Visa Inc. (NYSE:V) Shares Sold by Riggs Asset Managment Co. Inc.

Riggs Asset Managment Co. Inc. decreased its position in shares of Visa Inc. (NYSE:V) by 0.7% in the fourth quarter, HoldingsChannel reports. The firm owned 36,178 shares of the credit-card processor’s stock after selling 238 shares during the quarter. Visa accounts for 3.0% of Riggs Asset Managment Co. Inc.’s portfolio, making the stock its 6th biggest position. Riggs Asset Managment Co. Inc.’s holdings in Visa were worth $9,419,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Altshuler Shaham Ltd acquired a new stake in shares of Visa during the third quarter worth about $25,000. O Brien Wealth Partners LLC acquired a new position in Visa in the fourth quarter valued at approximately $32,000. Financial Freedom LLC acquired a new position in Visa in the fourth quarter valued at approximately $32,000. Nalls Sherbakoff Group LLC lifted its holdings in Visa by 545.5% in the third quarter. Nalls Sherbakoff Group LLC now owns 142 shares of the credit-card processor’s stock valued at $33,000 after acquiring an additional 120 shares during the period. Finally, Valued Wealth Advisors LLC acquired a new position in Visa in the fourth quarter valued at approximately $37,000. Institutional investors and hedge funds own 82.15% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts have recently commented on V shares. KeyCorp boosted their price objective on Visa from $275.00 to $300.00 and gave the company an “overweight” rating in a research report on Monday, January 8th. Redburn Atlantic restated a “neutral” rating and issued a $307.00 price objective on shares of Visa in a research report on Wednesday, March 27th. Wedbush boosted their price objective on Visa from $270.00 to $280.00 and gave the company an “outperform” rating in a research report on Friday, January 26th. William Blair restated an “outperform” rating on shares of Visa in a research report on Friday, January 26th. Finally, Mizuho restated a “neutral” rating and issued a $265.00 price objective on shares of Visa in a research report on Wednesday, March 27th. Five research analysts have rated the stock with a hold rating and nineteen have assigned a buy rating to the company’s stock. According to MarketBeat, Visa has an average rating of “Moderate Buy” and a consensus price target of $298.43.

Visa Price Performance

V opened at $269.78 on Monday. The stock’s 50-day moving average price is $279.58 and its 200 day moving average price is $263.35. Visa Inc. has a 12-month low of $216.14 and a 12-month high of $290.96. The company has a current ratio of 1.45, a quick ratio of 1.45 and a debt-to-equity ratio of 0.54. The firm has a market cap of $495.45 billion, a price-to-earnings ratio of 31.04, a PEG ratio of 1.86 and a beta of 0.96.

Visa (NYSE:V) last posted its earnings results on Thursday, January 25th. The credit-card processor reported $2.41 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.34 by $0.07. The firm had revenue of $8.63 billion for the quarter, compared to analyst estimates of $8.55 billion. Visa had a return on equity of 50.02% and a net margin of 53.92%. Visa’s revenue was up 9.3% on a year-over-year basis. During the same quarter in the prior year, the company earned $2.18 EPS. As a group, sell-side analysts expect that Visa Inc. will post 9.88 earnings per share for the current year.

Visa Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, March 1st. Shareholders of record on Friday, February 9th were given a $0.52 dividend. This represents a $2.08 dividend on an annualized basis and a yield of 0.77%. The ex-dividend date of this dividend was Thursday, February 8th. Visa’s dividend payout ratio is currently 23.94%.

Insider Buying and Selling at Visa

In other Visa news, CEO Ryan Mcinerney sold 8,150 shares of the stock in a transaction dated Thursday, February 1st. The stock was sold at an average price of $273.39, for a total value of $2,228,128.50. The transaction was disclosed in a document filed with the SEC, which is available at this link. In other news, CAO Peter M. Andreski sold 2,615 shares of the stock in a transaction dated Wednesday, February 7th. The stock was sold at an average price of $278.88, for a total value of $729,271.20. Following the transaction, the chief accounting officer now owns 4,898 shares in the company, valued at approximately $1,365,954.24. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO Ryan Mcinerney sold 8,150 shares of the firm’s stock in a transaction that occurred on Thursday, February 1st. The stock was sold at an average price of $273.39, for a total value of $2,228,128.50. The disclosure for this sale can be found here. Insiders have sold 18,965 shares of company stock valued at $5,256,352 in the last quarter. 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.