Mackenzie Financial Corp Has $503.41 Million Stock Holdings in Visa Inc. (NYSE:V)

Posted by Defense World Staff on Jul 11th, 2023

Mackenzie Financial Corp grew its holdings in shares of Visa Inc. (NYSE:V – Free Report) by 1.8% in the first quarter, Holdings Channel reports. The institutional investor owned 2,232,789 shares of the credit-card processor’s stock after acquiring an additional 39,197 shares during the period. Mackenzie Financial Corp’s holdings in Visa were worth $503,405,000 as of its most recent SEC filing.

A number of other hedge funds have also recently made changes to their positions in the business. Keudell Morrison Wealth Management boosted its stake in shares of Visa by 0.4% in the 1st quarter. Keudell Morrison Wealth Management now owns 11,761 shares of the credit-card processor’s stock valued at $2,652,000 after purchasing an additional 43 shares in the last quarter. Successful Portfolios LLC boosted its stake in shares of Visa by 3.6% in the 1st quarter. Successful Portfolios LLC now owns 1,232 shares of the credit-card processor’s stock valued at $278,000 after purchasing an additional 43 shares in the last quarter. Auxano Advisors LLC boosted its stake in shares of Visa by 0.3% in the 4th quarter. Auxano Advisors LLC now owns 14,206 shares of the credit-card processor’s stock valued at $2,951,000 after purchasing an additional 45 shares in the last quarter. Wedge Capital Management L L P NC boosted its stake in shares of Visa by 1.6% in the 1st quarter. Wedge Capital Management L L P NC now owns 2,914 shares of the credit-card processor’s stock valued at $657,000 after purchasing an additional 45 shares in the last quarter. Finally, Domani Wealth LLC boosted its stake in shares of Visa by 2.7% in the 4th quarter. Domani Wealth LLC now owns 1,729 shares of the credit-card processor’s stock valued at $359,000 after purchasing an additional 46 shares in the last quarter. 84.92% of the stock is currently owned by institutional investors and hedge funds.

Visa Stock Up 0.7 %

Shares of Visa stock opened at $238.14 on Tuesday. The company has a debt-to-equity ratio of 0.56, a current ratio of 1.50 and a quick ratio of 1.50. The company has a 50-day moving average of $229.20 and a 200 day moving average of $225.30. The firm has a market cap of $446.11 billion, a price-to-earnings ratio of 31.84, a PEG ratio of 1.81 and a beta of 0.97. Visa Inc. has a 1 year low of $174.60 and a 1 year high of $240.00.

Visa (NYSE:V – Get Free Report) last announced its quarterly earnings data on Tuesday, April 25th. The credit-card processor reported $2.09 EPS for the quarter, beating the consensus estimate of $1.97 by $0.12. Visa had a net margin of 50.95% and a return on equity of 50.21%. The company had revenue of $7.99 billion for the quarter, compared to the consensus estimate of $7.79 billion. During the same period in the prior year, the firm posted $1.79 EPS. Visa’s revenue for the quarter was up 11.1% on a year-over-year basis. As a group, sell-side analysts anticipate that Visa Inc. will post 8.59 earnings per share for the current fiscal year.

Visa Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, June 1st. Investors of record on Friday, May 12th were given a dividend of $0.45 per share. This represents a $1.80 annualized dividend and a yield of 0.76%. The ex-dividend date of this dividend was Thursday, May 11th. Visa’s dividend payout ratio (DPR) is 24.06%.

Analyst Ratings Changes

A number of equities research analysts recently commented on the stock. Citigroup upped their price target on shares of Visa from $270.00 to $273.00 in a report on Wednesday, April 26th. KeyCorp upped their price target on shares of Visa from $250.00 to $260.00 in a report on Monday, April 24th. BMO Capital Markets upped their price target on shares of Visa from $253.00 to $263.00 in a report on Wednesday, April 26th. Oppenheimer upped their price target on shares of Visa from $237.00 to $248.00 and gave the company an “outperform” rating in a report on Wednesday, April 19th. Finally, StockNews.com assumed coverage on shares of Visa in a report on Thursday, May 18th. They set a “buy” rating for the company. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and sixteen have assigned a buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $262.52.

Insider Activity at Visa

In related news, Director Lloyd Carney sold 1,288 shares of the stock in a transaction dated Friday, April 28th. The shares were sold at an average price of $232.97, for a total transaction of $300,065.36. Following the sale, the director now directly owns 2,542 shares of the company’s stock, valued at approximately $592,209.74. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, CFO Vasant M. Prabhu sold 40,000 shares of the firm’s stock in a transaction dated Friday, April 28th. The shares were sold at an average price of $231.36, for a total transaction of $9,254,400.00. Following the sale, the chief financial officer now owns 73,638 shares of the company’s stock, valued at approximately $17,036,887.68. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director Lloyd Carney sold 1,288 shares of the firm’s stock in a transaction dated Friday, April 28th. The shares were sold at an average price of $232.97, for a total transaction of $300,065.36. Following the sale, the director now directly owns 2,542 shares in the company, valued at approximately $592,209.74. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 142,602 shares of company stock valued at $33,336,374. 0.21% of the stock is owned by insiders.

About Visa

(Free Report)

Visa Inc operates as a payments technology company worldwide. 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, click to pay; Visa Direct, a real-time payments network; Visa B2B Connect, a multilateral B2B cross-border payments network; Visa Treasury as a Service, a cross-border consumer payments business; 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.