Zweig DiMenna Associates LLC Sells 6,300 Shares of Visa Inc. $V

Zweig DiMenna Associates LLC cut its stake in shares of Visa Inc. (NYSE:V) by 13.1% during the 3rd quarter, Holdings Channel reports. The institutional investor 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 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently made changes to their positions in the stock. Sonoma Allocations LLC acquired a new position in Visa in the third quarter valued at $710,000. AQR Capital Management LLC raised its position in shares of Visa by 1.8% in the 2nd quarter. AQR Capital Management LLC now owns 1,241,348 shares of the credit-card processor’s stock worth $438,196,000 after acquiring an additional 21,401 shares in the last quarter. Baltimore Washington Financial Advisors Inc. lifted its stake in shares of Visa by 5.9% in the 2nd quarter. Baltimore Washington Financial Advisors Inc. now owns 95,150 shares of the credit-card processor’s stock valued at $33,783,000 after purchasing an additional 5,295 shares during the period. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA boosted its position in shares of Visa by 2.6% during the 3rd quarter. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA now owns 574,043 shares of the credit-card processor’s stock valued at $198,596,000 after purchasing an additional 14,581 shares in the last quarter. Finally, Federated Hermes Inc. increased its holdings in Visa by 24.1% in the third quarter. Federated Hermes Inc. now owns 823,262 shares of the credit-card processor’s stock worth $281,045,000 after purchasing an additional 159,906 shares in the last quarter. Institutional investors and hedge funds own 82.15% of the company’s stock.

Visa Trading Down 3.1%

V opened at $314.13 on Tuesday. The firm has a market capitalization of $570.19 billion, a PE ratio of 29.47, a P/E/G ratio of 1.80 and a beta of 0.79. The company has a debt-to-equity ratio of 0.51, a current ratio of 1.11 and a quick ratio of 1.11. Visa Inc. has a fifty-two week low of $299.00 and a fifty-two week high of $375.51. The company’s 50-day moving average is $337.74 and its 200 day moving average is $339.51.

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

Visa Announces Dividend

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

Analyst Ratings Changes

A number of equities analysts have issued reports on V shares. Weiss Ratings restated a “buy (b)” rating on shares of Visa in a report on Wednesday, January 21st. Rothschild & Co Redburn set a $385.00 price target on shares of Visa in a report on Wednesday, January 28th. TD Cowen reiterated a “buy” rating on shares of Visa in a report on Friday, January 30th. Evercore set a $380.00 target price on Visa in a research note on Friday, December 12th. Finally, Daiwa America raised Visa from a “hold” rating to a “strong-buy” rating in a research report on Monday, February 2nd. Six research analysts have rated the stock with a Strong Buy rating, twenty-one have assigned a Buy rating and three have assigned a Hold rating to the company. Based on data from MarketBeat, the stock has an average rating of “Buy” and a consensus price target of $392.21.

Insider Buying and Selling 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 directly 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 legal filing with the SEC, which is available at this hyperlink. Also, CEO Ryan Mcinerney sold 10,485 shares of Visa stock in a transaction on Friday, January 2nd. The stock was sold at an average price of $349.18, for a total value of $3,661,152.30. Following the sale, the chief executive officer owned 9,401 shares in the company, valued at $3,282,641.18. This trade represents a 52.73% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Corporate insiders own 0.12% of the company’s stock.

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.