Independence Bank of Kentucky Boosts Stake in Visa Inc. (NYSE:V)

Independence Bank of Kentucky boosted its stake in Visa Inc. (NYSE:V) by 18.3% in the fourth quarter, HoldingsChannel reports. The firm owned 32,149 shares of the credit-card processor’s stock after acquiring an additional 4,981 shares during the period. Visa accounts for about 1.6% of Independence Bank of Kentucky’s holdings, making the stock its 10th biggest position. Independence Bank of Kentucky’s holdings in Visa were worth $10,160,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also recently added to or reduced their stakes in V. Crescent Grove Advisors LLC grew its stake in shares of Visa by 2.2% in the fourth quarter. Crescent Grove Advisors LLC now owns 1,437 shares of the credit-card processor’s stock valued at $454,000 after buying an additional 31 shares in the last quarter. Phoenix Wealth Advisors grew its stake in shares of Visa by 3.4% in the fourth quarter. Phoenix Wealth Advisors now owns 964 shares of the credit-card processor’s stock valued at $305,000 after buying an additional 32 shares in the last quarter. Unionview LLC grew its stake in shares of Visa by 1.5% in the third quarter. Unionview LLC now owns 2,296 shares of the credit-card processor’s stock valued at $631,000 after buying an additional 33 shares in the last quarter. Forza Wealth Management LLC grew its stake in shares of Visa by 2.9% in the fourth quarter. Forza Wealth Management LLC now owns 1,164 shares of the credit-card processor’s stock valued at $368,000 after buying an additional 33 shares in the last quarter. Finally, Presilium Private Wealth LLC grew its stake in shares of Visa by 2.2% in the fourth quarter. Presilium Private Wealth LLC now owns 1,503 shares of the credit-card processor’s stock valued at $475,000 after buying an additional 33 shares in the last quarter. Institutional investors and hedge funds own 82.15% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts recently weighed in on V shares. Keefe, Bruyette & Woods raised their target price on shares of Visa from $360.00 to $400.00 and gave the company an “outperform” rating in a research note on Friday. Piper Sandler reissued an “overweight” rating and issued a $383.00 target price (up from $368.00) on shares of Visa in a research note on Friday. Bank of America lifted their price objective on shares of Visa from $331.00 to $363.00 and gave the stock a “neutral” rating in a research report on Friday. The Goldman Sachs Group lifted their price objective on shares of Visa from $346.00 to $384.00 and gave the stock a “buy” rating in a research report on Friday. Finally, Deutsche Bank Aktiengesellschaft lifted their price objective on shares of Visa from $300.00 to $340.00 and gave the stock a “buy” rating in a research report on Wednesday, October 30th. Four equities research analysts have rated the stock with a hold rating, twenty-five have given a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Visa has a consensus rating of “Moderate Buy” and a consensus price target of $354.73.

Visa Stock Up 1.2 %

V stock opened at $345.92 on Tuesday. The company has a market cap of $644.41 billion, a PE ratio of 34.87, a price-to-earnings-growth ratio of 2.30 and a beta of 0.97. The business has a 50-day simple moving average of $317.74 and a 200 day simple moving average of $293.27. Visa Inc. has a 52 week low of $252.70 and a 52 week high of $351.25. The company has a quick ratio of 1.28, a current ratio of 1.12 and a debt-to-equity ratio of 0.45.

Visa (NYSE:V) last released its earnings results 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%. Sell-side analysts anticipate that Visa Inc. will post 11.2 EPS for the current fiscal year.

Visa Dividend Announcement

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

Insider Buying and Selling at Visa

In other news, insider Paul D. Fabara sold 2,171 shares of the business’s stock in a transaction dated 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 directly owns 17,894 shares in the company, valued at approximately $5,510,815.18. The trade was a 10.82 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CEO Ryan Mcinerney sold 8,620 shares of the business’s stock in a transaction dated 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. Company insiders own 0.13% of the company’s stock.

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.