner Herrman & Brock LLC’s holdings in Visa were worth $715,000 as of its most recent filing with the SEC.

Several other hedge funds also recently made changes to their positions in the stock. Lunia Capital LP raised 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 worth $23,454,000 after purchasing an additional 23,280,332 shares in the last quarter. Nuveen Asset Management LLC raised its stake in Visa by 3,715.7% in the 2nd quarter. Nuveen Asset Management LLC now owns 16,291,965 shares of the credit-card processor’s stock worth $2,827,471,000 after purchasing an additional 15,864,991 shares in the last quarter. Thoroughbred Financial Services LLC raised its stake in Visa by 17,806.8% in the 2nd quarter. Thoroughbred Financial Services LLC now owns 3,346,951 shares of the credit-card processor’s stock worth $334,695,000 after purchasing an additional 3,328,260 shares in the last quarter. BlackRock Inc. raised 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 worth $21,483,952,000 after purchasing an additional 2,773,330 shares in the last quarter. Finally, Prudential Financial Inc. raised its stake in Visa by 92.0% in the 2nd quarter. Prudential Financial Inc. now owns 3,898,728 shares of the credit-card processor’s stock worth $676,625,000 after purchasing an additional 1,868,089 shares in the last quarter. 80.99% of the stock is owned by institutional investors and hedge funds.

Several analysts have weighed in on the stock. Wells Fargo & Co lifted their price objective on shares of Visa from $181.00 to $200.00 and gave the stock an “outperform” rating in a research note on Wednesday, July 10th. Bank of America lifted their price objective on shares of Visa from $177.00 to $192.00 and gave the stock a “buy” rating in a research note on Monday, June 17th. Citigroup lifted their price objective on shares of Visa from $185.00 to $206.00 and gave the stock a “buy” rating in a research note on Monday, September 9th. Raymond James lifted their price objective on shares of Visa from $177.00 to $193.00 and gave the stock an “outperform” rating in a research note on Wednesday, July 24th. Finally, UBS Group boosted their target price on shares of Visa from $183.00 to $187.00 and gave the company a “neutral” rating in a research report on Thursday, August 1st. Three research analysts have rated the stock with a hold rating and twenty-two have assigned a buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and an average price target of $196.57.

In related news, insider Vasant M. Prabhu sold 25,051 shares of the company’s stock in a transaction that occurred on Wednesday, August 21st. The shares were sold at an average price of $181.14, for a total transaction of $4,537,738.14. Following the completion of the transaction, the insider now directly owns 62,223 shares in the company, valued at approximately $11,271,074.22. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Denise M. Morrison acquired 1,000 shares of the stock in a transaction that occurred on Tuesday, August 6th. The shares were bought at an average price of $171.13 per share, with a total value of $171,130.00. Following the completion of the transaction, the director now owns 3,223 shares in the company, valued at $551,551.99. The disclosure for this purchase can be found here. 0.17% of the stock is owned by corporate insiders.

Shares of NYSE:V traded up $3.20 during midday trading on Friday, hitting $178.08. The stock had a trading volume of 376,475 shares, compared to its average volume of 8,476,525. The company’s 50-day moving average price is $177.10 and its 200-day moving average price is $170.53. The company has a market capitalization of $353.87 billion, a P/E ratio of 38.65, a price-to-earnings-growth ratio of 1.77 and a beta of 0.96. The company has a quick ratio of 1.69, a current ratio of 1.69 and a debt-to-equity ratio of 0.57. Visa Inc has a fifty-two week low of $121.60 and a fifty-two week high of $187.05.

Visa (NYSE:V) last issued its earnings results on Tuesday, July 23rd. The credit-card processor reported $1.37 EPS for the quarter, beating the consensus estimate of $1.33 by $0.04. The company had revenue of $5.84 billion during the quarter, compared to analysts’ expectations of $5.70 billion. Visa had a net margin of 53.43% and a return on equity of 41.04%. The business’s revenue for the quarter was up 11.5% compared to the same quarter last year. During the same period in the previous year, the company earned $1.20 EPS. Research analysts expect that Visa Inc will post 5.41 EPS for the current fiscal year.

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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