Stock Yards Bank & Trust Co. Has $75.37 Million Stock Holdings in Visa Inc. $V

Stock Yards Bank & Trust Co. trimmed its position in shares of Visa Inc. (NYSE:V) by 1.9% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 212,276 shares of the credit-card processor’s stock after selling 4,096 shares during the period. Visa accounts for 2.5% of Stock Yards Bank & Trust Co.’s portfolio, making the stock its 10th largest holding. Stock Yards Bank & Trust Co.’s holdings in Visa were worth $75,369,000 at the end of the most recent quarter.

Several other hedge funds also recently bought and sold shares of the company. Keystone Global Partners LLC purchased a new position in Visa in the 1st quarter worth approximately $26,000. Family Legacy Financial Solutions LLC bought a new stake in shares of Visa during the second quarter valued at approximately $28,000. von Borstel & Associates Inc. bought a new stake in shares of Visa during the first quarter valued at approximately $27,000. Cranbrook Wealth Management LLC raised its position in shares of Visa by 82.0% during the second quarter. Cranbrook Wealth Management LLC now owns 91 shares of the credit-card processor’s stock valued at $32,000 after buying an additional 41 shares during the last quarter. Finally, Westend Capital Management LLC lifted its holdings in shares of Visa by 83.1% in the second quarter. Westend Capital Management LLC now owns 108 shares of the credit-card processor’s stock worth $38,000 after buying an additional 49 shares in the last quarter. Institutional investors own 82.15% of the company’s stock.

Insider Activity

In other Visa news, CEO Ryan Mcinerney sold 10,485 shares of the firm’s stock in a transaction that occurred on Wednesday, October 1st. The shares were sold at an average price of $342.30, for a total transaction of $3,589,015.50. Following the completion of the transaction, the chief executive officer directly owned 537 shares of the company’s stock, valued at approximately $183,815.10. This trade represents a 95.13% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, General Counsel Julie B. Rottenberg sold 2,027 shares of the firm’s stock in a transaction on Monday, August 18th. The stock was sold at an average price of $344.02, for a total transaction of $697,328.54. Following the transaction, the general counsel directly owned 11,925 shares of the company’s stock, valued at approximately $4,102,438.50. This trade represents a 14.53% decrease in their position. The disclosure for this sale can be found here. 0.13% of the stock is currently owned by company insiders.

Visa Stock Down 0.2%

Shares of NYSE V opened at $349.21 on Tuesday. The firm has a 50-day simple moving average of $343.65 and a two-hundred day simple moving average of $346.89. Visa Inc. has a 1 year low of $273.24 and a 1 year high of $375.51. The company has a debt-to-equity ratio of 0.52, a current ratio of 1.12 and a quick ratio of 1.12. The company has a market cap of $640.03 billion, a P/E ratio of 34.10, a PEG ratio of 2.07 and a beta of 0.90.

Visa (NYSE:V) last announced its quarterly earnings results on Tuesday, July 29th. The credit-card processor reported $2.98 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.85 by $0.13. Visa had a return on equity of 58.93% and a net margin of 52.16%.The firm had revenue of $10.17 billion during the quarter, compared to analyst estimates of $9.82 billion. During the same quarter in the previous year, the business earned $2.42 earnings per share. Visa’s quarterly revenue was up 14.3% on a year-over-year basis. Research analysts anticipate that Visa Inc. will post 11.3 earnings per share for the current year.

Visa Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, September 2nd. Stockholders of record on Tuesday, August 12th were issued a dividend of $0.59 per share. This represents a $2.36 annualized dividend and a dividend yield of 0.7%. The ex-dividend date was Tuesday, August 12th. Visa’s dividend payout ratio is currently 23.05%.

Wall Street Analysts Forecast Growth

V has been the topic of several research reports. Raymond James Financial reaffirmed an “outperform” rating on shares of Visa in a report on Wednesday, July 30th. Morgan Stanley lifted their price objective on Visa from $386.00 to $402.00 and gave the stock an “overweight” rating in a research note on Wednesday, July 30th. Macquarie upped their price objective on Visa from $380.00 to $425.00 and gave the stock an “outperform” rating in a report on Thursday, July 31st. UBS Group reissued a “buy” rating and issued a $415.00 target price (up from $405.00) on shares of Visa in a report on Wednesday, July 30th. Finally, Deutsche Bank Aktiengesellschaft started coverage on shares of Visa in a research report on Thursday, July 17th. They issued a “buy” rating and a $410.00 price target on the stock. One equities research analyst has rated the stock with a Strong Buy rating, twenty-one have assigned a Buy rating and five have given a Hold rating to the company. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $389.00.

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.