TD Asset Management Inc Raises Stock Holdings in Visa Inc. (NYSE:V)

Key Points

• TD Asset Management Inc increased its holdings in Visa Inc. by 15.0%, owning over 4.35 million shares valued at approximately $1.53 billion, making Visa 1.4% of its portfolio.
• Visa reported a quarterly earnings EPS of $2.76, exceeding analysts' expectations by $0.08, with revenues increasing by 9.3% year-over-year.
• The company recently declared a quarterly dividend of $0.59 per share, translating to an annualized yield of 0.66% and a payout ratio of 23.72%.

TD Asset Management Inc grew its position in Visa Inc. (NYSE:V - Free Report) by 15.0% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 4,355,948 shares of the credit-card processor's stock after purchasing an additional 567,669 shares during the period. Visa makes up approximately 1.4% of TD Asset Management Inc's investment portfolio, making the stock its 11th largest holding. TD Asset Management Inc owned 0.23% of Visa worth $1,526,586,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently modified their holdings of V. Brighton Jones LLC raised its holdings in shares of Visa by 50.1% in the fourth quarter. Brighton Jones LLC now owns 20,635 shares of the credit-card processor's stock valued at $6,522,000 after purchasing an additional 6,883 shares during the last quarter. Revolve Wealth Partners LLC grew its stake in shares of Visa by 68.9% in the fourth quarter. Revolve Wealth Partners LLC now owns 11,811 shares of the credit-card processor's stock valued at $3,733,000 after buying an additional 4,817 shares in the last quarter. Providence Capital Advisors LLC grew its stake in shares of Visa by 34.1% in the fourth quarter. Providence Capital Advisors LLC now owns 866 shares of the credit-card processor's stock valued at $274,000 after buying an additional 220 shares in the last quarter. New Age Alpha Advisors LLC grew its stake in shares of Visa by 44,126.7% in the fourth quarter. New Age Alpha Advisors LLC now owns 33,170 shares of the credit-card processor's stock valued at $10,483,000 after buying an additional 33,095 shares in the last quarter. Finally, Broadway Wealth Solutions Inc. bought a new position in shares of Visa in the fourth quarter valued at $419,000. 82.15% of the stock is owned by institutional investors and hedge funds.

Visa Price Performance

Visa stock traded down $1.58 during midday trading on Monday, reaching $355.46. 3,918,997 shares of the stock were exchanged, compared to its average volume of 5,270,063. Visa Inc. has a 52 week low of $254.51 and a 52 week high of $375.51. 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 has a market cap of $655.88 billion, a PE ratio of 35.72, a PEG ratio of 2.41 and a beta of 0.92. The company's fifty day moving average is $356.30 and its 200-day moving average is $345.45.

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

Visa Announces Dividend

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

Insiders Place Their Bets

In other Visa news, General Counsel Julie B. Rottenberg sold 2,575 shares of the business's stock in a transaction that occurred on Thursday, May 1st. The stock was sold at an average price of $345.58, for a total value of $889,868.50. Following the completion of the sale, the general counsel owned 11,925 shares in the company, valued at approximately $4,121,041.50. The trade was a 17.76% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Paul D. Fabara sold 11,636 shares of the business's stock in a transaction that occurred on Wednesday, June 11th. The shares were sold at an average price of $375.00, for a total value of $4,363,500.00. Following the completion of the sale, the insider owned 26,413 shares of the company's stock, valued at $9,904,875. The trade was a 30.58% decrease in their position. The disclosure for this sale can be found here. Insiders sold 101,108 shares of company stock valued at $36,771,200 over the last three months. Insiders own 0.13% of the company's stock.

Analyst Ratings Changes

V has been the subject of a number of research analyst reports. Deutsche Bank Aktiengesellschaft initiated coverage on shares of Visa in a research report on Thursday, July 17th. They set a "buy" rating and a $410.00 price objective for the company. Macquarie dropped their price target on Visa from $400.00 to $380.00 and set an "outperform" rating for the company in a research note on Wednesday, April 30th. BMO Capital Markets upped their price objective on Visa from $370.00 to $380.00 and gave the company an "outperform" rating in a research note on Wednesday, April 30th. UBS Group upped their price objective on shares of Visa from $395.00 to $405.00 and gave the company a "buy" rating in a research note on Wednesday, May 28th. Finally, Truist Financial cut their price target on Visa from $400.00 to $397.00 and set a "buy" rating on the stock in a report on Thursday, July 17th. Five analysts have rated the stock with a hold rating, twenty-three have given a buy rating and one has issued a strong buy rating to the company's stock. According to data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus 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.