Visa Inc. (NYSE:V) is Stock Yards Bank & Trust Co.’s 6th Largest Position

Stock Yards Bank & Trust Co. decreased its holdings in shares of Visa Inc. (NYSE:V) by 2.9% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 216,372 shares of the credit-card processor’s stock after selling 6,413 shares during the quarter. Visa makes up approximately 2.7% of Stock Yards Bank & Trust Co.’s portfolio, making the stock its 6th biggest position. Stock Yards Bank & Trust Co.’s holdings in Visa were worth $75,830,000 as of its most recent SEC filing.

Several other institutional investors have also recently added to or reduced their stakes in the business. Bradley & Co. Private Wealth Management LLC acquired a new position in Visa during the fourth quarter worth approximately $27,000. Compass Planning Associates Inc acquired a new position in Visa during the fourth quarter worth approximately $32,000. NewSquare Capital LLC acquired a new position in Visa during the fourth quarter worth approximately $35,000. FPC Investment Advisory Inc. increased its position in Visa by 377.3% during the fourth quarter. FPC Investment Advisory Inc. now owns 105 shares of the credit-card processor’s stock worth $36,000 after buying an additional 83 shares during the period. Finally, Sellwood Investment Partners LLC acquired a new position in Visa during the fourth quarter worth approximately $41,000. Hedge funds and other institutional investors own 82.15% of the company’s stock.

Wall Street Analyst Weigh In

V has been the topic of several research analyst reports. Citigroup initiated coverage on Visa in a research report on Monday, June 2nd. They set a “buy” rating on the stock. Evercore ISI started coverage on Visa in a report on Wednesday, April 9th. They issued an “in-line” rating and a $330.00 target price on the stock. Jefferies Financial Group boosted their target price on Visa from $400.00 to $410.00 and gave the company a “buy” rating in a report on Tuesday, May 27th. Piper Sandler boosted their target price on Visa from $383.00 to $384.00 and gave the company an “overweight” rating in a report on Wednesday, April 30th. Finally, Mizuho raised Visa from a “neutral” rating to an “outperform” rating and boosted their target price for the company from $359.00 to $425.00 in a report on Thursday, June 5th. Five analysts have rated the stock with a hold rating, twenty-three have issued a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, Visa has an average rating of “Moderate Buy” and a consensus target price of $372.80.

Insider Buying and Selling

In other news, CEO Ryan Mcinerney sold 8,620 shares of the stock in a transaction dated Thursday, May 1st. The stock was sold at an average price of $345.58, for a total value of $2,978,899.60. Following the completion of the sale, the chief executive officer now owns 537 shares in the company, valued at approximately $185,576.46. This trade represents a 94.14% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Paul D. Fabara sold 11,636 shares of the stock in a transaction dated Wednesday, June 11th. The shares were sold at an average price of $375.00, for a total value of $4,363,500.00. Following the completion of the transaction, the insider now directly owns 26,413 shares of the company’s stock, valued at $9,904,875. This represents a 30.58% decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 140,448 shares of company stock worth $50,133,659. 0.13% of the stock is owned by company insiders.

Visa Stock Down 5.0%

Shares of NYSE:V opened at $352.75 on Friday. 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 $375.51. The stock’s fifty day simple moving average is $349.76 and its 200-day simple moving average is $337.45. The company has a market capitalization of $650.87 billion, a P/E ratio of 35.56, a P/E/G ratio of 2.33 and a beta of 0.94.

Visa (NYSE:V) last issued its quarterly earnings data on Tuesday, April 29th. The credit-card processor reported $2.76 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.68 by $0.08. Visa had a return on equity of 54.79% and a net margin of 54.27%. The business had revenue of $9.59 billion for the quarter, compared to the consensus estimate of $9.57 billion. During the same period in the prior year, the business earned $2.51 earnings per share. The business’s revenue was up 9.3% on a year-over-year basis. As a group, equities research analysts forecast that Visa Inc. will post 11.3 earnings per share for the current fiscal year.

Visa Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, June 2nd. Investors of record on Tuesday, May 13th were given a dividend of $0.59 per share. The ex-dividend date was Tuesday, May 13th. This represents a $2.36 annualized dividend and a yield of 0.67%. Visa’s dividend payout ratio (DPR) is presently 23.72%.

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.