TD Asset Management Inc. boosted its position in Visa Inc (NYSE:V) by 0.9% in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 4,236,618 shares of the credit-card processor’s stock after purchasing an additional 37,004 shares during the quarter. Visa comprises about 1.1% of TD Asset Management Inc.’s portfolio, making the stock its 19th biggest holding. TD Asset Management Inc. owned approximately 0.21% of Visa worth $735,265,000 at the end of the most recent reporting period.
Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. FMR LLC boosted its holdings in Visa by 1.9% in the first quarter. FMR LLC now owns 92,255,849 shares of the credit-card processor’s stock worth $14,409,440,000 after acquiring an additional 1,731,813 shares in the last quarter. Oregon Public Employees Retirement Fund boosted its holdings in Visa by 11,319.8% in the fourth quarter. Oregon Public Employees Retirement Fund now owns 86,570,056 shares of the credit-card processor’s stock worth $656,000 after acquiring an additional 85,811,983 shares in the last quarter. Lunia Capital LP boosted its holdings in Visa by 13,370.7% in the fourth quarter. Lunia Capital LP now owns 23,454,446 shares of the credit-card processor’s stock worth $23,454,000 after acquiring an additional 23,280,332 shares in the last quarter. Fisher Asset Management LLC boosted its holdings in Visa by 3.2% in the second quarter. Fisher Asset Management LLC now owns 19,780,743 shares of the credit-card processor’s stock worth $3,432,948,000 after acquiring an additional 622,075 shares in the last quarter. Finally, Jennison Associates LLC boosted its holdings in Visa by 1.6% in the fourth quarter. Jennison Associates LLC now owns 17,301,374 shares of the credit-card processor’s stock worth $2,282,743,000 after acquiring an additional 271,382 shares in the last quarter. Institutional investors and hedge funds own 81.63% of the company’s stock.
V has been the topic of a number of recent research reports. Barclays raised their target price on Visa from $181.00 to $195.00 and gave the company an “overweight” rating in a report on Friday, July 19th. Zacks Investment Research downgraded Visa from a “buy” rating to a “hold” rating and set a $180.00 price target for the company. in a research report on Saturday, June 15th. Deutsche Bank increased their price target on Visa from $177.00 to $225.00 and gave the company a “buy” rating in a research report on Thursday, July 11th. Robert W. Baird set a $196.00 price target on Visa and gave the company a “buy” rating in a research report on Friday, July 19th. Finally, KeyCorp increased their price target on Visa from $190.00 to $195.00 and gave the company an “overweight” rating in a research report on Wednesday, July 24th. Two research analysts have rated the stock with a hold rating and twenty-three have given a buy rating to the company. The stock currently has a consensus rating of “Buy” and an average target price of $195.46.
NYSE:V traded up $1.98 during trading hours on Friday, hitting $178.25. 74,869 shares of the company’s stock traded hands, compared to its average volume of 7,123,580. The firm has a market cap of $354.35 billion, a P/E ratio of 38.77, a P/E/G ratio of 2.00 and a beta of 0.96. Visa Inc has a 52 week low of $121.60 and a 52 week high of $184.07. The business’s fifty day simple moving average is $178.08 and its two-hundred day simple moving average is $162.42. The company has a quick ratio of 1.69, a current ratio of 1.69 and a debt-to-equity ratio of 0.57.
Visa (NYSE:V) last posted its quarterly earnings data on Tuesday, July 23rd. The credit-card processor reported $1.37 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $1.33 by $0.04. The company had revenue of $5.84 billion during the quarter, compared to analyst estimates of $5.70 billion. Visa had a return on equity of 41.04% and a net margin of 53.43%. The firm’s quarterly revenue was up 11.5% on a year-over-year basis. During the same quarter last year, the company earned $1.20 earnings per share. On average, analysts expect that Visa Inc will post 5.4 EPS for the current year.
The company also recently declared a quarterly dividend, which will be paid on Tuesday, September 3rd. Shareholders of record on Friday, August 16th will be paid a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a yield of 0.56%. The ex-dividend date of this dividend is Thursday, August 15th. Visa’s dividend payout ratio (DPR) is currently 21.69%.
In other Visa news, Director Lloyd Carney sold 3,500 shares of Visa stock in a transaction dated Friday, July 26th. The stock was sold at an average price of $182.73, for a total transaction of $639,555.00. Following the completion of the sale, the director now owns 3,452 shares of the company’s stock, valued at $630,783.96. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Denise M. Morrison purchased 1,000 shares of the company’s stock in a transaction on Tuesday, August 6th. The shares were purchased at an average cost of $171.13 per share, with a total value of $171,130.00. Following the purchase, the director now owns 3,223 shares of the company’s stock, valued at $551,551.99. The disclosure for this purchase can be found here. Insiders own 0.17% of the company’s stock.
Visa Inc operates as a payments technology company worldwide. The company facilitates commerce through the transfer of value and information among consumers, merchants, financial institutions, businesses, strategic partners, and government entities. It operates VisaNet, a processing network that enables authorization, clearing, and settlement of payment transactions; and offers fraud protection for account holders and assured payment for merchants.
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