Dillon & Associates Inc. Has $40.73 Million Position in Visa Inc. (NYSE:V)

Key Points

• Dillon & Associates Inc. reduced its stake in Visa Inc. by 1.2% during Q1, now holding 116,366 shares valued at approximately $40.73 million, making Visa its third-largest investment.
• Visa reported $2.98 EPS for the last quarter, exceeding analyst expectations, with revenue of $10.17 billion, a 14.3% increase year-over-year.
• The company will pay a quarterly dividend of $0.59 per share on September 2nd, with an annualized yield of 0.7% and a payout ratio of 23.05%.

Dillon & Associates Inc. trimmed its position in shares of Visa Inc. (NYSE:V - Free Report) by 1.2% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 116,366 shares of the credit-card processor's stock after selling 1,432 shares during the quarter. Visa makes up 6.1% of Dillon & Associates Inc.'s holdings, making the stock its 3rd biggest holding. Dillon & Associates Inc.'s holdings in Visa were worth $40,728,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently made changes to their positions in V. von Borstel & Associates Inc. bought a new position in Visa during the 1st quarter worth approximately $27,000. Measured Risk Portfolios Inc. bought a new stake in shares of Visa in the 4th quarter valued at $47,000. Navigoe LLC acquired a new position in Visa during the 4th quarter worth approximately $53,000. O Brien Wealth Partners LLC acquired a new position in shares of Visa during the first quarter valued at about $54,000. Finally, Global X Japan Co. Ltd. bought a new position in Visa in the 1st quarter valued at about $56,000. 82.15% of the stock is owned by institutional investors and hedge funds.

Visa Stock Performance

V stock opened at $336.86 on Monday. The stock's 50 day simple moving average is $352.79 and its 200 day simple moving average is $347.26. The company has a current ratio of 1.12, a quick ratio of 1.12 and a debt-to-equity ratio of 0.52. Visa Inc. has a 12-month low of $258.74 and a 12-month high of $375.51. The stock has a market capitalization of $617.39 billion, a PE ratio of 32.90, a price-to-earnings-growth ratio of 2.25 and a beta of 0.94.

Visa (NYSE:V - Get Free Report) last announced its quarterly earnings results on Tuesday, July 29th. The credit-card processor reported $2.98 EPS for the quarter, topping analysts' consensus estimates of $2.85 by $0.13. The firm had revenue of $10.17 billion during the quarter, compared to analyst estimates of $9.82 billion. Visa had a net margin of 52.16% and a return on equity of 58.93%. The business's revenue for the quarter was up 14.3% on a year-over-year basis. During the same period in the previous year, the business posted $2.42 earnings per share. As a group, research analysts forecast that Visa Inc. will post 11.3 earnings per share for the current fiscal year.

Visa Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, September 2nd. Shareholders of record on Tuesday, August 12th will be issued a dividend of $0.59 per share. This represents a $2.36 dividend on an annualized basis and a yield of 0.7%. The ex-dividend date of this dividend is Tuesday, August 12th. Visa's dividend payout ratio is currently 23.05%.

Insider Activity at Visa

In related news, insider Paul D. Fabara sold 46,214 shares of the stock in a transaction that occurred on Thursday, June 5th. The shares were sold at an average price of $370.00, for a total value of $17,099,180.00. Following the completion of the sale, the insider directly owned 26,413 shares of the company's stock, valued at approximately $9,772,810. This represents a 63.63% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CEO Ryan Mcinerney sold 8,630 shares of Visa stock in a transaction that occurred on Tuesday, July 1st. The shares were sold at an average price of $353.82, for a total transaction of $3,053,466.60. Following the transaction, the chief executive officer directly owned 537 shares in the company, valued at $190,001.34. This represents a 94.14% decrease in their position. The disclosure for this sale can be found here. Insiders sold 75,100 shares of company stock worth $27,643,224 over the last quarter. Insiders own 0.13% of the company's stock.

Analyst Ratings Changes

Several brokerages have recently issued reports on V. Mizuho raised Visa from a "neutral" rating to an "outperform" rating and raised their target price for the company from $359.00 to $425.00 in a research report on Thursday, June 5th. Barclays reiterated an "overweight" rating and issued a $408.00 target price (up from $396.00) on shares of Visa in a research note on Thursday, July 31st. UBS Group reiterated a "buy" rating and issued a $415.00 price objective (up previously from $405.00) on shares of Visa in a research note on Wednesday, July 30th. Macquarie raised their target price on Visa from $380.00 to $425.00 and gave the stock an "outperform" rating in a research report on Thursday, July 31st. Finally, The Goldman Sachs Group initiated coverage on shares of Visa in a report on Monday, June 2nd. They issued a "neutral" rating on the stock. Five investment analysts have rated the stock with a hold rating, twenty-three have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, Visa currently has an average rating of "Moderate Buy" and a consensus price target of $380.84.

Visa 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.

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