Eastern Bank Lowers stake in Visa Inc (V)

Visa Inc (V) : Eastern Bank reduced its stake in Visa Inc by 0.06% during the most recent quarter end. The investment management company now holds a total of 218,856 shares of Visa Inc which is valued at $17,138,613 after selling 127 shares in Visa Inc , the firm said in a disclosure report filed with the SEC on Jul 15, 2016.Visa Inc makes up approximately 1.34% of Eastern Bank’s portfolio.

Other Hedge Funds, Including , Livforsakringsbolaget Skandia Omsesidigt boosted its stake in V in the latest quarter, The investment management firm added 13,300 additional shares and now holds a total of 204,992 shares of Visa Inc which is valued at $16,052,924. Visa Inc makes up approx 0.69% of Livforsakringsbolaget Skandia Omsesidigt’s portfolio.Partnerre Asset Management Corp reduced its stake in V by selling 100 shares or 0.76% in the most recent quarter. The Hedge Fund company now holds 12,977 shares of V which is valued at $1,016,229. Visa Inc makes up approx 0.51% of Partnerre Asset Management Corp’s portfolio.Vontobel Asset Management Inc reduced its stake in V by selling 314,307 shares or 6.18% in the most recent quarter. The Hedge Fund company now holds 4,774,281 shares of V which is valued at $369,815,806. Visa Inc makes up approx 3.02% of Vontobel Asset Management Inc’s portfolio.Searle reduced its stake in V by selling 18,690 shares or 82.01% in the most recent quarter. The Hedge Fund company now holds 4,100 shares of V which is valued at $317,586. Visa Inc makes up approx 3.15% of Searle’s portfolio.Bnp Paribas Arbitrage Sa reduced its stake in V by selling 417,110 shares or 36.27% in the most recent quarter. The Hedge Fund company now holds 733,000 shares of V which is valued at $56,015,860. Visa Inc makes up approx 0.25% of Bnp Paribas Arbitrage Sa’s portfolio.

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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