North American Management Corp Lowers stake in Visa Inc (V)

Visa Inc (V) : North American Management Corp reduced its stake in Visa Inc by 8.3% during the most recent quarter end. The investment management company now holds a total of 249,987 shares of Visa Inc which is valued at $20,018,959 after selling 22,632 shares in Visa Inc , the firm said in a disclosure report filed with the SEC on Apr 13, 2016.Visa Inc makes up approximately 3.22% of North American Management Corp’s portfolio.

Visa Inc opened for trading at $80.2 and hit $81.55 on the upside on Monday, eventually ending the session at $81.45, with a gain of 1.71% or 1.37 points. The heightened volatility saw the trading volume jump to 77,61,240 shares. Company has a market cap of $177,891 M.

Other Hedge Funds, Including , Maple Securities Usa Inc sold out all of its stake in V during the most recent quarter. The investment firm sold 36,974 shares of V which is valued $2,960,878. Monroe Bank Trustmi added V to its portfolio by purchasing 60 company shares during the most recent quarter which is valued at $4,805.Dorsey Wright Associates boosted its stake in V in the latest quarter, The investment management firm added 208 additional shares and now holds a total of 9,363 shares of Visa Inc which is valued at $728,629. Visa Inc makes up approx 0.39% of Dorsey Wright Associates’s portfolio.

On the company’s financial health, Visa Inc reported $0.69 EPS for the quarter, beating the analyst consensus estimate by $ 0.01 according to the earnings call on Jan 28, 2016. Analyst had a consensus of $0.68. The company had revenue of $3565.00 million for the quarter, compared to analysts expectations of $3605.16 million. The company’s revenue was up 5.4% compared to the same quarter last year. During the same quarter in the previous year, the company posted $2.53 EPS.

Many Wall Street Analysts have commented on Visa Inc. 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. Shares were Reiterated by RBC Capital Mkts on Jan 29, 2016 to “Outperform” and Lowered the Price Target to $ 87 from a previous price target of $91 .

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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