Sumitomo Life Insurance Co Lowers stake in Visa Inc (V)

Visa Inc (V) : Sumitomo Life Insurance Co reduced its stake in Visa Inc by 6.16% during the most recent quarter end. The investment management company now holds a total of 94,639 shares of Visa Inc which is valued at $7,411,180 after selling 6,214 shares in Visa Inc , the firm said in a disclosure report filed with the SEC on Jul 15, 2016.Visa Inc makes up approximately 0.98% of Sumitomo Life Insurance Co’s portfolio.

Other Hedge Funds, Including , Boys Arnold Co Inc added V to its portfolio by purchasing 6,394 company shares during the most recent quarter which is valued at $500,714. Visa Inc makes up approx 0.08% of Boys Arnold Co Inc’s portfolio. Pure Financial Advisors sold out all of its stake in V during the most recent quarter. The investment firm sold 5,266 shares of V which is valued $407,904.

Visa Inc opened for trading at $78.35 and hit $78.6965 on the upside on Monday, eventually ending the session at $78.31, with a gain of 0.01% or 0.01 points. The heightened volatility saw the trading volume jump to 48,64,213 shares. Company has a market cap of $169,867 M.

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 .

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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