Visa Inc (NYSE:V) Shares Bought by Acorn Financial Advisory Services Inc. ADV

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Acorn Financial Advisory Services Inc. ADV raised its stake in Visa Inc (NYSE:V) by 10.4% in the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 1,380 shares of the credit-card processor’s stock after acquiring an additional 130 shares during the quarter. Acorn Financial Advisory Services Inc. ADV’s holdings in Visa were worth $276,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. BlackRock Inc. raised its holdings in shares of Visa by 2.3% in the second quarter. BlackRock Inc. now owns 126,278,384 shares of the credit-card processor’s stock worth $24,393,195,000 after acquiring an additional 2,819,598 shares during the last quarter. Capital International Investors increased its stake in Visa by 6.1% in the first quarter. Capital International Investors now owns 21,881,462 shares of the credit-card processor’s stock valued at $3,525,557,000 after purchasing an additional 1,250,002 shares during the last quarter. Fisher Asset Management LLC increased its stake in Visa by 3.2% in the second quarter. Fisher Asset Management LLC now owns 20,979,235 shares of the credit-card processor’s stock valued at $4,052,559,000 after purchasing an additional 660,147 shares during the last quarter. Bank of New York Mellon Corp increased its stake in Visa by 1.6% in the second quarter. Bank of New York Mellon Corp now owns 16,917,898 shares of the credit-card processor’s stock valued at $3,268,029,000 after purchasing an additional 260,069 shares during the last quarter. Finally, Nuveen Asset Management LLC increased its stake in Visa by 5.6% in the second quarter. Nuveen Asset Management LLC now owns 16,193,092 shares of the credit-card processor’s stock valued at $3,128,020,000 after purchasing an additional 862,914 shares during the last quarter. 80.74% of the stock is owned by institutional investors.

Several research firms recently commented on V. Raymond James upped their target price on Visa from $204.00 to $217.00 and gave the company an “outperform” rating in a research note on Wednesday, July 29th. Daiwa Capital Markets reiterated a “neutral” rating and issued a $204.00 target price on shares of Visa in a research note on Tuesday, July 21st. Jefferies Financial Group upped their target price on Visa from $185.00 to $205.00 and gave the company a “hold” rating in a research note on Friday, October 2nd. Wedbush reiterated a “buy” rating and issued a $220.00 target price on shares of Visa in a research note on Monday, October 5th. Finally, KeyCorp upped their target price on Visa from $215.00 to $230.00 and gave the company an “overweight” rating in a research note on Monday, September 21st. Six analysts have rated the stock with a hold rating and twenty-four have assigned a buy rating to the company’s stock. Visa presently has an average rating of “Buy” and an average target price of $214.72.

In related news, CEO Alfred F. Kelly, Jr. sold 7,000 shares of the stock in a transaction dated Thursday, July 30th. The stock was sold at an average price of $195.00, for a total value of $1,365,000.00. Following the completion of the transaction, the chief executive officer now owns 130,090 shares of the company’s stock, valued at $25,367,550. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Lloyd Carney sold 1,550 shares of the stock in a transaction dated Tuesday, August 4th. The shares were sold at an average price of $192.64, for a total value of $298,592.00. Following the completion of the transaction, the director now directly owns 2,962 shares of the company’s stock, valued at approximately $570,599.68. The disclosure for this sale can be found here. Insiders sold 118,122 shares of company stock valued at $24,748,541 in the last ninety days. Company insiders own 0.19% of the company’s stock.

Shares of NYSE V opened at $200.26 on Friday. Visa Inc has a 1-year low of $133.93 and a 1-year high of $217.35. The business has a 50-day moving average of $203.88 and a 200-day moving average of $191.62. The company has a debt-to-equity ratio of 0.59, a current ratio of 1.55 and a quick ratio of 1.55. The company has a market capitalization of $388.98 billion, a price-to-earnings ratio of 38.14, a PEG ratio of 3.05 and a beta of 0.90.

Visa (NYSE:V) last issued its earnings results on Tuesday, July 28th. The credit-card processor reported $1.07 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $1.02 by $0.05. Visa had a return on equity of 40.65% and a net margin of 51.37%. The company had revenue of $4.84 billion during the quarter, compared to the consensus estimate of $4.85 billion. During the same quarter in the prior year, the business earned $1.37 earnings per share. The company’s revenue was down 18.6% compared to the same quarter last year. Research analysts expect that Visa Inc will post 5.01 EPS for the current fiscal year.

Visa Company 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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