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

Figure 8 Investment Strategies LLC boosted its position in Visa Inc. (NYSE:V) by 27.7% in the 2nd quarter, Holdings Channel reports. The fund owned 10,736 shares of the credit-card processor’s stock after purchasing an additional 2,332 shares during the period. Visa makes up about 3.2% of Figure 8 Investment Strategies LLC’s investment portfolio, making the stock its 7th biggest position. Figure 8 Investment Strategies LLC’s holdings in Visa were worth $3,683,000 at the end of the most recent reporting period.

Other institutional investors also recently bought and sold shares of the company. Parvin Asset Management LLC grew its position in shares of Visa by 200.0% in the third quarter. Parvin Asset Management LLC now owns 75 shares of the credit-card processor’s stock valued at $26,000 after purchasing an additional 50 shares during the period. Philadelphia Investment Partners LLC purchased a new position in Visa during the second quarter worth about $29,000. Virtus Advisers LLC purchased a new position in Visa during the second quarter worth about $33,000. RHL Group LLC acquired a new stake in Visa in the 4th quarter worth about $34,000. Finally, Timmons Wealth Management LLC acquired a new stake in Visa in the 4th quarter worth about $34,000. 82.15% of the stock is currently owned by institutional investors and hedge funds.

Visa Price Performance

V stock opened at $374.46 on Friday. The stock has a 50-day moving average price of $363.63 and a two-hundred day moving average price of $333.27. Visa Inc. has a 12-month low of $293.89 and a 12-month high of $385.57. 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 market cap of $668.20 billion, a PE ratio of 31.84, a price-to-earnings-growth ratio of 2.01 and a beta of 0.76.

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

Visa Announces Dividend

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

Insider Buying and Selling

In other Visa news, CEO Ryan Mcinerney sold 5,875 shares of the business’s stock in a transaction that occurred on Tuesday, September 1st. The shares were sold at an average price of $379.65, for a total transaction of $2,230,443.75. Following the completion of the sale, the chief executive officer directly owned 15,174 shares in the company, valued at $5,760,809.10. The trade was a 27.91% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Tullier Mahon sold 57,272 shares of the business’s stock in a transaction that occurred on Thursday, July 30th. The stock was sold at an average price of $364.97, for a total transaction of $20,902,561.84. Following the sale, the insider owned 49,662 shares of the company’s stock, valued at approximately $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 quarter, insiders sold 104,537 shares of company stock valued at $37,540,837. 0.12% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

V has been the subject of a number of research analyst reports. Truist Financial set a $406.00 price objective on shares of Visa and gave the company a “buy” rating in a research note on Wednesday, August 5th. Citigroup reiterated a “buy” rating and set a $440.00 price objective (up from $400.00) on shares of Visa in a report on Wednesday, July 29th. Wells Fargo & Company reissued an “overweight” rating and issued a $432.00 target price (up from $412.00) on shares of Visa in a research report on Thursday, July 30th. Cantor Fitzgerald set a $445.00 target price on shares of Visa and gave the company an “overweight” rating in a report on Monday, August 3rd. Finally, Barclays initiated coverage on shares of Visa in a research report on Tuesday, July 7th. They set an “overweight” rating and a $420.00 price target for the company. Seven research analysts have rated the stock with a Strong Buy rating and twenty-four have given a Buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Buy” and an average target price of $416.62.

About Visa

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.