Riverview Trust Co Raises Stock Position in Visa Inc. (NYSE:V)

Riverview Trust Co increased its holdings in shares of Visa Inc. (NYSE:V) by 7.1% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 2,020 shares of the credit-card processor’s stock after purchasing an additional 134 shares during the period. Riverview Trust Co’s holdings in Visa were worth $564,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors have also recently made changes to their positions in the company. Annex Advisory Services LLC grew its position in Visa by 5.9% during the first quarter. Annex Advisory Services LLC now owns 114,022 shares of the credit-card processor’s stock valued at $31,821,000 after buying an additional 6,323 shares during the period. Central Valley Advisors LLC grew its position in Visa by 3.6% during the first quarter. Central Valley Advisors LLC now owns 10,631 shares of the credit-card processor’s stock valued at $2,967,000 after buying an additional 366 shares during the period. Divergent Planning LLC grew its position in Visa by 29.0% during the first quarter. Divergent Planning LLC now owns 1,666 shares of the credit-card processor’s stock valued at $464,000 after buying an additional 375 shares during the period. Morton Capital Management LLC CA grew its position in Visa by 2.8% during the first quarter. Morton Capital Management LLC CA now owns 3,125 shares of the credit-card processor’s stock valued at $872,000 after buying an additional 86 shares during the period. Finally, Capital Advisors Wealth Management LLC grew its position in Visa by 4.9% during the first quarter. Capital Advisors Wealth Management LLC now owns 13,668 shares of the credit-card processor’s stock valued at $3,815,000 after buying an additional 644 shares during the period. Hedge funds and other institutional investors own 82.15% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts recently commented on the stock. UBS Group raised their price target on shares of Visa from $315.00 to $325.00 and gave the company a “buy” rating in a research report on Wednesday, April 24th. Piper Sandler initiated coverage on shares of Visa in a research report on Monday, May 13th. They issued an “overweight” rating and a $322.00 target price on the stock. William Blair restated an “outperform” rating on shares of Visa in a research report on Wednesday, April 24th. Redburn Atlantic restated a “neutral” rating and set a $307.00 price target on shares of Visa in a research report on Wednesday, March 27th. Finally, Citigroup boosted their price target on shares of Visa from $314.00 to $321.00 and gave the stock a “buy” rating in a research report on Wednesday, April 24th. Five investment analysts have rated the stock with a hold rating and twenty-one have assigned a buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $303.56.

Visa Trading Down 1.0 %

NYSE V opened at $273.66 on Wednesday. The company has a quick ratio of 1.40, a current ratio of 1.40 and a debt-to-equity ratio of 0.53. Visa Inc. has a 52 week low of $226.02 and a 52 week high of $290.96. The stock has a market capitalization of $500.51 billion, a PE ratio of 30.58, a price-to-earnings-growth ratio of 1.89 and a beta of 0.97. The firm has a 50 day moving average of $274.11 and a two-hundred day moving average of $273.41.

Visa (NYSE:V) last issued its earnings results on Tuesday, April 23rd. The credit-card processor reported $2.51 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.43 by $0.08. Visa had a net margin of 53.87% and a return on equity of 51.23%. The business had revenue of $8.78 billion during the quarter, compared to analysts’ expectations of $8.62 billion. During the same quarter in the prior year, the business posted $2.09 EPS. The company’s revenue for the quarter was up 9.9% on a year-over-year basis. As a group, research analysts expect that Visa Inc. will post 9.94 EPS for the current fiscal year.

Visa Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, June 3rd. Stockholders of record on Friday, May 17th were issued a $0.52 dividend. This represents a $2.08 annualized dividend and a dividend yield of 0.76%. The ex-dividend date of this dividend was Thursday, May 16th. Visa’s payout ratio is 23.24%.

Insider Activity

In related news, Director Lloyd Carney sold 909 shares of the company’s stock in a transaction on Friday, April 26th. The shares were sold at an average price of $275.55, for a total value of $250,474.95. Following the completion of the sale, the director now owns 2,591 shares in the company, valued at approximately $713,950.05. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In related news, Director Lloyd Carney sold 909 shares of the company’s stock in a transaction on Friday, April 26th. The shares were sold at an average price of $275.55, for a total value of $250,474.95. Following the completion of the sale, the director now owns 2,591 shares in the company, valued at approximately $713,950.05. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, insider Paul D. Fabara sold 25,293 shares of the company’s stock in a transaction on Wednesday, May 15th. The shares were sold at an average price of $277.15, for a total transaction of $7,009,954.95. Following the completion of the sale, the insider now owns 17,894 shares of the company’s stock, valued at approximately $4,959,322.10. The disclosure for this sale can be found here. In the last quarter, insiders sold 34,402 shares of company stock worth $9,559,382. Corporate insiders own 0.19% of the company’s stock.

Visa Company 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.