Zweig DiMenna Associates LLC Purchases 13,600 Shares of Visa Inc. $V

Zweig DiMenna Associates LLC increased its position in Visa Inc. (NYSE:VFree Report) by 32.5% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 55,397 shares of the credit-card processor’s stock after purchasing an additional 13,600 shares during the quarter. Visa makes up 1.2% of Zweig DiMenna Associates LLC’s holdings, making the stock its 21st largest position. Zweig DiMenna Associates LLC’s holdings in Visa were worth $19,428,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently modified their holdings of the company. Fort Sheridan Advisors LLC raised its holdings in shares of Visa by 0.7% in the 4th quarter. Fort Sheridan Advisors LLC now owns 22,962 shares of the credit-card processor’s stock valued at $8,053,000 after purchasing an additional 158 shares during the period. Hilltop Partners LLC raised its holdings in shares of Visa by 24.8% in the 4th quarter. Hilltop Partners LLC now owns 11,137 shares of the credit-card processor’s stock valued at $3,906,000 after purchasing an additional 2,212 shares during the period. Eurizon SLJ Capital Ltd bought a new stake in shares of Visa in the 4th quarter valued at about $12,383,000. Coyle Financial Counsel LLC raised its holdings in shares of Visa by 30.1% in the 4th quarter. Coyle Financial Counsel LLC now owns 1,514 shares of the credit-card processor’s stock valued at $531,000 after purchasing an additional 350 shares during the period. Finally, Cornerstone Select Advisors LLC raised its holdings in shares of Visa by 1.6% in the 4th quarter. Cornerstone Select Advisors LLC now owns 3,774 shares of the credit-card processor’s stock valued at $1,324,000 after purchasing an additional 60 shares during the period. 82.15% of the stock is owned by institutional investors.

Insider Transactions at Visa

In other news, Director Lloyd Carney sold 650 shares of the firm’s stock in a transaction that occurred on Wednesday, March 11th. The shares were sold at an average price of $309.62, for a total transaction of $201,253.00. Following the transaction, the director directly owned 2,679 shares of the company’s stock, valued at approximately $829,471.98. This trade represents a 19.53% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Ryan Mcinerney sold 31,455 shares of the firm’s stock in a transaction that occurred on Wednesday, April 29th. The stock was sold at an average price of $340.14, for a total transaction of $10,699,103.70. Following the transaction, the chief executive officer directly owned 15,174 shares in the company, valued at $5,161,284.36. This represents a 67.46% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last ninety days, insiders have sold 42,744 shares of company stock valued at $14,356,010. 0.12% of the stock is currently owned by company insiders.

Key Stories Impacting Visa

Here are the key news stories impacting Visa this week:

Wall Street Analyst Weigh In

A number of equities research analysts have recently issued reports on V shares. Loop Capital started coverage on shares of Visa in a report on Tuesday, March 31st. They issued a “buy” rating and a $387.00 target price on the stock. UBS Group upped their target price on shares of Visa from $390.00 to $410.00 and gave the company a “buy” rating in a report on Wednesday, April 29th. Weiss Ratings downgraded shares of Visa from a “buy (b-)” rating to a “hold (c+)” rating in a research report on Thursday, April 16th. Cantor Fitzgerald restated an “overweight” rating and set a $400.00 price objective on shares of Visa in a research report on Wednesday, April 29th. Finally, Oppenheimer restated an “outperform” rating and set a $403.00 price objective (up from $391.00) on shares of Visa in a research report on Wednesday, April 29th. Six research analysts have rated the stock with a Strong Buy rating, seventeen have given a Buy rating and three have given a Hold rating to the company’s stock. According to data from MarketBeat, Visa has a consensus rating of “Buy” and an average target price of $386.70.

View Our Latest Stock Analysis on Visa

Visa Trading Up 0.8%

Shares of V stock opened at $327.68 on Friday. The firm has a 50 day moving average price of $314.87 and a two-hundred day moving average price of $325.05. The company has a quick ratio of 1.09, a current ratio of 1.09 and a debt-to-equity ratio of 0.64. The company has a market capitalization of $587.78 billion, a PE ratio of 28.54, a price-to-earnings-growth ratio of 1.74 and a beta of 0.78. Visa Inc. has a 12-month low of $293.89 and a 12-month high of $375.51.

Visa (NYSE:VGet Free Report) last issued its quarterly earnings data on Tuesday, April 28th. The credit-card processor reported $3.31 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.10 by $0.21. The firm had revenue of $11.23 billion during the quarter, compared to the consensus estimate of $10.75 billion. Visa had a net margin of 51.68% and a return on equity of 65.00%. The business’s revenue for the quarter was up 17.1% compared to the same quarter last year. During the same period last year, the business posted $2.76 earnings per share. As a group, analysts predict that Visa Inc. will post 13.09 earnings per share for the current year.

Visa declared that its Board of Directors has approved a stock buyback program on Tuesday, April 28th that allows the company to buyback $20.00 billion in outstanding shares. This buyback authorization allows the credit-card processor to purchase up to 3.6% of its shares through open market purchases. Shares buyback programs are typically a sign that the company’s management believes its shares are undervalued.

Visa Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, June 1st. Shareholders of record on Tuesday, May 12th will be given a dividend of $0.67 per share. The ex-dividend date is Tuesday, May 12th. This represents a $2.68 annualized dividend and a yield of 0.8%. Visa’s dividend payout ratio (DPR) is 23.34%.

Visa Company Profile

(Free Report)

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.

See Also

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Institutional Ownership by Quarter for Visa (NYSE:V)

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