Zweig DiMenna Associates LLC Sells 10,667 Shares of Visa Inc. (NYSE:V)

Zweig DiMenna Associates LLC lowered its position in shares of Visa Inc. (NYSE:V) by 18.5% during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 47,130 shares of the credit-card processor’s stock after selling 10,667 shares during the period. Visa accounts for approximately 1.4% of Zweig DiMenna Associates LLC’s investment portfolio, making the stock its 27th biggest holding. Zweig DiMenna Associates LLC’s holdings in Visa were worth $12,370,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in the company. Livelsberger Financial Advisory acquired a new position in Visa in the 4th quarter valued at $25,000. Westend Capital Management LLC acquired a new stake in shares of Visa during the 1st quarter worth approximately $25,000. Frank Rimerman Advisors LLC bought a new position in Visa in the fourth quarter valued at approximately $33,000. TruNorth Capital Management LLC increased its stake in Visa by 211.9% in the second quarter. TruNorth Capital Management LLC now owns 131 shares of the credit-card processor’s stock valued at $34,000 after acquiring an additional 89 shares during the last quarter. Finally, Bbjs Financial Advisors LLC acquired a new position in Visa during the second quarter valued at approximately $35,000. 82.15% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several equities analysts have recently issued reports on the company. Evercore ISI decreased their price target on Visa from $335.00 to $330.00 and set an “outperform” rating on the stock in a research note on Tuesday, June 25th. TD Cowen dropped their target price on shares of Visa from $320.00 to $318.00 and set a “buy” rating for the company in a report on Wednesday, July 24th. Jefferies Financial Group reduced their price target on shares of Visa from $325.00 to $300.00 and set a “buy” rating on the stock in a research note on Wednesday, July 24th. Bank of America reiterated a “neutral” rating and set a $297.00 price objective (down from $305.00) on shares of Visa in a research report on Wednesday, July 10th. Finally, Mizuho raised their target price on shares of Visa from $265.00 to $275.00 and gave the company a “neutral” rating in a research report on Thursday, May 2nd. Six research analysts have rated the stock with a hold rating, twenty-one have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, Visa currently has an average rating of “Moderate Buy” and a consensus target price of $308.50.

Visa Trading Down 0.2 %

Visa stock traded down $0.50 during trading hours on Friday, reaching $267.44. 3,697,448 shares of the company’s stock were exchanged, compared to its average volume of 7,178,655. The firm’s 50 day simple moving average is $265.93 and its 200 day simple moving average is $273.30. Visa Inc. has a twelve month low of $227.78 and a twelve month high of $290.96. The company has a quick ratio of 1.37, a current ratio of 1.37 and a debt-to-equity ratio of 0.54. The firm has a market capitalization of $489.13 billion, a PE ratio of 29.88, a PEG ratio of 1.89 and a beta of 0.95.

Visa (NYSE:V) last released its earnings results on Tuesday, July 23rd. The credit-card processor reported $2.42 EPS for the quarter, hitting the consensus estimate of $2.42. Visa had a return on equity of 51.94% and a net margin of 54.72%. The business had revenue of $8.90 billion during the quarter, compared to analysts’ expectations of $8.92 billion. During the same quarter last year, the firm posted $2.16 earnings per share. The firm’s revenue was up 9.6% on a year-over-year basis. Research analysts predict that Visa Inc. will post 9.91 earnings per share for the current year.

Visa Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, September 3rd. Investors of record on Friday, August 9th will be given a dividend of $0.52 per share. The ex-dividend date is Friday, August 9th. This represents a $2.08 dividend on an annualized basis and a dividend yield of 0.78%. Visa’s payout ratio is presently 23.24%.

Visa Company 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.