Independence Bank of Kentucky Has $6.07 Million Holdings in Visa Inc. (NYSE:V)

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

Several other hedge funds also recently modified their holdings of the stock. Nadler Financial Group Inc. grew its holdings in Visa by 2.4% during the fourth quarter. Nadler Financial Group Inc. now owns 1,900 shares of the credit-card processor’s stock worth $495,000 after purchasing an additional 44 shares during the period. Towerpoint Wealth LLC bought a new position in Visa during the fourth quarter worth about $216,000. Andrew Hill Investment Advisors Inc. bought a new position in Visa during the fourth quarter worth about $3,427,000. Richelieu Gestion SA bought a new position in Visa during the fourth quarter worth about $307,000. Finally, Cooper Financial Group grew its holdings in Visa by 6.4% during the fourth quarter. Cooper Financial Group now owns 7,926 shares of the credit-card processor’s stock worth $2,064,000 after purchasing an additional 476 shares during the period. Institutional investors own 82.15% of the company’s stock.

Visa Stock Down 1.5 %

Shares of V opened at $262.47 on Friday. Visa Inc. has a one year low of $227.68 and a one year high of $290.96. The company has a market cap 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. 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 firm has a 50 day simple moving average of $273.88 and a two-hundred day simple moving average of $273.50.

Visa (NYSE:V) last announced its quarterly earnings data on Tuesday, April 23rd. The credit-card processor reported $2.51 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 business had revenue of $8.78 billion during the quarter, compared to the consensus estimate of $8.62 billion. During the same period in the previous year, the business earned $2.09 earnings per share. The company’s revenue was up 9.9% on a year-over-year basis. Research analysts forecast that Visa Inc. will post 9.94 EPS for the current fiscal year.

Visa Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, June 3rd. Shareholders of record on Friday, May 17th were given a dividend of $0.52 per share. The ex-dividend date of this dividend was Thursday, May 16th. This represents a $2.08 annualized dividend and a yield of 0.79%. Visa’s dividend payout ratio is currently 23.24%.

Insider Buying and Selling at Visa

In other Visa news, CEO Ryan Mcinerney sold 8,200 shares of the business’s stock in a transaction on Monday, April 1st. The shares were sold at an average price of $280.36, for a total transaction of $2,298,952.00. Following the sale, the chief executive officer now owns 538 shares of the company’s stock, valued at $150,833.68. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. In related news, CEO Ryan Mcinerney sold 8,200 shares of the business’s stock in a transaction on Monday, April 1st. The shares were sold at an average price of $280.36, for a total value of $2,298,952.00. Following the sale, the chief executive officer now owns 538 shares of the company’s stock, valued at $150,833.68. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, Director Lloyd Carney sold 909 shares of the business’s stock in a transaction on Friday, April 26th. The stock was sold at an average price of $275.55, for a total transaction of $250,474.95. Following the completion of the sale, the director now directly owns 2,591 shares in the company, valued at approximately $713,950.05. The disclosure for this sale can be found here. Insiders sold a total of 34,402 shares of company stock worth $9,559,382 over the last three months. Corporate insiders own 0.19% of the company’s stock.

Analysts Set New Price Targets

V has been the subject of a number of research analyst reports. Citigroup lifted their price target on Visa from $314.00 to $321.00 and gave the stock a “buy” rating in a report on Wednesday, April 24th. Wedbush raised their price objective on shares of Visa from $280.00 to $300.00 and gave the stock an “outperform” rating in a research report on Wednesday, April 24th. Mizuho raised their price objective on shares of Visa from $265.00 to $275.00 and gave the stock a “neutral” rating in a research report on Thursday, May 2nd. William Blair restated an “outperform” rating on shares of Visa in a research report on Wednesday, April 24th. Finally, Oppenheimer raised their price objective on shares of Visa from $297.00 to $299.00 and gave the stock an “outperform” rating in a research report on Wednesday, April 24th. Five equities research analysts have rated the stock with a hold rating and twenty-one have assigned a buy rating to the company. Based on data from MarketBeat, Visa presently has an average rating of “Moderate Buy” and a consensus price target of $303.56.

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.