TD Waterhouse Canada Inc. Has $239.35 Million Stake in Visa Inc. $V

TD Waterhouse Canada Inc. increased its holdings in shares of Visa Inc. (NYSE:V) by 1.7% in the 2nd quarter, according to its most recent disclosure 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 period. Visa makes up about 1.7% of TD Waterhouse Canada Inc.’s holdings, 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 institutional investors and hedge funds have also bought and sold shares of the stock. Keystone Global Partners LLC acquired a new position in shares of Visa during the first quarter valued at about $26,000. Family Legacy Financial Solutions LLC acquired a new stake in shares of Visa in the 2nd quarter valued at about $28,000. Harbor Asset Planning Inc. bought a new stake in Visa in the 2nd quarter valued at about $29,000. Cranbrook Wealth Management LLC raised its stake in Visa by 82.0% during the 2nd quarter. Cranbrook Wealth Management LLC now owns 91 shares of the credit-card processor’s stock worth $32,000 after buying an additional 41 shares during the period. Finally, Hoese & Co LLP bought a new position in Visa in the second quarter worth approximately $36,000. 82.15% of the stock is owned by institutional investors.

Analysts Set New Price Targets

V has been the subject of several recent research reports. UBS Group set a $425.00 price objective on Visa and gave the company a “buy” rating in a report on Wednesday, October 29th. KeyCorp reissued an “overweight” rating and issued a $405.00 price target on shares of Visa in a research report on Wednesday, October 22nd. Morgan Stanley set a $398.00 price objective on shares of Visa and gave the stock an “overweight” rating in a report on Wednesday, October 29th. Robert W. Baird set a $425.00 price objective on shares of Visa in a research note on Wednesday, October 29th. Finally, Wells Fargo & Company raised shares of Visa to a “strong-buy” rating in a research report on Wednesday, October 22nd. Four investment analysts have rated the stock with a Strong Buy rating, seventeen have given a Buy rating and five have given a Hold rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $400.00.

Visa Price Performance

Shares of NYSE:V opened at $320.78 on Wednesday. The company has a current ratio of 1.08, a quick ratio of 1.08 and a debt-to-equity ratio of 0.53. The stock has a market cap of $584.37 billion, a PE ratio of 31.42, a price-to-earnings-growth ratio of 1.97 and a beta of 0.87. The stock’s fifty day simple moving average is $341.36 and its two-hundred day simple moving average is $348.40. Visa Inc. has a 1-year low of $299.00 and a 1-year high of $375.51.

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

Visa Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, December 1st. Shareholders of record on Wednesday, November 12th will be paid a $0.67 dividend. This is a positive change from Visa’s previous quarterly dividend of $0.59. The ex-dividend date is Wednesday, November 12th. This represents a $2.68 annualized dividend and a yield of 0.8%. Visa’s dividend payout ratio (DPR) is 26.25%.

Insider Activity at Visa

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

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.