Dixon Mitchell Investment Counsel Inc. Buys 8,569 Shares of Visa Inc. (NYSE:V)

Dixon Mitchell Investment Counsel Inc. boosted its stake in shares of Visa Inc. (NYSE:V) by 2.0% during the 1st quarter, Holdings Channel.com reports. The institutional investor owned 432,884 shares of the credit-card processor’s stock after purchasing an additional 8,569 shares during the quarter. Visa accounts for about 6.0% of Dixon Mitchell Investment Counsel Inc.’s holdings, making the stock its biggest position. Dixon Mitchell Investment Counsel Inc.’s holdings in Visa were worth $120,809,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Nadler Financial Group Inc. boosted its position in Visa by 2.4% during the fourth quarter. Nadler Financial Group Inc. now owns 1,900 shares of the credit-card processor’s stock worth $495,000 after purchasing an additional 44 shares during the period. Towerpoint Wealth LLC acquired a new position in shares of Visa in the fourth quarter valued at $216,000. Andrew Hill Investment Advisors Inc. acquired a new position in shares of Visa in the fourth quarter valued at $3,427,000. Richelieu Gestion SA bought a new stake in Visa in the fourth quarter valued at $307,000. Finally, Cooper Financial Group grew its position in Visa by 6.4% in the fourth quarter. Cooper Financial Group now owns 7,926 shares of the credit-card processor’s stock valued at $2,064,000 after acquiring an additional 476 shares during the period. Hedge funds and other institutional investors own 82.15% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages have recently commented on V. Redburn Atlantic restated a “neutral” rating and set a $307.00 target price on shares of Visa in a report on Wednesday, March 27th. Mizuho raised their target price on Visa from $265.00 to $275.00 and gave the stock a “neutral” rating in a report on Thursday, May 2nd. Oppenheimer lifted their price objective on Visa from $297.00 to $299.00 and gave the company an “outperform” rating in a report on Wednesday, April 24th. Evercore ISI cut their price objective on Visa from $335.00 to $330.00 and set an “outperform” rating on the stock in a report on Tuesday, June 25th. Finally, Piper Sandler initiated coverage on Visa in a research note on Monday, May 13th. They issued an “overweight” rating and a $322.00 target price on the stock. Five equities research analysts have rated the stock with a hold rating and twenty-one have issued a buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $303.56.

Insider Activity

In related news, insider Paul D. Fabara sold 25,293 shares of Visa stock in a transaction that occurred on Wednesday, May 15th. The shares were sold at an average price of $277.15, for a total transaction of $7,009,954.95. Following the transaction, the insider now directly owns 17,894 shares of the company’s stock, valued at $4,959,322.10. The sale was disclosed in a filing with the SEC, which is accessible through this link. In related news, insider Paul D. Fabara sold 25,293 shares of the company’s stock in a transaction on Wednesday, May 15th. The stock was sold at an average price of $277.15, for a total value of $7,009,954.95. Following the transaction, the insider now directly owns 17,894 shares of the company’s stock, valued at approximately $4,959,322.10. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Director Lloyd Carney sold 909 shares of the company’s stock in a transaction on Friday, April 26th. The shares were sold at an average price of $275.55, for a total value of $250,474.95. Following the completion of the transaction, the director now directly owns 2,591 shares in the company, valued at $713,950.05. The disclosure for this sale can be found here. Insiders own 0.19% of the company’s stock.

Visa Price Performance

V stock traded up $4.92 during trading on Tuesday, reaching $268.16. The company’s stock had a trading volume of 8,696,822 shares, compared to its average volume of 6,833,536. Visa Inc. has a 1 year low of $227.68 and a 1 year high of $290.96. The company has a quick ratio of 1.40, a current ratio of 1.40 and a debt-to-equity ratio of 0.53. The company has a market capitalization of $490.45 billion, a P/E ratio of 29.77, a price-to-earnings-growth ratio of 1.80 and a beta of 0.95. The company’s fifty day moving average is $273.70 and its 200-day moving average is $273.61.

Visa (NYSE:V) last issued its quarterly earnings data on Tuesday, April 23rd. The credit-card processor reported $2.51 earnings per share for the quarter, beating analysts’ consensus estimates of $2.43 by $0.08. Visa had a return on equity of 51.23% and a net margin of 53.87%. The firm had revenue of $8.78 billion during the quarter, compared to analyst estimates of $8.62 billion. During the same quarter last year, the business posted $2.09 earnings per share. The business’s quarterly revenue was up 9.9% compared to the same quarter last year. On average, research analysts expect that Visa Inc. will post 9.94 earnings per share for the current fiscal year.

Visa Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, June 3rd. Stockholders of record on Friday, May 17th were paid a dividend of $0.52 per share. This represents a $2.08 annualized dividend and a dividend yield of 0.78%. The ex-dividend date was Thursday, May 16th. Visa’s dividend payout ratio is presently 23.24%.

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.