Rafferty Asset Management Lowers stake in Visa Inc (V)

Visa Inc (V) : Rafferty Asset Management reduced its stake in Visa Inc by 20.26% during the most recent quarter end. The investment management company now holds a total of 205,980 shares of Visa Inc which is valued at $16,503,118 after selling 52,321 shares in Visa Inc , the firm said in a disclosure report filed with the SEC on Aug 9, 2016.Visa Inc makes up approximately 1.04% of Rafferty Asset Management’s portfolio.

Other Hedge Funds, Including , Bradley Foster Sargent Incct reduced its stake in V by selling 300 shares or 1.17% in the most recent quarter. The Hedge Fund company now holds 25,276 shares of V which is valued at $2,020,816. Visa Inc makes up approx 0.09% of Bradley Foster Sargent Incct’s portfolio.Norinchukin Bank The boosted its stake in V in the latest quarter, The investment management firm added 23,531 additional shares and now holds a total of 560,370 shares of Visa Inc which is valued at $44,896,844. Visa Inc makes up approx 1.05% of Norinchukin Bank The’s portfolio.Baldwin Investment Management reduced its stake in V by selling 2,322 shares or 8.0% in the most recent quarter. The Hedge Fund company now holds 26,712 shares of V which is valued at $2,102,502. Visa Inc makes up approx 0.90% of Baldwin Investment Management’s portfolio.

Visa Inc opened for trading at $80.71 and hit $80.865 on the upside on Wednesday, eventually ending the session at $80.84, with a gain of 0.21% or 0.17 points. The heightened volatility saw the trading volume jump to 46,55,396 shares. Company has a market cap of $173,755 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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