Mackenzie Financial Corp Sells 49,681 Shares of Visa Inc. $V

Mackenzie Financial Corp cut its stake in shares of Visa Inc. (NYSE:V) by 3.1% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 1,557,975 shares of the credit-card processor’s stock after selling 49,681 shares during the period. Mackenzie Financial Corp owned about 0.09% of Visa worth $531,862,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently modified their holdings of the company. Norges Bank bought a new stake in Visa during the second quarter valued at about $7,034,939,000. TCI Fund Management Ltd. boosted its stake in Visa by 14.6% during the second quarter. TCI Fund Management Ltd. now owns 19,067,558 shares of the credit-card processor’s stock valued at $6,769,936,000 after buying an additional 2,429,996 shares during the last quarter. Corient Private Wealth LLC grew its holdings in shares of Visa by 110.4% in the second quarter. Corient Private Wealth LLC now owns 3,954,937 shares of the credit-card processor’s stock valued at $1,396,930,000 after purchasing an additional 2,075,289 shares in the last quarter. Vanguard Group Inc. grew its stake in shares of Visa by 0.9% in the 2nd quarter. Vanguard Group Inc. now owns 162,544,006 shares of the credit-card processor’s stock worth $57,711,249,000 after buying an additional 1,461,575 shares in the last quarter. Finally, Capital Research Global Investors grew its position in Visa by 73.4% in the third quarter. Capital Research Global Investors now owns 3,197,405 shares of the credit-card processor’s stock worth $1,091,528,000 after acquiring an additional 1,353,441 shares in the last quarter. 82.15% of the stock is currently owned by hedge funds and other institutional investors.

Visa Stock Performance

V opened at $314.44 on Wednesday. The company has a market cap of $570.77 billion, a price-to-earnings ratio of 29.50, a PEG ratio of 1.81 and a beta of 0.78. The firm’s fifty day simple moving average is $328.02 and its two-hundred day simple moving average is $336.81. The company has a quick ratio of 1.11, a current ratio of 1.11 and a debt-to-equity ratio of 0.51. Visa Inc. has a 52-week low of $299.00 and a 52-week high of $375.51.

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

Visa Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, March 2nd. Shareholders of record on Tuesday, February 10th were issued a dividend of $0.67 per share. The ex-dividend date of this dividend was Tuesday, February 10th. This represents a $2.68 dividend on an annualized basis and a dividend yield of 0.9%. Visa’s dividend payout ratio is presently 25.14%.

Wall Street Analyst Weigh In

A number of equities analysts recently commented on the stock. Rothschild & Co Redburn set a $385.00 price target on shares of Visa in a research note on Wednesday, January 28th. Cantor Fitzgerald upgraded Visa to a “strong-buy” rating in a report on Tuesday, January 27th. Macquarie Infrastructure reissued an “outperform” rating and set a $410.00 price objective on shares of Visa in a report on Friday, January 30th. TD Cowen restated a “buy” rating on shares of Visa in a report on Friday, January 30th. Finally, Freedom Capital upgraded Visa from a “hold” rating to a “strong-buy” rating in a research note on Monday, February 16th. Seven investment analysts have rated the stock with a Strong Buy rating, twenty have issued a Buy rating and three have assigned a Hold rating to the company. According to MarketBeat, the company has an average rating of “Buy” and a consensus price target of $392.65.

Insider Buying and Selling at Visa

In other news, CEO Ryan Mcinerney sold 10,485 shares of Visa stock in a transaction that occurred 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 directly owned 9,401 shares of the company’s stock, valued at $3,282,641.18. The trade was a 52.73% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. 0.12% of the stock is currently owned by company insiders.

Visa Profile

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.