Citadel Advisors buys $331.2 Million stake in Visa Inc (V)

Visa Inc (V) : Citadel Advisors scooped up 1,263,524 additional shares in Visa Inc during the most recent quarter end , the firm said in a disclosure report filed with the SEC on May 13, 2016. The investment management firm now holds a total of 4,310,226 shares of Visa Inc which is valued at $331.2 Million.Visa Inc makes up approximately 0.98% of Citadel Advisors’s portfolio.

Other Hedge Funds, Including , East Coast Asset Management. boosted its stake in V in the latest quarter, The investment management firm added 1,598 additional shares and now holds a total of 59,364 shares of Visa Inc which is valued at $4.6 Million. Visa Inc makes up approx 2.43% of East Coast Asset Management.’s portfolio.Wfg Advisors Lp reduced its stake in V by selling 710 shares or 2.96% in the most recent quarter. The Hedge Fund company now holds 23,282 shares of V which is valued at $1.8 Million. Visa Inc makes up approx 0.52% of Wfg Advisors Lp’s portfolio.Profund Advisors reduced its stake in V by selling 18,621 shares or 27.68% in the most recent quarter. The Hedge Fund company now holds 48,640 shares of V which is valued at $3.8 Million. Visa Inc makes up approx 0.20% of Profund Advisors’s portfolio.Karp Capital Management Corp reduced its stake in V by selling 5,199 shares or 14.09% in the most recent quarter. The Hedge Fund company now holds 31,689 shares of V which is valued at $2.5 Million. Visa Inc makes up approx 1.74% of Karp Capital Management Corp’s portfolio.

Visa Inc closed down -0.32 points or -0.40% at $79.06 with 58,49,367 shares getting traded on Wednesday. Post opening the session at $79.5, the shares hit an intraday low of $78.95 and an intraday high of $79.67 and the price fluctuated in this range throughout the day.Shares ended Wednesday session in Red.

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. 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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