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

Stock Yards Bank & Trust Co. lowered its position in shares of Visa Inc. (NYSE:V - Free Report) by 2.9% in the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 216,372 shares of the credit-card processor's stock after selling 6,413 shares during the quarter. Visa makes up approximately 2.7% of Stock Yards Bank & Trust Co.'s holdings, making the stock its 6th biggest holding. Stock Yards Bank & Trust Co.'s holdings in Visa were worth $75,830,000 at the end of the most recent reporting period.

A number of other hedge funds have also made changes to their positions in V. Blue Rock Wealth Management LLC bought a new position in Visa during the 4th quarter worth approximately $306,000. Aptus Capital Advisors LLC increased its holdings in shares of Visa by 19.8% in the fourth quarter. Aptus Capital Advisors LLC now owns 182,658 shares of the credit-card processor's stock valued at $57,727,000 after purchasing an additional 30,185 shares during the last quarter. King Wealth Management Group grew its stake in shares of Visa by 9.0% in the fourth quarter. King Wealth Management Group now owns 74,874 shares of the credit-card processor's stock valued at $23,663,000 after acquiring an additional 6,172 shares in the last quarter. Eagle Strategies LLC grew its stake in shares of Visa by 2.5% in the fourth quarter. Eagle Strategies LLC now owns 2,568 shares of the credit-card processor's stock valued at $811,000 after acquiring an additional 63 shares in the last quarter. Finally, Generali Investments CEE investicni spolecnost a.s. acquired a new stake in Visa during the fourth quarter worth about $10,163,000. Institutional investors and hedge funds own 82.15% of the company's stock.

Analysts Set New Price Targets

A number of research analysts have recently commented on V shares. Macquarie dropped their target price on shares of Visa from $400.00 to $380.00 and set an "outperform" rating for the company in a report on Wednesday, April 30th. Susquehanna reissued a "positive" rating on shares of Visa in a report on Friday, March 21st. Wall Street Zen raised shares of Visa from a "hold" rating to a "buy" rating in a report on Monday, May 12th. BMO Capital Markets increased their target price on shares of Visa from $370.00 to $380.00 and gave the stock an "outperform" rating in a report on Wednesday, April 30th. Finally, Jefferies Financial Group increased their target price on shares of Visa from $400.00 to $410.00 and gave the company a "buy" rating in a research report on Tuesday, May 27th. Five analysts have rated the stock with a hold rating, twenty-three have issued a buy rating and one has issued a strong buy rating to the company's stock. According to data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average target price of $372.80.

Insider Transactions at Visa

In other Visa news, CEO Ryan Mcinerney sold 8,620 shares of Visa stock in a transaction that occurred on Tuesday, April 1st. The shares were sold at an average price of $350.44, for a total transaction of $3,020,792.80. Following the transaction, the chief executive officer now directly owns 537 shares of the company's stock, valued at approximately $188,186.28. This trade represents a 94.14% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, General Counsel Julie B. Rottenberg sold 2,575 shares of Visa stock in a transaction that occurred on Thursday, May 1st. The stock was sold at an average price of $345.58, for a total transaction of $889,868.50. Following the transaction, the general counsel now directly owns 11,925 shares in the company, valued at $4,121,041.50. This trade represents a 17.76% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 140,448 shares of company stock valued at $50,133,659. 0.13% of the stock is currently owned by corporate insiders.

Visa Stock Down 5.0%

NYSE:V traded down $18.65 during trading hours on Friday, hitting $352.75. 14,176,249 shares of the company traded hands, compared to its average volume of 7,023,536. The company has a market cap of $650.87 billion, a PE ratio of 35.56, a PEG ratio of 2.33 and a beta of 0.94. Visa Inc. has a one year low of $252.70 and a one year high of $375.51. The company has a quick ratio of 1.12, a current ratio of 1.12 and a debt-to-equity ratio of 0.45. The firm's 50-day simple moving average is $349.76 and its 200-day simple moving average is $337.45.

Visa (NYSE:V - Get Free Report) last released its earnings results on Tuesday, April 29th. The credit-card processor reported $2.76 EPS for the quarter, topping analysts' consensus estimates of $2.68 by $0.08. The company had revenue of $9.59 billion for the quarter, compared to analysts' expectations of $9.57 billion. Visa had a return on equity of 54.79% and a net margin of 54.27%. The business's revenue for the quarter was up 9.3% compared to the same quarter last year. During the same period in the previous year, the business posted $2.51 EPS. Equities analysts predict that Visa Inc. will post 11.3 earnings per share for the current year.

Visa Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Monday, June 2nd. Stockholders of record on Tuesday, May 13th were issued a $0.59 dividend. This represents a $2.36 dividend on an annualized basis and a dividend yield of 0.67%. The ex-dividend date was Tuesday, May 13th. Visa's payout ratio is 23.72%.

Visa Company 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.