Visa Inc. $V Shares Sold by TD Asset Management Inc

Key Points

• TD Asset Management Inc reduced its stake in Visa Inc. by 7.3%, owning approximately 4 million shares valued at over $1.4 billion after selling 316,167 shares.
• Several large investors have recently increased their holdings in Visa, with UBS Asset Management notably raising its stake by 7.2% and owning over 14 million shares.
• Visa reported higher-than-expected quarterly earnings with an EPS of $2.98 and revenue of $10.17 billion, marking a 14.3% increase compared to the previous year.

TD Asset Management Inc decreased its position in Visa Inc. (NYSE:V - Free Report) by 7.3% during the 2nd quarter, according to its most recent disclosure with the SEC. The fund owned 4,039,781 shares of the credit-card processor's stock after selling 316,167 shares during the period. Visa comprises approximately 1.2% of TD Asset Management Inc's portfolio, making the stock its 16th biggest holding. TD Asset Management Inc owned 0.22% of Visa worth $1,434,324,000 at the end of the most recent quarter.

Several other large investors also recently bought and sold shares of V. Fjarde AP Fonden Fourth Swedish National Pension Fund raised its stake in Visa by 14.5% in the 1st quarter. Fjarde AP Fonden Fourth Swedish National Pension Fund now owns 455,183 shares of the credit-card processor's stock valued at $159,523,000 after purchasing an additional 57,800 shares during the last quarter. Precedent Wealth Partners LLC raised its stake in Visa by 7.5% in the 2nd quarter. Precedent Wealth Partners LLC now owns 1,588 shares of the credit-card processor's stock valued at $564,000 after purchasing an additional 111 shares during the last quarter. Consilium Wealth Advisory LLC acquired a new position in Visa in the 2nd quarter valued at about $862,000. Iron Gate Global Advisors LLC raised its stake in Visa by 5.9% in the 1st quarter. Iron Gate Global Advisors LLC now owns 62,890 shares of the credit-card processor's stock valued at $22,040,000 after purchasing an additional 3,484 shares during the last quarter. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its stake in Visa by 7.2% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 14,277,146 shares of the credit-card processor's stock valued at $5,003,569,000 after purchasing an additional 955,392 shares during the last quarter. Institutional investors and hedge funds own 82.15% of the company's stock.

Analyst Upgrades and Downgrades

V has been the topic of a number of research analyst reports. Erste Group Bank lowered Visa from a "buy" rating to a "hold" rating in a research note on Monday, September 22nd. Raymond James Financial reissued an "outperform" rating on shares of Visa in a research note on Wednesday, July 30th. UBS Group reissued a "buy" rating and issued a $415.00 price target (up from $405.00) on shares of Visa in a research note on Wednesday, July 30th. Truist Financial decreased their price target on Visa from $400.00 to $397.00 and set a "buy" rating on the stock in a research note on Thursday, July 17th. Finally, Macquarie raised their price target on Visa from $380.00 to $425.00 and gave the stock an "outperform" rating in a research note on Thursday, July 31st. One investment analyst has rated the stock with a Strong Buy rating, twenty-one have issued a Buy rating and five have issued a Hold rating to the company's stock. Based on data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $389.00.

Visa Stock Performance

Visa stock opened at $341.90 on Friday. The stock's 50-day moving average is $344.30 and its 200-day moving average is $346.83. The company has a market cap of $626.63 billion, a price-to-earnings ratio of 33.39, a price-to-earnings-growth ratio of 2.02 and a beta of 0.90. The company has a debt-to-equity ratio of 0.52, a current ratio of 1.12 and a quick ratio of 1.12. Visa Inc. has a 12 month low of $280.78 and a 12 month high of $375.51.

Visa (NYSE:V - Get Free Report) last released its quarterly earnings data on Tuesday, July 29th. The credit-card processor reported $2.98 EPS for the quarter, topping analysts' consensus estimates of $2.85 by $0.13. The company had revenue of $10.17 billion for the quarter, compared to the consensus estimate of $9.82 billion. Visa had a return on equity of 58.93% and a net margin of 52.16%.The company's quarterly revenue was up 14.3% compared to the same quarter last year. During the same period last year, the business posted $2.42 EPS. Equities analysts anticipate that Visa Inc. will post 11.3 earnings per share for the current year.

Visa Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Tuesday, September 2nd. Investors of record on Tuesday, August 12th were issued a dividend of $0.59 per share. This represents a $2.36 annualized dividend and a dividend yield of 0.7%. The ex-dividend date was Tuesday, August 12th. Visa's dividend payout ratio (DPR) is presently 23.05%.

Insider Activity

In related news, General Counsel Julie B. Rottenberg sold 2,027 shares of the firm's stock in a transaction dated Monday, August 18th. The stock was sold at an average price of $344.02, for a total transaction of $697,328.54. Following the sale, the general counsel directly owned 11,925 shares in the company, valued at approximately $4,102,438.50. This trade represents a 14.53% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, CEO Ryan Mcinerney sold 10,485 shares of the firm's stock in a transaction dated Wednesday, October 1st. The shares were sold at an average price of $342.30, for a total value of $3,589,015.50. Following the sale, the chief executive officer owned 537 shares in the company, valued at approximately $183,815.10. The trade was a 95.13% decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 0.13% of the company's stock.

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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