Blackrock Investment Management buys $627,316,390 stake in Visa Inc (V)

Visa Inc (V) : Blackrock Investment Management scooped up 152,912 additional shares in Visa Inc during the most recent quarter end , the firm said in a disclosure report filed with the SEC on Aug 10, 2016. The investment management firm now holds a total of 7,839,495 shares of Visa Inc which is valued at $627,316,390.Visa Inc makes up approximately 0.76% of Blackrock Investment Management’s portfolio.

Other Hedge Funds, Including , Wade G W Inc boosted its stake in V in the latest quarter, The investment management firm added 421 additional shares and now holds a total of 6,817 shares of Visa Inc which is valued at $546,314. Visa Inc makes up approx 0.09% of Wade G W Inc’s portfolio.Davy Asset Management Ltd boosted its stake in V in the latest quarter, The investment management firm added 2,998 additional shares and now holds a total of 96,235 shares of Visa Inc which is valued at $7,574,657. Visa Inc makes up approx 1.52% of Davy Asset Management Ltd’s portfolio.Welch Group reduced its stake in V by selling 858 shares or 22.45% in the most recent quarter. The Hedge Fund company now holds 2,964 shares of V which is valued at $231,340. Visa Inc makes up approx 0.05% of Welch Group’s portfolio. Fox Run Management L.l.c. sold out all of its stake in V during the most recent quarter. The investment firm sold 8,100 shares of V which is valued $642,816.

Visa Inc opened for trading at $80.01 and hit $80.47 on the upside on Friday, eventually ending the session at $80.47, with a gain of 0.25% or 0.2 points. The heightened volatility saw the trading volume jump to 84,80,876 shares. Company has a market cap of $172,960 M.

On the company’s financial health, Visa Inc reported $0.68 EPS for the quarter, beating the analyst consensus estimate by $ 0.02 according to the earnings call on Apr 21, 2016. Analyst had a consensus of $0.66. The company had revenue of $3626.00 million for the quarter, compared to analysts expectations of $3600.06 million. The company’s revenue was up 6.4% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.63 EPS.

Many Wall Street Analysts have commented on Visa Inc. Company shares were Reiterated by Stifel on Jul 22, 2016 to “Buy”, Firm has raised the Price Target to $ 91 from a previous price target of $86 .JP Morgan Resumed Visa Inc on Jun 6, 2016 to “Overweight”, Price Target of the shares are set at $88.

Visa Inc. is a payments technology company. The Company is engaged in operating a processing network VisaNet which facilitates authorization clearing and settlement of payment transactions across the world. The Company provides its services to consumers businesses financial institutions and governments in more than 200 countries and territories for electronic payments. The Company offers fraud protection for account holders and rapid payment for merchants. The Company provides a variety of payment solutions that support payment products that issuers can offer to their account holders such as pay now with debit pay ahead with prepaid or pay later with credit products. The Company offers a suite of digital eCommerce and mobile products and services.

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