Visa Inc. $V Shares Bought by Zweig DiMenna Associates LLC

Zweig DiMenna Associates LLC boosted its holdings in shares of Visa Inc. (NYSE:V) by 6.7% during the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 48,097 shares of the credit-card processor’s stock after buying an additional 3,000 shares during the quarter. Visa accounts for 1.6% of Zweig DiMenna Associates LLC’s investment portfolio, making the stock its 16th largest position. Zweig DiMenna Associates LLC’s holdings in Visa were worth $17,077,000 as of its most recent SEC filing.

Other hedge funds also recently added to or reduced their stakes in the company. Keystone Global Partners LLC acquired a new stake in Visa during the 1st quarter worth approximately $26,000. von Borstel & Associates Inc. acquired a new stake in Visa during the 1st quarter worth approximately $27,000. Family Legacy Financial Solutions LLC acquired a new stake in Visa during the 2nd quarter worth approximately $28,000. Harbor Asset Planning Inc. acquired a new stake in Visa during the 2nd quarter worth approximately $29,000. Finally, Cranbrook Wealth Management LLC lifted its holdings in Visa by 82.0% during the 2nd quarter. Cranbrook Wealth Management LLC now owns 91 shares of the credit-card processor’s stock worth $32,000 after buying an additional 41 shares in the last quarter. 82.15% of the stock is currently owned by institutional investors and hedge funds.

Visa Price Performance

Shares of NYSE:V opened at $336.74 on Tuesday. The company’s fifty day moving average price is $344.54 and its 200 day moving average price is $348.57. Visa Inc. has a 12 month low of $290.76 and a 12 month high of $375.51. The company has a debt-to-equity ratio of 0.53, a current ratio of 1.08 and a quick ratio of 1.12. The firm has a market capitalization of $617.17 billion, a P/E ratio of 32.98, a P/E/G ratio of 2.03 and a beta of 0.87.

Visa (NYSE:V) last announced its quarterly earnings results on Tuesday, October 28th. The credit-card processor reported $2.98 EPS for the quarter, topping the consensus estimate of $2.97 by $0.01. Visa had a net margin of 50.15% and a return on equity of 60.31%. The firm had revenue of $10.72 billion for the quarter, compared to analyst estimates of $10.60 billion. During the same period last year, the business earned $2.71 EPS. Visa’s revenue for the quarter was up 11.5% compared to the same quarter last year. As a group, sell-side analysts predict that Visa Inc. will post 11.3 earnings per share for the current fiscal year.

Visa Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, December 1st. Investors of record on Wednesday, November 12th will be paid a dividend of $0.67 per share. The ex-dividend date is Wednesday, November 12th. This represents a $2.68 annualized dividend and a yield of 0.8%. This is an increase from Visa’s previous quarterly dividend of $0.59. Visa’s dividend payout ratio (DPR) is 23.11%.

Wall Street Analyst Weigh In

V has been the topic of a number of research reports. Raymond James Financial reiterated an “outperform” rating and set a $408.00 target price (up from $398.00) on shares of Visa in a report on Wednesday, October 29th. Deutsche Bank Aktiengesellschaft assumed coverage on shares of Visa in a report on Thursday, July 17th. They issued a “buy” rating and a $410.00 price objective on the stock. Robert W. Baird set a $425.00 price objective on shares of Visa in a report on Wednesday, October 29th. Macquarie reduced their price objective on shares of Visa from $425.00 to $410.00 and set an “outperform” rating on the stock in a report on Wednesday, October 29th. Finally, KeyCorp restated an “overweight” rating and issued a $405.00 price objective on shares of Visa in a report on Wednesday, October 22nd. Four equities research analysts have rated the stock with a Strong Buy rating, seventeen have given a Buy rating and five have issued a Hold rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $400.00.

Insider Buying and Selling at Visa

In related news, General Counsel Julie B. Rottenberg sold 2,027 shares of Visa stock in a transaction on Monday, August 18th. The shares were sold at an average price of $344.02, for a total transaction of $697,328.54. Following the sale, the general counsel directly owned 11,925 shares in the company, valued at $4,102,438.50. This trade represents a 14.53% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Ryan Mcinerney sold 10,485 shares of Visa stock in a transaction on Wednesday, October 1st. The stock was sold at an average price of $342.30, for a total transaction of $3,589,015.50. Following the sale, the chief executive officer owned 537 shares in the company, valued at $183,815.10. This represents a 95.13% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. 0.13% of the stock is owned by company insiders.

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.