Mackenzie Financial Corp Sells 45,935 Shares of Visa Inc. (NYSE:V)

Mackenzie Financial Corp reduced its position in Visa Inc. (NYSE:V) by 1.7% during the fourth quarter, Holdings Channel.com reports. The firm owned 2,581,756 shares of the credit-card processor’s stock after selling 45,935 shares during the quarter. Visa accounts for approximately 1.0% of Mackenzie Financial Corp’s holdings, making the stock its 21st biggest position. Mackenzie Financial Corp’s holdings in Visa were worth $672,160,000 at the end of the most recent reporting period.

A number of other large investors also recently modified their holdings of the company. BCK Partners Inc. bought a new position in Visa during the 1st quarter valued at $2,717,000. Markel Corp lifted its stake in Visa by 0.3% during the 1st quarter. Markel Corp now owns 961,105 shares of the credit-card processor’s stock valued at $213,144,000 after acquiring an additional 3,065 shares in the last quarter. AMI Investment Management Inc. bought a new position in Visa during the 1st quarter valued at $2,323,000. Ergoteles LLC bought a new position in Visa during the 1st quarter valued at $538,000. Finally, XTX Topco Ltd purchased a new stake in shares of Visa during the 1st quarter valued at $1,496,000. 82.15% of the stock is currently owned by institutional investors.

Visa Stock Performance

Shares of V opened at $271.34 on Wednesday. The company has a market cap of $498.32 billion, a PE ratio of 31.22, a price-to-earnings-growth ratio of 1.87 and a beta of 0.96. The company has a current ratio of 1.45, a quick ratio of 1.45 and a debt-to-equity ratio of 0.54. The stock has a 50-day moving average price of $279.93 and a 200-day moving average price of $262.49. Visa Inc. has a 12-month low of $216.14 and a 12-month high of $290.96.

Visa (NYSE:V) last issued its quarterly earnings results on Thursday, January 25th. The credit-card processor reported $2.41 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.34 by $0.07. The firm had revenue of $8.63 billion during the quarter, compared to the consensus estimate of $8.55 billion. Visa had a return on equity of 50.02% and a net margin of 53.92%. The company’s revenue for the quarter was up 9.3% on a year-over-year basis. During the same quarter last year, the company posted $2.18 EPS. As a group, equities analysts forecast that Visa Inc. will post 9.89 earnings per share for the current fiscal year.

Visa Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, March 1st. Investors of record on Friday, February 9th were given a $0.52 dividend. The ex-dividend date of this dividend was Thursday, February 8th. This represents a $2.08 dividend on an annualized basis and a yield of 0.77%. Visa’s payout ratio is 23.94%.

Insider Buying and Selling

In related news, CEO Ryan Mcinerney sold 8,200 shares of the business’s stock in a transaction that occurred on Monday, April 1st. The stock was sold at an average price of $280.36, for a total value of $2,298,952.00. Following the completion of the sale, the chief executive officer now owns 538 shares in the company, valued at approximately $150,833.68. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. In other Visa news, insider Rajat Taneja sold 36,546 shares of the business’s stock in a transaction that occurred on Friday, January 19th. The stock was sold at an average price of $270.20, for a total value of $9,874,729.20. Following the completion of the sale, the insider now owns 232,112 shares in the company, valued at $62,716,662.40. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Ryan Mcinerney sold 8,200 shares of the business’s stock in a transaction that occurred on Monday, April 1st. The shares were sold at an average price of $280.36, for a total value of $2,298,952.00. Following the completion of the sale, the chief executive officer now owns 538 shares of the company’s stock, valued at approximately $150,833.68. The disclosure for this sale can be found here. Insiders sold 55,511 shares of company stock worth $15,131,081 in the last quarter. 0.19% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

V has been the subject of several research analyst reports. Barclays raised their target price on Visa from $304.00 to $319.00 and gave the company an “overweight” rating in a research report on Monday, January 29th. Monness Crespi & Hardt initiated coverage on Visa in a research report on Wednesday, December 20th. They set a “neutral” rating for the company. TD Cowen initiated coverage on Visa in a research report on Thursday, April 11th. They set a “buy” rating and a $320.00 target price for the company. Evercore ISI raised their target price on Visa from $325.00 to $335.00 and gave the company an “outperform” rating in a research report on Tuesday, March 26th. Finally, Keefe, Bruyette & Woods raised their target price on Visa from $305.00 to $315.00 and gave the company an “outperform” rating in a research report on Friday, January 26th. Five analysts have rated the stock with a hold rating and nineteen have given a buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $296.87.

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.