Canoe Financial LP Has $134.35 Million Position in Visa Inc. (NYSE:V)

Canoe Financial LP reduced its holdings in Visa Inc. (NYSE:V - Free Report) by 1.2% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 383,355 shares of the credit-card processor's stock after selling 4,546 shares during the period. Visa makes up about 2.2% of Canoe Financial LP's investment portfolio, making the stock its 19th biggest position. Canoe Financial LP's holdings in Visa were worth $134,351,000 at the end of the most recent quarter.

Several other large investors have also bought and sold shares of V. Vanguard Group Inc. raised its holdings in Visa by 4.6% in the fourth quarter. Vanguard Group Inc. now owns 159,405,343 shares of the credit-card processor's stock worth $50,378,465,000 after purchasing an additional 7,079,706 shares during the period. Geode Capital Management LLC raised its holdings in Visa by 4.4% in the fourth quarter. Geode Capital Management LLC now owns 40,345,176 shares of the credit-card processor's stock worth $12,729,901,000 after purchasing an additional 1,689,926 shares during the period. Capital International Investors raised its holdings in Visa by 3.8% in the fourth quarter. Capital International Investors now owns 23,816,573 shares of the credit-card processor's stock worth $7,526,660,000 after purchasing an additional 866,596 shares during the period. Capital World Investors raised its holdings in Visa by 1.0% in the fourth quarter. Capital World Investors now owns 23,277,622 shares of the credit-card processor's stock worth $7,356,614,000 after purchasing an additional 241,057 shares during the period. Finally, Northern Trust Corp raised its holdings in Visa by 18.0% in the fourth quarter. Northern Trust Corp now owns 18,260,714 shares of the credit-card processor's stock worth $5,771,116,000 after purchasing an additional 2,785,707 shares during the period. 82.15% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several equities research analysts have weighed in on V shares. Macquarie cut their target price on shares of Visa from $400.00 to $380.00 and set an "outperform" rating on the stock in a report on Wednesday, April 30th. William Blair reiterated an "outperform" rating on shares of Visa in a report on Wednesday, April 30th. Truist Financial started coverage on shares of Visa in a report on Monday, June 2nd. They issued a "buy" rating and a $400.00 target price on the stock. UBS Group increased their price objective on shares of Visa from $395.00 to $405.00 and gave the stock a "buy" rating in a research report on Wednesday, May 28th. Finally, Citigroup started coverage on shares of Visa in a research report on Monday, June 2nd. They issued a "buy" rating for the company. Five research analysts have rated the stock with a hold rating, twenty-three have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $372.80.

Visa Stock Performance

Shares of NYSE V traded down $2.34 during mid-day trading on Friday, reaching $338.04. 19,326,861 shares of the company were exchanged, compared to its average volume of 7,073,407. The company's 50-day simple moving average is $351.78 and its 200-day simple moving average is $338.54. The company has a quick ratio of 1.08, a current ratio of 1.08 and a debt-to-equity ratio of 0.45. The stock has a market capitalization of $623.73 billion, a P/E ratio of 33.97, a P/E/G ratio of 2.29 and a beta of 0.94. Visa Inc. has a twelve month low of $252.70 and a twelve month high of $375.51.

Visa (NYSE:V - Get Free Report) last issued its quarterly earnings data on Tuesday, April 29th. The credit-card processor reported $2.76 earnings per share for the quarter, topping the consensus estimate of $2.68 by $0.08. Visa had a net margin of 52.86% and a return on equity of 56.28%. The business had revenue of $9.59 billion during the quarter, compared to analysts' expectations of $9.57 billion. During the same quarter in the previous year, the company earned $2.51 EPS. The business's revenue was up 9.3% on a year-over-year basis. As a group, research analysts predict that Visa Inc. will post 11.3 earnings per share for the current year.

Visa Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, June 2nd. Shareholders of record on Tuesday, May 13th were paid a $0.59 dividend. This represents a $2.36 annualized dividend and a yield of 0.70%. The ex-dividend date of this dividend was Tuesday, May 13th. Visa's dividend payout ratio (DPR) is 23.72%.

Insiders Place Their Bets

In other Visa news, CEO Ryan Mcinerney sold 8,620 shares of Visa stock in a transaction dated Thursday, May 1st. The shares were sold at an average price of $345.58, for a total value of $2,978,899.60. Following the completion of the sale, the chief executive officer now owns 537 shares in the company, valued at $185,576.46. The trade was a 94.14% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, General Counsel Julie B. Rottenberg sold 2,575 shares of the business's stock in a transaction that occurred on Thursday, May 1st. The shares were sold at an average price of $345.58, for a total transaction of $889,868.50. Following the completion of the transaction, the general counsel now owns 11,925 shares of the company's stock, valued at $4,121,041.50. The trade was a 17.76% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 101,098 shares of company stock worth $36,738,526 in the last quarter. 0.13% of the stock is currently owned by corporate insiders.

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.