Riverview Trust Co Sells 1,652 Shares of Visa Inc. $V

Key Points

• Riverview Trust Co reduced its stake in Visa Inc. by 90.8%, selling 1,652 shares, with its holdings now valued at $59,000 after the sale.
• Several institutional investors, including Vanguard Group Inc. and Northern Trust Corp, have increased their stakes in Visa during the first quarter.
• Visa recently reported earnings per share of $2.98, exceeding estimates, with revenue increasing by 14.3% compared to the previous year.

Riverview Trust Co lessened its stake in shares of Visa Inc. (NYSE:V - Free Report) by 90.8% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 167 shares of the credit-card processor's stock after selling 1,652 shares during the quarter. Riverview Trust Co's holdings in Visa were worth $59,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Vanguard Group Inc. increased its holdings in Visa by 1.1% during the 1st quarter. Vanguard Group Inc. now owns 161,082,431 shares of the credit-card processor's stock worth $56,452,949,000 after purchasing an additional 1,677,088 shares in the last quarter. Northern Trust Corp boosted its position in shares of Visa by 4.0% during the first quarter. Northern Trust Corp now owns 18,987,013 shares of the credit-card processor's stock valued at $6,654,189,000 after buying an additional 726,299 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its holdings in Visa by 7.2% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 14,277,146 shares of the credit-card processor's stock worth $5,003,569,000 after buying an additional 955,392 shares in the last quarter. Charles Schwab Investment Management Inc. raised its position in Visa by 3.5% in the 1st quarter. Charles Schwab Investment Management Inc. now owns 12,675,220 shares of the credit-card processor's stock valued at $4,442,157,000 after buying an additional 434,217 shares during the last quarter. Finally, Wellington Management Group LLP lifted its stake in Visa by 17.7% during the 1st quarter. Wellington Management Group LLP now owns 10,979,720 shares of the credit-card processor's stock valued at $3,847,953,000 after acquiring an additional 1,651,954 shares in the last quarter. 82.15% of the stock is owned by institutional investors.

Analysts Set New Price Targets

V has been the subject of several analyst reports. Raymond James Financial reiterated an "outperform" rating on shares of Visa in a report on Wednesday, July 30th. Weiss Ratings reissued a "buy (b)" rating on shares of Visa in a research report on Saturday, September 27th. Truist Financial reduced their target price on Visa from $400.00 to $397.00 and set a "buy" rating for the company in a report on Thursday, July 17th. UBS Group reiterated a "buy" rating and set a $415.00 price target (up from $405.00) on shares of Visa in a report on Wednesday, July 30th. Finally, Macquarie upped their price objective on Visa from $380.00 to $425.00 and gave the company an "outperform" rating in a research note on Thursday, July 31st. One analyst has rated the stock with a Strong Buy rating, twenty-one have assigned a Buy rating and five have given a Hold rating to the stock. According to data from MarketBeat, Visa has an average rating of "Moderate Buy" and an average price target of $385.96.

Insider Transactions at Visa

In other Visa news, General Counsel Julie B. Rottenberg sold 2,027 shares of the firm's stock in a transaction dated Monday, August 18th. The stock was sold at an average price of $344.02, for a total value of $697,328.54. Following the sale, the general counsel owned 11,925 shares of the company's stock, valued at $4,102,438.50. This trade represents a 14.53% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, CEO Ryan Mcinerney sold 10,485 shares of Visa stock in a transaction dated Wednesday, October 1st. The shares were sold at an average price of $342.30, for a total value of $3,589,015.50. Following the sale, the chief executive officer owned 537 shares of the company's stock, valued at approximately $183,815.10. This trade represents a 95.13% decrease in their position. The disclosure for this sale can be found here. 0.13% of the stock is owned by corporate insiders.

Visa Trading Up 1.1%

NYSE:V opened at $349.90 on Monday. Visa Inc. has a 1 year low of $273.24 and a 1 year high of $375.51. The stock's fifty day moving average price is $343.78 and its two-hundred day moving average price is $346.81. The company has a debt-to-equity ratio of 0.52, a current ratio of 1.12 and a quick ratio of 1.12. The company has a market cap of $641.28 billion, a P/E ratio of 34.17, a P/E/G ratio of 2.07 and a beta of 0.90.

Visa (NYSE:V - Get Free Report) last announced its quarterly earnings results on Tuesday, July 29th. The credit-card processor reported $2.98 earnings per share for the quarter, beating the consensus estimate of $2.85 by $0.13. Visa had a return on equity of 58.93% and a net margin of 52.16%.The firm had revenue of $10.17 billion for the quarter, compared to analysts' expectations of $9.82 billion. During the same period in the prior year, the business posted $2.42 earnings per share. The company's revenue was up 14.3% on a year-over-year basis. As a group, analysts expect that Visa Inc. will post 11.3 EPS for the current year.

Visa Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, September 2nd. Investors of record on Tuesday, August 12th were given a dividend of $0.59 per share. This represents a $2.36 annualized dividend and a yield of 0.7%. The ex-dividend date was Tuesday, August 12th. Visa's payout ratio is presently 23.05%.

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.

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