Zweig DiMenna Associates LLC Has $14.27 Million Holdings in Visa Inc. $V

Zweig DiMenna Associates LLC decreased its position in Visa Inc. (NYSE:V) by 13.1% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 41,797 shares of the credit-card processor’s stock after selling 6,300 shares during the quarter. Zweig DiMenna Associates LLC’s holdings in Visa were worth $14,269,000 as of its most recent SEC filing.

A number of other large investors also recently made changes to their positions in V. Harbor Asset Planning Inc. acquired a new stake in shares of Visa during the second quarter worth $29,000. Sagard Holdings Management Inc. bought a new position in Visa during the second quarter worth about $31,000. Bare Financial Services Inc increased its position in Visa by 287.0% during the second quarter. Bare Financial Services Inc now owns 89 shares of the credit-card processor’s stock worth $32,000 after acquiring an additional 66 shares during the period. Hoese & Co LLP acquired a new stake in Visa in the 2nd quarter worth about $36,000. Finally, Quaker Wealth Management LLC boosted its holdings in Visa by 202.7% in the 2nd quarter. Quaker Wealth Management LLC now owns 114 shares of the credit-card processor’s stock valued at $40,000 after purchasing an additional 225 shares during the period. Institutional investors own 82.15% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages recently issued reports on V. Royal Bank Of Canada reiterated an “outperform” rating and issued a $395.00 price target on shares of Visa in a research note on Friday, January 30th. TD Cowen restated a “buy” rating on shares of Visa in a research report on Friday, January 30th. Robert W. Baird set a $425.00 price target on Visa in a research note on Wednesday, October 29th. KeyCorp reiterated an “overweight” rating and set a $405.00 price objective on shares of Visa in a research note on Wednesday, October 22nd. Finally, Bank of America raised shares of Visa from a “neutral” rating to a “buy” rating and set a $382.00 price target for the company in a report on Thursday, December 11th. Six analysts have rated the stock with a Strong Buy rating, twenty-one have given a Buy rating and three have given a Hold rating to the company’s stock. According to MarketBeat, Visa has an average rating of “Buy” and a consensus price target of $392.21.

Visa Trading Down 3.1%

Shares of Visa stock opened at $314.13 on Tuesday. The firm’s 50 day moving average is $337.74 and its 200 day moving average is $339.51. The firm has a market capitalization of $570.19 billion, a PE ratio of 29.47, a price-to-earnings-growth ratio of 1.80 and a beta of 0.79. Visa Inc. has a 1 year low of $299.00 and a 1 year high of $375.51. The company has a current ratio of 1.11, a quick ratio of 1.11 and a debt-to-equity ratio of 0.51.

Visa (NYSE:V) last issued its quarterly earnings data on Thursday, January 29th. The credit-card processor reported $3.17 EPS for the quarter, beating the consensus estimate of $3.14 by $0.03. The business had revenue of $10.90 billion during the quarter, compared to the consensus estimate of $10.69 billion. Visa had a net margin of 50.23% and a return on equity of 61.74%. The firm’s revenue was up 14.6% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $2.75 EPS. Equities research analysts forecast that Visa Inc. will post 11.3 earnings per share for the current fiscal year.

Visa Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, March 2nd. Investors of record on Tuesday, February 10th will be given a dividend of $0.67 per share. The ex-dividend date is Tuesday, February 10th. This represents a $2.68 dividend on an annualized basis and a yield of 0.9%. Visa’s payout ratio is currently 25.14%.

Insider Transactions at Visa

In other news, insider Paul D. Fabara sold 2,172 shares of the company’s stock in a transaction that occurred on Friday, November 21st. The stock was sold at an average price of $325.93, for a total value of $707,919.96. Following the completion of the transaction, the insider owned 26,413 shares of the company’s stock, valued at $8,608,789.09. This represents a 7.60% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, CEO Ryan Mcinerney sold 10,485 shares of Visa stock in a transaction that occurred on Friday, January 2nd. The stock was sold at an average price of $349.18, for a total transaction of $3,661,152.30. Following the sale, the chief executive officer owned 9,401 shares in the company, valued at approximately $3,282,641.18. This represents a 52.73% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. 0.12% of the stock is owned by corporate insiders.

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.