Fisher Asset Management Lowers stake in Visa Inc (V)

Visa Inc (V) : Fisher Asset Management reduced its stake in Visa Inc by 0.01% during the most recent quarter end. The investment management company now holds a total of 14,787,793 shares of Visa Inc which is valued at $1,169,862,304 after selling 909 shares in Visa Inc , the firm said in a disclosure report filed with the SEC on Apr 18, 2016.Visa Inc makes up approximately 2.29% of Fisher Asset Management’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 , Blb&b Advisors boosted its stake in V in the latest quarter, The investment management firm added 1,952 additional shares and now holds a total of 46,377 shares of Visa Inc which is valued at $3,668,884. Visa Inc makes up approx 0.73% of Blb&b Advisors’s portfolio.Jacobs Coca boosted its stake in V in the latest quarter, The investment management firm added 3,653 additional shares and now holds a total of 123,827 shares of Visa Inc which is valued at $9,916,066. Visa Inc makes up approx 2.35% of Jacobs Coca’s portfolio.Charter Trust Co boosted its stake in V in the latest quarter, The investment management firm added 253 additional shares and now holds a total of 18,906 shares of Visa Inc which is valued at $1,471,265. Visa Inc makes up approx 0.18% of Charter Trust Co’s portfolio.First American Trust Fsb reduced its stake in V by selling 12,053 shares or 15.65% in the most recent quarter. The Hedge Fund company now holds 64,972 shares of V which is valued at $5,056,121. Visa Inc makes up approx 1.79% of First American Trust Fsb’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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