Renaissance Investment Group buys $4,082,448 stake in Visa Inc (V)

Visa Inc (V) : Renaissance Investment Group scooped up 1,920 additional shares in Visa Inc during the most recent quarter end , the firm said in a disclosure report filed with the SEC on Oct 13, 2016. The investment management firm now holds a total of 49,865 shares of Visa Inc which is valued at $4,082,448.Visa Inc makes up approximately 1.99% of Renaissance Investment Group’s portfolio.

Other Hedge Funds, Including , Vontobel Asset Management Inc reduced its stake in V by selling 238,282 shares or 4.99% in the most recent quarter. The Hedge Fund company now holds 4,535,999 shares of V which is valued at $377,032,237. Visa Inc makes up approx 2.99% of Vontobel Asset Management Inc’s portfolio.Gradient Investments boosted its stake in V in the latest quarter, The investment management firm added 58 additional shares and now holds a total of 7,382 shares of Visa Inc which is valued at $613,592. Visa Inc makes up approx 0.06% of Gradient Investments’s portfolio.Central Bank Trust Co reduced its stake in V by selling 3,474 shares or 3.1% in the most recent quarter. The Hedge Fund company now holds 108,667 shares of V which is valued at $9,006,321. Visa Inc makes up approx 2.56% of Central Bank Trust Co’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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