Visa Inc (NYSE:V) Shares Sold by Convergence Investment Partners LLC

Convergence Investment Partners LLC decreased its stake in Visa Inc (NYSE:V) by 3.7% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 3,765 shares of the credit-card processor’s stock after selling 143 shares during the period. Convergence Investment Partners LLC’s holdings in Visa were worth $648,000 at the end of the most recent reporting period.

Several other institutional investors also recently modified their holdings of V. Nuveen Asset Management LLC boosted its stake in Visa by 3,715.7% during 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 during the period. Thoroughbred Financial Services LLC boosted its stake in Visa by 17,806.8% during 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 during the period. BlackRock Inc. boosted its stake in Visa by 2.3% during 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 during the period. Prudential Financial Inc. boosted its stake in Visa by 92.0% during 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 during the period. Finally, Vanguard Group Inc. boosted its stake in Visa by 1.1% during the 2nd quarter. Vanguard Group Inc. now owns 146,976,797 shares of the credit-card processor’s stock worth $25,507,824,000 after purchasing an additional 1,615,505 shares during the period. Institutional investors and hedge funds own 80.99% of the company’s stock.

A number of brokerages recently weighed in on V. ValuEngine cut shares of Visa from a “buy” rating to a “hold” rating in a research note on Wednesday, September 11th. Barclays increased their price target on shares of Visa from $181.00 to $195.00 and gave the stock an “overweight” rating in a research note on Friday, July 19th. Deutsche Bank increased 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. Wedbush set a $187.00 price target on shares of Visa and gave the stock a “buy” rating in a research note on Tuesday, September 24th. Finally, SunTrust Banks increased their price target on shares of Visa to $205.00 and gave the stock a “buy” rating in a research note on Wednesday, July 24th. 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 company has an average rating of “Buy” and a consensus price target of $196.57.

NYSE:V opened at $176.16 on Friday. The company has a current ratio of 1.69, a quick ratio of 1.69 and a debt-to-equity ratio of 0.57. The firm has a 50-day moving average price of $176.34 and a two-hundred day moving average price of $171.95. Visa Inc has a twelve month low of $121.60 and a twelve month high of $187.05. The company has a market capitalization of $338.97 billion, a P/E ratio of 38.21, a price-to-earnings-growth ratio of 1.76 and a beta of 0.96.

Visa (NYSE:V) last posted its earnings results on Thursday, October 24th. The credit-card processor reported $1.47 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $1.43 by $0.04. Visa had a net margin of 53.43% and a return on equity of 41.04%. The firm had revenue of $6.14 billion during the quarter, compared to the consensus estimate of $6.08 billion. During the same period last year, the firm posted $1.21 EPS. The firm’s revenue for the quarter was up 12.9% on a year-over-year basis. On average, equities research analysts predict that Visa Inc will post 5.4 earnings per share for the current year.

In related news, insider Vasant M. Prabhu sold 25,051 shares of the firm’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 value of $4,537,738.14. Following the transaction, the insider now owns 62,223 shares in the company, valued at $11,271,074.22. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, Director Denise M. Morrison acquired 1,000 shares of the company’s stock in a transaction dated 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 purchase, the director now directly owns 3,223 shares of the company’s stock, valued at $551,551.99. The disclosure for this purchase can be found here. 0.17% of the stock is owned by company insiders.

Visa 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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