Seven Eight Capital LP Has $6.22 Million Stock Holdings in Visa Inc. (NYSE:V)

Seven Eight Capital LP lifted its position in Visa Inc. (NYSE:V - Free Report) by 9.2% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. 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 approximately 0.6% of Seven Eight Capital LP's holdings, making the stock its 7th largest position. Seven Eight Capital LP's holdings in Visa were worth $6,223,000 at the end of the most recent quarter.

Other institutional investors have also made changes to their positions in the company. Vanguard Group Inc. boosted its stake in Visa by 0.6% in the first quarter. Vanguard Group Inc. now owns 142,202,830 shares of the credit-card processor's stock valued at $39,685,966,000 after acquiring an additional 788,908 shares during the period. Capital International Investors boosted its position in Visa by 2.7% during the 1st quarter. Capital International Investors now owns 23,570,391 shares of the credit-card processor's stock valued at $6,578,025,000 after purchasing an additional 626,618 shares during the period. Capital World Investors grew its stake in Visa by 5.4% during the 1st quarter. Capital World Investors now owns 18,863,796 shares of the credit-card processor's stock worth $5,264,508,000 after buying an additional 968,008 shares during the last quarter. Fisher Asset Management LLC increased its position in Visa by 1.9% in the fourth quarter. Fisher Asset Management LLC now owns 8,900,179 shares of the credit-card processor's stock worth $2,317,162,000 after buying an additional 166,767 shares during the period. Finally, Ninety One UK Ltd boosted its holdings in shares of Visa by 0.7% during the second quarter. Ninety One UK Ltd now owns 7,867,958 shares of the credit-card processor's stock valued at $2,065,103,000 after acquiring an additional 55,437 shares during the period. 82.15% of the stock is currently owned by institutional investors.

Visa Stock Down 1.1 %

NYSE:V traded down $3.10 during trading hours on Wednesday, hitting $288.46. 5,887,261 shares of the company's stock traded hands, compared to its average volume of 7,071,243. The stock's fifty day moving average price is $269.81 and its two-hundred day moving average price is $273.38. The firm has a market cap of $525.66 billion, a P/E ratio of 32.23, a P/E/G ratio of 2.05 and a beta of 0.96. The company has a debt-to-equity ratio of 0.54, a quick ratio of 1.37 and a current ratio of 1.37. Visa Inc. has a twelve month low of $227.78 and a twelve month high of $293.07.

Visa (NYSE:V - Get Free Report) last issued its earnings results on Tuesday, July 23rd. The credit-card processor reported $2.42 earnings per share for the quarter, meeting analysts' consensus estimates of $2.42. The company had revenue of $8.90 billion for the quarter, compared to the consensus estimate 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 quarter in the prior year, the company earned $2.16 EPS. On average, research analysts expect that Visa Inc. will post 9.92 earnings per share for the current fiscal year.

Visa Announces Dividend

The business also recently announced 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 0.72%. The ex-dividend date of this dividend was Friday, August 9th. Visa's dividend payout ratio (DPR) is currently 23.24%.

Insider Activity

In other Visa news, CEO Ryan Mcinerney sold 8,620 shares of the company's 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 transaction, the chief executive officer now directly owns 538 shares of the company's stock, valued at approximately $148,687.06. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. 0.19% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

Several analysts recently weighed in on V shares. Piper Sandler cut their price objective on shares of Visa from $322.00 to $319.00 and set an "overweight" rating on the stock in a research report on Wednesday, July 24th. JPMorgan Chase & Co. boosted their price objective on Visa from $290.00 to $320.00 and gave the stock an "overweight" rating in a research report on Tuesday, August 20th. The Goldman Sachs Group restated a "buy" rating and issued a $317.00 target price on shares of Visa in a research report on Thursday, September 12th. Bank of America boosted their price target on Visa from $279.00 to $308.00 and gave the stock a "neutral" rating in a research report on Tuesday. Finally, Royal Bank of Canada lowered their price target on Visa from $315.00 to $311.00 and set an "outperform" rating on the stock in a report on Wednesday, July 24th. Six analysts have rated the stock with a hold rating, twenty-four have assigned a buy rating and one has assigned a strong buy rating to the company's stock. According to data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average target price of $310.22.

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.