Burns J W Co Incny Lowers stake in Visa Inc (V)

Visa Inc (V) : Burns J W Co Incny reduced its stake in Visa Inc by 1.29% during the most recent quarter end. The investment management company now holds a total of 172,316 shares of Visa Inc which is valued at $14,362,539 after selling 2,249 shares in Visa Inc , the firm said in a disclosure report filed with the SEC on Oct 5, 2016.Visa Inc makes up approximately 4.45% of Burns J W Co Incny’s portfolio.

Other Hedge Funds, Including , Lenox Wealth Advisors boosted its stake in V in the latest quarter, The investment management firm added 60 additional shares and now holds a total of 180 shares of Visa Inc which is valued at $15,003.Norman Fields Gottscho Capital Management boosted its stake in V in the latest quarter, The investment management firm added 3,980 additional shares and now holds a total of 177,876 shares of Visa Inc which is valued at $14,825,965. Visa Inc makes up approx 9.87% of Norman Fields Gottscho Capital Management’s portfolio.West Oak Capital boosted its stake in V in the latest quarter, The investment management firm added 1,557 additional shares and now holds a total of 3,091 shares of Visa Inc which is valued at $257,635. Visa Inc makes up approx 0.18% of West Oak Capital’s portfolio.Washington Trust Bank boosted its stake in V in the latest quarter, The investment management firm added 1,910 additional shares and now holds a total of 7,574 shares of Visa Inc which is valued at $631,293. Visa Inc makes up approx 0.15% of Washington Trust Bank’s portfolio.Beacon Financial Group boosted its stake in V in the latest quarter, The investment management firm added 2,417 additional shares and now holds a total of 21,871 shares of Visa Inc which is valued at $1,822,948. Visa Inc makes up approx 0.38% of Beacon Financial Group’s portfolio.

Visa Inc closed down -0.13 points or -0.16% at $82.73 with 57,71,983 shares getting traded on Tuesday. Post opening the session at $83.28, the shares hit an intraday low of $82.58 and an intraday high of $83.53 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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