Everpoint Asset Management Lowers stake in Visa Inc (V)

Visa Inc (V) : Everpoint Asset Management reduced its stake in Visa Inc by 25.58% during the most recent quarter end. The investment management company now holds a total of 640,000 shares of Visa Inc which is valued at $51,212,800 after selling 220,000 shares in Visa Inc , the firm said in a disclosure report filed with the SEC on Aug 15, 2016.Visa Inc makes up approximately 1.34% of Everpoint Asset Management’s portfolio.

Other Hedge Funds, Including , Invictus Rg reduced its stake in V by selling 207 shares or 8.44% in the most recent quarter. The Hedge Fund company now holds 2,247 shares of V which is valued at $179,805. Visa Inc makes up approx 0.18% of Invictus Rg’s portfolio.Public Sector Pension Investment Board boosted its stake in V in the latest quarter, The investment management firm added 50,200 additional shares and now holds a total of 360,952 shares of Visa Inc which is valued at $28,883,379. Visa Inc makes up approx 0.35% of Public Sector Pension Investment Board’s portfolio.Hyman Charles D boosted its stake in V in the latest quarter, The investment management firm added 81 additional shares and now holds a total of 8,231 shares of Visa Inc which is valued at $659,632. Visa Inc makes up approx 0.10% of Hyman Charles D’s portfolio.Bristol Gate Capital Partners reduced its stake in V by selling 8,153 shares or 2.4% in the most recent quarter. The Hedge Fund company now holds 331,675 shares of V which is valued at $25,887,234. Visa Inc makes up approx 4.49% of Bristol Gate Capital Partners’s portfolio.Cypress Capital Management (wy) boosted its stake in V in the latest quarter, The investment management firm added 135 additional shares and now holds a total of 2,855 shares of Visa Inc which is valued at $222,833. Visa Inc makes up approx 0.29% of Cypress Capital Management (wy)’s portfolio.

Visa Inc opened for trading at $81.14 and hit $81.55 on the upside on Thursday, eventually ending the session at $81.3, with a gain of 0.49% or 0.4 points. The heightened volatility saw the trading volume jump to 62,40,551 shares. Company has a market cap of $174,744 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. Company shares were Reiterated by Stifel on Jul 22, 2016 to “Buy”, Firm has raised the Price Target to $ 91 from a previous price target of $86 .JP Morgan Resumed Visa Inc on Jun 6, 2016 to “Overweight”, Price Target of the shares are set at $88.

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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