Welch Forbes buys $59,993,628 stake in Visa Inc (V)

Visa Inc (V) : Welch Forbes scooped up 18,323 additional shares in Visa Inc during the most recent quarter end , the firm said in a disclosure report filed with the SEC on Aug 2, 2016. The investment management firm now holds a total of 762,211 shares of Visa Inc which is valued at $59,993,628.Visa Inc makes up approximately 1.78% of Welch Forbes’s portfolio.

Other Hedge Funds, Including , World Asset Management Inc boosted its stake in V in the latest quarter, The investment management firm added 591 additional shares and now holds a total of 186,483 shares of Visa Inc which is valued at $14,678,077. Visa Inc makes up approx 0.55% of World Asset Management Inc’s portfolio.Ausdal Financial Partners reduced its stake in V by selling 488 shares or 10.47% in the most recent quarter. The Hedge Fund company now holds 4,171 shares of V which is valued at $325,547. Visa Inc makes up approx 0.16% of Ausdal Financial Partners’s portfolio.Traynor Capital Management boosted its stake in V in the latest quarter, The investment management firm added 501 additional shares and now holds a total of 8,189 shares of Visa Inc which is valued at $643,082. Visa Inc makes up approx 0.47% of Traynor Capital Management’s portfolio.Trust Co Of Oklahoma reduced its stake in V by selling 709 shares or 1.52% in the most recent quarter. The Hedge Fund company now holds 45,812 shares of V which is valued at $3,587,538. Visa Inc makes up approx 1.93% of Trust Co Of Oklahoma’s portfolio.Community Trust Investment Co boosted its stake in V in the latest quarter, The investment management firm added 6,185 additional shares and now holds a total of 204,365 shares of Visa Inc which is valued at $15,830,113. Visa Inc makes up approx 1.97% of Community Trust Investment Co’s portfolio.

Visa Inc closed down -0.19 points or -0.24% at $79.95 with 51,19,724 shares getting traded on Monday. Post opening the session at $80.23, the shares hit an intraday low of $79.8 and an intraday high of $80.34 and the price fluctuated in this range throughout the day.Shares ended Monday 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.

Investors should note that on Jul 19, 2016, Visa Inc announced a cash dividend of $0.1400. The company’s management has announced Aug 17, 2016 as the ex-dividend date and fixed the record date on Aug 19, 2016. The payable date has been fixed on Sep 6, 2016.

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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