TD Waterhouse Canada Inc. Boosts Stake in Visa Inc. (NYSE:V)

by · The Markets Daily

TD Waterhouse Canada Inc. grew its position in Visa Inc. (NYSE:V – Free Report) by 0.6% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 657,373 shares of the credit-card processor’s stock after acquiring an additional 4,204 shares during the quarter. Visa accounts for 1.7% of TD Waterhouse Canada Inc.’s portfolio, making the stock its 11th biggest holding. TD Waterhouse Canada Inc.’s holdings in Visa were worth $207,934,000 at the end of the most recent quarter.

Several other hedge funds have also modified their holdings of the company. Decker Retirement Planning Inc. purchased a new stake in Visa during the fourth quarter valued at $26,000. Bradley & Co. Private Wealth Management LLC bought a new stake in shares of Visa in the 4th quarter worth about $27,000. POM Investment Strategies LLC raised its position in shares of Visa by 48.5% during the 4th quarter. POM Investment Strategies LLC now owns 98 shares of the credit-card processor’s stock valued at $31,000 after buying an additional 32 shares in the last quarter. Modus Advisors LLC purchased a new position in Visa in the fourth quarter worth about $32,000. Finally, Compass Planning Associates Inc bought a new stake in Visa during the fourth quarter worth approximately $32,000. 82.15% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at Visa

In other news, General Counsel Julie B. Rottenberg sold 2,572 shares of the stock in a transaction on Monday, February 3rd. The shares were sold at an average price of $340.00, for a total value of $874,480.00. Following the sale, the general counsel now owns 11,925 shares in the company, valued at $4,054,500. This represents a 17.74 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Paul D. Fabara sold 39,350 shares of the business’s stock in a transaction on Friday, March 14th. The shares were sold at an average price of $327.20, for a total transaction of $12,875,320.00. Following the transaction, the insider now owns 26,413 shares of the company’s stock, valued at $8,642,333.60. This represents a 59.84 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 143,205 shares of company stock worth $48,842,490. Company insiders own 0.13% of the company’s stock.

Visa Stock Down 0.6 %

Shares of Visa stock opened at $329.26 on Monday. Visa Inc. has a 52-week low of $252.70 and a 52-week high of $366.54. The firm’s 50 day moving average price is $340.68 and its 200-day moving average price is $321.05. The company has a quick ratio of 1.12, a current ratio of 1.12 and a debt-to-equity ratio of 0.45. The company has a market cap of $611.69 billion, a P/E ratio of 33.19, a PEG ratio of 2.33 and a beta of 0.94.

Visa (NYSE:V – Get Free Report) last announced its earnings results on Thursday, January 30th. The credit-card processor reported $2.75 earnings per share for the quarter, topping the consensus estimate of $2.66 by $0.09. Visa had a return on equity of 54.79% and a net margin of 54.27%. On average, sell-side analysts predict that Visa Inc. will post 11.3 EPS for the current fiscal year.

Visa Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, March 3rd. Shareholders of record on Tuesday, February 11th were issued a $0.59 dividend. The ex-dividend date of this dividend was Tuesday, February 11th. This represents a $2.36 dividend on an annualized basis and a dividend yield of 0.72%. Visa’s dividend payout ratio is currently 23.79%.

Analyst Ratings Changes

V has been the subject of a number of recent research reports. Keefe, Bruyette & Woods reiterated a “hold” rating on shares of Visa in a report on Thursday, February 13th. The Goldman Sachs Group boosted their price objective on shares of Visa from $346.00 to $384.00 and gave the company a “buy” rating in a research report on Friday, January 31st. Piper Sandler restated an “overweight” rating and issued a $383.00 target price (up previously from $368.00) on shares of Visa in a report on Friday, January 31st. Wells Fargo & Company upped their price target on shares of Visa from $360.00 to $395.00 and gave the company an “overweight” rating in a report on Friday, January 31st. Finally, Raymond James reissued an “outperform” rating and issued a $393.00 price objective (up previously from $374.00) on shares of Visa in a research note on Friday, January 31st. Seven research analysts have rated the stock with a hold rating, twenty-one have given a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $355.84.

Get Our Latest Report on V

Visa Profile

(Free Report)

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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