Figure 8 Investment Strategies LLC Acquires 2,332 Shares of Visa Inc. $V

Figure 8 Investment Strategies LLC boosted its holdings in Visa Inc. (NYSE:V) by 27.7% in the 2nd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 10,736 shares of the credit-card processor’s stock after acquiring an additional 2,332 shares during the quarter. Visa comprises approximately 3.2% of Figure 8 Investment Strategies LLC’s portfolio, making the stock its 7th biggest holding. Figure 8 Investment Strategies LLC’s holdings in Visa were worth $3,683,000 as of its most recent SEC filing.

Other large investors have also recently bought and sold shares of the company. XXEC Inc. boosted its holdings in Visa by 153,118.8% during the second quarter. XXEC Inc. now owns 186,260,448 shares of the credit-card processor’s stock worth $63,904,097,000 after buying an additional 186,138,883 shares in the last quarter. State Street Corp grew its position in Visa by 0.8% during the fourth quarter. State Street Corp now owns 82,798,151 shares of the credit-card processor’s stock worth $29,038,140,000 after buying an additional 626,821 shares during the period. Geode Capital Management LLC increased its holdings in Visa by 0.9% in the fourth quarter. Geode Capital Management LLC now owns 44,042,586 shares of the credit-card processor’s stock valued at $15,411,395,000 after buying an additional 388,996 shares in the last quarter. Price T Rowe Associates Inc. MD increased its holdings in Visa by 1.8% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 41,092,294 shares of the credit-card processor’s stock valued at $14,411,480,000 after buying an additional 716,218 shares in the last quarter. Finally, Bank of America Corp DE lifted its position in shares of Visa by 1.7% during the 4th quarter. Bank of America Corp DE now owns 23,835,336 shares of the credit-card processor’s stock valued at $8,359,291,000 after acquiring an additional 398,459 shares during the period. Hedge funds and other institutional investors own 82.15% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts have recently commented on the company. Wolfe Research reissued an “outperform” rating and set a $460.00 price target (up from $435.00) on shares of Visa in a research note on Tuesday, August 25th. Truist Financial set a $406.00 price objective on Visa and gave the company a “buy” rating in a research note on Wednesday, August 5th. Cantor Fitzgerald set a $445.00 price objective on Visa and gave the stock an “overweight” rating in a report on Monday, August 3rd. Barclays began coverage on Visa in a research report on Tuesday, July 7th. They set an “overweight” rating and a $420.00 target price on the stock. Finally, BNP Paribas Exane raised Visa to a “strong-buy” rating in a report on Tuesday, July 21st. Seven analysts have rated the stock with a Strong Buy rating and twenty-four have issued a Buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Buy” and an average price target of $416.62.

Visa Stock Performance

Shares of V opened at $374.46 on Friday. Visa Inc. has a 12-month low of $293.89 and a 12-month high of $385.57. The stock has a market cap of $668.20 billion, a P/E ratio of 31.84, a PEG ratio of 2.01 and a beta of 0.76. The company has a current ratio of 0.99, a quick ratio of 0.99 and a debt-to-equity ratio of 0.60. The company has a 50-day moving average of $363.63 and a two-hundred day moving average of $333.27.

Visa (NYSE:V) last released its quarterly earnings results on Tuesday, July 28th. The credit-card processor reported $3.32 EPS for the quarter, beating the consensus estimate of $3.23 by $0.09. Visa had a net margin of 50.78% and a return on equity of 67.68%. The business had revenue of $11.63 billion for the quarter, compared to analyst estimates of $11.40 billion. During the same period in the prior year, the business earned $2.98 earnings per share. The company’s quarterly revenue was up 14.4% on a year-over-year basis. As a group, research analysts predict that Visa Inc. will post 13.16 EPS for the current fiscal year.

Visa Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Tuesday, September 1st. Investors of record on Tuesday, August 11th were paid a $0.67 dividend. The ex-dividend date of this dividend was Tuesday, August 11th. This represents a $2.68 dividend on an annualized basis and a yield of 0.7%. Visa’s dividend payout ratio is presently 22.79%.

Insider Buying and Selling at Visa

In other news, General Counsel Julie B. Rottenberg sold 2,028 shares of the business’s stock in a transaction on Monday, August 31st. The stock was sold at an average price of $381.35, for a total value of $773,377.80. Following the completion of the transaction, the general counsel directly owned 18,404 shares of the company’s stock, valued at $7,018,365.40. The trade was a 9.93% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Tullier Mahon sold 57,272 shares of the company’s stock in a transaction on Thursday, July 30th. The shares were sold at an average price of $364.97, for a total value of $20,902,561.84. Following the completion of the sale, the insider owned 49,662 shares in the company, valued at $18,125,140.14. This represents a 53.56% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last 90 days, insiders have sold 104,537 shares of company stock worth $37,540,837. 0.12% of the stock is owned by insiders.

Visa Profile

Visa Inc is a global payments technology company that facilitates electronic funds transfers and digital commerce by connecting consumers, merchants, financial institutions and governments. The firm operates one of the world’s largest payment networks, providing processing, authorization, clearing and settlement services for credit, debit and prepaid card transactions. Visa’s network-based model enables partner banks and other issuers to offer branded payment products while Visa focuses on the infrastructure, standards and technologies that move money securely and efficiently around the world.

Visa’s product and service portfolio includes card-based payment products for consumers and businesses, real-time push-payment capabilities, tokenization and authentication services, fraud and risk-management tools, data analytics and APIs for fintech and merchant integration.