Seven Eight Capital LP Raises Stock Holdings in Visa Inc. (NYSE:V)

Seven Eight Capital LP lifted its holdings in Visa Inc. (NYSE:V) by 9.2% in the second quarter, according to the company in its most recent filing with the SEC. The fund owned 23,708 shares of the credit-card processor’s stock after acquiring an additional 2,002 shares during the quarter. Visa accounts for about 0.6% of Seven Eight Capital LP’s holdings, making the stock its 7th biggest holding. Seven Eight Capital LP’s holdings in Visa were worth $6,223,000 at the end of the most recent quarter.

A number of other hedge funds have also recently made changes to their positions in V. Livelsberger Financial Advisory purchased a new position in Visa in the 4th quarter worth approximately $25,000. Westend Capital Management LLC bought a new stake in Visa in the 1st quarter worth $25,000. POM Investment Strategies LLC increased its position in shares of Visa by 970.0% in the second quarter. POM Investment Strategies LLC now owns 107 shares of the credit-card processor’s stock valued at $28,000 after acquiring an additional 97 shares during the period. Frank Rimerman Advisors LLC bought a new position in shares of Visa during the fourth quarter valued at about $33,000. Finally, TruNorth Capital Management LLC boosted its holdings in shares of Visa by 211.9% during the second quarter. TruNorth Capital Management LLC now owns 131 shares of the credit-card processor’s stock worth $34,000 after purchasing an additional 89 shares during the period. 82.15% of the stock is currently owned by institutional investors.

Visa Trading Up 0.4 %

Shares of NYSE V opened at $291.61 on Wednesday. The firm’s 50 day moving average price is $269.30 and its 200-day moving average price is $273.27. Visa Inc. has a 52-week low of $227.78 and a 52-week high of $293.07. The company has a debt-to-equity ratio of 0.54, a quick ratio of 1.37 and a current ratio of 1.37. The company has a market cap of $533.34 billion, a PE ratio of 32.58, a P/E/G ratio of 2.01 and a beta of 0.96.

Visa (NYSE:V) last released its quarterly earnings data on Tuesday, July 23rd. The credit-card processor reported $2.42 earnings per share (EPS) for the quarter, meeting the consensus estimate of $2.42. The business had revenue of $8.90 billion for the quarter, compared to analysts’ expectations of $8.92 billion. Visa had a return on equity of 51.94% and a net margin of 54.72%. The firm’s quarterly revenue was up 9.6% on a year-over-year basis. During the same period in the prior year, the firm posted $2.16 EPS. On average, equities research analysts expect that Visa Inc. will post 9.92 EPS for the current fiscal year.

Visa Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, September 3rd. Investors of record on Friday, August 9th were issued a $0.52 dividend. The ex-dividend date of this dividend was Friday, August 9th. This represents a $2.08 annualized dividend and a yield of 0.71%. Visa’s payout ratio is 23.24%.

Insiders Place Their Bets

In related news, CEO Ryan Mcinerney sold 8,620 shares of the stock in a transaction that occurred on Tuesday, September 3rd. The shares were sold at an average price of $276.37, for a total transaction of $2,382,309.40. Following the transaction, the chief executive officer now owns 538 shares in the company, valued at $148,687.06. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. 0.19% of the stock is owned by insiders.

Analyst Ratings Changes

A number of research analysts have commented on the company. Macquarie reaffirmed an “outperform” rating and set a $300.00 price target on shares of Visa in a research report on Wednesday, July 24th. Piper Sandler decreased their target price on Visa from $322.00 to $319.00 and set an “overweight” rating for the company in a report on Wednesday, July 24th. The Goldman Sachs Group reaffirmed a “buy” rating and issued a $317.00 price target on shares of Visa in a research note on Thursday, September 12th. Citigroup decreased their price objective on shares of Visa from $321.00 to $319.00 and set a “buy” rating for the company in a report on Wednesday, July 24th. Finally, BNP Paribas raised shares of Visa from a “neutral” rating to an “outperform” rating and set a $325.00 target price for the company in a research report on Tuesday, September 3rd. Six research analysts have rated the stock with a hold rating, twenty-four have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, Visa presently has a consensus rating of “Moderate Buy” and an average target price of $310.22.

Visa Company Profile

Visa Inc operates as a payment technology company in the United States and internationally. The company operates VisaNet, a transaction processing network that enables authorization, clearing, and settlement of payment transactions. It also offers credit, debit, and prepaid card products; tap to pay, tokenization, and click to pay services; Visa Direct, a solution that facilitates the delivery of funds to eligible cards, deposit accounts, and digital wallets; Visa B2B Connect, a multilateral business-to-business cross-border payments network; Visa Cross-Border Solution, a cross-border consumer payments solution; and Visa DPS that provides a range of value-added services, including fraud mitigation, dispute management, data analytics, campaign management, a suite of digital solutions, and contact center services.