Visa Inc. (NYSE:V) Holdings Increased by Independence Bank of Kentucky

Independence Bank of Kentucky grew its stake in shares of Visa Inc. (NYSE:V) by 9.0% during the 1st quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 21,757 shares of the credit-card processor’s stock after buying an additional 1,803 shares during the quarter. Visa accounts for 1.8% of Independence Bank of Kentucky’s investment portfolio, making the stock its 8th biggest position. Independence Bank of Kentucky’s holdings in Visa were worth $6,072,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also recently made changes to their positions in the company. Livelsberger Financial Advisory purchased a new stake in shares of Visa during the 4th quarter valued at $25,000. Westend Capital Management LLC purchased a new position in Visa in the 1st quarter worth $25,000. O Brien Wealth Partners LLC bought a new stake in Visa in the fourth quarter worth $32,000. Frank Rimerman Advisors LLC bought a new stake in Visa in the fourth quarter worth $33,000. Finally, Valued Wealth Advisors LLC bought a new stake in Visa in the fourth quarter worth $37,000. Hedge funds and other institutional investors own 82.15% of the company’s stock.

Analyst Ratings Changes

V has been the subject of several recent research reports. Mizuho boosted their price target on shares of Visa from $265.00 to $275.00 and gave the stock a “neutral” rating in a research note on Thursday, May 2nd. TD Cowen initiated coverage on shares of Visa in a research note on Thursday, April 11th. They issued a “buy” rating and a $320.00 price target for the company. Redburn Atlantic reissued a “neutral” rating and issued a $307.00 price target on shares of Visa in a research note on Wednesday, March 27th. Macquarie boosted their price target on shares of Visa from $290.00 to $300.00 and gave the stock an “outperform” rating in a research note on Wednesday, April 24th. Finally, UBS Group boosted their price target on shares of Visa from $315.00 to $325.00 and gave the stock a “buy” rating in a research note on Wednesday, April 24th. Five research analysts have rated the stock with a hold rating and twenty-one have given a buy rating to the company. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $303.56.

Insiders Place Their Bets

In other Visa news, Director Lloyd Carney sold 909 shares of the company’s stock in a transaction dated Friday, April 26th. The shares were sold at an average price of $275.55, for a total value of $250,474.95. Following the sale, the director now owns 2,591 shares in the company, valued at $713,950.05. The sale was disclosed in a filing with the SEC, which is available through the SEC website. In other Visa news, Director Lloyd Carney sold 909 shares of the company’s stock in a transaction dated Friday, April 26th. The shares were sold at an average price of $275.55, for a total value of $250,474.95. Following the sale, the director now owns 2,591 shares in the company, valued at $713,950.05. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, insider Paul D. Fabara sold 25,293 shares of the company’s stock in a transaction that occurred on Wednesday, May 15th. The stock was sold at an average price of $277.15, for a total transaction of $7,009,954.95. Following the completion of the transaction, the insider now owns 17,894 shares in the company, valued at approximately $4,959,322.10. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 34,402 shares of company stock worth $9,559,382. 0.19% of the stock is currently owned by company insiders.

Visa Price Performance

Shares of NYSE V opened at $262.47 on Friday. Visa Inc. has a 1 year low of $227.68 and a 1 year high of $290.96. The company has a debt-to-equity ratio of 0.53, a current ratio of 1.40 and a quick ratio of 1.40. The company’s 50-day moving average is $273.88 and its 200 day moving average is $273.50. The stock has a market capitalization of $480.04 billion, a P/E ratio of 29.33, a P/E/G ratio of 1.80 and a beta of 0.97.

Visa (NYSE:V) last announced its quarterly earnings results on Tuesday, April 23rd. The credit-card processor reported $2.51 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.43 by $0.08. Visa had a net margin of 53.87% and a return on equity of 51.23%. The company had revenue of $8.78 billion for the quarter, compared to analysts’ expectations of $8.62 billion. During the same quarter in the previous year, the company earned $2.09 earnings per share. Visa’s quarterly revenue was up 9.9% on a year-over-year basis. On average, sell-side analysts expect that Visa Inc. will post 9.94 earnings per share for the current year.

Visa Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Monday, June 3rd. Shareholders of record on Friday, May 17th were issued a $0.52 dividend. This represents a $2.08 dividend on an annualized basis and a yield of 0.79%. The ex-dividend date was Thursday, May 16th. Visa’s dividend payout ratio (DPR) is presently 23.24%.

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.