Fox Point Capital Management adds Visa Inc (V) to its portfolio

Visa Inc (V) : Fox Point Capital Management added new position in Visa Inc during the most recent quarter end. The investment management firm now holds 50,000 shares of Visa Inc which is valued at $3.8 Million , the company said in a statement filed on May 13, 2016 with the SEC.Visa Inc makes up approximately 5.25% of Fox Point Capital Management’s portfolio.

Other Hedge Funds, Including , Sand Hill Global Advisors boosted its stake in V in the latest quarter, The investment management firm added 8,107 additional shares and now holds a total of 79,228 shares of Visa Inc which is valued at $6.1 Million. Visa Inc makes up approx 0.93% of Sand Hill Global Advisors’s portfolio. Cypress Wealth Advisors added V to its portfolio by purchasing 2,918 company shares during the most recent quarter which is valued at $224,190. Visa Inc makes up approx 0.08% of Cypress Wealth Advisors’s portfolio.Violich Capital Management reduced its stake in V by selling 7,055 shares or 3.81% in the most recent quarter. The Hedge Fund company now holds 178,273 shares of V which is valued at $13.7 Million. Visa Inc makes up approx 4.43% of Violich Capital Management’s portfolio.Cortland Associates Incmo reduced its stake in V by selling 286,369 shares or 31.77% in the most recent quarter. The Hedge Fund company now holds 615,089 shares of V which is valued at $47.8 Million. Visa Inc makes up approx 10.15% of Cortland Associates Incmo’s portfolio.State Of New Jersey Common Pension Fund D boosted its stake in V in the latest quarter, The investment management firm added 100,000 additional shares and now holds a total of 2,740,000 shares of Visa Inc which is valued at $211.6 Million. Visa Inc makes up approx 0.95% of State Of New Jersey Common Pension Fund D’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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