Visa Inc. (NYSE:V) Shares Sold by Stock Yards Bank & Trust Co.

Stock Yards Bank & Trust Co. reduced its holdings in Visa Inc. (NYSE:V) by 2.3% during the 2nd quarter, Holdings Channel reports. The fund owned 235,586 shares of the credit-card processor’s stock after selling 5,628 shares during the period. Visa makes up about 2.0% of Stock Yards Bank & Trust Co.’s holdings, making the stock its 10th largest holding. Stock Yards Bank & Trust Co.’s holdings in Visa were worth $61,834,000 at the end of the most recent reporting period.

Several other institutional investors have also recently made changes to their positions in V. Edgestream Partners L.P. boosted its stake in shares of Visa by 27.0% in the second quarter. Edgestream Partners L.P. now owns 9,860 shares of the credit-card processor’s stock worth $2,588,000 after buying an additional 2,096 shares during the last quarter. GDS Wealth Management lifted its holdings in Visa by 13.6% in the second quarter. GDS Wealth Management now owns 38,673 shares of the credit-card processor’s stock valued at $10,151,000 after acquiring an additional 4,632 shares during the period. Moors & Cabot Inc. boosted its position in Visa by 0.7% in the 2nd quarter. Moors & Cabot Inc. now owns 76,159 shares of the credit-card processor’s stock worth $19,990,000 after purchasing an additional 510 shares in the last quarter. Excalibur Management Corp grew its stake in shares of Visa by 0.9% during the 2nd quarter. Excalibur Management Corp now owns 13,407 shares of the credit-card processor’s stock worth $3,519,000 after purchasing an additional 120 shares during the period. Finally, Lmcg Investments LLC increased its holdings in shares of Visa by 1.7% during the 2nd quarter. Lmcg Investments LLC now owns 73,016 shares of the credit-card processor’s stock valued at $19,165,000 after purchasing an additional 1,228 shares in the last quarter. Hedge funds and other institutional investors own 82.15% of the company’s stock.

Insider Transactions at Visa

In related news, CEO Ryan Mcinerney sold 8,620 shares of the business’s stock in a transaction dated Tuesday, September 3rd. The shares were sold at an average price of $276.37, for a total value of $2,382,309.40. Following the sale, the chief executive officer now directly owns 538 shares in the company, valued at approximately $148,687.06. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Company insiders own 0.19% of the company’s stock.

Visa Price Performance

Shares of V stock opened at $290.52 on Tuesday. The firm’s 50-day moving average is $268.78 and its two-hundred day moving average is $273.21. Visa Inc. has a 12 month low of $227.78 and a 12 month high of $290.96. The company has a debt-to-equity ratio of 0.54, a current ratio of 1.37 and a quick ratio of 1.37. The company has a market capitalization of $529.42 billion, a PE ratio of 32.46, a price-to-earnings-growth ratio of 2.01 and a beta of 0.96.

Visa (NYSE:V) last released its quarterly earnings data on Tuesday, July 23rd. The credit-card processor reported $2.42 EPS for the quarter, meeting analysts’ consensus estimates of $2.42. The firm had revenue of $8.90 billion for the quarter, compared to analysts’ expectations of $8.92 billion. Visa had a return on equity of 51.94% and a net margin of 54.72%. The firm’s quarterly revenue was up 9.6% on a year-over-year basis. During the same period in the prior year, the firm posted $2.16 earnings per share. Analysts predict that Visa Inc. will post 9.92 earnings per share for the current year.

Visa Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, September 3rd. Stockholders of record on Friday, August 9th were paid a $0.52 dividend. This represents a $2.08 annualized dividend and a dividend yield of 0.72%. The ex-dividend date was Friday, August 9th. Visa’s dividend payout ratio (DPR) is presently 23.24%.

Wall Street Analysts Forecast Growth

V has been the topic of several analyst reports. The Goldman Sachs Group restated a “buy” rating and set a $317.00 price target on shares of Visa in a research report on Thursday, September 12th. StockNews.com upgraded Visa from a “hold” rating to a “buy” rating in a research report on Friday, August 9th. Evercore ISI reduced their price target on Visa from $335.00 to $330.00 and set an “outperform” rating for the company in a report on Tuesday, June 25th. Citigroup lowered their price target on Visa from $321.00 to $319.00 and set a “buy” rating on the stock in a research report on Wednesday, July 24th. Finally, Royal Bank of Canada cut their price objective on Visa from $315.00 to $311.00 and set an “outperform” rating for the company in a research report on Wednesday, July 24th. Six equities research analysts have rated the stock with a hold rating, twenty-four have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $309.81.

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.