Stock Yards Bank & Trust Co. Sells 7,576 Shares of Visa Inc. (NYSE:V)

Stock Yards Bank & Trust Co. reduced its stake in Visa Inc. (NYSE:V) by 3.2% during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 228,010 shares of the credit-card processor’s stock after selling 7,576 shares during the period. Visa makes up 2.0% of Stock Yards Bank & Trust Co.’s portfolio, making the stock its 11th biggest position. Stock Yards Bank & Trust Co.’s holdings in Visa were worth $62,691,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also recently modified their holdings of the stock. Welch Group LLC raised its stake in shares of Visa by 12.4% in the second quarter. Welch Group LLC now owns 28,789 shares of the credit-card processor’s stock worth $7,556,000 after purchasing an additional 3,181 shares during the last quarter. Vanderbilt University increased its holdings in Visa by 22.3% in the 2nd quarter. Vanderbilt University now owns 13,019 shares of the credit-card processor’s stock worth $3,417,000 after buying an additional 2,370 shares in the last quarter. Mattern Wealth Management LLC raised its position in Visa by 49.1% in the 2nd quarter. Mattern Wealth Management LLC now owns 15,581 shares of the credit-card processor’s stock worth $4,089,000 after buying an additional 5,133 shares during the last quarter. Brown Lisle Cummings Inc. lifted its stake in Visa by 1.5% during the 2nd quarter. Brown Lisle Cummings Inc. now owns 8,212 shares of the credit-card processor’s stock valued at $2,155,000 after acquiring an additional 125 shares during the period. Finally, DeDora Capital Inc. boosted its holdings in shares of Visa by 0.5% during the 2nd quarter. DeDora Capital Inc. now owns 9,188 shares of the credit-card processor’s stock valued at $2,412,000 after acquiring an additional 47 shares during the last quarter. 82.15% of the stock is currently owned by institutional investors.

Visa Price Performance

Shares of V stock opened at $313.83 on Thursday. The stock has a 50 day moving average price of $297.82 and a 200 day moving average price of $280.48. Visa Inc. has a 52-week low of $252.70 and a 52-week high of $317.42. The company has a debt-to-equity ratio of 0.55, a quick ratio of 1.28 and a current ratio of 1.28. The firm has a market capitalization of $584.62 billion, a P/E ratio of 32.25, a P/E/G ratio of 2.07 and a beta of 0.96.

Visa (NYSE:V) last posted its quarterly earnings results on Tuesday, October 29th. The credit-card processor reported $2.71 EPS for the quarter, topping the consensus estimate of $2.58 by $0.13. The company had revenue of $9.62 billion for the quarter, compared to the consensus estimate of $9.49 billion. Visa had a net margin of 54.96% and a return on equity of 53.16%. The firm’s revenue was up 11.7% compared to the same quarter last year. During the same quarter last year, the firm posted $2.33 EPS. As a group, sell-side analysts predict that Visa Inc. will post 11.19 earnings per share for the current year.

Visa Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, December 2nd. Investors of record on Tuesday, November 12th were issued a $0.59 dividend. This is an increase from Visa’s previous quarterly dividend of $0.52. This represents a $2.36 annualized dividend and a dividend yield of 0.75%. The ex-dividend date was Tuesday, November 12th. Visa’s payout ratio is presently 24.25%.

Insider Buying and Selling

In other Visa news, insider Paul D. Fabara sold 2,171 shares of the stock in a transaction on Friday, November 22nd. The stock was sold at an average price of $307.97, for a total transaction of $668,602.87. Following the sale, the insider now owns 17,894 shares of the company’s stock, valued at approximately $5,510,815.18. This trade represents a 10.82 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.19% of the stock is owned by insiders.

Wall Street Analyst Weigh In

A number of equities analysts have recently issued reports on V shares. BMO Capital Markets raised their price target on Visa from $310.00 to $320.00 and gave the stock an “outperform” rating in a research note on Wednesday, October 30th. TD Cowen boosted their price target on Visa from $318.00 to $325.00 and gave the company a “buy” rating in a research note on Wednesday, October 30th. Monness Crespi & Hardt reaffirmed a “neutral” rating on shares of Visa in a research report on Tuesday, September 24th. Royal Bank of Canada raised their price objective on shares of Visa from $311.00 to $322.00 and gave the stock an “outperform” rating in a report on Wednesday, October 30th. Finally, Macquarie upped their target price on shares of Visa from $300.00 to $335.00 and gave the company an “outperform” rating in a report on Wednesday, October 30th. Four research analysts have rated the stock with a hold rating, twenty-five have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, Visa has an average rating of “Moderate Buy” and an average price target of $324.74.

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.