Cornerstone Advisors buys $559,624 stake in Visa Inc (V)

Visa Inc (V) : Cornerstone Advisors scooped up 204 additional shares in Visa Inc during the most recent quarter end , the firm said in a disclosure report filed with the SEC on Apr 20, 2016. The investment management firm now holds a total of 7,074 shares of Visa Inc which is valued at $559,624.Visa Inc makes up approximately 0.58% of Cornerstone Advisors’s portfolio.

Visa Inc closed down -1.68 points or -2.08% at $79.11 with 1,82,16,044 shares getting traded on Friday. Post opening the session at $78, the shares hit an intraday low of $77.28 and an intraday high of $79.355 and the price fluctuated in this range throughout the day.Shares ended Friday session in Red.

Other Hedge Funds, Including , Carroll Financial Associates boosted its stake in V in the latest quarter, The investment management firm added 740 additional shares and now holds a total of 10,907 shares of Visa Inc which is valued at $862,853. Visa Inc makes up approx 0.16% of Carroll Financial Associates’s portfolio. Beacon Capital Management sold out all of its stake in V during the most recent quarter. The investment firm sold 11 shares of V which is valued $870.First Hawaiian Bank reduced its stake in V by selling 2,379 shares or 45.17% in the most recent quarter. The Hedge Fund company now holds 2,888 shares of V which is valued at $231,271. Visa Inc makes up approx 0.04% of First Hawaiian Bank’s portfolio. Cedar Hill Associates sold out all of its stake in V during the most recent quarter. The investment firm sold 2,873 shares of V which is valued $230,070.Chevy Chase Trust Holdings boosted its stake in V in the latest quarter, The investment management firm added 29,858 additional shares and now holds a total of 1,993,246 shares of Visa Inc which is valued at $155,114,404. Visa Inc makes up approx 0.89% of Chevy Chase Trust Holdings’s portfolio.

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 Sun Trust Rbsn Humphrey on Apr 20, 2016 to “Buy”, Firm has raised the Price Target to $ 100 from a previous price target of $85 .Compass Point Initiated Visa Inc on Apr 15, 2016 to “Neutral”, Price Target of the shares are set at $80.Visa Inc was Downgraded by BofA/Merrill to ” Neutral” on Feb 11, 2016.

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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