Toronto Dominion Bank Has $162.54 Million Stake in Visa Inc. (NYSE:V)

Toronto Dominion Bank boosted its position in Visa Inc. (NYSE:V) by 5.6% in the third quarter, Holdings Channel.com reports. The firm owned 591,175 shares of the credit-card processor’s stock after purchasing an additional 31,245 shares during the quarter. Toronto Dominion Bank’s holdings in Visa were worth $162,544,000 at the end of the most recent reporting period.

Several other large investors have also recently bought and sold shares of the company. AdvisorNet Financial Inc lifted its holdings in Visa by 2.2% in the second quarter. AdvisorNet Financial Inc now owns 6,251 shares of the credit-card processor’s stock valued at $1,641,000 after buying an additional 137 shares during the period. 180 Wealth Advisors LLC boosted its position in Visa by 3.2% in the second quarter. 180 Wealth Advisors LLC now owns 11,254 shares of the credit-card processor’s stock worth $2,955,000 after purchasing an additional 346 shares during the last quarter. Baader Bank Aktiengesellschaft increased its stake in shares of Visa by 9.3% during the 2nd quarter. Baader Bank Aktiengesellschaft now owns 58,655 shares of the credit-card processor’s stock worth $15,299,000 after purchasing an additional 4,988 shares during the last quarter. Northcape Capital Pty Ltd raised its stake in Visa by 20.7% in the 2nd quarter. Northcape Capital Pty Ltd now owns 15,997 shares of the credit-card processor’s stock valued at $4,199,000 after acquiring an additional 2,740 shares during the period. Finally, Salvus Wealth Management LLC raised its position in shares of Visa by 10.9% in the second quarter. Salvus Wealth Management LLC now owns 3,036 shares of the credit-card processor’s stock valued at $797,000 after purchasing an additional 299 shares during the period. 82.15% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several research analysts have commented on the stock. JPMorgan Chase & Co. raised their price target on shares of Visa from $290.00 to $320.00 and gave the company an “overweight” rating in a report on Tuesday, August 20th. Citigroup raised their price target on Visa from $319.00 to $326.00 and gave the company a “buy” rating in a report on Wednesday, October 30th. Oppenheimer restated an “outperform” rating and set a $321.00 price objective (up previously from $318.00) on shares of Visa in a research report on Wednesday, October 30th. The Goldman Sachs Group reissued a “buy” rating and issued a $317.00 target price on shares of Visa in a research note on Thursday, September 12th. Finally, Royal Bank of Canada increased their price objective on Visa from $311.00 to $322.00 and gave the company an “outperform” rating in a research report on Wednesday, October 30th. Four equities research analysts have rated the stock with a hold rating, twenty-five have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $323.41.

Insider Buying and Selling at Visa

In other news, insider Paul D. Fabara sold 2,171 shares of the business’s stock in a transaction 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 transaction, the insider now directly owns 17,894 shares of the company’s stock, valued at approximately $5,510,815.18. The trade was a 10.82 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Insiders own 0.19% of the company’s stock.

Visa Trading Up 1.3 %

Shares of V stock opened at $312.38 on Wednesday. The company has a market cap of $581.93 billion, a PE ratio of 32.10, a price-to-earnings-growth ratio of 2.07 and a beta of 0.96. Visa Inc. has a 1 year low of $252.70 and a 1 year high of $317.42. The stock’s 50 day simple moving average is $296.38 and its two-hundred day simple moving average is $279.98. The company has a debt-to-equity ratio of 0.55, a current ratio of 1.28 and a quick ratio of 1.28.

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

Visa Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, December 2nd. Shareholders of record on Tuesday, November 12th were issued a $0.59 dividend. This represents a $2.36 annualized dividend and a dividend yield of 0.76%. This is a boost from Visa’s previous quarterly dividend of $0.52. The ex-dividend date of this dividend was Tuesday, November 12th. Visa’s dividend payout ratio is currently 24.25%.

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.