Visa Inc. (NYSE:V) is Seven Eight Capital LP’s 7th Largest Position

Seven Eight Capital LP increased its holdings in Visa Inc. (NYSE:V) by 9.2% during the second quarter, HoldingsChannel.com reports. The institutional investor owned 23,708 shares of the credit-card processor’s stock after acquiring an additional 2,002 shares during the quarter. Visa accounts for 0.6% of Seven Eight Capital LP’s portfolio, making the stock its 7th largest position. Seven Eight Capital LP’s holdings in Visa were worth $6,223,000 as of its most recent SEC filing.

Several other large investors also recently added to or reduced their stakes in V. Alaethes Wealth LLC increased its stake in shares of Visa by 0.4% in the 4th quarter. Alaethes Wealth LLC now owns 8,843 shares of the credit-card processor’s stock worth $2,302,000 after acquiring an additional 37 shares during the last quarter. Jessup Wealth Management Inc raised its stake in Visa by 0.7% during the first quarter. Jessup Wealth Management Inc now owns 5,051 shares of the credit-card processor’s stock worth $1,410,000 after purchasing an additional 37 shares during the period. Long Run Wealth Advisors LLC boosted its holdings in Visa by 2.5% in the 1st quarter. Long Run Wealth Advisors LLC now owns 1,519 shares of the credit-card processor’s stock valued at $424,000 after purchasing an additional 37 shares during the last quarter. Cordatus Wealth Management LLC boosted its holdings in Visa by 0.3% in the 1st quarter. Cordatus Wealth Management LLC now owns 10,793 shares of the credit-card processor’s stock valued at $3,012,000 after purchasing an additional 37 shares during the last quarter. Finally, Garden State Investment Advisory Services LLC increased its holdings in shares of Visa by 1.8% during the 4th quarter. Garden State Investment Advisory Services LLC now owns 2,191 shares of the credit-card processor’s stock worth $571,000 after buying an additional 38 shares during the last quarter. 82.15% of the stock is currently owned by institutional investors.

Insider Transactions at Visa

In other Visa news, CEO Ryan Mcinerney sold 8,620 shares of Visa stock in a transaction dated Tuesday, September 3rd. The stock was sold at an average price of $276.37, for a total value of $2,382,309.40. Following the completion of the sale, the chief executive officer now owns 538 shares in the company, valued at approximately $148,687.06. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 0.19% of the company’s stock.

Analyst Ratings Changes

Several research firms have commented on V. Evercore ISI lowered their price target on shares of Visa from $335.00 to $330.00 and set an “outperform” rating for the company in a report on Tuesday, June 25th. Bank of America increased their target price on Visa from $279.00 to $308.00 and gave the company a “neutral” rating in a report on Tuesday. Macquarie reaffirmed an “outperform” rating and set a $300.00 price target on shares of Visa in a report on Wednesday, July 24th. Compass Point assumed coverage on Visa in a report on Wednesday, September 4th. They issued a “buy” rating and a $319.00 price objective on the stock. Finally, Piper Sandler decreased their target price on Visa from $322.00 to $319.00 and set an “overweight” rating for the company in a research note on Wednesday, July 24th. Six research analysts have rated the stock with a hold rating, twenty-four have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $310.22.

Visa Trading Up 0.4 %

Shares of V stock opened at $291.61 on Wednesday. The company has a market capitalization of $533.34 billion, a price-to-earnings ratio of 32.58, a PEG ratio of 2.01 and a beta of 0.96. The company has a current ratio of 1.37, a quick ratio of 1.37 and a debt-to-equity ratio of 0.54. The firm has a 50-day moving average price of $269.30 and a 200 day moving average price of $273.27. Visa Inc. has a twelve month low of $227.78 and a twelve month high of $293.07.

Visa (NYSE:V) last posted its quarterly earnings data on Tuesday, July 23rd. The credit-card processor reported $2.42 earnings per share for the quarter, meeting analysts’ consensus estimates of $2.42. Visa had a net margin of 54.72% and a return on equity of 51.94%. The business had revenue of $8.90 billion during the quarter, compared to analyst estimates of $8.92 billion. During the same quarter in the previous year, the business posted $2.16 earnings per share. The company’s revenue was up 9.6% on a year-over-year basis. Research analysts forecast that Visa Inc. will post 9.92 earnings per share for the current fiscal year.

Visa Dividend Announcement

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

Visa 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.