Mackenzie Financial Corp Sells 140,688 Shares of Visa Inc. (NYSE:V)

Mackenzie Financial Corp lowered its stake in Visa Inc. (NYSE:V) by 4.2% in the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 3,204,244 shares of the credit-card processor’s stock after selling 140,688 shares during the quarter. Visa accounts for approximately 1.2% of Mackenzie Financial Corp’s portfolio, making the stock its 13th largest position. Mackenzie Financial Corp’s holdings in Visa were worth $841,018,000 as of its most recent SEC filing.

Other institutional investors also recently modified their holdings of the company. Makena Capital Management LLC raised its stake in Visa by 1.7% during the 2nd quarter. Makena Capital Management LLC now owns 61,525 shares of the credit-card processor’s stock worth $16,148,000 after buying an additional 1,020 shares during the period. Marshfield Associates raised its position in shares of Visa by 0.3% during the second quarter. Marshfield Associates now owns 925,954 shares of the credit-card processor’s stock worth $243,035,000 after purchasing an additional 2,825 shares during the period. Matrix Private Capital Group LLC lifted its holdings in shares of Visa by 2.3% in the 2nd quarter. Matrix Private Capital Group LLC now owns 2,244 shares of the credit-card processor’s stock worth $589,000 after purchasing an additional 50 shares in the last quarter. Maverick Capital Ltd. grew its position in Visa by 28.3% in the 2nd quarter. Maverick Capital Ltd. now owns 590,112 shares of the credit-card processor’s stock valued at $154,887,000 after purchasing an additional 130,254 shares during the period. Finally, MBB Public Markets I LLC increased its stake in Visa by 2,662.4% during the 2nd quarter. MBB Public Markets I LLC now owns 112,514 shares of the credit-card processor’s stock valued at $29,532,000 after purchasing an additional 108,441 shares in the last quarter. Institutional investors and hedge funds own 82.15% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts have recently issued reports on the stock. Macquarie reiterated an “outperform” rating and set a $300.00 price objective on shares of Visa in a report on Wednesday, July 24th. BNP Paribas raised Visa from a “neutral” rating to an “outperform” rating and set a $325.00 price objective for the company in a report on Tuesday, September 3rd. Morgan Stanley restated an “overweight” rating and issued a $322.00 target price on shares of Visa in a report on Wednesday. Piper Sandler decreased their price target on Visa from $322.00 to $319.00 and set an “overweight” rating for the company in a report on Wednesday, July 24th. Finally, Monness Crespi & Hardt restated a “neutral” rating on shares of Visa in a research note on Tuesday. Six equities research analysts have rated the stock with a hold rating, twenty-three have given a buy rating and two have assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $310.22.

Visa Stock Up 0.8 %

V stock opened at $271.69 on Friday. The stock has a 50-day simple moving average of $271.12 and a two-hundred day simple moving average of $273.39. Visa Inc. has a twelve month low of $227.78 and a twelve month high of $293.07. The firm has a market capitalization of $496.90 billion, a PE ratio of 30.36, a PEG ratio of 1.92 and a beta of 0.96. The company has a quick ratio of 1.37, a current ratio of 1.37 and a debt-to-equity ratio of 0.54.

Visa (NYSE:V) last posted its earnings results on Tuesday, July 23rd. The credit-card processor reported $2.42 earnings per share for the quarter, hitting analysts’ consensus estimates of $2.42. The business had revenue of $8.90 billion for the quarter, compared to analyst estimates of $8.92 billion. Visa had a net margin of 54.72% and a return on equity of 51.94%. Visa’s revenue was up 9.6% on a year-over-year basis. During the same quarter in the prior year, the firm posted $2.16 EPS. On average, equities analysts predict that Visa Inc. will post 9.92 EPS for the current fiscal year.

Visa Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, September 3rd. Investors of record on Friday, August 9th were given a dividend of $0.52 per share. This represents a $2.08 annualized dividend and a yield of 0.77%. The ex-dividend date of this dividend was Friday, August 9th. Visa’s payout ratio is 23.24%.

Insider Buying and Selling

In related news, CEO Ryan Mcinerney sold 8,620 shares of the company’s stock in a transaction that occurred on Tuesday, September 3rd. The shares were sold at an average price of $276.37, for a total value of $2,382,309.40. Following the transaction, the chief executive officer now directly owns 538 shares in the company, valued at $148,687.06. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 0.19% of the stock is owned by company insiders.

About Visa

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.