American National Bank Lowers stake in Visa Inc (V)

Visa Inc (V) : American National Bank reduced its stake in Visa Inc by 11.79% during the most recent quarter end. The investment management company now holds a total of 73,288 shares of Visa Inc which is valued at $5,600,669 after selling 9,796 shares in Visa Inc , the firm said in a disclosure report filed with the SEC on Jul 8, 2016.Visa Inc makes up approximately 2.07% of American National Bank’s portfolio.

Other Hedge Funds, Including , Exxonmobil Investment Management Inc Tx boosted its stake in V in the latest quarter, The investment management firm added 25,794 additional shares and now holds a total of 493,056 shares of Visa Inc which is valued at $37,679,340. Visa Inc makes up approx 0.79% of Exxonmobil Investment Management Inc Tx’s portfolio.Howland Capital Management boosted its stake in V in the latest quarter, The investment management firm added 97 additional shares and now holds a total of 328,471 shares of Visa Inc which is valued at $25,101,754. Visa Inc makes up approx 2.34% of Howland Capital Management’s portfolio.Washington Trust Bank boosted its stake in V in the latest quarter, The investment management firm added 124 additional shares and now holds a total of 5,664 shares of Visa Inc which is valued at $432,843. Visa Inc makes up approx 0.11% of Washington Trust Bank’s portfolio.Curian Capital reduced its stake in V by selling 282,150 shares or 74.41% in the most recent quarter. The Hedge Fund company now holds 97,042 shares of V which is valued at $7,415,950. Visa Inc makes up approx 0.53% of Curian Capital’s portfolio.

Visa Inc closed down -0.02 points or -0.03% at $77.46 with 65,59,168 shares getting traded on Wednesday. Post opening the session at $77.68, the shares hit an intraday low of $77.2 and an intraday high of $77.78 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. JP Morgan Resumed Visa Inc on Jun 6, 2016 to “Overweight”, Price Target of the shares are set at $88.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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