Stock Yards Bank & Trust Co. Decreases Stock Holdings in Visa Inc. (NYSE:V)

Stock Yards Bank & Trust Co. lowered its stake in shares of Visa Inc. (NYSE:V) by 3.7% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 245,810 shares of the credit-card processor’s stock after selling 9,328 shares during the quarter. Visa makes up approximately 2.3% of Stock Yards Bank & Trust Co.’s holdings, making the stock its 9th biggest holding. Stock Yards Bank & Trust Co.’s holdings in Visa were worth $63,997,000 as of its most recent SEC filing.

Other hedge funds have also recently added to or reduced their stakes in the company. FMR LLC lifted its position in Visa by 4.7% during the 3rd quarter. FMR LLC now owns 50,357,747 shares of the credit-card processor’s stock valued at $11,582,785,000 after purchasing an additional 2,257,605 shares during the period. Northern Trust Corp raised its position in shares of Visa by 4.7% in the 3rd quarter. Northern Trust Corp now owns 17,073,700 shares of the credit-card processor’s stock valued at $3,927,122,000 after acquiring an additional 763,505 shares during the period. Ameriprise Financial Inc. raised its position in shares of Visa by 2.7% in the 3rd quarter. Ameriprise Financial Inc. now owns 14,229,004 shares of the credit-card processor’s stock valued at $3,272,846,000 after acquiring an additional 374,489 shares during the period. Jennison Associates LLC raised its position in shares of Visa by 0.7% in the 4th quarter. Jennison Associates LLC now owns 11,824,113 shares of the credit-card processor’s stock valued at $3,078,408,000 after acquiring an additional 85,123 shares during the period. Finally, Brown Advisory Inc. raised its position in shares of Visa by 1.5% in the 3rd quarter. Brown Advisory Inc. now owns 7,542,434 shares of the credit-card processor’s stock valued at $1,734,835,000 after acquiring an additional 108,280 shares during the period. Institutional investors own 82.15% of the company’s stock.

Insider Activity at Visa

In related news, CEO Ryan Mcinerney sold 8,200 shares of the firm’s stock in a transaction on Monday, April 1st. The shares were sold at an average price of $280.36, for a total value of $2,298,952.00. Following the completion of the transaction, the chief executive officer now directly owns 538 shares of the company’s stock, valued at $150,833.68. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In related news, CAO Peter M. Andreski sold 2,615 shares of the firm’s stock in a transaction on Wednesday, February 7th. The shares were sold at an average price of $278.88, for a total value of $729,271.20. Following the completion of the transaction, the chief accounting officer now directly owns 4,898 shares of the company’s stock, valued at $1,365,954.24. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CEO Ryan Mcinerney sold 8,200 shares of the firm’s stock in a transaction on Monday, April 1st. The shares were sold at an average price of $280.36, for a total value of $2,298,952.00. Following the sale, the chief executive officer now directly owns 538 shares of the company’s stock, valued at approximately $150,833.68. The disclosure for this sale can be found here. Over the last three months, insiders sold 18,965 shares of company stock valued at $5,256,352. 0.19% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

V has been the topic of a number of analyst reports. Robert W. Baird increased their price target on shares of Visa from $314.00 to $320.00 and gave the company an “outperform” rating in a research report on Wednesday, April 17th. Evercore ISI raised their target price on shares of Visa from $325.00 to $335.00 and gave the stock an “outperform” rating in a report on Tuesday, March 26th. Wells Fargo & Company raised their target price on shares of Visa from $300.00 to $325.00 and gave the stock an “overweight” rating in a report on Wednesday, March 6th. Wedbush raised their target price on shares of Visa from $270.00 to $280.00 and gave the stock an “outperform” rating in a report on Friday, January 26th. Finally, Barclays raised their target price on shares of Visa from $304.00 to $319.00 and gave the stock an “overweight” rating in a report on Monday, January 29th. Five equities research analysts have rated the stock with a hold rating and nineteen have given a buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $298.43.

Visa Price Performance

Shares of V opened at $272.31 on Tuesday. The stock has a market capitalization of $500.10 billion, a P/E ratio of 31.34, a P/E/G ratio of 1.86 and a beta of 0.96. Visa Inc. has a twelve month low of $216.14 and a twelve month high of $290.96. The company has a 50 day moving average of $279.52 and a 200-day moving average of $263.62. The company has a quick ratio of 1.45, a current ratio of 1.45 and a debt-to-equity ratio of 0.54.

Visa (NYSE:V) last released its earnings results on Thursday, January 25th. The credit-card processor reported $2.41 earnings per share for the quarter, beating the consensus estimate of $2.34 by $0.07. Visa had a net margin of 53.92% and a return on equity of 50.02%. The business had revenue of $8.63 billion during the quarter, compared to analysts’ expectations of $8.55 billion. During the same period last year, the business earned $2.18 earnings per share. The firm’s revenue was up 9.3% on a year-over-year basis. As a group, equities research analysts forecast that Visa Inc. will post 9.88 EPS for the current fiscal year.

Visa Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, March 1st. Investors of record on Friday, February 9th were paid a $0.52 dividend. The ex-dividend date was Thursday, February 8th. This represents a $2.08 annualized dividend and a dividend yield of 0.76%. Visa’s dividend payout ratio is presently 23.94%.

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.