Eastern Bank Lowers stake in Visa Inc (V)

Visa Inc (V) : Eastern Bank reduced its stake in Visa Inc by 18.46% during the most recent quarter end. The investment management company now holds a total of 178,447 shares of Visa Inc which is valued at $14,712,955 after selling 40,409 shares in Visa Inc , the firm said in a disclosure report filed with the SEC on Oct 17, 2016.Visa Inc makes up approximately 1.20% of Eastern Bank’s portfolio.

Other Hedge Funds, Including , Howe Rusling Inc boosted its stake in V in the latest quarter, The investment management firm added 18 additional shares and now holds a total of 88 shares of Visa Inc which is valued at $7,256.Harwood Advisory Group boosted its stake in V in the latest quarter, The investment management firm added 53 additional shares and now holds a total of 2,789 shares of Visa Inc which is valued at $229,953. Visa Inc makes up approx 0.18% of Harwood Advisory Group’s portfolio.Hollencrest Securities reduced its stake in V by selling 562 shares or 3.01% in the most recent quarter. The Hedge Fund company now holds 18,096 shares of V which is valued at $1,484,596. Visa Inc makes up approx 0.22% of Hollencrest Securities’s portfolio.Gofen Glossberg Il boosted its stake in V in the latest quarter, The investment management firm added 828 additional shares and now holds a total of 4,686 shares of Visa Inc which is valued at $389,500. Visa Inc makes up approx 0.02% of Gofen Glossberg Il’s portfolio.

Visa Inc opened for trading at $82.04 and hit $83.19 on the upside on Friday, eventually ending the session at $82.45, with a gain of 0.71% or 0.58 points. The heightened volatility saw the trading volume jump to 66,98,083 shares. Company has a market cap of $194,649 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 .

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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