TD Asset Management Inc. Has $1.20 Billion Position in Visa Inc. (NYSE:V)

TD Asset Management Inc. increased its position in shares of Visa Inc. (NYSE:V) by 1.6% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 3,788,279 shares of the credit-card processor’s stock after acquiring an additional 58,393 shares during the period. Visa comprises 1.1% of TD Asset Management Inc.’s holdings, making the stock its 16th largest holding. TD Asset Management Inc.’s holdings in Visa were worth $1,197,248,000 at the end of the most recent reporting period.

A number of other hedge funds have also added to or reduced their stakes in V. Princeton Capital Management LLC grew its position in Visa by 4.4% in the fourth quarter. Princeton Capital Management LLC now owns 2,521 shares of the credit-card processor’s stock valued at $797,000 after acquiring an additional 107 shares during the last quarter. EFG Asset Management North America Corp. lifted its holdings in shares of Visa by 22.7% in the fourth quarter. EFG Asset Management North America Corp. now owns 23,363 shares of the credit-card processor’s stock worth $7,390,000 after acquiring an additional 4,316 shares during the last quarter. Prospect Financial Group LLC acquired a new stake in shares of Visa in the 4th quarter valued at approximately $259,000. Modern Wealth Management LLC grew its holdings in shares of Visa by 64.1% during the 4th quarter. Modern Wealth Management LLC now owns 8,358 shares of the credit-card processor’s stock valued at $2,641,000 after purchasing an additional 3,264 shares during the last quarter. Finally, CoreFirst Bank & Trust acquired a new position in Visa during the 4th quarter worth approximately $654,000. 82.15% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of analysts have weighed in on V shares. Piper Sandler restated an “overweight” rating and issued a $383.00 target price (up previously from $368.00) on shares of Visa in a research report on Friday, January 31st. Keefe, Bruyette & Woods restated a “hold” rating on shares of Visa in a research report on Thursday, February 13th. StockNews.com raised Visa from a “hold” rating to a “buy” rating in a report on Thursday, March 20th. JPMorgan Chase & Co. lifted their price target on Visa from $340.00 to $375.00 and gave the company an “overweight” rating in a research note on Friday, January 31st. Finally, UBS Group upped their price objective on Visa from $350.00 to $400.00 and gave the company a “buy” rating in a research note on Friday, January 31st. Six research analysts have rated the stock with a hold rating, twenty-three have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, Visa presently has an average rating of “Moderate Buy” and an average target price of $353.96.

Visa Stock Performance

Shares of V stock opened at $343.96 on Tuesday. The firm has a 50 day moving average of $341.23 and a 200-day moving average of $313.75. The company has a market cap of $639.00 billion, a price-to-earnings ratio of 34.67, a price-to-earnings-growth ratio of 2.33 and a beta of 0.95. The company has a quick ratio of 1.12, a current ratio of 1.12 and a debt-to-equity ratio of 0.45. Visa Inc. has a 52 week low of $252.70 and a 52 week high of $366.54.

Visa (NYSE:V) last posted its quarterly earnings results on Thursday, January 30th. The credit-card processor reported $2.75 earnings per share for the quarter, beating the consensus estimate of $2.66 by $0.09. Visa had a net margin of 54.27% and a return on equity of 54.79%. On average, equities analysts forecast that Visa Inc. will post 11.3 earnings per share for the current year.

Visa Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Monday, March 3rd. Investors of record on Tuesday, February 11th were paid a dividend of $0.59 per share. This represents a $2.36 dividend on an annualized basis and a yield of 0.69%. The ex-dividend date of this dividend was Tuesday, February 11th. Visa’s dividend payout ratio (DPR) is currently 23.79%.

Insiders Place Their Bets

In other news, CEO Ryan Mcinerney sold 8,620 shares of Visa stock in a transaction dated Thursday, January 2nd. The shares were sold at an average price of $317.78, for a total transaction of $2,739,263.60. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, General Counsel Julie B. Rottenberg sold 2,572 shares of the company’s stock in a transaction dated Monday, February 3rd. The stock was sold at an average price of $340.00, for a total transaction of $874,480.00. Following the completion of 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 position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 143,205 shares of company stock worth $48,560,961. Corporate insiders own 0.13% of the company’s stock.

About Visa

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.