Seven Eight Capital adds Visa Inc (V) to its portfolio

Visa Inc (V) : Seven Eight Capital added new position in Visa Inc during the most recent quarter end. The investment management firm now holds 40,232 shares of Visa Inc which is valued at $3,219,365 , the company said in a statement filed on Aug 12, 2016 with the SEC.Visa Inc makes up approximately 1.06% of Seven Eight Capital’s portfolio.

Other Hedge Funds, Including , Reilly Financial Advisors boosted its stake in V in the latest quarter, The investment management firm added 1,680 additional shares and now holds a total of 14,848 shares of Visa Inc which is valued at $1,168,686. Visa Inc makes up approx 0.21% of Reilly Financial Advisors’s portfolio.Welch Forbes boosted its stake in V in the latest quarter, The investment management firm added 18,323 additional shares and now holds a total of 762,211 shares of Visa Inc which is valued at $59,993,628. Visa Inc makes up approx 1.78% of Welch Forbes’s portfolio.Cortland Associates Incmo reduced its stake in V by selling 3,413 shares or 0.55% in the most recent quarter. The Hedge Fund company now holds 611,676 shares of V which is valued at $48,034,916. Visa Inc makes up approx 10.54% of Cortland Associates Incmo’s portfolio.Lasalle Street Capital Management boosted its stake in V in the latest quarter, The investment management firm added 4,577 additional shares and now holds a total of 31,377 shares of Visa Inc which is valued at $2,490,079. Visa Inc makes up approx 2.30% of Lasalle Street Capital Management’s portfolio.

Visa Inc opened for trading at $80.54 and hit $80.99 on the upside on Monday, eventually ending the session at $80.87, with a gain of 0.37% or 0.3 points. The heightened volatility saw the trading volume jump to 47,66,662 shares. Company has a market cap of $173,820 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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