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

Stock Yards Bank & Trust Co. lowered its stake in Visa Inc. (NYSE:V) by 2.3% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 222,785 shares of the credit-card processor’s stock after selling 5,225 shares during the period. Visa accounts for approximately 2.4% 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 $70,409,000 as of its most recent SEC filing.

Other large investors have also added to or reduced their stakes in the company. State Street Corp boosted its holdings in shares of Visa by 4.5% during the 3rd quarter. State Street Corp now owns 76,610,942 shares of the credit-card processor’s stock valued at $21,064,179,000 after buying an additional 3,327,977 shares in the last quarter. FMR LLC boosted its holdings in shares of Visa by 6.1% during the 3rd quarter. FMR LLC now owns 57,111,843 shares of the credit-card processor’s stock valued at $15,702,901,000 after buying an additional 3,265,518 shares in the last quarter. Geode Capital Management LLC boosted its holdings in shares of Visa by 7.7% during the 3rd quarter. Geode Capital Management LLC now owns 38,655,250 shares of the credit-card processor’s stock valued at $10,601,135,000 after buying an additional 2,772,549 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its holdings in shares of Visa by 1.1% during the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 11,597,969 shares of the credit-card processor’s stock valued at $3,188,862,000 after buying an additional 123,927 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. boosted its holdings in shares of Visa by 6.2% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 11,522,445 shares of the credit-card processor’s stock valued at $3,168,096,000 after buying an additional 670,590 shares in the last quarter. Institutional investors own 82.15% of the company’s stock.

Visa Trading Down 0.1 %

Shares of NYSE:V opened at $345.31 on Wednesday. The stock has a 50 day moving average of $318.40 and a 200 day moving average of $293.81. The company has a market cap of $643.27 billion, a PE ratio of 34.81, a price-to-earnings-growth ratio of 2.30 and a beta of 0.97. The company has a current ratio of 1.12, a quick ratio of 1.28 and a debt-to-equity ratio of 0.45. Visa Inc. has a 12-month low of $252.70 and a 12-month high of $351.25.

Visa (NYSE:V) last announced its quarterly earnings data on Thursday, January 30th. The credit-card processor reported $2.75 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.66 by $0.09. Visa had a return on equity of 54.79% and a net margin of 54.27%. As a group, equities research analysts expect that Visa Inc. will post 11.2 EPS for the current year.

Visa Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, March 3rd. Shareholders of record on Tuesday, February 11th will be paid a $0.59 dividend. The ex-dividend date is Tuesday, February 11th. This represents a $2.36 annualized dividend and a yield of 0.68%. Visa’s payout ratio is 23.79%.

Wall Street Analysts Forecast Growth

Several research firms have recently issued reports on V. Keefe, Bruyette & Woods lifted their price target on Visa from $360.00 to $400.00 and gave the stock an “outperform” rating in a research report on Friday, January 31st. BMO Capital Markets lifted their price target on Visa from $310.00 to $320.00 and gave the stock an “outperform” rating in a research report on Wednesday, October 30th. Piper Sandler reaffirmed an “overweight” rating and issued a $383.00 price target (up previously from $368.00) on shares of Visa in a research report on Friday, January 31st. UBS Group lifted their price target on Visa from $350.00 to $400.00 and gave the stock a “buy” rating in a research report on Friday, January 31st. Finally, Morgan Stanley lifted their price target on Visa from $326.00 to $371.00 and gave the stock an “overweight” rating in a research report on Wednesday, December 18th. Four investment analysts have rated the stock with a hold rating, twenty-five have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $354.73.

Insiders Place Their Bets

In other Visa news, General Counsel Julie B. Rottenberg sold 2,572 shares of the company’s stock in a transaction that occurred on Monday, February 3rd. The stock was sold at an average price of $340.00, for a total value of $874,480.00. Following the completion of the transaction, the general counsel now directly owns 11,925 shares in the company, valued at $4,054,500. This represents a 17.74 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CEO Ryan Mcinerney sold 8,620 shares of the company’s stock in a transaction that occurred on Thursday, January 2nd. The stock was sold at an average price of $317.78, for a total value of $2,739,263.60. The disclosure for this sale can be found here. Insiders sold 21,983 shares of company stock worth $7,213,146 in the last three months. 0.13% of the stock is owned by company insiders.

Visa 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.