Visa Inc. $V Shares Acquired by TD Waterhouse Canada Inc.

TD Waterhouse Canada Inc. boosted its stake in shares of Visa Inc. (NYSE:V) by 1.7% in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 673,791 shares of the credit-card processor’s stock after purchasing an additional 11,088 shares during the quarter. Visa comprises approximately 1.7% of TD Waterhouse Canada Inc.’s investment portfolio, making the stock its 10th biggest position. TD Waterhouse Canada Inc.’s holdings in Visa were worth $239,353,000 as of its most recent SEC filing.

Several other large investors also recently modified their holdings of V. Keystone Global Partners LLC bought a new stake in shares of Visa during the 1st quarter worth about $26,000. Family Legacy Financial Solutions LLC acquired a new stake in Visa during the second quarter worth approximately $28,000. Harbor Asset Planning Inc. bought a new stake in shares of Visa during the second quarter worth approximately $29,000. Cranbrook Wealth Management LLC grew its position in shares of Visa by 82.0% in the second quarter. Cranbrook Wealth Management LLC now owns 91 shares of the credit-card processor’s stock valued at $32,000 after purchasing an additional 41 shares during the last quarter. Finally, Hoese & Co LLP bought a new position in shares of Visa during the second quarter worth approximately $36,000. 82.15% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several analysts recently issued reports on the company. Wells Fargo & Company upgraded Visa to a “strong-buy” rating in a research note on Wednesday, October 22nd. Weiss Ratings reissued a “buy (b)” rating on shares of Visa in a report on Wednesday, October 8th. Raymond James Financial restated an “outperform” rating and issued a $408.00 price target (up from $398.00) on shares of Visa in a research note on Wednesday, October 29th. Erste Group Bank cut shares of Visa from a “buy” rating to a “hold” rating in a research note on Monday, September 22nd. Finally, Citigroup raised shares of Visa to a “strong-buy” rating in a report on Thursday, October 23rd. Four research analysts have rated the stock with a Strong Buy rating, seventeen have assigned a Buy rating and five have given a Hold rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $400.00.

Visa Stock Down 1.5%

NYSE V opened at $320.78 on Wednesday. The business has a fifty day moving average price of $341.36 and a two-hundred day moving average price of $348.40. The stock has a market capitalization of $584.37 billion, a PE ratio of 31.42, a PEG ratio of 1.97 and a beta of 0.87. The company has a debt-to-equity ratio of 0.53, a current ratio of 1.08 and a quick ratio of 1.08. Visa Inc. has a fifty-two week low of $299.00 and a fifty-two week high of $375.51.

Visa (NYSE:V) last issued its earnings results on Tuesday, October 28th. The credit-card processor reported $2.98 EPS for the quarter, topping the consensus estimate of $2.97 by $0.01. The firm had revenue of $10.72 billion during the quarter, compared to the consensus estimate of $10.60 billion. Visa had a return on equity of 60.31% and a net margin of 50.15%.The business’s quarterly revenue was up 11.5% on a year-over-year basis. During the same quarter in the previous year, the firm earned $2.71 earnings per share. Equities analysts expect that Visa Inc. will post 11.3 earnings per share for the current fiscal year.

Visa Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, December 1st. Investors of record on Wednesday, November 12th will be given a dividend of $0.67 per share. The ex-dividend date is Wednesday, November 12th. This represents a $2.68 dividend on an annualized basis and a yield of 0.8%. This is an increase from Visa’s previous quarterly dividend of $0.59. Visa’s dividend payout ratio is presently 26.25%.

Insider Activity at Visa

In related news, CEO Ryan Mcinerney sold 10,485 shares of the firm’s stock in a transaction that occurred on Monday, November 3rd. The shares were sold at an average price of $341.00, for a total value of $3,575,385.00. Following the completion of the transaction, the chief executive officer owned 537 shares in the company, valued at $183,117. This trade represents a 95.13% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Lloyd Carney sold 900 shares of Visa stock in a transaction that occurred on Tuesday, November 4th. The stock was sold at an average price of $336.48, for a total transaction of $302,832.00. Following the sale, the director owned 2,468 shares in the company, valued at approximately $830,432.64. This represents a 26.72% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 21,870 shares of company stock valued at $7,467,233 in the last ninety days. 0.13% of the stock is currently owned by 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.