Zweig DiMenna Associates LLC Increases Stock Position in Visa Inc. (NYSE:V)

Zweig DiMenna Associates LLC increased its stake in shares of Visa Inc. (NYSE:V) by 0.2% in the 3rd quarter, Holdings Channel reports. The firm owned 47,230 shares of the credit-card processor’s stock after buying an additional 100 shares during the period. Visa accounts for approximately 1.3% of Zweig DiMenna Associates LLC’s holdings, making the stock its 25th biggest position. Zweig DiMenna Associates LLC’s holdings in Visa were worth $12,986,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. POM Investment Strategies LLC lifted its stake in shares of Visa by 970.0% in the 2nd quarter. POM Investment Strategies LLC now owns 107 shares of the credit-card processor’s stock worth $28,000 after purchasing an additional 97 shares during the period. TruNorth Capital Management LLC grew its position in Visa by 211.9% during the second quarter. TruNorth Capital Management LLC now owns 131 shares of the credit-card processor’s stock valued at $34,000 after buying an additional 89 shares during the period. Bbjs Financial Advisors LLC purchased a new stake in Visa during the second quarter valued at approximately $35,000. CarsonAllaria Wealth Management Ltd. bought a new position in Visa in the second quarter worth approximately $35,000. Finally, Abich Financial Wealth Management LLC boosted its stake in shares of Visa by 52.9% during the 1st quarter. Abich Financial Wealth Management LLC now owns 133 shares of the credit-card processor’s stock worth $37,000 after acquiring an additional 46 shares during the last quarter. Institutional investors own 82.15% of the company’s stock.

Visa Trading Down 0.5 %

V opened at $281.73 on Friday. 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 stock’s fifty day moving average is $278.73 and its two-hundred day moving average is $273.17. The company has a market capitalization of $515.27 billion, a P/E ratio of 31.48, a PEG ratio of 1.96 and a beta of 0.96. Visa Inc. has a 52 week low of $228.03 and a 52 week high of $293.07.

Visa (NYSE:V) last released its quarterly earnings data on Tuesday, July 23rd. The credit-card processor reported $2.42 earnings per share for the quarter, meeting the consensus estimate of $2.42. Visa had a return on equity of 51.94% and a net margin of 54.72%. The firm had revenue of $8.90 billion during the quarter, compared to the consensus estimate of $8.92 billion. During the same period in the previous year, the company posted $2.16 earnings per share. The firm’s quarterly revenue was up 9.6% on a year-over-year basis. Analysts forecast that Visa Inc. will post 9.92 earnings per share for the current year.

Analysts Set New Price Targets

A number of equities analysts recently commented on V shares. Citigroup decreased their target price on Visa from $321.00 to $319.00 and set a “buy” rating on the stock in a report on Wednesday, July 24th. Morgan Stanley restated an “overweight” rating and set a $322.00 target price on shares of Visa in a research note on Wednesday, September 25th. Royal Bank of Canada decreased their price target on Visa from $315.00 to $311.00 and set an “outperform” rating on the stock in a report on Wednesday, July 24th. TD Cowen dropped their price objective on Visa from $320.00 to $318.00 and set a “buy” rating for the company in a research note on Wednesday, July 24th. Finally, Bank of America lifted their target price on Visa from $279.00 to $308.00 and gave the company a “neutral” rating in a research note on Tuesday, September 17th. Four equities research analysts have rated the stock with a hold rating, twenty-three have given a buy rating and two have issued a strong buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $314.19.

Insider Activity

In other Visa news, CEO Ryan Mcinerney sold 8,620 shares of the stock in a transaction on Tuesday, September 3rd. The stock was sold at an average price of $276.37, for a total transaction of $2,382,309.40. Following the sale, the chief executive officer now owns 538 shares of the company’s stock, valued at approximately $148,687.06. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Company insiders own 0.19% of the company’s stock.

About Visa

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.