Visa Inc. (NYSE:V) Holdings Reduced by Mackenzie Financial Corp

Key Points

• Mackenzie Financial Corp has reduced its holdings in Visa Inc. by 4.7%, now owning approximately 1.64 million shares, valued at around $576 million.
• CEO Ryan Mcinerney sold 8,630 shares of Visa stock for over $3 million, leading to a significant decrease in his ownership from the company.
• Visa recently announced a quarterly dividend of $0.59 per share, reflecting an annualized dividend yield of 0.66%.

Mackenzie Financial Corp decreased its position in Visa Inc. (NYSE:V - Free Report) by 4.7% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 1,644,002 shares of the credit-card processor's stock after selling 80,640 shares during the period. Visa makes up approximately 0.8% of Mackenzie Financial Corp's holdings, making the stock its 27th biggest position. Mackenzie Financial Corp owned 0.09% of Visa worth $576,157,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also made changes to their positions in the company. von Borstel & Associates Inc. acquired a new stake in Visa during the first quarter valued at approximately $27,000. Measured Risk Portfolios Inc. acquired a new stake in Visa during the fourth quarter valued at approximately $47,000. Navigoe LLC acquired a new stake in Visa during the fourth quarter valued at approximately $53,000. O Brien Wealth Partners LLC acquired a new stake in Visa during the first quarter valued at approximately $54,000. Finally, Hurley Capital LLC acquired a new stake in Visa during the fourth quarter valued at approximately $56,000. 82.15% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In related news, CEO Ryan Mcinerney sold 8,630 shares of the business's 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 completion of the sale, the chief executive officer directly owned 537 shares of the company's stock, valued at $190,001.34. The trade was a 94.14% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, insider Paul D. Fabara sold 46,214 shares of the business's stock in a transaction that occurred on Thursday, June 5th. The stock was sold at an average price of $370.00, for a total transaction of $17,099,180.00. Following the sale, the insider directly owned 26,413 shares of the company's stock, valued at approximately $9,772,810. This trade represents a 63.63% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 101,108 shares of company stock valued at $36,771,200. Insiders own 0.13% of the company's stock.

Visa Price Performance

Shares of Visa stock opened at $356.93 on Monday. The company has a debt-to-equity ratio of 0.45, a quick ratio of 1.08 and a current ratio of 1.08. The firm's 50-day simple moving average is $356.30 and its 200-day simple moving average is $345.45. Visa Inc. has a twelve month low of $254.51 and a twelve month high of $375.51. The firm has a market cap of $658.60 billion, a P/E ratio of 35.87, a price-to-earnings-growth ratio of 2.41 and a beta of 0.92.

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

Visa Dividend Announcement

The business also recently announced 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 dividend on an annualized basis and a dividend yield of 0.66%. The ex-dividend date was Tuesday, May 13th. Visa's dividend payout ratio is presently 23.72%.

Analysts Set New Price Targets

A number of equities analysts recently commented on V shares. Oppenheimer raised their price objective on shares of Visa from $390.00 to $391.00 and gave the stock an "outperform" rating in a research note on Wednesday, July 2nd. Mizuho raised shares of Visa from a "neutral" rating to an "outperform" rating and raised their price objective for the stock from $359.00 to $425.00 in a research note on Thursday, June 5th. Jefferies Financial Group raised their price objective on shares of Visa from $400.00 to $410.00 and gave the stock a "buy" rating in a research note on Tuesday, May 27th. Deutsche Bank Aktiengesellschaft started coverage on shares of Visa in a research note on Thursday, July 17th. They issued a "buy" rating and a $410.00 price objective for the company. Finally, Wall Street Zen raised shares of Visa from a "hold" rating to a "buy" rating in a research note on Monday, May 12th. Five investment analysts have rated the stock with a hold rating, twenty-three have assigned a buy rating and one has assigned a strong buy rating to the company's stock. Based on data from MarketBeat, Visa presently has a consensus rating of "Moderate Buy" and an average price target of $375.52.

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.

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