Grassi Investment Management Lowers stake in Visa Inc (V)

Visa Inc (V) : Grassi Investment Management reduced its stake in Visa Inc by 0.79% during the most recent quarter end. The investment management company now holds a total of 100,505 shares of Visa Inc which is valued at $8,245,430 after selling 799 shares in Visa Inc , the firm said in a disclosure report filed with the SEC on Oct 12, 2016.Visa Inc makes up approximately 1.59% of Grassi Investment Management’s portfolio.

Other Hedge Funds, Including , Patten Patten Inctn reduced its stake in V by selling 291 shares or 0.35% in the most recent quarter. The Hedge Fund company now holds 82,352 shares of V which is valued at $6,756,158. Visa Inc makes up approx 0.88% of Patten Patten Inctn’s portfolio. Maple Securities Usa Inc sold out all of its stake in V during the most recent quarter. The investment firm sold 36,974 shares of V which is valued $3,073,279.Nepsis Capital Management reduced its stake in V by selling 6,620 shares or 7.22% in the most recent quarter. The Hedge Fund company now holds 85,038 shares of V which is valued at $7,068,359. Visa Inc makes up approx 3.78% of Nepsis Capital Management’s portfolio.Cutler Group Lp boosted its stake in V in the latest quarter, The investment management firm added 16,915 additional shares and now holds a total of 17,515 shares of Visa Inc which is valued at $1,455,847. Visa Inc makes up approx 0.09% of Cutler Group Lp’s portfolio.Eqis Capital Management boosted its stake in V in the latest quarter, The investment management firm added 906 additional shares and now holds a total of 8,002 shares of Visa Inc which is valued at $666,967. Visa Inc makes up approx 0.04% of Eqis Capital Management’s portfolio.

Visa Inc closed down -1.08 points or -1.30% at $82.04 with 62,27,356 shares getting traded on Tuesday. Post opening the session at $82.68, the shares hit an intraday low of $81.57 and an intraday high of $82.79 and the price fluctuated in this range throughout the day.Shares ended Tuesday 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 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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