Toronto Dominion Bank Boosts Holdings in Visa Inc. (NYSE:V)

Toronto Dominion Bank lifted its position in Visa Inc. (NYSE:V) by 5.6% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 591,175 shares of the credit-card processor’s stock after buying an additional 31,245 shares during the period. Toronto Dominion Bank’s holdings in Visa were worth $162,544,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors have also recently made changes to their positions in the company. Peterson Financial Group Inc. bought a new stake in Visa in the third quarter worth about $26,000. POM Investment Strategies LLC grew its holdings in Visa by 970.0% in the second quarter. POM Investment Strategies LLC now owns 107 shares of the credit-card processor’s stock worth $28,000 after purchasing an additional 97 shares during the last quarter. Reston Wealth Management LLC purchased a new stake in shares of Visa during the third quarter worth about $31,000. TruNorth Capital Management LLC lifted its stake in shares of Visa by 211.9% during the second quarter. TruNorth Capital Management LLC now owns 131 shares of the credit-card processor’s stock worth $34,000 after buying an additional 89 shares during the period. Finally, CarsonAllaria Wealth Management Ltd. acquired a new position in shares of Visa in the second quarter valued at about $35,000. 82.15% of the stock is owned by hedge funds and other institutional investors.

Visa Stock Up 1.3 %

Shares of Visa stock opened at $312.38 on Wednesday. The firm has a market cap of $581.93 billion, a PE ratio of 32.10, a P/E/G ratio of 2.07 and a beta of 0.96. The business’s 50 day simple moving average is $296.38 and its 200 day simple moving average is $279.98. The company has a debt-to-equity ratio of 0.55, a quick ratio of 1.28 and a current ratio of 1.28. Visa Inc. has a 52-week low of $252.70 and a 52-week high of $317.42.

Visa (NYSE:V) last released its earnings results on Tuesday, October 29th. The credit-card processor reported $2.71 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.58 by $0.13. The business had revenue of $9.62 billion for the quarter, compared to analyst estimates of $9.49 billion. Visa had a return on equity of 53.16% and a net margin of 54.96%. Visa’s revenue was up 11.7% on a year-over-year basis. During the same quarter in the prior year, the company posted $2.33 earnings per share. On average, analysts predict that Visa Inc. will post 11.19 earnings per share for the current fiscal year.

Visa Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, December 2nd. Stockholders of record on Tuesday, November 12th were given a $0.59 dividend. The ex-dividend date was Tuesday, November 12th. This is a positive change from Visa’s previous quarterly dividend of $0.52. This represents a $2.36 annualized dividend and a dividend yield of 0.76%. Visa’s dividend payout ratio is presently 24.25%.

Insider Activity at Visa

In related news, insider Paul D. Fabara sold 2,171 shares of the business’s stock in a transaction that occurred on Friday, November 22nd. The stock was sold at an average price of $307.97, for a total value of $668,602.87. Following the completion of the sale, the insider now directly owns 17,894 shares in the company, valued at approximately $5,510,815.18. The trade was a 10.82 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this link. 0.19% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

V has been the topic of a number of recent analyst reports. Jefferies Financial Group increased their target price on Visa from $320.00 to $330.00 and gave the company a “buy” rating in a research report on Wednesday, October 30th. Bank of America raised their price objective on Visa from $279.00 to $308.00 and gave the stock a “neutral” rating in a research report on Tuesday, September 17th. TD Cowen lifted their price objective on Visa from $318.00 to $325.00 and gave the company a “buy” rating in a research note on Wednesday, October 30th. Keefe, Bruyette & Woods upped their target price on shares of Visa from $335.00 to $360.00 and gave the stock an “outperform” rating in a research note on Monday. Finally, Citigroup raised their target price on shares of Visa from $319.00 to $326.00 and gave the company a “buy” rating in a report on Wednesday, October 30th. Four analysts have rated the stock with a hold rating, twenty-five have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, Visa has a consensus rating of “Moderate Buy” and a consensus target price of $323.41.

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.